The global submarine cable systems market was valued at US$ 13.4 Bn in 2018 and is expected to reach US$ 30.4 Bn by 2027 with a CAGR growth rate of 9.2% in the forecast period from 2019 to 2027.
Submarine cable systems are vital in establishing global connectivity and forming the entire internet. The globalized economy today desires a highly secure and reliable internet infrastructure to support the high bandwidth applications effectively and trends of the modern world namely the cloud data centers and Software Defined Networking (SDN). Further, the exponential rise in the Datacenter Interconnect (DCI), cloud computing, artificial intelligence, Big Data, and IoT also boost the demand for robust intercontinental cable infrastructure. Such development in internet infrastructure is projected to deliver huge and potential opportunities for the submarine cable systems market.
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Submarine Cable Systems Market – List of Companies
- Huawei Marine Networks Co., Limited
- Subcom, LLC
- NEC Corporation
- Fujitsu Limited
- Nokia Corporation
- Hawaiki Cable Limited
- Sumitomo Electric Industries, Ltd.
- Nexans SA
- Prysmian Group
- Mitsubishi Electric Corporation
In the global submarine cable systems market, Middle East and Africa is anticipated to grow with the highest CAGR during the forecast period. Further, need for highly secure and reliable internet infrastructure to support the high bandwidth applications are the factors which also strengthen the submarine cable systems market. Asia Pacific holds a significant share in the submarine cable systems market, followed by North America and Europe.
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With the growing demands for increased capacity of the submarine cable systems, there is a sharp decline in the prices are witnessed over the last two-three years. It gives significant opportunities for the companies to enhance its submarine cable which further develops submarine cable systems market. Also, increasing investments by content providers is proliferating the growth of the market globally. The strong growth of internet connected users coupled with good economic growth of the regions are some factors luring the enterprise and cloud service providers to establish servers in proximity to the users enabling them to access data with reduced latency and reaction time. This directly translates to the growth in the submarine cable systems market in the region that bring about the connection between the terrestrial fiber cables with the international broadband networks.
The overall Submarine cable systems market size has been derived using both primary and secondary sources. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the submarine cable systems market. Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the submarine cable systems industry.
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Reasons To Buy
- Highlights key business priorities in order to assist companies to realign their business strategies.
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- Scrutinize in-depth global market trends and outlook coupled with the factors driving the submarine cable systems market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to segmentations like service and application.
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