Submarine Cable System Market outlook to 2027- Huawei Marine Networks, Fujitsu Limited, Nokia, Sumitomo Electric Industries, Nexans SA, Prysmian Group, and Mitsubishi Electric

Submarine cable systems market accounted to US$ 13.4 Bn in 2018 and is expected to grow at a CAGR of 9.2% during the forecast period 2019 – 2027, to account to US$ 30.4 Bn by 2027.

Geographically, the Submarine Cable Systems market is segmented into North America, APAC, Europe, MEA, and SAM regions. Asia Pacific leads the submarine cable systems market in 2018 with a significant market share, Whereas Middle East is anticipated to gro with a highest CAGR. Various significant developments have been witnessed with regards to the deployments of the submarine cable systems in the Asia Pacific region. By 2020, the bandwidth demand for the trans-pacific undersea cables network is anticipated to grow to seven-folds of the current bandwidth value, and thereby attract huge investments for the market. Asia Pacific region is considered to be one of the important communications hubs across the globe and therefore efficient communication cabling infrastructure for empowering seamless information exchange across the data centers is one of the most crucial aspects for the region. Furthermore, the Middle East and Africa is expected to witness high demand due to, government focus on increasing optical fibers in the region owing to the high efficiency and reduce power consumption. In the Middle East region, based on the cables installed, the UAE leads the region (19 cables), followed by Saudi Arabia and Oman correspondingly. Further, over 50% of the 39 cables serving the region land in these three countries.

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Some of the key players operating in the Submarine Cable Systemsmarket are Huawei Marine Networks Co., Limited, Subcom, LLC, NEC Corporation, Fujitsu Limited, Nokia Corporation, Hawaiki Cable Limited, Sumitomo Electric Industries, Ltd., Nexans SA, Prysmian Group, and Mitsubishi Electric Corporation.

The global submarine cable systems market by service is segmented into installation services and maintenance & upgrade services. installation services segment dominates the Submarine cable systems market heavily and is expected to continue its dominance throughout the forecast period from 2019 – 2027. The upcoming submarine cable system projects and offshore wind farms are expected to propel the demand for the installation services in the market.

The global submarine cable systems market by application is segmented into communication and energy & power. Communication segment dominates the submarine cable systems market heavily and is expected to continue its dominance throughout the forecast period from 2019 – 2027. In The concerns for faulty lines and natural disasters are widely steering the need for submarine cable system maintenance & upgrade services.

Key findings of the study:

In APAC region, Hong Kong holds the largest submarine cable systems market share in the Asia Pacific region. Hong Kong The liberalization of the external-facilities based telecommunications market By the Office of Communications Authority (OFCA) in Hong Kong has led to the country adopting an open licensing regime. As a result, many submarine cable systems find Hong Kong to be an important landing site. Nevertheless, India is anticipated to tbe the fasterst growing region of the submarine cable market.

In Middle East and Africa region, South Africa is expected to be the fastest growing country and the UAE is the holds the largest share in the market. Africa is experiencing high industrial and infrastructural growth. The energy sector and telecom sector in the region is growing at a high pace attributed to the increasing population and developments in international connectivity. Also, the continuous investment in UAE’s infrastructure is propelling the market growth in UAE.

Merger and acquisition are expected to be the key growth strategy to be adopted by players for the next two-three years. However, this strategy could impact competition; it is also expected to generate new market as well as product opportunities as recently combined companies will thrive to maintain position and profitability.

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