Submarine Cable System Market to Witness Growth Acceleration Subcom, NEC, Fujitsu, Hengtong Group, Nexans, Prysmian, Mitsubishi Electric, Sumitomo Electric Industries
The top companies operating in the field of submarine cable system include Alcatel (Nokia Networks), NEC Corporation, TE Subcom, and others. Various other companies operating in the market and are coming up with new technologies and offerings which is helping the market for the submarine cable system to expand over the years in terms of revenue.
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Asia Pacific comprises of various emerging economies where the Governments in the recent times are support various policies for enabling economic growth. Digitalization of the economy has taken center stage in majority of the countries such as India, china, Vietnam, Hong Kong, Malaysia, and Indonesia. The power of internet is being harnessed for enabling rapid economic progress in the countries. As a result, many submarine cable system deployments are being witnessed currently in the Asia Pacific region. The Malaysia, Combodia, Thailand (MCT) submarine cable system, and the NEC supported submarine cable system for connecting Chennai with Andaman & Nicobar Islands are few examples of ongoing submarine cable system deployments in APAC market.
Government in both developed and developing economies are focusing on enhancing targets of broadband coverage and internet capabilities in both rural and urban areas, government are aggressively spending on digital infrastructure, expanding network capabilities for efficiently rolling out new technologies and connecting citizens with broadband and technology, which will also indirectly boost the growth of other industry as well. Developing economies such as India and China are one of the prime examples of countries where governments are taking positive steps for fostering adoption of optical fiber cables as well as the underlying submarine cable systems to provide interconnection to the terrestrial networks.
The Asia pacific region is said to constitute one of the most expansive undersea cable networks that has played a crucial role in the transformation of this region. Further, with the multi- folds rise in demands of increased trans- pacific bandwidth by 2020, it is anticipated that investments for the submarine cable systems would reach new heights in the coming years. Asia Pacific contributes heavily to the data consumption. Higher rates of smartphone penetrations in the Asian countries especially India and China coupled with the parallel advancements in the 3G and 4G communication technologies have significantly contributed to the communications industry advancements in the region.
The APAC submarine cable systems market has been segmented on the basis of service, and application. On the basis of service, the market has been segmented into installation services, and maintenance & upgrade services. The submarine cable system finds its applications into the communication sector and also in the energy & power sector.
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