New York, May 29, 2023 (GLOBE NEWSWIRE) -- In 2033, the submarine optical fiber cables market is expected to be worth US$ 67.8 billion. In the anticipated time period between 2023 and 2033, it is set to display a CAGR of about 12.6%. By 2023, the market is probably going to be worth more than US$ 20.6 billion.
Demand for large submarine cable infrastructure is being driven by ongoing expansion of the world's telecommunications networks. Demand for smooth worldwide communication, high-speed data transmission, and dependable connectivity is what is driving this expansion.
Data generation and consumption have significantly increased over recent years. This is a result of rapid digitalization occurring in a number of sectors, including finance, e-commerce, media, and healthcare.
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Due to exponential expansion of data volumes, scalable and reliable communication solutions are needed. Foundation for sending enormous volumes of data over great distances is provided by submarine optical fiber cables.
Widespread use of cloud computing services and growth of platforms for streaming digital content have considerably raised the bandwidth needs. To address bandwidth requirements of these services, submarine optical fiber cables provide high-capacity data transmission capabilities, assuring stable and uninterrupted connectivity.
A number of important elements in the industry have contributed to tremendous development in the demand for submarine optical fiber cables in recent years. Rapid growth of the world's telecommunications networks has made it necessary to build out a sizable submarine cable infrastructure.
It is primarily driven by rising demand for dependable connectivity and high-speed data transfer. Development of digital content, cloud computing services, and exponential increase of internet users globally would all contribute to growth.
Emergence of cutting-edge technology and bandwidth-hungry applications such as online gaming, virtual reality, and video streaming has increased demand for data transfer capacity and latency reduction. With its capacity to send enormous volumes of data across great distances, submarine optical fiber cables have emerged as the go-to option to address these connection requirements.
Use of cutting-edge technologies such as wavelength division multiplexing (WDM) and coherent transmission has increased the demand for single-mode cables. These technologies need high-quality transmission channels that can improve spectral efficiency and reduce signal degradation.
Single-mode fibers are the best option for installing cutting-edge technology owing to their superior performance in delivering low signal loss and excellent spectral efficiency. These can also be applied to boost submarine cable systems' capacity.
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Key Takeaways from Submarine Optical Fiber Cable Market:
- The United States submarine optical fiber cable industry is expected to surpass US$ 13.7 billion by 2033.
- The United Kingdom submarine optical fiber cable industry expected to elevate at a CAGR of 12.2% from 2023 to 2033.
- China submarine optical fiber cable industry is expected to be worth US$ 14.8 billion by 2033.
- The single-mode segment by type is anticipated to rise at a CAGR of 12.4% from 2023 to 2033.
- Based on application, the communication segment is predicted to accelerate at a CAGR of 12.2% from 2023 to 2033.
“Growing demand for dependable & secure communication networks is a result of the interconnectedness between continents and regions for international trade, banking, and worldwide collaboration. A reliable and secure transmission medium, provided by submarine optical fiber cables, would guarantee the continued flow of vital data across international boundaries.” – says a lead analyst at Persistence Market Research (PMR)
Market Segmentation
- By Type: (Single Mode, Multi-mode)
- By Application: (Communication, Oil & Gas, Defense, Scientific Research)
Competitive Landscape
Manufacturers of submarine optical fiber cables are making significant investments in research & development to advance their products and improve cable performance. This entails creating cables with a higher capacity, enhancing signal transmission effectiveness, and strengthening cables' resistance to environmental elements such as deep-sea conditions & natural calamities.
Top Companies are
ABB Ltd., Bharti Airtel Ltd, Corning, Inc, Ciena Corporation, Amphenol Corporation, Chunghwa Telecom Co., Ltd., Belden, Inc, China Unicom Global Limited, AFL, Dialog Axiata PLC
They are always looking for methods to reduce production costs without sacrificing quality. This entails using cost-effective design & production methods, simplifying manufacturing processes, and effectively locating raw supplies.
Other businesses are increasing their worldwide footprint by setting up production facilities, research hubs, and sales offices in key places. They would be able to serve local markets more effectively, enter emerging markets, and spend less on logistics as a result.
For instance,
- A contract between SubCom LLC and the Southeast Asia-Middle East Western Europe 6 consortium (SEA-ME-WE 6) was announced to be in effect by SubCom LLC in February 2022. The business also disclosed that it would supply and set up 12 stations along an estimated 19,200 kilometers of undersea cable systems between Singapore and France. The consortium partners will be able to offer their clients greater services thanks to these additional cable lines.
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Get More Exclusive Insights into Submarine Optical Fiber Cable Market Study
Persistence Market Research (PMR), in its new offering, presents an unbiased analysis of the submarine optical fiber cable market, presenting historical market data (2018 to 2022) and forecast statistics for the period of 2023 to 2033.
The study reveals extensive growth in the submarine optical fiber cable market in terms of type (single mode, multi-mode), application (communication, oil & gas, defense, scientific research), and regions.
About the Semiconductor and Electronics Division at Persistence Market Research (PMR)
Persistence Market Research's (PMR) highly experienced semiconductor and electronics team aids companies from all over the world with their specific business intelligence needs through professional research, actionable insights, and strategic recommendations. With a library of over a thousand research and 1 million+ data points, the team has spent over a decade analyzing the technology business across 50+ countries. From start to end, the company provides unrivaled research and consulting services. Please get in touch with us to see how we can help.
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