Rising Demand for High-Speed Data Transmission Across Regions has Led to the Growth of the Global Submarine Cables Market.
HOUSTON, TEXAS, UNITED STATES, August 14, 2023/einpresswire.com / — Global Submarine Cables Market Synopsis
Submarine cables are fiber-optic communication lines laid on the ocean floor to connect continents and enable fast, large-volume data transmission worldwide. These vital infrastructure components are crucial for global internet connectivity, facilitating seamless communication, data sharing, and international business operations. Submarine cables support various digital services, including video streaming, online transactions, and real-time communication. By bridging vast distances across oceans, these cables play an essential role in modernizing global communication, fostering cultural exchange, and supporting economic growth on a global scale.
Get PDF sample report with related graphs & charts (Pre & post COVID-19 impact analysis):
Before the COVID-19 utbreak, the global submarine cables market was on a growth trajectory, driven by rising data consumption and digitalization trends. However, the pandemic disrupted operations, causing supply chain interruptions and project delays due to restricted travel and workforce limitations. This uncertainty initially slowed investments. Post-COVID-19, the market regained momentum as the crisis underscored the necessity of robust communication networks for remote work and digital interactions. The demand for increased data capacity and global connectivity persisted, revitalizing investments in submarine cable projects.
Speak to our analyst in case of queries before buying this report:
Factors Supporting the Growth of Global Submarine Cables Market
.Global Data Demand Surge: The exponential rise in global data consumption is a prominent driver for the submarine cables market. In 2021 alone, global internet traffic surpassed 4.5 zettabytes, and it is projected to reach 7.9 zettabytes by 2025. Ths data demand is propelled by streaming, cloud computing, e-commerce, and the proliferation of connected devices. Submarine cables are integral in meeting this demand, with major cables capable of transmitting terabits per second, ensuring seamless international data transmission.
.Renewable Energy Expansion: The growth of offshore wind farms and renewable energy sources is another driver. The offshore wind sector is expected to reach a cumulative capacity of over 250 GW by 2030. Submarine cables play a pivotal role in connecting these energy sources to power grids, enabling efficient transmission of renewable energy. For instance, the Dogger Bank Wind Farm in the North Sea will utilize over 2,400 km of subsea cables to connect to the UK grid.
.Globalization and Connectivity Needs: The drive for increased global connectivity, spurred by international trade, finance, and communication, is a key driver. Over 90% of global trade relies on submarine cables for data transfer. This interconnctedness has led to ongoing cable installations between continents. The Djibouti Africa Regional Express (DARE) cable system, connecting Africa, the Middle East, and Asia, demonstrates this trend. These cables facilitate real-time communication, enhancing businesses’ global operations and supporting economic growth.
View our exclusive press releases on industry global news24
Publish your press release with us for 10x reach worldwide/country Publish with ign24
For all the latest in industry news visit industryglobalnews24.com
Key Highlights of Global Submarine Cables Market
.The demand for high-capacity submarine cables is increasing as more and more people and businesses use the internet. This is driving the development of new submarine cables that can carry more data. The use of submarine cables for renewable energy projects is increasing. Submarine cables are being used to connect offshore wind farms to power grids onshore. This is helping to reduce our reliance on fossil fuels ad promote a more sustainable energy future. The development of new technologies is making submarine cables more efficient and reliable. This is leading to lower costs and improved performance for submarine cable systems which has to the upsurge in the demand and growth of the overall submarine cables market.
.The Asia Pacific region is experiencing rapid growth in the submarine cables market. This growth is propelled by the region’s increasing digitalization, population, and economic activities. Notably, the Asia-Africa-Europe-1 (AAE-1) submarine cable connects Asia, the Middle East, and Europe, catering to the region’s surging data demand. As Asia Pacific continues to lead in internet adoption and emerging technologies, the demand for robust submarine cable networks to support these activities contributes to its accelerated market growth.
Recent Developments in Global Submarine Cables Market
In July 2023, Alcatel Submarine Networks, Elettra Tlc, Medusa, and Orange have jointly announed the commencement of the construction phase for the Medusa Submarine Cable System within the Mediterranean Sea.
In March 2023, Corning Incorporated has unveiled novel optical network advancements that can reduce overall expenses and expedite installations by as much as 70%, addressing the escalating requirements for greater bandwidth. Presented during the 2023 Optical Fiber Communication Conference and Exposition (OFC) held in San Diego, California from March 7-9, these innovations encompass a fresh data center cabling solution, a high-density cable tailored for data centers and carrier networks, along with an ultra-low-loss optical fiber specially designed for robust subsea systems with high capacity and extensive long-haul networks.
Purchase the latest in-depth Global Submarine Cables Market Report:
Global Submarine Cables Market: Competitive Landscape
oABB
oAlcatel Submarine Networks
oCorning Incorporated
oHMN Technologies Co., Ltd.
oHydro Group
oJDR Cable Systems Ltd.
oJ-PowerSystems Corporation
oNEC Corporation
oNexans
oNKT A/S
oPrysmian S.p.A
oTE Connectivity
oZTT
oOther Industry Participants
Global Submarine Cables Market
By Offerings
oProduct
oElectrical Cables
MVAC
HVAC
HVDC
oFiber Optic Cables
Loose Tube Type
Tight Buffered Type
Metal Tube Type
oUmbilical Cables
oServices
oCommissioning and Deployment Services
oTesting and Maintenance
oConsulting Services
oOthers
By Filling Type
oOil/Fluid Filled Cables
oSolid Filled Cables
By End Use
oOil and Gas
oRenewable Energy
oTelecommunications
oDefense
Request for customization to meet your precise research requirements:
By Region
oNorth America (U.S., Canada, Mexico, Rest of North America)
oEurope (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe)
oAsia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest f Southeast Asia), Rest of Asia Pacific)
oMiddle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
oLatin America (Brazil, Argentina, Rest of Latin America)
Top Reports
Global Antifouling Agents Market
Global Recycled Plastics Market
Global Pet Wearable Devices Market
Global KVM Market
Global Gaming Accessories Market
Global Wood Foam Market
Global Ethyl Vinyl Ether Market
Global Industrial Adhesives Market
Global Green Ammonia Market
Global Biobased Polyesters Market
About Us:
Absolute Markets Insights assists in providing accurate and latest trends related to consumer demand, consumer behavior, sales, and growth opportunities, for the better understanding of the market, thus helping in product designing, featuring, and demanding forecasts. Our experts provide you the end-products that can provide transparency, actionable data, cross-channel deployment program, performance, accurate testing capabilities and the ability to promote ngoing optimization. From the in-depth analysis and segregation, we serve our clients to fulfill their immediate as well as ongoing research requirements. Minute analysis impact large decisions and thereby the source of business intelligence (BI) plays an important role, which keeps us upgraded with current and upcoming market scenarios.
Contact Us:
Contact Name: Shreyas Tanna
Company: Absolute Markets Insights
Email Id:
Phone: +1-510-402-1213
Website:
Shreyas Tanna
Absolute Markets Insights
+ +1 510-402-1213
email us here
MENAFN14082023003118003196ID1106850616