Europe Submarine Cable System Market Size and Competitive Analysis by 2027

Submarine cable system market in Europe is expected to grow from US$ 2.38 Bn in 2018 to US$ 4.08 Bn by the year 2027 with a CAGR of 5.9% from the year 2019 to 2027.

 Up-gradation from legacy network infrastructure to advanced network infrastructure for smoothly accessing high-bandwidth content is driving the growth of the submarine cable systems market. Moreover, the large number of ongoing projects for deployment of submarine cable is anticipated to boost the submarine cable systems market growth in the near future. Submarine cables have become an important component of the digital infrastructure and play vital roles in meeting the voracious demands for data. Infrastructure developments and technological changes is growing at exponential rate in the developing economies, whereas, internet has become the backbone of the digital infrastructure in the developed nations. Besides, almost all the industry verticals are moving towards digitalization and automation, as a result the demand for better and fast internet connection is increasing drastically, and therefore is driving the demands for dense cables network, improved networking & network services, as well as, broadband connections among every sectors. Governments of various developing countries have laid their stress on the reach of high-speed internet services in urban and rural areas of their countries. A fiber optic cable ensures maximum reach out of services with very fewer attenuations, higher bandwidths, and greater reliability over long distances. Thus, there has been a meteoric rise in its implementations in various corners of the globe. The installation services dominated the submarine cable systems market in the year 2018 capturing the highest market share and is expected to boost its dominance during the forecast period. The Europe submarine cable systems market is categorized by service, further bifurcating into installation services and maintenance & repair services. The installation services include the services involved in the development of new cable systems. On the other hand, maintenance & upgrade services involve the repair/ upgrade of the cable systems owing to damages or potential defects caused by disaster or accidents through the anchor. The installation services constitute of the services including planning, route survey, profile analysis of sea-bed, cable storage & transportation, shore end installation, jointing, and subsea activities & burial. The installation of cables in the sea involves the following activities: bottom survey and cable spare loading, the connection of the cable to departure station, and the connection of cable with the terminal station. The upcoming submarine cable system projects and offshore wind farms are expected to propel the demand for the installation services in the market. The UK dominated the Europe submarine cable system market in 2018 and is expected to maintain its dominance the market throughout the forecast period. London is the most preferred location for the majority of the industry leaders such as Amazon, IBM, Lenovo, Microsoft, and CISCO. This is due to the country's rapidly burgeoning usage of applications such as storage requirements and website-hosting enabled by cloud service providers. The UK is anticipated to be one of the significant markets for technology providers. The figure given below highlights the market revenue of the rest of Europe region in the submarine cable system market in the forecast period:

Rest of Europe Submarine Cable System Market Revenue and Forecasts to 2027 ( US$ Mn)

EUROPE SUBMARINE CABLE SYSTEM MARKET SEGMENTATION

Submarine Cable Systems Market - By Service

• Installation

Maintenance & Upgrade

Submarine Cable Systems Market - By Application

• Communication
• Energy & Power

Submarine Cable Systems Market - By Country

• France
• Germany
• Italy
• UK
• Spain
• Rest of Europe

Submarine Cable System Market - Companies Mentioned

• Fujitsu Limited
• Huawei Marine Networks Co., Limited
• Mitsubishi Electric Corporation
• NEC Corporation
• Nexans SA
• Nokia Corporation
• Prysmian Group
• Subcom, LLC
• Sumitomo Electric Industries, Ltd.
• ZTT Group

Europe Submarine Cable System Report Scope