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 Market Strategic Insights
Get more information on this report
Europe Submarine Cable System Market Segmentation Analysis
Europe Submarine Cable System Market Report Highlights
Europe Submarine Cable System Report Scope
Report Attribute
Details
Market size in 2018
US$ 2.38 Billion
Market Size by 2027
US$ 4.08 Billion
CAGR (2019 - 2027)
5.9%
Historical Data
2016-2017
Forecast period
2019-2027
Segments Covered
By Service
Installation Services and Maintenance & Upgrade Services
By Application
Communication and Energy & Power
Regions and Countries Covered
Europe
UK
Germany
France
Russia
Italy
Rest of Europe
Market leaders and key company profiles
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
Get more information on this report
Europe Submarine Cable System Market Country and Regional Insights
Get more information on this report
Identical Market Reports with other Region/Countries
How big is the Europe Submarine Cable System Market?
The Europe Submarine Cable System Market is valued at US$ 2.38 Billion in 2018, it is projected to reach US$ 4.08 Billion by 2027.
What is the CAGR for Europe Submarine Cable System Market by (2019 - 2027)?
As per our report Europe Submarine Cable System Market, the market size is valued at US$ 2.38 Billion in 2018, projecting it to reach US$ 4.08 Billion by 2027. This translates to a CAGR of approximately 5.9% during the forecast period.
What segments are covered in this report?
The Europe Submarine Cable System Market report typically cover these key segments-
Service (Installation Services and Maintenance & Upgrade Services)
Application (Communication and Energy & Power)
What is the historic period, base year, and forecast period taken for Europe Submarine Cable System Market?
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Submarine Cable System Market report:
Historic Period : 2016-2017
Base Year : 2018
Forecast Period : 2019-2027
Who are the major players in Europe Submarine Cable System Market?
The Europe Submarine Cable System Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
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
Who should buy this report?
The Europe Submarine Cable System Market report is valuable for diverse stakeholders, including:
Investors: Provides insights for investment decisions pertaining to market growth, companies, or industry insights. Helps assess market attractiveness and potential returns.
Industry Players: Offers competitive intelligence, market sizing, and trend analysis to inform strategic planning, product development, and sales strategies.
Suppliers and Manufacturers: Helps understand market demand for components, materials, and services related to concerned industry.
Researchers and Consultants: Provides data and analysis for academic research, consulting projects, and market studies.
Financial Institutions: Helps assess risks and opportunities associated with financing or investing in the concerned market.
Essentially, anyone involved in or considering involvement in the Europe Submarine Cable System Market value chain can benefit from the information contained in a comprehensive market report.
Get Free Sample For Europe Submarine Cable System Market
