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Allied Market Research

Submarine Cable System Market by Type (Single Core and Multi Core), Component (Dry plant Products, and Wet Plant Products), Application (Power Cables and Communication Cable), Offering (Maintenance, Installation & Commissioning, and Upgrades): Global Opportunity Analysis and Industry Forecast, 2021–2027

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Aug 2021 | 533 Views
   
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COVID-19

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A submarine cable system is deployed on sea bed connected with land-based stations for carrying out communications across the ocean or sea. It is, therefore, the basic requirement for establishing communication between land and sea. Initially, these cable systems were used for telephone and telegraph, however, owing to advancements in technology, modern systems are used to carry out digital data. Hence, these systems find their applications in telecommunications, governments, and oil & gas. These systems are beneficial and essential in today’s era, owing to sea freight and global positioning systems. Innovations in telecommunication and the electronic systems industry pave way for the submarine cable system market size growth. 

The global submarine cable system market is segmented into type, component, application, offering, and region. Based on type, the market is further segmented into single core and multi core. In terms of application, the market is sub-divided into dry plant products, and wet plant products. Based on industry vertical, the market is bifurcated further into dry plant products, and wet plant products. Based on application, the market is bifurcated further into power cables and communication cable. By offering, the market is divided into maintenance, installation & commissioning, and upgrades. Geographically, the global market is divided across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

Key players of the submarine cable system market analyzed in the research include Subcom, NEC Corporation, Nokia Corporation, Huawei Marine networks Co. Ltd., Hawaiki Cable Limited, Nexans SA, Mitsubishi Electric Corporation, Prysmian Group,, Fujitsu ltd, and Sumitomo Electric Industries Ltd. They have adopted various strategies including new product launches, collaborations, partnerships, mergers & acquisitions, joint ventures, agreements, and others to gain a stronghold and international presence across the world.

Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis

Rise in need of submarine cable systems in offshore wind farms and increase in number of telecom networks across oceans, land and offshore. The other important growth factors of these systems are its high reliability and the capacity of the submarine cables. In addition, these cables are cost efficient, which further drives the market. High maintenance and repair cost, natural calamities, fishing and shipping activities hinder the market growth. Furthermore, rapid digitalization and modernization across the world is expected to drive the submarine cable system market growth.

New product launches to flourish the submarine cable system market

Malaysia and Indonesia deployed the SEAX-1 project in the year 2018. For this project, Nexans revealed that it will deliver and manufacture 250 kms of submarine fiber optic cable to Huawei Marine as prime supplier for construction of the SEAX-1 project. This project aims to connect Indonesia and Malaysia by providing high speed robust data connectivity to its population.

Thus, this system flourished the market, owing to rapid digitalization in these countries and increase in usage of internet.

Surge in usage in power generation industry

As the world is moving toward adoption of renewable sources of energy, governments of various countries have increased their electricity generation output by using renewable sources of energy such as wind energy. This has led to increase in number of offshore wind farms as they are integral part of the renewable power generation and cable systems. As investments and developments of the offshore wind projects has increased demand and use of submarine cable system has increased as well.

Submarine Cable System Market Scope and Structure Analysis:

Report Metric

Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2021–2027

  Forecast units

  Value (USD)

  Segments covered

  Type, Component,  Application, Offering, and Region

  Regions covered

North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa)

  Companies covered

Subcom, NEC Corporation, Nokia Corporation, Huawei Marine networks Co. Ltd., Hawaiki Cable Limited, Nexans SA, Mitsubishi Electric Corporation, Prysmian Group,, Fujitsu ltd, and Sumitomo Electric Industries Ltd.

 

COVID-19 scenario Analysis: 

  • COVID-19 has created major concerns and hardships amongst people and businesses across the globe.
  • Most companies have business continuity plans but those plans are not fully operational.
  • Ongoing crisis demand better telecommunication network and networking infrastructure, owing to shift to remote work adopted across the globe. Hence, better networks across seas and oceans would also be needed, owing of transportation of goods and services. As submarine cable systems are basic requirements for communication, their usage is going to increase. 
  • The global supply chain has been affected as manufacturing and delivery of system equipment is delayed. Moreover, projects of adopting 5G networks would be delayed further.
  • Telecommunication and system providers must be prepared to face challenges from the uncertainty caused by the pandemic.

Key benefits of the report:

  • This study presents the analytical depiction of the global submarine cable system market forecast along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global submarine cable system market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global submarine cable system industry growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed global submarine cable system market trends analysis based on competitive intensity and how the competition will take shape in coming years. 

Key segments covered:

Segments

Subsegments

  Type

  • Single core
  • Multi core

  Component

  • Dry plant Products
  • Wet Plant Products

  Application

  • Power cables
  • Communication cable

  Offerings

  • Maintenance
  • Installation & Commissioning
  • Upgrades

 

Questions answered in the Submarine Cable System Market research report:

  • Who are the leading market players active in the submarine cable system market?
  • What would be the detailed impact of COVID-19 on the market?
  • What current trends would influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the submarine cable system market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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