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According to the latest research report released by Research and Markets, an international market research institution, the compound annual growth rate of the global submarine cable market will reach 13%
from 2019 to 2026.
The report predicts that by 2026, the global submarine cable market demand is expected to reach 30.
86 billion US dollars
.
The report believes that the growing demand for grid capacity, the growth of telecom users, and the growth of Internet traffic are the major factors
contributing to the stable growth of this market.
However, high installation costs and difficulties in operation and maintenance in deep-water areas are also the constraints restraining the development of this market
.
Submarine cables, whether carrying electricity or data, need to be laid with the help of specially modified vessels, and submarine cables need to be extremely corrosion-resistant to withstand harsh environments and pressures
.
For example, submarine cables need to resist corrosion from seawater, as well as marine life such as sharks
.
On a regional basis, Asia Pacific will be the leading regional market for submarine cables during the forecast period, mainly due to significant investments in the offshore wind industry in Asia Pacific and significant growth
in demand for internet traffic.
According to the latest research report released by Research and Markets, an international market research institution, the compound annual growth rate of the global submarine cable market will reach 13%
from 2019 to 2026.
The report predicts that by 2026, the global submarine cable market demand is expected to reach 30.
86 billion US dollars
.
The report believes that the growing demand for grid capacity, the growth of telecom users, and the growth of Internet traffic are the major factors
contributing to the stable growth of this market.
However, high installation costs and difficulties in operation and maintenance in deep-water areas are also the constraints restraining the development of this market
.
Submarine cables, whether carrying electricity or data, need to be laid with the help of specially modified vessels, and submarine cables need to be extremely corrosion-resistant to withstand harsh environments and pressures
.
For example, submarine cables need to resist corrosion from seawater, as well as marine life such as sharks
.
On a regional basis, Asia Pacific will be the leading regional market for submarine cables during the forecast period, mainly due to significant investments in the offshore wind industry in Asia Pacific and significant growth
in demand for internet traffic.
