At 13.0% CAGR, Middle East & Africa Submarine Cable Systems Market is Projected to be Worth US$ 2,989.38 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Middle East & Africa submarine cable systems market was valued at US$ 1,122.89 million in 2022 and is expected to reach US$ 2,989.38 million by 2030, registering a CAGR of 13.0% from 2022 to 2030. Rise in adoption of cloud-based services, surge in investment in offshore wind power generation and need for reduced latency and reaction time are among the critical factors attributed to drive the Middle East & Africa submarine cable systems market growth.

As businesses widely rely on cloud computing for their operations, the demand for reliable and high-speed connectivity through submarine cables is growing. Cloud-based services have changed the way businesses operate by offering flexible, scalable, and cost-effective solutions. Organizations are leveraging cloud computing and its associated features, such as data storage, software applications, and virtual infrastructure, to streamline their operations and enhance productivity. As the adoption of these services continues to increase, the need for robust and efficient connectivity becomes significant. For instance, in the third quarter of 2023, the three leading cloud providers, namely AWS, Microsoft Azure, and Google Cloud, experienced a collective growth of 20%. This growth rate slightly exceeded the overall market growth, and these providers accounted for 65% of the total spending in the industry. In addition, submarine cable systems play a crucial role in enabling seamless connectivity for cloud-based services. These cables are a major part of global communication networks, transmitting vast amounts of data across countries with unparalleled speed and reliability. With the ever-increasing adoption of cloud computing, submarine cables have become vital infrastructure for businesses to ensure uninterrupted access to cloud-based applications and services. Moreover, cloud computing enables organizations to operate on a global scale, reaching customers and collaborating with partners across borders. Submarine cables help solidify this global connectivity, allowing businesses to leverage cloud-based services efficiently. Thus, the rising adoption of cloud-based services is expected to fuel the submarine cable systems market growth in the coming years.

On the contrary, the high initial investment and deployment costs and damage due to vulnerable climatic conditions hampers the growth of Middle East & Africa submarine cable systems market.

Based on services, the Middle East & Africa submarine cable systems market is bifurcated into installation services and maintenance & upgrade services. The installation services segment held 86.6% market share in 2022, amassing US$ 971.94 million. It is projected to garner US$ 2,473.46 million by 2030 to register 12.4% CAGR during 2022-2030.

In terms of cable capacity, the Middle East & Africa submarine cable systems market is segmented into less than 10 Tb/S, 10-20 Tb/S, 20-30 Tb/S, and more than 30 Tb/S. The 20-30 Tb/S segment held 45.1% share of Middle East & Africa submarine cable systems market in 2022, amassing US$ 505.91 million. It is anticipated to garner US$ 1,377.36 million by 2030 to expand at 13.3% CAGR during 2022-2030.

By application, the Middle East & Africa submarine cable systems market is bifurcated into communication and energy & power. The communication segment held 83.5% share of Middle East & Africa submarine cable systems market in 2022, amassing US$ 938.08 million. It is projected to garner US$ 2,445.31 million by 2030 to expand at 12.7% CAGR from 2022 to 2030.

Based on type, the Middle East & Africa submarine cable systems market is bifurcated into single core and multi-core. The single core segment held 64.3% share of Middle East & Africa submarine cable systems market in 2022, amassing US$ 721.59 million. It is predicted to garner US$ 1,857.91 million by 2030 to expand at 12.5% CAGR between 2022 and 2030.

Based on country, the Middle East & Africa submarine cable systems market is categorized into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that the Rest of Middle East & Africa captured 57.8% share of Middle East & Africa submarine cable systems market in 2022. It was assessed at US$ 649.09 million in 2022 and is likely to hit US$ 1,949.53 million by 2030, registering a CAGR of 14.7% during 2022-2030.

Key players operating in the Middle East & Africa submarine cable systems market are SubCom, LLC; Prysmian SpA; Alcatel Submarine Networks; Nexans SA; NEC Corp; Mitsubishi Electric Corp; Fujitsu Ltd; Vodafone Group Plc; and HMN Technologies Co., Ltd.; among others.

• In July-2022, HMN Tech announced that it realized the marine deployment of the Senegal Horn of Africa Regional Express (SHARE) submarine cable system, with landfalls in both Senegal and Cape Verde.
  
  

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