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Submarine Cable Systems Market Share

Report ID: GMI9867
Published Date: Jun 2024
Report Format: PDF

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Submarine Cable Systems Market Share

Alcatel-Lucent Submarine Networks (ASN), NEC Corporation, and Hengtong Marine Cable Systems held significant market share of over 12% market share in 2023. These major players in the market compete fiercely by providing comprehensive submarine cable systems solutions. They are investing heavily in the development and expansion of their own private submarine cable networks to ensure greater control over their data transmission and to support their vast global operations.

NEC Corporation and Alcatel-Lucent Submarine Networks (ASN) are upgrading existing networks with advanced technologies to increase capacity and reliability and participating in consortiums to share the high costs associated with laying and maintaining these cables. They are focusing on strategic routes that connect major economic hubs and emerging markets, enabling them to meet the rising demand for international connectivity and data transfer.

Submarine Cable Systems Market Companies

Major players operating in the submarine cable systems industry are:

Alcatel-Lucent Submarine Networks (ASN)
Corning Incorporated
Fujitsu Limited
Global Marine Systems
Gulf Bridge International (GBI)
Hengtong Marine Cable Systems
NEC Corporation
Nexans
Orange Marine
SEACOM

Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

The market size for submarine cable systems was valued at USD 14.2 billion in 2023 and is estimated to register over 9.5% CAGR between 2024 and 2032, driven by several factors, such as the rising demand for global connectivity.

The submarine communication cables segment of the submarine cable systems market is anticipated to register over 9% CAGR from 2024 to 2032, due to the exponential growth in internet usage, cloud services, requiring high-capacity communication infrastructure.

Asia Pacific market held over 37% share in 2023 and will expand rapidly by 2032, as the region's geographical positioning makes it a critical hub for global data traffic, thus necessitating critical investment in the sector.

Alcatel-Lucent Submarine Networks (ASN), Corning Incorporated, Fujitsu Limited, Global Marine Systems, Gulf Bridge International (GBI), Hengtong Marine Cable Systems, NEC Corporation, Nexans, and Orange Marine among others.