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Submarine Cable System Market Worth $22.0 Billion by 2025 - Exclusive Report by MarketsandMarkets™
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The growth of the wet plant products segment can be attributed to an increase in the demand for cables, repeaters, and branching units for laying them on the ocean beds, unlike dry plant products such as SLTE, which can be upgraded according to the bandwidth requirements.
According to the Global Wind Energy Council (GWEC), the UK is the world's largest offshore wind market and accounted for a share of ~34% of the global installed wind energy capacity in 2019. It was followed by Germany , which accounted for a share of ~28% of the total installed capacity in the same year. China accounted for a share of ~20% of the global offshore installed capacity of wind energy in 2019. Moreover, countries such as the UK, Germany , China , Japan , and Taiwan plan to invest significantly to expand and develop their regional offshore wind energy industry. These factors are expected to fuel the demand for submarine power cables for offshore wind power generation during the forecast period.
The growth of this segment can be attributed to the increased use of single-core cables as they are easy to deploy and are suitable for covering longer lengths than multicore cables. Moreover, upcoming extra-high voltage projects in APAC, Europe , and North America are expected to drive the growth of the single-core segment of the submarine power cable market during the forecast period.
Submarine Cable System Market
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Submarine communication cable systems deployed in the Trans-Pacific region aim at not only enhancing the submarine system capacity along their respective routes but also focus on edging out the competition in terms of communication latency. These new systems provide increased route diversity— especially along the southern part of the region. According to the Information Technology and Innovation Foundation (ITIF) 2019 report, ~30% of the expected deployments of submarine communication cables in the Trans-Pacific region aim at increasing capacity and reducing latency among Asia , Australia , and the US from 2019 to 2021.
Major players in the submarine power cable market include Prysmian ( Italy ), Nexans ( France ), and NKT ( Denmark ), and key players in the submarine communication cable market are Alcatel-Lucent ( France ), SubCom ( Switzerland ), and NEC Corporation ( Japan ), among others.
Cable Modem Termination System (CMTS) and Converged Cable Access Platform (CCAP) Market by Type (CMTS, and CCAP), DOCSIS Standard (DOCSIS 3.1, and DOCSIS 3.0 and Below), Application (Consumer, and Business), and Geography - Global Forecast to 2023
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