Submarine Communication Cables Market accounted for USD 22 Billion in 2019 and is expected to reach USD 35.3 Billion by 2026, growing at a CAGR of around 7%
The submarine communication cables market is set for a rapid growth over the forecast period. In terms of revenue, the global submarine communication cables market accounted for USD 22 Billion in 2019 and is expected to reach USD 35.3 Billion by 2026, growing at a CAGR of around 7%. The submarine communication cables carry around 90% of the data traffic across the world. In addition, their total carrying capacity is in terabits per second. As a result, they are the most valued cables for the OTT and communication providers, such as Google, Amazon, Facebook, and Microsoft. Most of the economies consider submarine cables as a vital component of the economy and have set regulations to protect it from threats. For instance, the Australian Communications and Media Authority (ACMA) have created safety zones that prohibit activities that can damage these cables, which are linked through Australia & Rest of the World. In addition, it legalizes the installation of new submarine cables projects.
Submarine Communication Cables Market: Overview
A submarine communications cable is a cable that is placed on the seabed in between stations that are present on the land in order to transmit the telecommunication signals across the ocean. The modern submarine communication cables make use of the optical fiber technology for transmitting the digital data such as the data from the private data traffic, telephone, and Internet.
Submarine Communication Cables Market: Facts
In the past years, the telecom consortiums paid for the undersea cables. In the recent years, the well-known tech organizations such as the Microsoft and Google are putting their step forward in entering this game and are heavily investing in the infrastructure that increases the possibility of the world staying connected.
Submarine Communication Cables Market: Segmentation
The global market for the submarine communication cables is fragmented into cable type, ownership, project type, and service. Based on the cable type, the global market is segregated into armored and unarmored. The armored segment is sub-segmented into single and double armored. Based on the ownership, the market is categorized into private enterprises, consortiums, and multilateral development banks. Based on the project type, the market is divided into up gradations and new projects. Based on the service, the market is bifurcated into repair/maintenance and layup services/installation.
Submarine Communication Cables Market: Growth Factors
In the past few years, the usage of the data has increased significantly and in the coming years, it will nearly double. This increased data consumption is due to the rise in the number of the mobile users, increasing use of the networking sites, and the shift in the cloud-based services. All these factors coupled with the growing technology and information exchange among the different countries is increasing the demand for the submarine communication cables. The rise in the demand for the communication channel in order to deliver high-speed data has given rise to the need to change the old and outdated submarine cables with the newer ones. The factors that will restrain the growth of the market are the increasing emphasis of the researchers to enhance the capabilities of wireless or satellite-based communication will hamper the growth of the submarine communication cables. Also, there is a frequent requirement for the maintenance of the submarine cables and as they are exposed to natural hazards they need to be monitored more often.
Submarine Communication Cables Market: Regional Analysis
The region that is dominating the submarine communication cables market is the North America and this is due to the increasing technological advancements and the growing emphasis on the information channel links. Asia Pacific region will be witnessing a significant market growth in the coming years due to the flourishing IT service industry and the rise in the number of the data users anticipates replacing the old links. There will be new opportunities opening up for the submarine communication cable market players in the regions of the Middle East and Africa.
Submarine Communication Cables Market: Competitive Players
The key market players that are involved in the submarine communication cables market include General Cable Technologies Corporation, Hengtong Marine Cable System, Alcatel Submarine Networks, NEC Corporation, OCC Corporation, ZTT Group, Nexans S.A., and others.
Submarine Communication Cables Market: Regional Segment Analysis
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