Global Submarine Cable System Market (2020 to 2025) - Increasing Demand for HVDC Submarine Power Cables Presents Strong Opportunities - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Submarine Cable System Market by Application (Communication (Component, Offering (Installation & Commissioning, Upgrades)), Power (Type, Voltage, End User (Offshore Wind Power Generation, Offshore Oil & Gas), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The submarine cable system market is projected to reach USD 22.0 billion by 2025 from USD 10.3 billion in 2019; it is expected to grow at a CAGR of 11.1% from 2020 to 2025.

The surge in global bandwidth demand, increasing internet connection worldwide, increasing new offshore wind capacity additions, and growing demand for inter-country & island connections are the key factors driving the growth of the submarine cable system market. However, the growing buzz around space-based internet communication could act as a challenge for the submarine communication market growth.

Upgrade segment of submarine communication cable to register highest CAGR during the forecast period.

Submarine communication cable upgrades are required to meet the capacity requirements within fixed budgets. A combination of careful planning, the right equipment, and accurate field expertise is necessary to increase undersea network capacity. Submarine communication cable upgrades have significantly changed with the introduction of coherent transmission technology. This technology combines the modulation of the amplitude, phase modulation, and polarization to transmit large volumes of information through a fiber-optic cable. Thus, innovations and upgrades in submarine communication cables enable developments in models, field trials, design methodologies, and power budget formulations to ensure successful upgrades in the coherent capacity installations of these cables.

High voltage power cable to hold the largest size of the submarine power cable market throughout the forecast period

The increasing requirement of interconnecting lands and the growing demand for power generated from offshore plants using renewable sources of energy have led to the growth of the high voltage segment of the submarine power cable market.

Submarine power cable market in APAC expected to grow at highest CAGR during the forecast period

The region is expected to witness unprecedented growth in offshore wind installations during the forecast period. According to the Global Offshore Wind Report 2019, the offshore installations in Asia are expected to have 100 GW wind capacity. Moreover, the report states that China accounted for the highest proportion of new offshore installations in 2018, both offshore (40%) and onshore (45%). Several countries in APAC are planning pilot projects or carrying out full-scale development of commercial-scale offshore wind farms to amplify offshore wind deployments in the region. This has led to an increase in the investments toward pilot projects, feasibility studies, and new installations in APAC.

Market Dynamics

Drivers

• Surge in Global Bandwidth Demand
• Increasing Internet Traffic in APAC
• Increasing Telecom Subscriptions and Internet Connections Worldwide
• Growing Demand for Inter-Country and Island Power Connections
• Increasing Number of Offshore Wind Farms

Restraints

• Regulatory, Environmental, and Complex Authorization Procedures Leading to Delays
• Entry Barriers for Start-UPS and SMEs
• Complex Repairing Procedure for Deepwater Power Cable Links

Opportunities

• Growing Investment in Deployment of High-Capacity Communications Systems By Ott Players
• Increasing Demand for Hvdc Submarine Power Cables

Challenges

• Growing Buzz Around Space-Based Internet Communications Constellations
• Redundant Links, and Natural and Human-Triggered Activities Leading to Disruptions

Companies Profiled

• Alcatel-Lucent
• Subcom
• NEC
• Prysmian
• Nexans
• Google
• Saudi Ericsson
• Hengtong
• ZTT
• NKT
• Corning Inc.
• Cablel Group
• Hesfibel
• JDR Cable Systems LTD.
• Okonite
• Apar Industries LTD.
• AFL
• Tele-Fonika Kable (Tf Kable)
• Hexatronic Cables & Interconnect Systems
• Leoni Special Cables GmbH

For more information about this report visit https://www.researchandmarkets.com/r/sh1b60