Subsea Cable Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type (Single Core and Multi Core), Voltage (Medium and High), Offering (Installation Services and Maintenance & Upgrade Services), and Application (Communication and Power)
The subsea cable market is expected to grow from US$ 16.92 billion in 2022 and is expected to reach US$ 34.16 billion by 2030; it is estimated to record a CAGR of 9.2% from 2022 to 2030.
Subsea cable is highly used to perform communications activities between countries or regions. The underground cables are responsible for around 97% of all internet traffic worldwide. Rising internet usage and growing internet traffic worldwide fuel the communication segment during the forecast period. Approximately 90% of the global data is carried by underwater communication cables. Furthermore, the overall throughput of communication cables is measured in terabits per second. They are the most valuable cable for over-the-top (OTT) communication companies like Google, Amazon, Facebook, and Microsoft. For instance, in October 2021, NEC Corporation, an IT company in Japan, plans to build a large submarine cable network with four core fiber optics for Facebook to the USA and Europe. However, the communication segment accounted for a significant share and is projected to grow significantly during the forecast period. Increasing urbanization and growing infrastructure development activities in developed and developing countries drive the market.
Global subsea cable market size is segmented by type into single core and multi core. The multi core segment is projected to grow during the forecast period. A multi core cable has 2 or more than two cores in cables, increasing its adoption in the versatile applications that require a high volume of cables. Multi core cables are designed by increasing in multi core without increasing the cable diameter with cost-per-bit benefits in the cable system. The growing demand for high-speed data transmission across long distances in subsea or ocean environments fuels the market. These cables carry four communications in the same fiber diameter, which increases cable capacity without reducing the number of fiber pairs or affecting the cable size. Multi core cables can hold 16 fiber pairs and withstand water pressures at a depth of 8,000 meters, increasing user demand and driving the subsea cable market growth.
The rising adoption of advanced technologies such as 5G and renewable energy sources drives the adoption rate of subsea cable in APAC. Moreover, growing new installation of cables in the region is creating opportunities for market growth. For instance, in August 2023, Amazon is stretching its subsea cable about 9,500 miles from the US to Asia Pacific. The cable is connecting Oregon, California, Japan, and Singapore, improving power transmission and distribution efficiency. Thus, driving the market in the region.
Nokia; SubCom, LLC; NEC Corporation; Prysmian S.p.A; NKT A/S; Furukawa Electric Co Ltd.; Hengtong Co Ltd.; Ciena Corporation; ZTT Cable; and JDR Cable Systems Ltd. are among the key subsea cable market players profiled in this market study. Several other essential subsea cable market players were analyzed for a holistic view of the market and its ecosystem.
The overall subsea cable market size has been derived using both primary and secondary sources. To begin the subsea cable market research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the subsea cable market. The process also serves the purpose of obtaining an overview and market forecast of the subsea cable market growth with respect to all market segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights about the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the subsea cable market.
Subsea cable is highly used to perform communications activities between countries or regions. The underground cables are responsible for around 97% of all internet traffic worldwide. Rising internet usage and growing internet traffic worldwide fuel the communication segment during the forecast period. Approximately 90% of the global data is carried by underwater communication cables. Furthermore, the overall throughput of communication cables is measured in terabits per second. They are the most valuable cable for over-the-top (OTT) communication companies like Google, Amazon, Facebook, and Microsoft. For instance, in October 2021, NEC Corporation, an IT company in Japan, plans to build a large submarine cable network with four core fiber optics for Facebook to the USA and Europe. However, the communication segment accounted for a significant share and is projected to grow significantly during the forecast period. Increasing urbanization and growing infrastructure development activities in developed and developing countries drive the market.
Global subsea cable market size is segmented by type into single core and multi core. The multi core segment is projected to grow during the forecast period. A multi core cable has 2 or more than two cores in cables, increasing its adoption in the versatile applications that require a high volume of cables. Multi core cables are designed by increasing in multi core without increasing the cable diameter with cost-per-bit benefits in the cable system. The growing demand for high-speed data transmission across long distances in subsea or ocean environments fuels the market. These cables carry four communications in the same fiber diameter, which increases cable capacity without reducing the number of fiber pairs or affecting the cable size. Multi core cables can hold 16 fiber pairs and withstand water pressures at a depth of 8,000 meters, increasing user demand and driving the subsea cable market growth.
