by The submarine cables market involves the laying and maintenance of underwater cables that provide telecommunications connectivity between countries. Submarine cables carry almost all international phone and internet traffic. they deliver high-bandwidth connectivity to billions of people worldwide. Key advantages of submarine cables include high data capacity to support growing bandwidth demand, low latency for time-critical applications, and reliable connectivity compared to other options. With internet usage and digitalization increasing globally, reliable and high-speed international telecommunications infrastructure has become imperative. This is driving more countries and private players to invest in the development and upgrading of submarine cable networks.
The Global submarine cables market is estimated to be valued at US$ 3170.09 Mn in 2024 and is expected to exhibit a CAGR of 5.1% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the submarine cables market are ANDRITZ (Austria), Thyssenkrupp (Germany), GEA Group Aktiengesellschaft (India), Metso (Finland), FLSmidth (Denmark), Buhler Holding AG (Switzerland), Anivi (Spain), Carrier Vibrating Equipment, Inc. (U.S.), Mitchell Dryers Ltd (U.K.), Yamato Sanko Co., Ltd. (Japan), Kerone Engineering Solutions (India), Ventilex.(Netherlands), FEECO International, Inc (U.S.), GEM MACHINERY & ALLIED INDUSTRIES (India), Glatt GmbH, Binzen (Germany), Cadworks India Pvt. Ltd.(India) ,FEECO International, Inc. (U.S.).
The increasing Submarine Cables Market Trends for high-speed internet services globally is opening huge opportunities for deployment of new submarine cable systems. Significant investments are being made across Asia, Africa, Middle East, and Latin America to close the digital divide.
Major players are focusing on global expansion plans across emerging regions to capitalize on the rising demand for telecom connectivity. For example, SEA-ME-WE-6, a new submarine cable system connecting Singapore, Thailand, Malaysia, Myanmar, Bangladesh, India, Pakistan, UAE, Oman, Qatar, Bahrain and Saudi Arabia.
Market drivers
The growth of the Submarine Cables Market is driven by increasing demand for reliable telecommunications infrastructure globally. With more people and organizations becoming dependent on digital connectivity, there is a need for strengthening international bandwidth pipelines. Submarine cables remain the backbone for global data transmission due to their huge bandwidth capacity and reliability compared to satellite connectivity. Continued investments towards upgrading aging submarine cable networks and deploying new systems will propel the market growth over the forecast period.
PEST Analysis
Political: The submarine cable market is regulated globally by International laws and agreements for cable laying and operation. Various governments aims to increase connectivity via submarine cables to boost their economy and trade. Some geopolitical tensions can impact cable routes.
Economic: As the global economy is getting interconnected, the demand for high speed internet is increasing rapidly. This is driving the growth of the submarine cable market. Easy access to affordable high speed internet helps several industries like banking, online education, e-commerce etc to grow.
Social: With rising internet and smartphone usage, people across the world are getting more connected than ever via social media platforms. This increases the demand for international bandwidth. Submarine cables help bridge the digital divide globally.
Technological: advancements in optical cable designs allow higher fiber count and bandwidth capabilities in the same cable space. repeater and terminal station technologies help transmit data over longer ocean spans. Network simplification via advanced domain control and software defined networking enhances the submarine cable infrastructure.
Around 60% of the global submarine cable market in terms of value is concentrated in North America and Asia Pacific region. This is due to high density of internet traffic and number of internet users in countries like USA, China, Japan and India.
The fastest growing region for the submarine cable market is expected to be Africa. Many countries in Africa still have low internet penetration and the existing connectivity is inadequate. Several new cables are being planned and implemented along African coasts to match the rising bandwidth demand from growing economies, population and developments in digital services. Initiatives like 2Africa are expanding the submarine cable network to boost connectivity across the entire continent.
*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it.
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
