The need for inter-country and island impacts increased as a result of the global submarine cable system, and new capacity expansions in the offshore wind sector are pushing the market for submarine cable systems.
JERSEY CITY, N.J., Sept. 13, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Submarine Cable System Market" By Technology (Dry Plant Products, Wet Plant Products), By Application (Communication Cables, Power Cables), By Offering (Installation And Commissioning, Maintenance), and By Geography. According to Verified Market Research, the Global Submarine Cable System Market size was estimated at USD 18.58 billion in 2022 and is expected to reach USD 52.75 billion by 2030, increasing at a CAGR of 12.23% from 2023 to 2030, according to a market analysis conducted by Verified Market Research.
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Browse in-depth TOC on "Submarine Cable System Market"
202 - Pages
126 - Tables
37 - Figures
Global Submarine Cable System Market Overview
A type of cable known as a submarine cable system connects stations on dry land and enables the transmission of telecommunication signals across huge oceanic and marine water bodies. Submarine cable systems are installed underwater to integrate communication and electrical transfer over huge areas of sea and ocean. A specialist ship is used to help lay off these wires. Submarine cable systems are working to extend cables in uncharted territory. Submarine cables are essential in the modern world, much like maritime freight and GPS.
The rise in internet users and the constant rise in internet traffic are two of the key reasons driving the global submarine cable system market toward expansion. A rise in the global submarine cable system market is anticipated during the projected period as a result of improved international connections and initiatives to spur economic growth worldwide. The high reliability and capacity of submarine cable networks are other significant aspects of the industry.
Key Developments
- In July 2021, NEC Corporation and SITA announced an organization to advance market-leading resolutions that authorize a safe walk-through portable knowledge at airports, leveraging delight particularity management platform collected with SITA Smart Path and SITA Flex.
- In October 2021, NEC Corporation declared the progress of a four-core fiber-optic submarine cable by its subordinate OCC Corporation in partnership with Sumitomo Electric.
Key Players
The major players in the market are Alcatel-Lucent, TE Connectivity, NEC Corporation, Huawei Marine, Saudi Ericsson, Prysmian, Nexans, ZTT, Hengtong Norddeutsche Seekabelwerke GmbH, and NKT.
Verified Market Research has segmented the Global Submarine Cable System Market On the basis of Technology, Application, Offering, and Geography.
- Submarine Cable System Market, By Technology
- Dry Plant Products
- Wet Plant Products
- Submarine Cable System Market, By Application
- Communication Cables
- Power Cables
- Submarine Cable System Market, By Offering
- Installation and Commissioning
- Maintenance
- Upgrades
- Submarine Cable System Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
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Top 10 Cable Assembly Companies solving global challenges with great panache
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