NEW YORK, Feb. 8, 2024 /PRNewswire/ — The global submarine fiber cable market size is estimated to grow by USD 4.85 billion from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 12.2% during the forecast period. The predominant trend in the Submarine Fiber Cable Market is the increased investment in 400G submarine cable systems. This trend stems from the escalating demand for high-bandwidth communication services, driven by activities such as video streaming, data sharing, and business transactions. With internet traffic doubling every few years, telecom operators are compelled to adapt and upgrade their networks, leading to significant growth in advanced cable technologies like 400G networks.
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Cenergy Holdings SA, Ciena Corp., Corning Inc., Hengtong Group Co Ltd, Hesfibel Subsea Cables, Hexatronic Group AB, Jiangsu Hengtong Au Optronics Co., Jiangsu Zhongtian Technology Co Ltd, LS Cable and System Ltd., NEC Corp., Nexans SA, NKT AS, Nokia Corp., OCC Corp., Prysmian Spa, Qingdao Hanhe Cable Co. Ltd., SSG cable group, SubCom LLC, Tele Fonika Kable SA, Turkuaz Kablo AS, and Xtera Ltd. are some of the major companies.
Technavio has segmented the market based on source (consortia, private enterprises, and governments and development banks), service type (installation, maintenance, and upgrade), and geography (APAC, North America, Europe, Middle East and Africa, and South America).
- The consortia segment of the Submarine Fiber Cable Market is set to experience significant growth during the forecast period. Consortium investments, characterized by equal risk-sharing among shareholders, have historically been vital for funding submarine cable projects, amounting to billions of dollars. While consortia have traditionally dominated the market, large multinational corporations are now establishing their undersea fiber cable networks, slightly reducing the consortia segment’s market share.
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“The rapid developments in telecommunication networks drive the growth, however, challenges such as the fiber damage caused by human activities and fish attacks may impede the growth.”
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What are the key data covered in this Submarine Fiber Cable Market report?
- CAGR during the forecast period
- Detailed information on factors that will drive the growth of the Submarine Fiber Cable Market between 2023 and 2027
- Precise estimation of the Submarine Fiber Cable Market size and its contribution to the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the Submarine Fiber Cable industry across APAC, Europe, North America, Middle East and Africa, and South America
- A thorough analysis of the competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of Submarine Fiber Cable vendors
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The Submarine Fiber Cable industry is essential for global data transmission, providing the backbone for undersea communication cables and telecommunication infrastructure. These submarine cable systems support internet connectivity, fiber optic networks, and international data exchange, playing a crucial role in ensuring network connectivity across the telecommunications industry. The market’s significance lies in facilitating seamless communication and supporting the ever-growing demands of international data transmission.
The submarine market size is estimated to grow at a CAGR of 5.45% between 2022 and 2027 and the size of the market is forecast to increase by USD 8,990.05 million.
The submarine power cable market size is estimated to grow at a CAGR of 12.14% between 2022 and 2027 and the size of the market is forecast to increase by USD 3,975.36 million.
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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