Submarine Cable System Market Revenue to Cross $30.4 Billion by 2027: The Insight Partners

According to the new research report published by The Insight Partners, titled "Submarine Cable Systems Market to 2027 - Global Analysis and Forecasts by Service (Installation Services and Maintenance & Upgrade Services) and Application (Communication and Energy & Power)", The global submarine cable system market Development in cloud computing technology is yet another factor expected to drive the growth of this market in near future.

The global submarine cable systems market accounted for $13.4 Billion in 2018 and is expected to grow at a CAGR of 9.2% during the forecast period 2019 - 2027, to account for $30.4 Billion by 2027.

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In 2018, Asia Pacific accounted for the largest share in the submarine cable systems market Whereas, Middle Eat & Africa region is expected to be the fastest-growing region in the submarine cable systems market. The demand for submarine cable systems is anticipated to be robust, due to the growing need for reliable connectivity through fiber optic cables.

In the 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 be the fastest-growing region of the submarine cable market.

In the Middle East and Africa region, South Africa is expected to be the fastest-growing country and the UAE 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.

In the recent few years, the submarine cable systems market has noticed noteworthy M&A and partnership activity. Some of the significant deals include, the 2017 Hubbell Inc. has completed the acquisition of iDevices of Avon. The acquisition would help Hubbell to strengthen its way in the field of innovation with the expertise of iDevices in the Internet of Things. Another initiative with respect to the contractual alliance is undertaken by Cortem Group consolidated its presence in Saudi territory by signing an exclusive contract with SPF, Safety and Protection Factory. This new exclusive contract signed with the SPF company for the assembly, production, and distribution in Saudi Arabia and new management in charge of the Sister Company in Dubai supports Cortem Group to strengthen its presence in the Middle East in 2018.

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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 in 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 for the market to grow and thus, positively impacting the submarine cable systems market.

Submarine Cable System Market: Competitive Landscape and Key Developments

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 are among the key players in the global Submarine Cable System market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.

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2018: NEC Corporation announced that it has signed an agreement with the Southeast Asia-Japan 2 consortium (SJC2 consortium) to build a high-performance submarine cable connecting Singapore, Thailand, Cambodia, Vietnam, Hong Kong, Taiwan, and mainland China, Korea, and Japan.

2018: Fujitsu unveiled its new Development of Novel Technology, an ultra-high capacity wavelength-division multiplexing system, to Massively Boost Optical Data Transfer Throughput Using Existing Equipment. The new technology enables the usage of multiple wavelength bands to support expanded transmission capacity between datacenters.

2018: Nexans unveiled that it will manufacture and deliver 250 kilometers of subsea fiber-optic cable to Huawei Marine as a prime turnkey supplier for the construction and deployment of the SEAX-1 project. The project will connect Malaysia and Indonesia, providing the population of the region with high-speed robust connectivity.

2018: Djibouti Telecom and Somtel Declared about supply contract for Djibouti Africa Regional Express 1 (DARE1) submarine cable system with SubCom. The 5,400km DARE1 submarine cable system is expanded into eastern Africa that connects Mogadishu (Somalia), Djibouti (Djibouti), and Mombasa (Kenya).

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The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Devices, Technology, Media and Telecommunications, Chemicals, and Materials.

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