Press release
Submarine cable systems Market Drivers, Size, Trends, Insights, Outlook, Overview 2024-2033
Submarine cable systems Market
The Business Research Company presents an extensive market research report on the Submarine cable systems Global Market Report 2024 , furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The submarine cable systems market size has grown rapidly in recent years. It will grow from $18.28 billion in 2023 to $20.54 billion in 2024 at a compound annual growth rate (CAGR) of 12.3%. The growth in the historic period can be attributed to global connectivity demand, international trade growth, telecommunication infrastructure development, energy transmission requirements, data center expansion.
The submarine cable systems market size is expected to see rapid growth in the next few years. It will grow to $33.29 billion in 2028 at a compound annual growth rate (CAGR) of 12.8%. The growth in the forecast period can be attributed to emerging market connectivity, renewable energy integration, 5G network deployment, digitalization trends, telemedicine expansion. Major trends in the forecast period include focus on developing resilient and fault-tolerant cable systems, collaborations for cross-border submarine cable projects, rise of open cable system architectures, introduction of smart cable monitoring and maintenance systems, emergence of eco-friendly and sustainable submarine cable solutions.
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Key Market Players:
Major companies operating in the submarine cable systems market report are Amazon.com Inc., Alphabet Inc., Microsoft Corporation, Sumitomo Electric Industries Ltd., Fujitsu Limited, Saudi Ericsson Communications Company Ltd., NEC Corporation, Hengtong Group Co Ltd., TE Connectivity Ltd., Corning Incorporated, Prysmian SpA, Nexans S.A., Leoni Special Cables GmbH, NKT A/S, Apar Industries Ltd., Cablel Group Ltd., Tele-fonika Kable S.A., Hexatronic Cables & Interconnect Systems AB, SubCom LLC, The Okonite Company Inc., LS Cable & System Ltd., ZTT International Ltd., Alcatel Submarine Networks Company, JDR Cable Systems Ltd., Huawei Marine Networks Co Ltd, Xtera Communications Inc., Hesfibel SA, Norddeutsche Seekabelwerke GmbH, Amphenol Fiber Systems International, Elettra Communications Ltd., Kokusai Cable Ship Co Ltd., Global Marine Group Ltd., Orange S.A., PCCW Global Ltd., Aqua Comms Limited, Seaborn Networks LLC, Hawaiki Submarine Cable LP, Southern Cross Cable Network Ltd., MainOne Cable Company Limited, Angola Cables SA
Market Drivers:
The rising number of telecom and internet subscriptions is significantly contributing to the growth of the submarine cable system market. A submarine cable system that is laid on the seabed helps in carrying the telecommunication signals across various places by using optical fiber technology. There is rapid growth in the telecom and internet subscriptions industries as the utility of smartphones compared to normal desktops has increased rapidly, this drives the telecom and internet subscriptions. For instance, according to the Telecom Regulatory Authority of India, broadband Internet subscribers in India have increased from 747.41 million in 2020 to 778.09 million in 2021. Therefore, the rise in the number of telecom and internet subscriptions is driving the telecom and internet subscriptions market.
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https://www.thebusinessresearchcompany.com/report/submarine-cable-systems-global-market-report
The submarine cable system market covered in this report is segmented -
1) By Component: Wet Plant Products, Dry Plant Products
2) By Type: Multicore, Single Core
3) By Voltage: High Voltage, Medium Voltage
4) By Application: Communication Cables, Power Cables
5) By End User: Offshore Wind Power Generation, Inter-Country and Island Connection, Offshore Oil and Gas
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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