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Research And Markets.
com, an international market research institution, recently released a report on European submarine cable systems, saying that the European submarine cable system market will grow at a compound annual growth rate of 5.
9% from 2019 to 2027, and its market size will reach 4.
08 billion US dollars
by 2027.
The growing global economy with the Internet at its core is the major driver
driving the growth of the submarine cable system market.
In addition, content and cloud service providers are expected to dominate the market during
the forecast period.
As the Internet geographic market grows, the need for Internet access will put heavy pressure on content delivery networks (CDNs) and cloud service providers (CSPs), leading to additional requirements
for connectivity.
These requirements for CDN and CSP will lead to diversity and redundancy, which will further drive new investments
in the submarine cable system market.
In addition, strong measures by European governments are also driving the development of this market, including the evolving European automotive industry, IT and small and medium-sized enterprises
.
However, events such as Brexit may bring major political turmoil to Europe, leading to frequent policy and legal changes, which to some extent affect the development of
the European submarine cable system market.
Nevertheless, the region has managed to make its political issues not affect business growth
in the European region.
Due to the increasing industrialization of European countries, including the development of information technology and several other sectors, European policies are undoubtedly conducive to the growth of
the market.
From the perspective of system service providers, Subcom, a subsidiary of Tyco Electronics, Alcatel Marine under Nokia, NEC of Japan, Huawei Marine of China, and cable manufacturers Prysmian, Nexans, Sumitomo Electric and Zhongtian Technology will become the main players
in the European submarine cable system market.
Research And Markets.
com, an international market research institution, recently released a report on European submarine cable systems, saying that the European submarine cable system market will grow at a compound annual growth rate of 5.
9% from 2019 to 2027, and its market size will reach 4.
08 billion US dollars
by 2027.
The growing global economy with the Internet at its core is the major driver
driving the growth of the submarine cable system market.
In addition, content and cloud service providers are expected to dominate the market during
the forecast period.
As the Internet geographic market grows, the need for Internet access will put heavy pressure on content delivery networks (CDNs) and cloud service providers (CSPs), leading to additional requirements
for connectivity.
These requirements for CDN and CSP will lead to diversity and redundancy, which will further drive new investments
in the submarine cable system market.
In addition, strong measures by European governments are also driving the development of this market, including the evolving European automotive industry, IT and small and medium-sized enterprises
.
However, events such as Brexit may bring major political turmoil to Europe, leading to frequent policy and legal changes, which to some extent affect the development of
the European submarine cable system market.
Nevertheless, the region has managed to make its political issues not affect business growth
in the European region.
Due to the increasing industrialization of European countries, including the development of information technology and several other sectors, European policies are undoubtedly conducive to the growth of
the market.
From the perspective of system service providers, Subcom, a subsidiary of Tyco Electronics, Alcatel Marine under Nokia, NEC of Japan, Huawei Marine of China, and cable manufacturers Prysmian, Nexans, Sumitomo Electric and Zhongtian Technology will become the main players
in the European submarine cable system market.
