Subsea Cable Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type (Single Core and Multi Core), Voltage (Medium and High), Offering (Installation Services and Maintenance & Up

Subsea Cable Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type (Single Core and Multi Core), Voltage (Medium and High), Offering (Installation Services and Maintenance & Upgrade Services), and Application (Communication and Power)

The subsea cable market is expected to grow from US$ 16.92 billion in 2022 and is expected to reach US$ 34.16 billion by 2030; it is estimated to record a CAGR of 9.2% from 2022 to 2030.

Subsea cable is highly used to perform communications activities between countries or regions. The underground cables are responsible for around 97% of all internet traffic worldwide. Rising internet usage and growing internet traffic worldwide fuel the communication segment during the forecast period. Approximately 90% of the global data is carried by underwater communication cables. Furthermore, the overall throughput of communication cables is measured in terabits per second. They are the most valuable cable for over-the-top (OTT) communication companies like Google, Amazon, Facebook, and Microsoft. For instance, in October 2021, NEC Corporation, an IT company in Japan, plans to build a large submarine cable network with four core fiber optics for Facebook to the USA and Europe. However, the communication segment accounted for a significant share and is projected to grow significantly during the forecast period. Increasing urbanization and growing infrastructure development activities in developed and developing countries drive the market.

Global subsea cable market size is segmented by type into single core and multi core. The multi core segment is projected to grow during the forecast period. A multi core cable has 2 or more than two cores in cables, increasing its adoption in the versatile applications that require a high volume of cables. Multi core cables are designed by increasing in multi core without increasing the cable diameter with cost-per-bit benefits in the cable system. The growing demand for high-speed data transmission across long distances in subsea or ocean environments fuels the market. These cables carry four communications in the same fiber diameter, which increases cable capacity without reducing the number of fiber pairs or affecting the cable size. Multi core cables can hold 16 fiber pairs and withstand water pressures at a depth of 8,000 meters, increasing user demand and driving the subsea cable market growth.

The rising adoption of advanced technologies such as 5G and renewable energy sources drives the adoption rate of subsea cable in APAC. Moreover, growing new installation of cables in the region is creating opportunities for market growth. For instance, in August 2023, Amazon is stretching its subsea cable about 9,500 miles from the US to Asia Pacific. The cable is connecting Oregon, California, Japan, and Singapore, improving power transmission and distribution efficiency. Thus, driving the market in the region.

Nokia; SubCom, LLC; NEC Corporation; Prysmian S.p.A; NKT A/S; Furukawa Electric Co Ltd.; Hengtong Co Ltd.; Ciena Corporation; ZTT Cable; and JDR Cable Systems Ltd. are among the key subsea cable market players profiled in this market study. Several other essential subsea cable market players were analyzed for a holistic view of the market and its ecosystem.

The overall subsea cable market size has been derived using both primary and secondary sources. To begin the subsea cable market research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the subsea cable market. The process also serves the purpose of obtaining an overview and market forecast of the subsea cable market growth with respect to all market segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights about the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the subsea cable market.

Please Note: It will take 3-5 business days to complete the report upon order confirmation for delivery of the full report and excel data pack.