The rising adoption of advanced technologies such as 5G and renewable energy sources drives the adoption rate of subsea cable in APAC. Moreover, growing new installation of cables in the region is creating opportunities for market growth. For instance, in August 2023, Amazon is stretching its subsea cable about 9,500 miles from the US to Asia Pacific. The cable is connecting Oregon, California, Japan, and Singapore, improving power transmission and distribution efficiency. Thus, driving the market in the region.
Nokia; SubCom, LLC; NEC Corporation; Prysmian S.p.A; NKT A/S; Furukawa Electric Co Ltd.; Hengtong Co Ltd.; Ciena Corporation; ZTT Cable; and JDR Cable Systems Ltd. are among the key subsea cable market players profiled in this market study. Several other essential subsea cable market players were analyzed for a holistic view of the market and its ecosystem.
The overall subsea cable market size has been derived using both primary and secondary sources. To begin the subsea cable market research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the subsea cable market. The process also serves the purpose of obtaining an overview and market forecast of the subsea cable market growth with respect to all market segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights about the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the subsea cable market.
1. INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition, Assumptions and Limitations
1.3 Market Segmentation
2. EXECUTIVE SUMMARY
2.1 Key Insights
2.2 Market Attractiveness Analysis
3. RESEARCH METHODOLOGY
4. SUBSEA CABLE MARKET LANDSCAPE
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
5. SUBSEA CABLE MARKET - KEY MARKET DYNAMICS
5.1 Key Market Drivers
5.2 Key Market Restraints
5.3 Key Market Opportunities
5.4 Future Trends
5.5 Impact Analysis of Drivers and Restraints
6. SUBSEA CABLE MARKET - GLOBAL MARKET ANALYSIS
6.1 Subsea Cable - Global Market Overview
6.2 Subsea Cable - Global Market and Forecast to 2030
7. SUBSEA CABLE MARKET – REVENUE ANALYSIS (USD MILLION) – BY TYPE, 2020-2030
7.1 Overview
7.2 Single Core
7.3 Multi Core
8. SUBSEA CABLE MARKET – REVENUE ANALYSIS (USD MILLION) – BY VOLTAGE, 2020-2030
8.1 Overview
8.2 Medium
8.3 High
9. SUBSEA CABLE MARKET – REVENUE ANALYSIS (USD MILLION) – BY OFFERINGS, 2020-2030
9.1 Overview
9.2 Installation Services
9.3 Maintenance and Upgrade Services
10. SUBSEA CABLE MARKET – REVENUE ANALYSIS (USD MILLION) – BY APPLICATION, 2020-2030
10.1 Overview
10.2 Communication
10.3 Power
11. SUBSEA CABLE MARKET - REVENUE ANALYSIS (USD MILLION), 2020-2030 – GEOGRAPHICAL ANALYSIS
11.1 North America
11.1.1 North America Subsea Cable Market Overview
11.1.2 North America Subsea Cable Market Revenue and Forecasts to 2030
11.1.3 North America Subsea Cable Market Revenue and Forecasts and Analysis - By Type
11.1.4 North America Subsea Cable Market Revenue and Forecasts and Analysis - By Voltage
11.1.5 North America Subsea Cable Market Revenue and Forecasts and Analysis - By Offerings
11.1.6 North America Subsea Cable Market Revenue and Forecasts and Analysis - By Application
