Global Submarine Fiber Cable Market to Grow by $ 4.34 Billion During 2020-2024 | Featuring Alcatel Submarine Networks Ltd., Corning Inc., and Hexatronic Group AB Among Others | Technavio
Technavio estimates the global submarine fiber cable market to grow by USD 4.34 billion, progressing at a CAGR of over 15% during the forecast period.
Technavio estimates the global submarine fiber cable market to grow by USD 4.34 billion, progressing at a CAGR of over 15% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Submarine Fiber Cable Market 2020-2024 (Graphic: Business Wire)
The market is driven by the rising demand for higher bandwidth. However, fiber damage caused by human activities and fish attacks might challenge growth.
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Submarine Fiber Cable Market: Investment Source Landscape
Based on the investment source, the market witnessed maximum growth in the consortia. The segment is driven by rising investments in consortia globally. The market growth in the segment will be significant over the forecast period.
Submarine Fiber Cable Market: Geography Landscape
48% of the market’s growth originated from Europe in 2019. Factors such as rising demand for connectivity, growing necessity for faster Internet services, rapid urbanization, and development of frameworks by the European Commission are fueling the growth of the submarine fiber cable market in Europe.
Italy and Finland are the key markets for submarine fiber cable in Europe. Market growth in this region will be slower than the growth of the market in APAC and North America.
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Major Three Submarine fiber cable Market Vendors:
Alcatel Submarine Networks Ltd.
Alcatel Submarine Networks Ltd. offers OALC optical fiber cable (with vault structure) and has more than 600,000 km of submarine networks cable laid, globally.
Corning Inc.
Corning Inc. operates its business through segments such as Display Technologies, Optical Communications, Specialty Materials, Environmental Technologies, Life Sciences, and All Others. The company offers submarine fiber cable under the brand Corning and Vascade fibers which are used in advanced submarine transmission systems ranging from short unrepeatered to very long repeated transoceanic links.
Hexatronic Group AB
Hexatronic Group AB operates its business through segments such as Products and Solutions. The company offers light-weight and high-quality single-, and double armoured submarine fiber cables, which are designed for repeatered and unrepeatered systems.
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Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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