The Submarine Optical Fiber Cable Market was valued at USD 12.68 billion in 2020, at a CAGR of over 13.51% during the forecast period (2021 - 2026). Understanding the application of technology is imperative to analyze market dynamics. This study targets presenting a detailed overview of the dynamics of the submarine fiber optic cable market over the forecast period. It focuses on the need to develop strategic insights pertaining to the global- and country-level markets, taking the technology cycles into consideration.

- The growth of this market is mainly fuelled by increasing the need for internet bandwidth, the rising deployment of cables in the oil & gas industry, rising fiber connectivity in emerging regions, such as Africa and Asia, and increasing smartphone penetration.
- The rise in the number of private project developers has resulted in a considerable rise in the length of the optical cables being laid. Unserved routes and large capacity demand has led to the confirmation of huge potential deals in the Transatlantic and Transpacific.

Key Market Trends

Growing Smartphone Penetration and Increasing Demand for Internet Bandwidth

- With the growing internet usage, the world has witnessed a rapid rise in the demand for fast bandwidth speeds, in turn driving the demand for submarine fiber optic cable systems. It is estimated that more than 40% of the global population uses the internet on a regular basis, compared to 1% in 1995. The number of internet users has grown ten folds over the last 15 years.
- Using optoelectronic devices, cables are utilized as the primary sensing element for measuring and part processing. The adoption of such a system allows acoustic frequency strain signals to be detected over large distances and in harsh environments, making it a perfect match for the monitoring of submarine optical fiber cable systems.

Southeast Asia to Register a Significant Growth During the Forecast Period

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- The growing interest of operators in Southeast Asia, to obtain the present transpacific connectivity to their shores, coupled with the increasing internet penetration in the region, is driving the demand for submarine fiber optical cables, as indicated by the planned and existing systems.
- The region is essentially a target for direct investments in the field of communications, which is implied by the investments of major companies, such as Microsoft, Facebook, and Google.

Competitive Landscape

The submarine optical fiber cable market is moderately competitive and consists of a few major players. In terms of market share, some of the players currently dominate the market. However, with the advancement in internet usage, new players are increasing their market presence thereby expanding their business footprint across the emerging economies.

- November 2019 - Sojitz Corporation, NTT Communications Corporation (NTT Com), NEC Corporation and NEC Networks & System Integration Corporation (NESIC) jointly announced today a plan to upgrade communications infrastructure connecting the major cities of Nay Pyi Taw, Yangon, Mandalay and Thilawa Special Economic Zone (SEZ), Myanmar, under an official order from Myanma Posts and Telecommunications, the countryâ largest telecommunications operator.

- April 2019 - Cable & Wireless Communications, operator of the Flow brand in the Caribbean, continues to delight customers with the addition of a new channel, CuriosityStream enabling anytime, anywhere access to fascinating shows covering the full spectrum of non-fiction programming.

Reasons to Purchase this report:

- The market estimate (ME) sheet in Excel format
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For sample report please visit: https://www.statzyreports.com/report/sr497190/submarine-optical-fiber-cable-market