Submarine Cable System Market is expected to grow US$ 30.4 Billion at a CAGR of 9.2% during 2019-2027 - Leading Key Players Huawei Marine Networks, Subcom, Fujitsu, Nokia and Mitsubishi Electric

The global submarine cable systems market accounted to US$ 13.4 Billion 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 Billion 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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Internet is the backbone of advancements in an economy

Developments in the developing economies have been exponential in the recent few years whereas, in the already developed nations, the internet is considered to be the backbone of the entire digital infrastructure. Dependence on various industry verticals on the internet to serve better to their customers has been increasing resulting in the explosion of data traffic. Governments of various countries worldwide have laid their stress on the reach of high-speed internet services in urban and rural areas of their countries.

Growing investments of content and cloud service providers

The data center footprints are extensive and have been increasing at exponential rates. However, large parts of the world are still underserved. Data centers have become increasingly important nodes of information that store, process and transfer large amounts of data, and is used by various industry sectors across the globe. As economies develop, the deployment of data centers is also expected to rise. Interconnection of these data centers is through the content distribution networks that use the submarine-based cabling for their usage. This trend is expected to provide prosperous opportunities to the market to grow and thus, positively impacting the submarine cable systems market.

Service Insights

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.

Application Insights

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.

The Prominent/Emerging Players in the Submarine Cable System Market Research include:

o Huawei Marine Networks Co., Limited
o Subcom, LLC
o NEC Corporation
o Fujitsu Limited
o Nokia Corporation
o Hawaiki Cable Limited
o Sumitomo Electric Industries, Ltd.
o Nexans SA
o Prysmian Group
o Mitsubishi Electric Corporation

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Key Elements that the report acknowledges:

o Market size and growth rate during forecast period.
o Key factors driving the Submarine Cable System Market.
o Key market trends cracking up the growth of the Submarine Cable System Market.
o Challenges to market growth.
o Key vendors of Submarine Cable System Market.
o Detailed SWOT analysis.
o Opportunities and threats faces by the existing vendors in Global Submarine Cable System Market.
o Trending factors influencing the market in the geographical regions.
o Strategic initiatives focusing the leading vendors.
o PEST analysis of the market in the five major regions.

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This release was published on openPR.