Submarine cable systems Global Market Report 2022
Mar 28, 2022
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, Huawei Marine Networks Co., Ltd., Hexatronic Cables & Interconnect Systems, HENGTONG GROUP CO. LTD, Corning Incorporated, Apar Industries, AFL, Alcatel Submarine Networks, Tele-fonika Kable, Cablel Group, Sumitomo Electric Industries, Norddeutsche Seekabelwerke GmbH, Hesfibel and Leoni Special Cables Gmbh. The global submarine cable system market is expected to grow from $14.40 billion in 2021 to $16.15 billion in 2022 at a compound annual growth rate (CAGR) of 12.16%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $26.10 billion in 2026 at a CAGR of 12.76%. The submarine cable system market consists of sales of submarine cable systems, equipment their maintenance services by entities (organizations, sole traders, and partnerships) that are used for interconnection between two or more regions.Submarine cables also known as marine cables are assemblies of various conductors enclosed by an insulating sheath that are present on the oceanic bed connecting two or more points. They mainly consist of landing terminating equipment, submarine optical fiber systems, and others. The rising number of telecom and internet subscriptions is significantly contributing to the growth of the submarine cable system market.A submarine cable system that is laid on the seabed helps in carrying the telecommunication signals across various places by using optical fiber technology. There is rapid growth in the telecom and internet subscriptions industries as the utility of smartphones compared to normal desktops has increased rapidly, this drives the telecom and internet subscriptions. For instance, according to the Telecom regulatory authority of India, broadband Internet subscribers in India have increased from 747.41 million in 2020 to 778.09 million in 2021. Therefore, the rise in the number of telecom and internet subscriptions is driving the telecom and internet subscriptions market. Asia pacific was the largest region in the submarine cable systems market in 2021.Asia pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. Strategic partnerships and the adoption of advanced technologies between companies are key trends gaining popularity in the submarine cable system market.Companies in the submarine cable system industry are undergoing various partnerships to develop new technologies and products. For instance, in 2021, Italy based communication solutions company, Sparkle, Telecom Italia (TIM) announced a collaboration with US based Google Cloud to build two new undersea cable systems which will expand communication routes between Europe, Africa, the Middle East and South Asia. The cable systems would contain 16 fiber optic pairs, supporting multiple fiber tenants, and open landing station, enabling competitive access to the cable termination points. In 2021, Digital9 infrastructure, a UK-based company that invests in digital infrastructure including subsea fiber, data centers, and others acquired Aqua Comms for a deal amount of $215 million.This acquisition helps the company to largely invest in a range of digital infrastructure assets including undersea cable systems. Aqua Comms is a Dublin-based company that completely specializes in subsea cable networks. The countries covered in the submarine cable systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.