2024 Undersea Cabling Market Report : Market Size, Growth Drivers, And Key Trends

"The Business Research Company recently released a comprehensive report on the Global Undersea Cabling Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The undersea cabling market size has grown rapidly in recent years. It will grow from $18.69 billion in 2023 to $21.23 billion in 2024 at a compound annual growth rate (CAGR) of 13.6%. The growth in the historic period can be attributed to global internet demand, telecommunication expansion, data center connectivity, international trade and commerce, international trade routes..

The undersea cabling market size is expected to see rapid growth in the next few years. It will grow to $34.82 billion in 2028 at a compound annual growth rate (CAGR) of 13.2%. The growth in the forecast period can be attributed to 5g network deployment, renewable energy projects, submarine fiber optic advancements, remote work and telemedicine, climate change resilience.. Major trends in the forecast period include increased cable capacity, diverse route expansion, global internet exchange points ,5g connectivity, hybrid fiber-optic and power cables..

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Market Drivers and Trends:

Growing demand for inter-country and island connections is driving an undersea cabling market. With improved international connectivity, fixed broadband penetration has become amongst the very best within the region. A large number of consumers access FTTP-based services. For instance, in 2021, French Polynesia, an overseas collectivity of France, has one of the most advanced telecoms infrastructures in the Pacific Islands region. The first submarine cable was deployed in 2010 and extra cables are connected to the islands in subsequent years, vastly improving French Polynesia's international connectivity. Approximately 43% of the country's mobile connections are on 3G networks, while LTE accounts for 12%. By 2025, LTE is predicted to account for quite half of all connections. It is also estimated that 77% of mobile subscribers have smartphones by 2025.

Faster connectivity with 5G in undersea cabling solutions are shaping the undersea cabling market. For instance, in February 2022, Bharati Airtel and Reliance Jio, global telecommunication companies have invested in improving submarine cable systems' capacity to develop the low-latency of 5G networks that are expected to roll out in the next fiscal year. Bharti Airtel has joined the SEA-ME-WE-6 undersea cable consortium to improve its network's highspeed capacity which helps in growing India's digital economy and Reliance Jio's cable system IAX network helps in connecting Maldives directly to the countries like India and Singapore.

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Major Key Players of the Market:

Alcatel-Lucent S.A., Tyco Electronics Ltd., NEC Group, Nippon Telegraph and Telephone Corporation, Huawei Technologies Co. Ltd., Infinera Corporation, Fujitsu Limited, Nexans S.A., NKT A/S, Prysmian Group, Corning Incorporated, Hexatronic Group AB, Jiangsu Zhongtian Technology Co. Ltd., LS Cable & System Ltd., SubCom LLC, Alcatel Submarine Networks Inc., TE SubCom LLC, Xtera Communications Inc., Hengtong Group Co. Ltd., Huawei Marine Networks Co. Ltd., Ciena Corporation, Optical Cable Corporation (OCC), Global Marine Group, Sumitomo Electric Industries Ltd., RTI Connectivity Pte. Ltd., Aqua Comms Limited, Hawaiki Submarine Cable LP, Seaborn Networks Inc., Southern Cross Cable Network, Vocus Group Limited, PCCW Global Ltd., MainOne Cable Company, Angola Cables S.A., Seacom Limited, Telxius Telecom S.A.

Undersea Cabling Market 2024 Key Insights:

• The undersea cabling market size is expected to see rapid growth in the next few years. It will grow to $34.82 billion in 2028 at a compound annual growth rate (CAGR) of 13.2%.
• Undersea Cabling Market Driven By Growing Demand For International Connectivity
• Development In 5G Connectivity
• North America was the largest region in the undersea cabling market share in 2023

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