Dublin, Dec. 24, 2021 (GLOBE NEWSWIRE) -- The "Submarine Optical Fiber Cables - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Submarine Optical Fiber Cables Market to Reach $30.8 Billion by 2026
The ongoing COVID-19 pandemic has elevated the role and importance of telecommunication industry services. Healthcare entities, government agencies, commercial enterprises, and even the general consumers have become more reliant on telecommunication services for their various needs in the troubled times.
In early 2020, COVID-19 crisis resulted in shut down of entire countries and drove an unprecedented surge in demand for bandwidth. Homeworking, educating, communicating, socializing and entertainment all became online pursuits during lockdown. Lockdowns, social distancing, and working from home pushed users to explore new scenarios to maintain business continuity and made Internet connection a basic need. As millions of people went online for entertainment and more, total internet hits surged by 70%.
Communications service providers (CSPs) are aggressively expanding their fiber footprint and extending network capacity on fiber as well as wireless networks. Capital expenditures included advancing wireless speeds and coverage, supporting systems reliability and operational efficiency and effectiveness efforts, and the addition of homes and businesses directly to fiber-optic technology. In response to increased demand for network capacity, the wireless industry quickly deployed Wi-Fi hotspots and services in new spectrums. At the same time, many countries have continued with their introductions of the 5G network.
Amid the COVID-19 crisis, the global market for Submarine Optical Fiber Cables estimated at US$13.3 Billion in the year 2020, is projected to reach a revised size of US$30.8 Billion by 2026, growing at a CAGR of 14.3% over the analysis period. The market in the Americas is estimated at US$4.5 Billion in the year 2021. Transpacific is forecast to reach a projected market size of US$4.2 Billion by the year 2026 trailing a CAGR of 16.2% over the analysis period. Among the other noteworthy geographic markets are Intra-Asia and Transatlantic, each forecast to grow at 10.5% and 17.8% respectively over the analysis period.
Submarine optical fiber cables dominate international voice and data traffic, due largely to the advantages offered in terms of high reliability, security and capacity, cost-effectiveness on major routes. The growing prominence of Cloud and Big Data also necessitates high degree of investments into data centers dispersed across the world. For cloud and big data concepts to be realized, telecom sector requires strong connectivity between these data centers, thus further raising importance of submarine optical fiber cables.
Growing demand for high speed Internet due to the increasing internet usage has led to a rapid surge in the demand for higher bandwidth globally. This growing demand for more bandwidth has been one of the major factors driving the growth of submarine fiber cable market. Other factors that add to the market growth include large scale deployment of cables in oil and gas industry, increasing use of smart devices, and growing fiber connectivity in developing regions such as Asia and Africa.
Select Competitors (Total 119 Featured)
Alcatel-Lucent Submarine Networks SAS
Huawei Marine Networks Co. Limited
Kokusai Cable Ship Co. Ltd.
Mitsubishi Electric Corp.
Norddeutsche Seekabelwerke GmbH
NTT World Engineering Marine Corporation
S. B. Submarine Systems Co. Ltd.
Seaborn Networks LLC
Xtera Communications, Inc.
Key Topics Covered
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Impact of COVID-19 Pandemic and Looming Recession
2020 Marked as a Year of Disruption & Transformation
Need for Internet Connectivity Amidst the Pandemic Raises Significance of Submarine Cable Systems
An Introduction to Submarine Optical Fiber Cables
Historical Evolution of Submarine Communication Cables
Basic Structure of Submarine Communication Cable
Ownership Structure in Submarine Cable Industry
Submarine Cable Networks: The Lifeline of Global Communications
Global Market Prospects & Outlook
US-China Battle to Gain Control of Worldwide Internet Grid
Global Submarine Telecom Cable System Capacity: An Overview
Average Lit Capacity Continues to Grow
Multiple Ownership of Submarine Telecom Cable Systems on the Rise
A Glance at Recent Submarine Telecom Cable Systems
Submarine Fiber Optic Cable Between Australia and Antarctica to Offer Reliable Communication Service
Enhancements to MAREA Creates Record Capacity and Data Rates
Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
Fiber Optics: The Preferred Transmission Mode in Undersea Applications
Submarine Cabling Emerges to Address Data Transmission Needs
Rise in Digital Services Usage Drives Focus onto the Need to Maintain Subsea Optical Fiber Cables
Internet's Rising Contribution to Economy Fuels Need for Submarine Communication Cable Systems
Growing Demand for High Bandwidth Applications Bodes Well for the Market
Submarine Cable Systems to Benefit from the Rise in Internet-enabled Devices Resultant Need for Bandwidth Capacity Expansion
Rising Penetration of Smartphones Drives Growth of Mobile Network Traffic
5G to Further Enhance Mobile Internet Traffic
Surge in Internet Video Consumption to Trigger Deployment of Undersea Optical Fiber Cable Systems
Content Providers Emerge as Major Drivers of Growth in Submarine Cable System Development
Data Center Providers Fuel Need for Submarine Telecom Cable Systems
Demand for Data Centers Surge as Remote Working Becomes the New Normal
Shift towards Cloud-based Services and Applications Enhance Bandwidth & Capacity, Necessitating Undersea Cable Systems
Rising Deployment of Submarine Optic Fiber Cables in the Oil & Gas Industry
Unconventional Applications Provide Growth Opportunities
Creating Mesh Networks for Greater Reliability and Faster Connectivity
Service Providers Focus on Improving Flexibility of Submarine Cable Networks
Technology Advancements Promise Faster Undersea Transmissions
SDM: A High Potential Technology for Augmenting Cable Capacity
Caltech Researchers Study Submarine Cables to Sense Oceanic Earthquakes
Role of AI in Submarine Telecom Cable Systems
Infinera and Seaborn Networks Introduce Novel Submarine Network Services
Satellite Communications Present Challenges to Submarine Cable Fiber Optic Systems
Lack of New Submarine Cable System Installations: Repairs & Upgrades to Provide Growth Opportunities
Submarine Cables At Risk from Snooping and Natural Disasters
Measures to Safeguard Submarine Fiber Optic Cables
Undersea Cables Face Risk from Spy Submarines
Congestion, Political Feuds Push Subsea Cable Companies to Seek Alternate Routes
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
Total Companies Profiled: 119
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