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Submarine Cables Market Will Grow At Highest Pace Owing To Rising Demand For Bandwidth

Submarine Cables Market

The submarine cable market involves the laying and operation of underwater telecommunication cables in order to connect different countries across the world. Submarine cables are used to facilitate seamless internet and telephone connections between continents. They consist of copper or fiber optic cables coated with protective layers to withstand the deep sea conditions. Some key advantages of submarine cables are high bandwidth connectivity, low latency, reliability and security. With data consumption growing exponentially driven by video streaming, mobile internet usage and cloud computing, there is a rising demand for higher bandwidth that can only be met through submarine cables.

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.). Growing consumption of internet, increased smartphone penetration and rise of hyperscale data centers has been fueling the demand for high bandwidth connectivity. Advancements in fiber optic cable technology has enabled significantly higher bandwidth transmission capacity and lower latency over long distances through submarine cables.

Technological innovations such as spatial division multiplexing, new fiber materials and repeater technologies are helping submarine cable systems carry more digital data reliably across oceans. This is addressing the rising bandwidth demand.

Market Trends

There is an increasing trend of connectivity between new city pairs globally through submarine cables investments. In the coming years, Africa and Asia Pacific regions are expected to witness major submarine cable deployments to meet the rising demand. Another key trend is the advent of reusable, environment friendly submarine cable systems using durable composite materials replacing traditional steel wire armor. This is making deployment economical and sustainable.

Market Opportunities

Growing multi-terabit capacity demand: With bandwidth consumption projected to grow exponentially, there is a need for new submarine cable systems offering multi-terabit capacities. This presents an opportunity for vendors.

Increased investments in Asia and Africa: Regions like Asia Pacific and Africa still have scope for more extensive submarine cable coverage. This will attract more investments from technology companies in the coming years.

Impact of COVID-19 on Submarine Cables Market
The COVID-19 pandemic has significantly impacted the growth of the Submarine Cables Market Demand. During the initial months of the pandemic when lockdowns were imposed globally, the demand for internet and data usage declined as people were confined to their homes with limited economic activities. This led to a reduction in the requirement for additional submarine cable capacity. Furthermore, supply chain disruptions and logistic challenges made cable deployment projects difficult to execute during 2020 and early 2021. However, as lockdowns were gradually lifted and online activities increased massively, the demand for broadband connectivity surged. This surge in demand highlighted the importance of robust and resilient submarine cable infrastructure. Going forward, the submarine cables market is expected to grow at a faster pace to accommodate the rising internet traffic worldwide and strengthen network redundancy. Infrastructure providers are also accelerating their cable deployment plans and exploring new routes to boost connectivity.

Geographical Regions with high Submarine Cables Market Value
In terms of value, the North America region accounts for the highest share in the submarine cables market currently due to the presence of major internet companies and a high density of international connections. The region witnesses enormous internet traffic owing to bandwidth-intensive applications such as video streaming, social media, online gaming etc. Besides North America, Europe and Asia Pacific are other significant markets concentrating more than 50% of the global submarine cables market value collectively.

Fastest Growing Region for Submarine Cables Market
The Asia Pacific region is anticipated to emerge as the fastest growing market for submarine cables during the forecast period from 2024 to 2031. This is attributable to increasing digitalization, rising internet usage, proliferation of smartphones and the need for inter-country connectivity in the region. Countries like China, India and Southeast Asian nations are investing heavily in submarine cable projects to boost their digital infrastructure and economies. The rising number of new entrants from the Asia Pacific is poised to drive the future growth momentum of the submarine cables industry globally.

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