Undersea Cabling Global Market Report 2024

Undersea cabling pertains to cables designed for underwater communication. It is also known as marine cable, comprising conductors encased in an insulating sheath and laid on the seabed to facilitate message transmission. Specially designed cable ships are responsible for laying underwater cables, equipped to store thousands of miles of coiled cable in their holds.

The primary offerings in the undersea cabling market encompass wet plant products and dry plant products. Wet plants involve the two beach manholes where the cable either enters or exits the water. Dry plant products consist of power feeding equipment (PFE), submarine line terminals, and land cable segments. The undersea cabling market is categorized by voltage into medium voltage and high voltage. The segmentation by type includes single-core and multicore cables. Key applications in the undersea cabling market involve communication cables and power cables. End-users in this market span offshore wind power generation, inter-country and island connections, and offshore oil and gas ventures.

The undersea cabling market research report is one of a series of new reports that provides undersea cabling market statistics, including undersea cabling industry global market size, regional shares, competitors with an undersea cabling market share, detailed undersea cabling market segments, market trends and opportunities, and any further data you may need to thrive in the undersea cabling industry. This undersea cabling market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The undersea cabling market size has grown rapidly in recent years. It will grow from $18.69 billion in 2023 to $21.23 billion in 2024 at a compound annual growth rate (CAGR) of 13.6%. The expansion observed in the historical period can be credited to the increasing global demand for the internet, the expansion of telecommunications, enhanced connectivity of data centers, and the growth of international trade and commerce, including the development of international trade routes.

The undersea cabling market size is expected to see rapid growth in the next few years. It will grow to $34.82 billion in 2028 at a compound annual growth rate (CAGR) of 13.2%. The anticipated growth in the forecast period can be ascribed to the deployment of 5G networks, the progression of renewable energy projects, advancements in submarine fiber optics, the rise of remote work and telemedicine, and a focus on climate change resilience. Key trends expected in the forecast period encompass heightened cable capacity, the expansion of diverse routes, the establishment of global internet exchange points, the integration of 5G connectivity, and the development of hybrid fiber-optic and power cables.

The growing demand for inter-country and island connections is fueling the expansion of the undersea cabling market. Enhanced international connectivity has resulted in fixed broadband penetration reaching top-tier levels in the region. A significant portion of consumers now accesses services based on Fiber-to-the-Premises (FTTP). Notably, in 2021, French Polynesia, an overseas collectivity of France, boasts one of the most advanced telecom infrastructures in the Pacific Islands. The deployment of the first submarine cable in 2010 and subsequent additions have greatly improved the country's international connectivity. Around 43% of mobile connections in the country utilize 3G networks, with LTE accounting for 12%. Predictions indicate that by 2025, LTE will constitute more than half of all connections, and it is expected that 77% of mobile subscribers will own smartphones by that time.

The increasing prevalence of data centers is anticipated to drive the growth of the undersea cabling market in the future. Data centers, housing computer systems, servers, and networking equipment, play a crucial role in storing, processing, and managing vast amounts of digital information, supporting various online services and applications. Undersea cabling within data centers enables high-speed, reliable data transmission over long distances, connecting servers and facilitating global internet connectivity. As of January 2021, there were approximately 8,000 data centers worldwide, with over 2,600 in the United States, according to the United States International Trade Commission. Consequently, the rising number of data centers is expected to be a significant driver of the undersea cabling market in the forecast period.

The evolution toward faster connectivity with 5G in undersea cabling solutions is shaping the undersea cabling market. Notably, in February 2022, global telecommunication companies Bharati Airtel and Reliance Jio invested in improving submarine cable systems' capacity to develop low-latency 5G networks expected to roll out in the next fiscal year. Bharti Airtel's participation in the SEA-ME-WE-6 undersea cable consortium aims to enhance its network's high-speed capacity, contributing to the growth of India's digital economy. Simultaneously, Reliance Jio's cable system, IAX network, facilitates direct connections between the Maldives, India, and Singapore.

Major companies in the undersea cabling market are strategically focusing on expanding existing commercial projects to gain a competitive edge. The expansion of these projects is anticipated to enhance global connectivity and support the increasing demands for data. For example, in October 2023, Google LLC entered into an agreement with the United States and Australian governments to operate undersea cables, extending internet access to a minimum of eight Pacific Ocean countries. This agreement represents an expansion of Google's existing commercial project in the region, providing connectivity to Micronesia, Kiribati, the Marshall Islands, Papua New Guinea, the Solomon Islands, Timor-Leste, Tuvalu, and Vanuatu.

In September 2021, Ciena Corporation, a US-based telecommunications networking equipment and software services supplier, acquired Vyatta Routing and switching technology from AT&T Inc. This strategic acquisition positions Ciena to continuously invest in addressing opportunities, such as transforming the edge, networks, and cloud environments, and expanding its adaptive IP solution sets. AT&T Inc., a US-based cable manufacturing company, specializes in producing undersea cables.

Major companies operating in the undersea cabling market include Alcatel-Lucent S.A., Tyco Electronics Ltd., NEC Group, Nippon Telegraph and Telephone Corporation, Huawei Technologies Co. Ltd., Infinera Corporation, Fujitsu Limited, Nexans S.A., NKT A/S, Prysmian Group, Corning Incorporated, Hexatronic Group AB, Jiangsu Zhongtian Technology Co. Ltd., LS Cable & System Ltd., SubCom LLC, Alcatel Submarine Networks Inc., TE SubCom LLC, Xtera Communications Inc., Hengtong Group Co. Ltd., Huawei Marine Networks Co. Ltd., Ciena Corporation, Optical Cable Corporation (OCC), Global Marine Group, Sumitomo Electric Industries Ltd., RTI Connectivity Pte. Ltd., Aqua Comms Limited, Hawaiki Submarine Cable LP, Seaborn Networks Inc., Southern Cross Cable Network, Vocus Group Limited, PCCW Global Ltd., MainOne Cable Company, Angola Cables S.A., Seacom Limited, Telxius Telecom S.A.

North America was the largest region in the undersea cabling market share in 2023. The Asia-Pacific was the second-largest market in the undersea cabling market. The regions covered in the global undersea cabling market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the undersea cabling market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The undersea cabling market consists of sales of submarine cables and subsea cables. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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