North America Submarine Cable System Market to 2027 - Regional Analysis and Forecasts By Service (Installation Services and Maintenance & Upgrade Services) and Application (Communication and Energy & Power)
Submarine cable system market in North America is expected to grow from US$ 2.63 Bn in 2018 to US$ 4.78 Bn by the year 2027 with a CAGR of 6.6% from the year 2019 to 2027.
The rising bandwidth demands from the content and cloud service providers are driving the growth of the submarine cable systems market. Moreover, the significant number of ongoing projects for submarine cables is anticipated to boost the submarine cable systems market growth in the near future. However, the high installation cost is expected to hinder the market growth. The complete installation cost of submarine cable system and network, as compared to traditional network lines is on the higher side, which includes material and labor cost. The installation of these cable systems is pretty labor-intensive, especially for implementing undersea connections. The cables are laid on the bed of the ocean, where the trained diver needs to deploy these cables. This task involves high investments. Further, the submarine cable system suffer disruptions through accidental cable cuts and damages. These damages may be caused due to anchors, or seismic activities in the ocean beds. Damages to the cables cause disruptions and can lead to substantial losses to the users in the value chain. Proper protection and insulation for the submarine cables is, therefore, a necessity. However, insulations add up to the costs of deploying submarine cables.
The communication application dominated the submarine cable system market in the year 2018 with the highest market share and is expected to boost its dominance during the forecast period. The submarine cable systems market is segmented by application into communication and energy & power. Increasing international bandwidth requirement and growing internet penetration is prominently driving the communication market for submarine cable systems. Further, increasing investments by content providers is proliferating the growth of the market. Further, Rise in investments for offshore renewable energy and wind farms is fueling the market potential of submarine cable system in the energy & power application.
The US led the North America submarine cable system market in 2018 with the highest market share and is expected to continue its dominance during the forecast period. US being the IT hub, there has been a huge surge in the data being transmitted that has driven the submarine cable systems market. This has further led to the implementations of subsea cables for higher data transmission speeds and bandwidth requirements. Moreover, some of the leading players are expanding their operations in the US. For instance, NEC Corporation and NEC Corporation of America stated the expansion of its offices in Washington, DC, which includes new government relation functions. The office would handle requirements of US for the areas like effective border management and counterterrorism, which in turn is expected to drive the market. The figure given below highlights the revenue share of the Mexico in the submarine cable systems market in the forecast period:
Maxico Submarine Cable System Market Revenue and Forecasts to 2027 ( US$ Mn)
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NORTH AMERICA SUBMARINE CABLE SYSTEM MARKET SEGMENTATION
Submarine Cable System Market - By Service
- Installation
- Maintenance & Upgrade
Submarine Cable System Market - By Application
- Communication
- Energy & Power
Submarine Cable System Market - By Country
- US
- Canada
- Mexico
Submarine Cable System Market - Companies Mentioned
- Fujitsu Limited
- Hawaiki Cable Limited
- Huawei Marine Networks Co., Limited
- Mitsubishi Electric Corporation
- NEC Corporation
- Nexans Sa
- Nokia Corporation
- Prysmian Group
- Subcom, LLC
- Sumitomo Electric Industries, Ltd.
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Submarine Cable Systems Market – By Service
1.3.2 North America Submarine Cable Systems Market – By Application
1.3.3 North America Submarine Cable Systems Market – By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Submarine Cable Systems Market Landscape
4.1 Market Overview
4.2 Ecosystem Analysis
4.3 PEST Analysis – North America
4.4 Expert Opinions
5. North America Submarine Cable System Market – Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Rising bandwidth demands from the content and cloud service providers
5.2 Key Market Restraints
5.2.1 Vulnerable to climatic conditions and high installation cost
5.3 Key Market Opportunities
5.3.1 Significant number of ongoing projects for submarine cables
5.4 Future Trends
5.4.1 The market is expected to be governed by content and cloud service providers
5.5 Impact Analysis of Drivers and Restraints
6. Submarine Cable System Market – North America Analysis
6.1 North America Submarine Cable Systems Market Overview
6.2 North America Submarine Cable System Market Revenue and Forecasts to 2027 (US$ Mn)
7. North America Submarine Cable Systems Market Revenue and Forecasts to 2027– Service
7.1 Overview
