New York, June 09, 2023 (GLOBE NEWSWIRE) -- As per the research report “Global Submarine Optical Fiber Cable Market” published by Consegic Business Intelligence, the market was worth USD 19,214.71 Million in 2022 and is anticipated to reach over USD 53,082.13 Million by the year 2030, growing at a CAGR of 13.8%.
Submarine optical fiber cable also known as undersea cable is a type of telecommunication that is laid on the ocean floor to transmit data across continents or in between countries. The cable consists of multiple optical fibers encased in protective layers designed to withstand harsh marine environments.
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The growing global dependency on digital connectivity is resulting in the increased demand for high-speed internet connectivity. Submarine optical fiber cable plays a crucial role in meeting the demand by providing the necessary infrastructure required for high capacity & low latency data transfer. Further the demand for seamless global connectivity has surged due to the interconnected nature of businesses, organizations, and individuals worldwide.
Additionally, Further governments are actively promoting digital transformation across various sectors including healthcare, education, transportation, and public services among others. Submarine optical fiber cables are vital for seamless data exchange and communication in the sectors. Thus, growing demand for high speed internet connectivity and increasing investment in optical fiber infrastructure is resulting in the market growth.
| Report Attributes | Report Details |
| Market Size By 2030 | USD 53,082.13 Million |
| Forecast Period | 2023-2030 |
| CAGR (2023-2030) | 13.8% |
| Base Year | 2022 |
| Study Timeline | 2017-2030 |
| Key Players | Fujitsu Limited, NEC Corporation, Ciena Corporation, ABB Ltd., SubCom, Xtera, Alcatel-Lucent Submarine Networks SAS, Cable & Wireless Communications Ltd., NTT World Engineering Marine Corporation, S. B. Submarine Systems Co., Ltd., Seaborn Networks LLC |
| By Type | Deep Sea Fiber Optic Cable and Shallow Sea Fiber Optic Cable |
| By Product Type | Single Core and Multicore |
| By Component | Wet Plant Products and Dry Plant Products |
| By Offering | Installation & Commissioning, Maintenance, and Upgradation |
| By End Use | Communication, Oil & Gas, Others |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more |
| By Region | North America, Europe, Asia-Pacific, Latin America, Middle East & Africa |
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Submarine optical fiber cable Market Growth Drivers:
- Growing demand for high-speed internet
- Increasing government initiatives and investment in digitalization
Restraints
- High installation and maintenance cost
Opportunities
- Growing trend of deployment of 5G networks
Global Submarine Optical Fiber Cable Market Segmentation Details:
Based on type, deep-sea fiber optic cable segment accounted for the largest market share in 2022. The increasing demand for deep sea fiber optic cables is due to the increasing demand for the cable for transmitting data over loge distances. The cables are designed to span vast distances connecting continents and islands. Further, the deep-sea fiber optic cable has a higher capacity and bandwidth.
Based on product type, The multicore segment accounted for the largest market share in 2022 and anticipated to grow at a fastest CAGR. The use of multicore fiber optic cake is increasing due to growing demand for higher bandwidth. Further, the multicore cables allow parallel data transmission resulting in higher data rates and supporting the increasing data traffic requirements.
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Based on component, the wet plant products segment accounted for the largest market share in 2022. The growing demand for wet plant products owing to the advantages including seawater resistance, durability, and flexibility are driving the market growth. The submarines optic fiber cables are exposed to harsh environment of sea which can be corrosive. The wet plant products are designed in a way that cable offers excellent protection against water penetration which in turn improves the corrosive resistance.
Based on offering, the installation & commissioning segment accounted for the largest market share in 2022 owing to the exponential rise in internet traffic. The internet traffic is driven by the increased number of connected devices, cloud computing, video streaming and digital services among others. The installation of new submarine cable helps meet the growing demand for bandwidth and ensure efficient data transfer across the globe.
Based on end use, the communication segment accounting for the largest market share in 2022 is likely to growth with a highest CAGR. The several factors driving the demand for optic fiber cable in communication include increasing bandwidth requirement, global connectivity, growing number of data centers, and government initiatives among others. The need for global connectivity is growing as individuals and organizations around the world are becoming more interconnected. The submarine fiber optic cable provides infrastructure for high-speed communication between different countries.
Based on region, North American region accounted for the largest revenue share in the year 2022. The growth is attributed to the increasing internet usage in the region for a wide range of applications including digital devices, online services, and streaming platforms among others. Further, people rely on the internet for various activities including communication, entertainment, education and e-commerce among others. Consequently, the rising demand from data centers for efficient transfer of data is primarily responsible for boosting the growth of the submarine fiber optic cable market in the region.
Recent Developments
- In July 2022, NEC Corporation contracted by Seren Juno Network Co., Ltd. to build a trans-Pacific subsea fiber-optic cable, "JUNO Cable System,". The cable will provide the largest data capacity between the US and Japan, spanning a total distance of approximately 10,000 km, and is expected to be completed by the end of 2024.
- In October 2021, Xtera and GCS Pte. Ltd. launched the construction of the Galapagos Cable System. The cable system has a design capacity of 20 terabits per second and the state-of-the-art submarine system is expected to increase the regional bandwidth by more than 2,500 times.
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List of Major Global Submarine Optical Fiber Cable Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —
• Fujitsu Limited
• NEC Corporation
• Ciena Corporation
• ABB Ltd.
• SubCom
• Xtera
• Alcatel-Lucent Submarine Networks SAS
• Cable & Wireless Communications Ltd.
• NTT World Engineering Marine Corporation
• S. B. Submarine Systems Co., Ltd.
• Seaborn Networks LLC
Global Submarine Optical Fiber Cable Market Segmentation:
- By Type
- Deep Sea Fiber Optic Cable
- Shallow Sea Fiber Optic Cable
- By Product Type
- Single Core
- Multicore
- By Component
- Wet Plant Products
- Dry Plant Products
- By Offering
- Installation & Commissioning
- Maintenance
- Upgradation
- By End Use
- Communication
- Oil & Gas
- Others
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Key Questions Covered in the Submarine optical fiber cable Market Report
- What is submarine optical fiber cable?
- Submarine optical are undersea cables that are used for transmitting data or information across continents or in between countries.
- What is the dominating segment in the submarine optical fiber cable market by type?
- In 2022, the installation & commissioning segment accounted for the highest market share of 48.21% in the overall submarine optical fiber cable market.
- Based on current market trends and future predictions, which geographical region will have the largest impact on the submarine optical fiber cable growth in the coming years?
- North America accounted for the largest revenue share in the year 2022. The increasing internet usage in the region for a wide range of applications including digital devices, online services, and streaming platforms is driving the market growth.
- Which region/country is anticipated to witness the highest CAGR during the forecast period, 2023-2030?
- Asia-Pacific is anticipated to register fastest CAGR growth during the forecast period due to rapid pace of economic growth along with digitalization trend in the region.
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