Global Submarine Optical Fiber Cables Market is valued at approximately USD 19.25 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 14.3% over the forecast period 2022-2029. Submarine Optical Fiber Cables Subsea cables are fiber optic cables that connect countries worldwide via cables laid on the ocean floor. The size of these cables range in thousands of miles and are capable of transmitting a large volume of data rapidly from one point to another. Moreover, optical fibers that carry data are covered in silicone gel, and are also covered in multiple layers of plastic, steel wiring, copper, and nylon to provide insulation which helps in protecting the signal as well as cable from the damage from wildlife, anchors , fishing, or any other natural calamities. The increasing smartphone penetration and growing demand for the internet and growing shift towards cloud-based service are the key factors driving the market growth.
Over the years the demand and adoption of smartphones have significantly increased. For instance – according to Statista – in 2020, the total number of smartphone subscribers worldwide was estimated at 4410.79 million, and this number reached 5006 million in 2022, and as per projections, the number of users would reach USD 6162.26 million by 2028. Also, increasing demand for HVDC submarine power cables and the growing deployment of high-capacity communications systems would create a lucrative growth prospectus for the market over the forecast period. However, disruptions in service due to a lack of redundancy stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Submarine Optical Fiber Cables Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the availability of robust high-speed internet infrastructure and the presence of leading market players operating in the submarine optical fiber cables in the region. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as the rising deployment of submarine optical fiber cables and the growing number of smartphone users in the region would offer a lucrative growth prospectus for the market in the region.
Major market player included in this report are:
Alkatel-Lucent Submarine Networks SAS
Cable & Wireless Communications Ltd.
NTT World Engineering Marine Corporation
S. B. Submarine Systems Co., Ltd.
Seaborn Networks LLC
Xtera Communications, Inc.
Recent Developments in the Market:
? In October 2022, NEC Corporation entered into a contract with U.K.-based Global Marine Systems Limited for an optical submarine cable-laying ship for a period of four years. Under this contract, NEC would work towards the deployment of submarine cable systems increasing global data traffic.
Global Submarine Optical Fiber Cables Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Component, Type, Offering, Voltage, End User Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Wet Plant Products
Dry Plant Products
Installation & Commissioning
By End User
Offshore Wind Power Generation
Offshore Oil & Gas
Rest of the World