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According to a report released by Research And Markets, an international market research organization, the global submarine cable market is expected to reach $44.
33 billion by 2030, with a compound annual growth rate of 6.
1%
during the period.
Increasing investments in offshore wind farms, inter-country and island connectivity to improve power supply and communications, and increasing investments in oil and gas deepwater drilling activities are the major factors
driving the overall market.
For example, increased investment by enterprises in the deployment of high-capacity communication systems and the growing demand for HVDC submarine power cables will provide many new opportunities to lead the industry in the future
.
Increasing internet and data traffic in regions such as Asia Pacific is a key factor
driving the market during the forecast period.
In addition, densely populated regions such as Asia Pacific, South America, and MEA are actively investing in offshore wind power
.
These investments are expected to drive the demand for
submarine power cables.
The growing demand and penetration of the internet, their collaboration with Tier 1 providers, and rising demand for bandwidth due to the rise of 5G are driving the demand for submarine communication cables
.
Regional governments around the world are committed to increasing the generation of fossil fuel-based energy sources
.
The high cost of laying cables and the difficulty of repairing and maintaining deepwater cables have had a limiting impact
on the adoption and implementation of submarine cables.
At the same time, some seabed threats, such as fishing hooks, cyclones, ships and cruise ships, have increased the need
for maintenance services.
Therefore, installation technology, materials, and cable lengths all influence the overall market growth
.
Any failure in submarine cables can result in significant costs
for the repair and redeployment process.
In terms of application market, offshore wind is the largest application segment in 2021, and it is expected that this market will generate $12.
48 billion in submarine cable demand
by 2030.
From the perspective of regional market, the Asia-Pacific region accounted for the largest share
in 2021.
Increasing offshore wind farms, increasing investments by OTT providers, and increasing data traffic in the region will drive the market during
the forecast period.
According to a report released by Research And Markets, an international market research organization, the global submarine cable market is expected to reach $44.
33 billion by 2030, with a compound annual growth rate of 6.
1%
during the period.
Increasing investments in offshore wind farms, inter-country and island connectivity to improve power supply and communications, and increasing investments in oil and gas deepwater drilling activities are the major factors
driving the overall market.
For example, increased investment by enterprises in the deployment of high-capacity communication systems and the growing demand for HVDC submarine power cables will provide many new opportunities to lead the industry in the future
.
Increasing internet and data traffic in regions such as Asia Pacific is a key factor
driving the market during the forecast period.
In addition, densely populated regions such as Asia Pacific, South America, and MEA are actively investing in offshore wind power
.
These investments are expected to drive the demand for
submarine power cables.
The growing demand and penetration of the internet, their collaboration with Tier 1 providers, and rising demand for bandwidth due to the rise of 5G are driving the demand for submarine communication cables
.
Regional governments around the world are committed to increasing the generation of fossil fuel-based energy sources
.
The high cost of laying cables and the difficulty of repairing and maintaining deepwater cables have had a limiting impact
on the adoption and implementation of submarine cables.
At the same time, some seabed threats, such as fishing hooks, cyclones, ships and cruise ships, have increased the need
for maintenance services.
Therefore, installation technology, materials, and cable lengths all influence the overall market growth
.
Any failure in submarine cables can result in significant costs
for the repair and redeployment process.
In terms of application market, offshore wind is the largest application segment in 2021, and it is expected that this market will generate $12.
48 billion in submarine cable demand
by 2030.
From the perspective of regional market, the Asia-Pacific region accounted for the largest share
in 2021.
Increasing offshore wind farms, increasing investments by OTT providers, and increasing data traffic in the region will drive the market during
the forecast period.
