Submarine Optical Fiber Cable Market, Size, Share, Growth, and Industry Analysis by Type (Single Deck Armour and Double Deck Armour) By Application (Shallow Sea and Deep Sea), Regional Insights, and Forecast To 2031

Updated On: 01 April 2024

Submarine Optical Fiber Cable Market Report Overview

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The global submarine optical fiber cable market size was USD 3144.4 million in 2021 and is expected to reach USD 4669.65 million in 2031, at a CAGR of 4.0% during the forecast period.

A submarine optical fiber cable, sometimes referred to as a submarine communication cable, is an arrangement that resembles an electrical cable but has one or more optical fibers instead of electrical conductors that are used to carry light. The optical fiber components are normally housed in a protective tube appropriate for the environment where the cable will be installed and individually coated with plastic coatings. On the ocean floor, submarine cables are put out to establish international connections.

COVID-19 Impact: Halt on Manufacturing Operations to Slower Market Growth                    

The global COVID-19 pandemic has been unprecedented and staggering, with submarine optical fiber cable experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

The ongoing COVID-19 epidemic has increased the value and significance of services provided by the telecommunications sector. For their different demands in these trying times, healthcare organizations, governmental organizations, commercial firms, and even the general public, have grown more dependent on telecommunication services. Internet connectivity became essential due to lockdowns, social isolation, and working from home, which forced users to consider novel scenarios in order to ensure business continuity.

LATEST TRENDS

"Demand from Telecom Sector to Boost Market Growth"

Submarine optical fiber connections are increasingly important since the telecom sector needs robust communication between these data centers to actualize cloud and big data concepts. Global need for more bandwidth has rapidly increased as a result of growing demand for high speed Internet due to rising internet usage. One of the key factors fueling the expansion of the submarine optical fiber cable market growth is the rising desire for more bandwidth.

Submarine Optical Fiber Cable Market Segmentation

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• By Type Analysis

As per the type, the market is classified as follows: Single Deck Armour and Double Deck Armour.  

• By Application Analysis

Based on application, the market is segmented as follows: Shallow Sea and Deep Sea.

DRIVING FACTORS

"Technological Advancements to Facilitate Market Development"

The market for submarine optical fiber cables is expected to benefit from rising demand in the entertainment and media industries. Due to the development of technology over the years, fiber optic cables have become much more useful in the transmission of cable signals. These cables are a great option for transferring data on high-definition TVs because of their improved capacity and speed. Fiber optic cables have made networking across numerous computers in a home or across several buildings faster and easier than ever before. Furthermore, the demand for fiber optic cable has been significantly impacted by the rising popularity of higher data rates as well as better audio and video quality.

"Government Spending to Promote Industry Progress"

Government financing for the construction of telecommunications infrastructure is increasing, which spurs market expansion. The government is funding research to expand and upgrade the boundaries of solicitation. The market is also growing as consumer knowledge of technology's advantages increases. One of the key reasons propelling the growth of the submarine optical fiber cable market is the increase in the adoption of fiber optic technologies around the world. The market is positively impacted by the rise in high bandwidth communication preferences and the growth of the healthcare industry.

RESTRAINING FACTORS

"Expensive Cost of Devices to Hinder Market Growth"

The expanding wireless communication systems and high startup costs can impede the growth of the global submarine optical fiber cable market throughout the anticipated period.

Submarine Optical Fiber Cable Market Regional Insights

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"Increase in Demand to Propel Market Progress in Europe"

Due to agreements with major players for forthcoming offshore oil and gas projects and wind power projects in North America, Europe is expected to play a significant role in the submarine optical fiber cable market share.

Asia Pacific is anticipated to have a sizable market share. The national part of the research also lists specific market-impacting variables and domestic market regulation changes that have an effect on the market's present and future tendencies. Data points including technical trends, porter's five forces analysis, case studies, and upstream and downstream value chain analyses are just a few of the indicators utilized to anticipate the market environment for certain nations.

KEY MARKET PLAYERS

"Market Players Focus on New Product Launches to Strengthen Market Position"

Leading players in the market are adopting various strategies to expand their presence in the market. These include R&D investments and the launch of new, technologically-advanced products in the market. Some companies are also adopting strategies such as partnerships, mergers, and acquisitions to strengthen their market position.   

List of Market Players Profiled

• Alcatel- Lucent (France)
• Prysmian (Italy)
• TESubCom (U.S.)
• Nexans (France)
• NEC (Japan)
• Corning (U.S.)
• HTGD (China)
• Fujikura (Japan)
• CommScope (U.S.)
• ZTT (China)
• General Cable (U.S.)
• Belden (U.S.)
• Aksh Optifiber (India)
• Finolex Cables (India)

REPORT COVERAGE

The report covers overall market aspects, including market segmentation based on its type and application. The report depicts a diverse group of participants that includes the market and the potential market leaders. Major factors that are expected to drive major growth in the market. The factors anticipated to expand the market share are also included in the report to offer market insights. The estimated growth of the market in the forecast period is also included in the report. The regional analysis is completed to explain the region's dominance in the global market. The factors hindering the growth of the market are discussed in detail. The SWOT analysis of the market is depicted in the report. It contains all-inclusive market details.