11.1.7 North America Subsea Cable Market Revenue and Forecasts and Analysis - By Countries
11.1.7.1 United States Subsea Cable Market
11.1.7.1.1 United States Subsea Cable Market, by Type
11.1.7.1.2 United States Subsea Cable Market, by Voltage
11.1.7.1.3 United States Subsea Cable Market, by Offerings
11.1.7.1.4 United States Subsea Cable Market, by Application
11.1.7.2 Canada Subsea Cable Market
11.1.7.2.1 Canada Subsea Cable Market, by Type
11.1.7.2.2 Canada Subsea Cable Market, by Voltage
11.1.7.2.3 Canada Subsea Cable Market, by Offerings
11.1.7.2.4 Canada Subsea Cable Market, by Application
11.1.7.3 Mexico Subsea Cable Market
11.1.7.3.1 Mexico Subsea Cable Market, by Type
11.1.7.3.2 Mexico Subsea Cable Market, by Voltage
11.1.7.3.3 Mexico Subsea Cable Market, by Offerings
11.1.7.3.4 Mexico Subsea Cable Market, by Application
Note - Similar analysis would be provided for below mentioned regions/countries
11.2 Europe
11.2.1 Germany
11.2.2 France
11.2.3 Italy
11.2.4 United Kingdom
11.2.5 Russia
11.2.6 Rest of Europe
11.3 Asia-Pacific
11.3.1 Australia
11.3.2 China
11.3.3 India
11.3.4 Japan
11.3.5 South Korea
11.3.6 Rest of Asia-Pacific
11.4 Middle East and Africa
11.4.1 South Africa
11.4.2 Saudi Arabia
11.4.3 U.A.E
11.4.4 Rest of Middle East and Africa
11.5 South and Central America
11.5.1 Brazil
11.5.2 Argentina
11.5.3 Rest of South and Central America
12. PRE AND POST COVID-19 IMPACT
13. INDUSTRY LANDSCAPE
13.1 Mergers and Acquisitions
13.2 Agreements, Collaborations, Joint Ventures
13.3 New Product Launches
13.4 Expansions and Other Strategic Developments
14. COMPETITIVE LANDSCAPE
14.1 Heat Map Analysis by Key Players
14.2 Company Positioning and Concentration
15. SUBSEA CABLE MARKET - KEY COMPANY PROFILES
15.1 Nokia
15.1.1 Key Facts
15.1.2 Business Description
15.1.3 Products and Services
15.1.4 Financial Overview
15.1.5 SWOT Analysis
15.1.6 Key Developments
Note - Similar information would be provided for below list of companies
15.2 SubComm LLC
15.3 NEC Corporation
15.4 Prysmian S.p.A
15.5 NKT A/S
15.6 Furukawa Electric
15.7 Hengtong Group Co.Ltd
15.8 Ciena Corporation
15.9 TT Cable
15.10 JDR Cable Systems
16. APPENDIX
16.1 Glossary
16.2 About The Insight Partners
16.3 Market Intelligence Cloud
1.1 Scope of the Study
1.2 Market Definition, Assumptions and Limitations
1.3 Market Segmentation
2. EXECUTIVE SUMMARY
2.1 Key Insights
2.2 Market Attractiveness Analysis
3. RESEARCH METHODOLOGY
4. SUBSEA CABLE MARKET LANDSCAPE
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
5. SUBSEA CABLE MARKET - KEY MARKET DYNAMICS
5.1 Key Market Drivers
5.2 Key Market Restraints
5.3 Key Market Opportunities
5.4 Future Trends
5.5 Impact Analysis of Drivers and Restraints
6. SUBSEA CABLE MARKET - GLOBAL MARKET ANALYSIS
6.1 Subsea Cable - Global Market Overview
6.2 Subsea Cable - Global Market and Forecast to 2030
7. SUBSEA CABLE MARKET – REVENUE ANALYSIS (USD MILLION) – BY TYPE, 2020-2030
7.1 Overview
7.2 Single Core
7.3 Multi Core
8. SUBSEA CABLE MARKET – REVENUE ANALYSIS (USD MILLION) – BY VOLTAGE, 2020-2030
8.1 Overview
8.2 Medium
8.3 High
