LONDON--(BUSINESS WIRE)--The global submarine fiber cable market is expected to grow by USD 4.34 billion as per Technavio. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of over 15%.
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Read the 120-page report with TOC on "Submarine Fiber Cable Market Analysis Report by Investment Source (Consortia, Private enterprises, and Governments and development banks), Geography (Europe, APAC, North America, MEA, and South America), and the Segment Forecasts, 2020-2024".
The market is driven by the developments in telecommunication networks. In addition, dropping installation costs are anticipated to boost the growth of the submarine fiber cable market.
About 99% of all the international data transmissions happen through underwater cable networks. Submarine cables deployed in these networks use fiber-optic technology which is capable of transmitting data of over 200 terabits per second. These cables are crucial for the development of any country and hence, several major submarine networking projects are in process and some are expected to complete during the forecast period. For instance, in 2019, Google commissioned three new submarine cable projects, Curie, Havfrue, and HK-G. These projects are expected to be completed by 2021. Similarly, in August 2020, the Government of India launched its first-ever submarine optical fiber cable project to connect the Andaman and Nicobar Islands with the mainland. Many such developments are expected to fuel the growth of the global submarine fiber cable market during the forecast period.
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Major Five Submarine Fiber Cable Companies:
Alcatel Submarine Networks Ltd.
Alcatel Submarine Networks Ltd. operates its business through the Solutions segment. The company offers OALC optical fiber cable with a vault structure. Globally, the company has laid more than 600,000 km of submarine network cable.
Corning Inc. operates its business through segments such as Display Technologies, Optical Communications, Specialty Materials, Environmental Technologies, Life Sciences, and All Others. The company offers submarine fiber cable under the brand Corning and Vascade fibers which are used in advanced submarine transmission systems ranging from short unrepeatered to very long repeated transoceanic links.
Hexatronic Group AB
Hexatronic Group AB operates its business through segments such as Products and Solutions. The company offers various flexible submarine fiber cable designed to function at a depth of 5000 m, with or without electroding capabilities.
Huawei Marine Networks Co. Ltd
Huawei Marine Networks Co. Ltd operates its business through segments such as Products and Solutions. The company offers light-weight and high-quality single, and double-armored submarine fiber cables, which are designed for repeatered and unrepeatered systems.
Jiangsu Zhongtian Technology Co. Ltd.
Jiangsu Zhongtian Technology Co. Ltd. operates its business through segments such as Information and communication, Smart grid, Marine system, and Others. The company offers submarine fiber cables, which are designed for both the repeater and non-repeater systems, and are widely used in the telecom industry, offshore oil and gas industry, ocean observation network.
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Submarine Fiber Cable Market Investment Source Outlook (Revenue, USD Billion, 2020-2024)
- Private enterprises
- Governments and development banks
Submarine Fiber Cable Market Geography Outlook (Revenue, USD Billion, 2020-2024)
- North America
- South America
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