Report ID: SQMIG25F2002
Report ID:
SQMIG25F2002 |
Region:
Global |
Published Date: April, 2024
Pages:
223
|
Tables:
195 |
Figures:
80
Submarine Cable Market size was valued at USD 15.24 billion in 2022 and is poised to grow from USD 16.9 billion in 2023 to USD 37.45 billion by 2031, at a CAGR of 10.5% during the forecast period (2024-2031).
Submarine cables are simple cables placed in the sea to facilitate internet connectivity, data transmission, and power transmission from different parts of the world. Growing demand for high-speed internet and energy from different parts of the world is slated to primarily drive demand for submarine cables over the coming years. High use of lower latency and high bandwidth connections in different establishments is also projected to boost submarine cable market growth in the future. Rising demand for streaming services and the growing use of different cloud applications and services are also estimated to play a crucial role in determining the future submarine cable market growth trajectory. Rapid digitization of developing countries such as India, China, and Brazil is estimated to offer plenty of moneymaking opportunities for submarine cable companies in the long run. Surging demand for energy from the rapidly expanding world population is also slated to aid submarine cable market growth going forward. Geopolitical issues and high costs of cable laying and maintenance are projected to be key roadblocks for submarine cable companies in the future.
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Report ID: SQMIG25F2002