9. SUBSEA CABLE MARKET – REVENUE ANALYSIS (USD MILLION) – BY OFFERINGS, 2020-2030
9.1 Overview
9.2 Installation Services
9.3 Maintenance and Upgrade Services
10. SUBSEA CABLE MARKET – REVENUE ANALYSIS (USD MILLION) – BY APPLICATION, 2020-2030
10.1 Overview
10.2 Communication
10.3 Power
11. SUBSEA CABLE MARKET - REVENUE ANALYSIS (USD MILLION), 2020-2030 – GEOGRAPHICAL ANALYSIS
11.1 North America
11.1.1 North America Subsea Cable Market Overview
11.1.2 North America Subsea Cable Market Revenue and Forecasts to 2030
11.1.3 North America Subsea Cable Market Revenue and Forecasts and Analysis - By Type
11.1.4 North America Subsea Cable Market Revenue and Forecasts and Analysis - By Voltage
11.1.5 North America Subsea Cable Market Revenue and Forecasts and Analysis - By Offerings
11.1.6 North America Subsea Cable Market Revenue and Forecasts and Analysis - By Application
11.1.7 North America Subsea Cable Market Revenue and Forecasts and Analysis - By Countries
11.1.7.1 United States Subsea Cable Market
11.1.7.1.1 United States Subsea Cable Market, by Type
11.1.7.1.2 United States Subsea Cable Market, by Voltage
11.1.7.1.3 United States Subsea Cable Market, by Offerings
11.1.7.1.4 United States Subsea Cable Market, by Application
11.1.7.2 Canada Subsea Cable Market
11.1.7.2.1 Canada Subsea Cable Market, by Type
11.1.7.2.2 Canada Subsea Cable Market, by Voltage
11.1.7.2.3 Canada Subsea Cable Market, by Offerings
11.1.7.2.4 Canada Subsea Cable Market, by Application
11.1.7.3 Mexico Subsea Cable Market
11.1.7.3.1 Mexico Subsea Cable Market, by Type
11.1.7.3.2 Mexico Subsea Cable Market, by Voltage
11.1.7.3.3 Mexico Subsea Cable Market, by Offerings
11.1.7.3.4 Mexico Subsea Cable Market, by Application
Note - Similar analysis would be provided for below mentioned regions/countries
11.2 Europe
11.2.1 Germany
11.2.2 France
11.2.3 Italy
11.2.4 United Kingdom
11.2.5 Russia
11.2.6 Rest of Europe
11.3 Asia-Pacific
11.3.1 Australia
11.3.2 China
11.3.3 India
11.3.4 Japan
11.3.5 South Korea
11.3.6 Rest of Asia-Pacific
11.4 Middle East and Africa
11.4.1 South Africa
11.4.2 Saudi Arabia
11.4.3 U.A.E
11.4.4 Rest of Middle East and Africa
11.5 South and Central America
11.5.1 Brazil
11.5.2 Argentina
11.5.3 Rest of South and Central America
12. PRE AND POST COVID-19 IMPACT
13. INDUSTRY LANDSCAPE
13.1 Mergers and Acquisitions
13.2 Agreements, Collaborations, Joint Ventures
13.3 New Product Launches
13.4 Expansions and Other Strategic Developments
14. COMPETITIVE LANDSCAPE
14.1 Heat Map Analysis by Key Players
14.2 Company Positioning and Concentration
15. SUBSEA CABLE MARKET - KEY COMPANY PROFILES
15.1 Nokia
15.1.1 Key Facts
15.1.2 Business Description
15.1.3 Products and Services
15.1.4 Financial Overview
15.1.5 SWOT Analysis
15.1.6 Key Developments
Note - Similar information would be provided for below list of companies
15.2 SubComm LLC
15.3 NEC Corporation
15.4 Prysmian S.p.A
15.5 NKT A/S
15.6 Furukawa Electric
15.7 Hengtong Group Co.Ltd
15.8 Ciena Corporation
15.9 TT Cable
15.10 JDR Cable Systems
16. APPENDIX
16.1 Glossary
16.2 About The Insight Partners
16.3 Market Intelligence Cloud
