CHICAGO, Feb. 27, 2020 /PRNewswire/ -- According to the new market research report "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", published by MarketsandMarkets, the Submarine Cable System Market is expected to grow from USD 13.0 billion in 2020 to USD 22.0 billion by 2025 at a CAGR of 11.1%. The growth of the submarine cable system industry can be attributed to the growing number of internet connections worldwide, a surge in bandwidth globally, an increasing number of new offshore wind capacity additions, and growing demand for inter-country & island connections. Moreover, an increase in the investments for the deployment of high-capacity communication systems by over-the-top (OTT) players and increasing demand for high-voltage direct current (HVDC) submarine power cable are expected to create considerable growth opportunities for the development of the global submarine cable system sector.
Ask for PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=184625
The wet plant products segment held a larger share of the submarine communication cable market during the forecast period.
The growth of the wet plant products segment can be attributed to an increase in the demand for cables, repeaters, and branching units for laying them on the ocean beds, unlike dry plant products such as SLTE, which can be upgraded according to the bandwidth requirements.
Offshore wind power generation to hold the largest size of the submarine power cable market during the forecast period
According to the Global Wind Energy Council (GWEC), the UK is the world's largest offshore wind market and accounted for a share of ~34% of the global installed wind energy capacity in 2019. It was followed by Germany, which accounted for a share of ~28% of the total installed capacity in the same year. China accounted for a share of ~20% of the global offshore installed capacity of wind energy in 2019. Moreover, countries such as the UK, Germany, China, Japan, and Taiwan plan to invest significantly to expand and develop their regional offshore wind energy industry. These factors are expected to fuel the demand for submarine power cables for offshore wind power generation during the forecast period.
The single-core segment is projected to lead the submarine power cable market from 2020 to 2025
The growth of this segment can be attributed to the increased use of single-core cables as they are easy to deploy and are suitable for covering longer lengths than multicore cables. Moreover, upcoming extra-high voltage projects in APAC, Europe, and North America are expected to drive the growth of the single-core segment of the submarine power cable market during the forecast period.
Browse in-depth TOC on "Submarine Cable System Market"
62 - Tables
28 - Figures
150 - Pages
Inquiry Before Buying:
https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=184625
Trans-Pacific submarine communication cable market to grow rapidly in the coming years
Submarine communication cable systems deployed in the Trans-Pacific region aim at not only enhancing the submarine system capacity along their respective routes but also focus on edging out the competition in terms of communication latency. These new systems provide increased route diversity- especially along the southern part of the region. According to the Information Technology and Innovation Foundation (ITIF) 2019 report, ~30% of the expected deployments of submarine communication cables in the Trans-Pacific region aim at increasing capacity and reducing latency among Asia, Australia, and the US from 2019 to 2021.
Major players in the submarine power cable market include Prysmian (Italy), Nexans (France), and NKT (Denmark), and key players in the submarine communication cable market are Alcatel-Lucent (France), SubCom (Switzerland), and NEC Corporation (Japan), among others.
Related Reports :
Cable Modem Termination System (CMTS) and Converged Cable Access Platform (CCAP) Market by Type (CMTS, and CCAP), DOCSIS Standard (DOCSIS 3.1, and DOCSIS 3.0 and Below), Application (Consumer, and Business), and Geography - Global Forecast to 2023
About MarketsandMarkets
MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Sanjay Gupta
MarketsandMarkets INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/submarine-cable-system-market.asp
Visit Our Web Site: https://www.marketsandmarkets.com
Content Source : https://www.marketsandmarkets.com/PressReleases/submarine-cable-system.asp
Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg
