Submarine Cable Systems Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

The Business Research Company’s Submarine Cable Systems Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

LONDON, GREATER LONDON , UK, April 20, 2022 /EINPresswire.com/ -- Strategic partnerships and the adoption of advanced technologies between companies are key trends gaining popularity in the global submarine cable systems market. Companies in the submarine cable system industry are undergoing various partnerships to develop new technologies and products. For instance, in 2021, Italy based communication solutions company, Sparkle, Telecom Italia (TIM) announced a collaboration with US based Google Cloud to build two new undersea cable systems which will expand communication routes between Europe, Africa, the Middle East and South Asia. The cable systems would contain 16 fiber optic pairs, supporting multiple fiber tenants, and open landing station, enabling competitive access to the cable termination points.

The global submarine cable system market size is expected to grow from $14.40 billion in 2021 to $16.15 billion in 2022 at a compound annual growth rate (CAGR) of 12.16%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The submarine cable market is expected to reach $26.10 billion in 2026 at a CAGR of 12.76%.

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The rising number of telecom and internet subscriptions is significantly contributing to the growth of the submarine cable system market. A submarine cable system that is laid on the seabed helps in carrying the telecommunication signals across various places by using optical fiber technology. There is rapid growth in the telecom and internet subscriptions industries as the utility of smartphones compared to normal desktops has increased rapidly, this drives the telecom and internet subscriptions. For instance, according to the Telecom regulatory authority of India, broadband Internet subscribers in India have increased from 747.41 million in 2020 to 778.09 million in 2021. According to the submarine cable systems market forecast, the rise in the number of telecom and internet subscriptions is driving the market.

Major players covered in the global submarine cable systems industry are ZTT, The Okonite Company, TE Connectivity, SubCom, Saudi Ericsson, Prysmian Group, NKT A/S, Nexans S.A., NEC Corporation, JDR Cable Systems Ltd., Huawei Marine Networks Co., Ltd., Hexatronic Cables & Interconnect Systems, HENGTONG GROUP CO. LTD, Corning Incorporated, Apar Industries, AFL, Alcatel Submarine Networks, Tele-fonika Kable, Cablel Group, Sumitomo Electric Industries, Norddeutsche Seekabelwerke GmbH, Hesfibel and Leoni Special Cables Gmbh.

TBRC’s global submarine cable systems market segments is divided by component into wet plant products, dry plant products, by type into multicore, single core, by voltage into high voltage, medium voltage, by application into communication cables, power cables, by end-user into offshore wind power generation, inter-country and island connection, offshore oil and gas.

Submarine cable systems Global Market Report 2022 – By Component (Wet Plant Products, Dry Plant Products), By Type ( Multicore, Single Core), By Voltage (High Voltage, Medium Voltage), By Application (Communication Cables, Power Cables), By End User (Offshore Wind Power Generation, Inter-Country And Island Connection, Offshore Oil And Gas) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a submarine cable systems market overview, submarine cable systems market forecast, submarine cable systems market size and submarine cable systems market growth for the whole market, submarine cable systems market segments, geographies, submarine cable systems market trends, submarine cable systems market drivers, restraints, submarine cable systems market leading competitors’ revenues, profiles, and market shares.

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