According to the new research report published by The Insight Partners, titled “Submarine Cable Systems Market – Global Analysis and Forecast to 2027”, The Global Submarine Cable Systems Market is expected to reach US$ 30.4 Bn in 2027, registering a CAGR of 9.2% during the forecast period 2019-2027.
Internet is the backbone of advancements in an economy
Developments in the developing economies have been exponential in the recent few years whereas, in the already developed nations, the internet is considered to be the backbone of the entire digital infrastructure. Dependence on various industry verticals on the internet to serve better to their customers has been increasing resulting in the explosion of data traffic. Governments of various countries worldwide have laid their stress on the reach of high-speed internet services in urban and rural areas of their countries.
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In the recent few years, the submarine cable systems market has noticed noteworthy M&A and partnership activity. Some of the significant deals include, the 2017 Hubbell Inc. has completed the acquisition of iDevices of Avon. The acquisition would help Hubbell to strengthen its way in the field of innovation with the expertise of iDevices in the Internet of Things. Another initiative in respect to the contractual alliance is undertaken by Cortem Group consolidated its presence in Saudi territory by signing an exclusive contract with SPF, Safety and Protection Factory. This new exclusive contract signed with the SPF company for the assembly, production, and distribution in Saudi Arabia and new management in charge of the Sister Company in Dubai supports Cortem Group to strengthen its presence in the Middle East in 2018.
Key findings of the study:
In the APAC region, Hong Kong holds the largest submarine cable systems market share in the Asia Pacific region. Hong Kong The liberalization of the external-facilities-based telecommunications market By the Office of Communications Authority (OFCA) in Hong Kong has led to the country adopting an open licensing regime. As a result, many submarine cable systems find Hong Kong to be an important landing site. Nevertheless, India is anticipated to be the fastest-growing region of the submarine cable market.
In the Middle East and Africa region, South Africa is expected to be the fastest-growing country, and the UAE holds the largest share in the market. Africa is experiencing high industrial and infrastructural growth. The energy sector and telecom sector in the region is growing at a high pace attributed to the increasing population and developments in international connectivity. Also, the continuous investment in UAE’s infrastructure is propelling the market growth in UAE.
Mergers and acquisitions are expected to be the key growth strategy to be adopted by players for the next two-three years. However, this strategy could impact competition; it is also expected to generate new market as well as product opportunities as recently combined companies will thrive to maintain position and profitability.
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Growing investments of content and cloud service providers
The data center footprints are extensive and have been increasing at exponential rates. However, large parts of the world are still underserved. Data centers have become increasingly important nodes of information that store, process and transfer large amounts of data, and is used by various industry sectors across the globe. As economies develop, the deployment of data centers is also expected to rise. Interconnection of these data centers is through the content distribution networks that use the submarine-based cabling for their usage. This trend is expected to provide prosperous opportunities to the market to grow and thus, positively impacting the submarine cable systems market.
Submarine Cable System Market Service Insights
The global submarine cable systems market by service is segmented into installation services and maintenance & upgrade services. The installation services segment dominates the Submarine cable systems market heavily and is expected to continue its dominance throughout the forecast period from 2019 – 2027. The upcoming submarine cable system projects and offshore wind farms are expected to propel the demand for installation services in the market.
Submarine Cable System Market Application Insights
The global submarine cable systems market by application is segmented into communication and energy & power. The communication segment dominates the submarine cable systems market heavily and is expected to continue its dominance throughout the forecast period from 2019 – 2027. The concerns for faulty lines and natural disasters are widely steering the need for submarine cable system maintenance & upgrade services.
Submarine Cable Systems Market: Competitive Landscape and Key Developments
Huawei Marine Networks Co., Limited, Subcom, LLC, NEC Corporation, Fujitsu Limited, Nokia Corporation, Hawaiki Cable Limited, Sumitomo Electric Industries, Ltd., Nexans SA, Prysmian Group, and Mitsubishi Electric Corporation are among the key players profiled in the global Submarine Cable Systems market. In addition, several other important market players were studied and analyzed during the course of this market research study to get a holistic view of the global market and its ecosystem.
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2018: NEC Corporation announced that it has signed an agreement with the Southeast Asia–Japan 2 consortium (SJC2 consortium) to build a high-performance submarine cable connecting Singapore, Thailand, Cambodia, Vietnam, Hong Kong, Taiwan, and mainland China, Korea, and Japan.
2018: Fujitsu unveiled its new Development of Novel Technology, an ultra-high capacity wavelength-division multiplexing system, to Massively Boost Optical Data Transfer Throughput Using Existing Equipment. The new technology enables the usage of multiple wavelength bands to support expanded transmission capacity between datacenters.
2018: Nexans unveiled that it will manufacture and deliver 250 kilometers of subsea fiber-optic cable to Huawei Marine as prime turnkey supplier for the construction and deployment of the SEAX-1 project. The project will connect Malaysia and Indonesia, providing the population of the region with high-speed robust connectivity.
2018: Djibouti Telecom and Somtel Declared about supply contract for Djibouti Africa Regional Express 1 (DARE1) submarine cable system with SubCom. The 5,400km DARE1 submarine cable system is expanded into eastern Africa that connects Mogadishu (Somalia), Djibouti (Djibouti), and Mombasa (Kenya).
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