7.2 North America Submarine Cable Systems Market Breakdown, By Service, 2018 & 2027
7.3 Installation Services Market
7.3.1 Overview
7.3.2 Installation Services Market Forecasts and Analysis
7.4 Maintenance & Upgrade Services Market
7.4.1 Overview
7.4.2 Maintenance & Upgrade Services Market Forecasts and Analysis
8. North America Submarine Cable Systems Market Revenue and Forecasts to 2027 – Application
8.1 Overview
8.2 North America Submarine Cable Systems Market Breakdown, By Application, 2018 & 2027
8.3 Communication Market
8.3.1 Overview
8.3.2 Communication Market Forecasts and Analysis
8.4 Energy & Power Market
8.4.1 Overview
8.4.2 Energy & Power Market Forecasts and Analysis
9. North America Submarine Cable Systems Market Revenue and Forecasts to 2027 – Country
9.1 Overview
9.1.1 North America Submarine Cable Systems Market Revenue Breakdown, by Key Countries
9.1.1.1 U.S. Submarine Cable Systems Market Revenue Forecasts to 2027 (US$ Mn)
9.1.1.1.1 US Submarine Cable Systems Market Revenue by Service
9.1.1.1.2 US Submarine Cable Systems Market Revenue by Application
9.1.1.2 Canada Submarine Cable Systems Market Revenue Forecasts to 2027 (US$ Mn)
9.1.1.2.1 Canada Submarine Cable Systems Market Revenue by Service
9.1.1.2.2 Canada Submarine Cable Systems Market Revenue by Application
9.1.1.3 Mexico Submarine Cable Systems Market Revenue Forecasts to 2027 (US$ Mn)
9.1.1.3.1 Mexico Submarine Cable Systems Market Revenue by Service
9.1.1.3.2 Mexico Submarine Cable Systems Market Revenue by Application
10. Industry Landscape
10.1 Market Initiative
10.2 New Development
11. Submarine Cable Systems Market– Company Profiles
11.1 Huawei Marine Networks Co., Limited
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Financial Overview
11.1.4 SWOT Analysis
11.1.5 Key Developments
11.2 Subcom, LLC
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Financial Overview
11.2.4 SWOT Analysis
11.2.5 Key Developments
11.3 NEC Corporation
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Financial Overview
11.3.4 SWOT Analysis
11.3.5 Key Developments
11.4 Fujitsu Limited
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Financial Overview
11.4.4 SWOT Analysis
11.4.5 Key Developments
11.5 Nokia Corporation
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Financial Overview
11.5.4 SWOT Analysis
11.5.5 Key Developments
11.6 Hawaiki Cable Limited
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Financial Overview
11.6.4 SWOT Analysis
11.6.5 Key Developments
11.7 Sumitomo Electric Industries, Ltd.
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Financial Overview
11.7.4 SWOT Analysis
11.7.5 Key Developments
11.8 Nexans SA
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Financial Overview
11.8.4 SWOT Analysis
11.8.5 Key Developments
11.9 Prysmian Group
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Financial Overview
11.9.4 SWOT Analysis
11.9.5 Key Developments
11.10 Mitsubishi Electric Corporation
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Financial Overview
11.10.4 SWOT Analysis
11.10.5 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Glossary of Terms
LIST OF TABLES
Table 1. North America Submarine Cable Systems Market Revenue and Forecasts to 2027 (US$ Mn)
Table 2. North America Submarine Cable Systems Market Revenue and Forecasts to 2027 – By Service (US$ Mn)
Table 3. North America Submarine Cable Systems Market Revenue and Forecasts to 2027 – By Application (US$ Mn)
Table 4. US Submarine Cable Systems Market Revenue and Forecasts to 2027 – By Service (US$ Mn)
Table 5. US Submarine Cable Systems Market Revenue and Forecasts to 2027 – By Application (US$ Mn)
Table 6. Canada Submarine Cable Systems Market Revenue and Forecasts to 2027 – By Service (US$ Mn)
Table 7. Canada Submarine Cable Systems Market Revenue and Forecasts to 2027 – By Application (US$ Mn)
Table 8. Mexico Submarine Cable Systems Market Revenue and Forecasts to 2027 – By Service (US$ Mn)
Table 9. Mexico Submarine Cable Systems Market Revenue and Forecasts to 2027 – By Application (US$ Mn)
Table 10. Glossary of Term: Submarine Cable Systems Market
LIST OF FIGURES
Figure 1. North America Submarine Cable Systems Market Segmentation
Figure 2. North America Submarine Cable Systems Market Segmentation – By Country
Figure 3. Submarine Cable Systems Market, Maintenance & Upgrade Services (US$Mn), 2018 & 2027
Figure 4. Ecosystem Analysis, Submarine Cable Systems Market
Figure 5. North America PEST Analysis
Figure 6. Submarine Cable System Market Impact Analysis of Driver and Restraints
Figure 7. North America Submarine Cable System Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 8. North America Submarine Cable Systems Market Breakdown, By Service, 2018 & 2027 (%)
Figure 9. North America Installation Services Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 10. North America Maintenance & Upgrade Services Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 11. North America Submarine Cable Systems Market Breakdown, By Application, 2018 & 2027 (%)
Figure 12. North America Communication Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 13. North America Energy & Power Market Revenue and Forecasts to 2027(US$ Mn)
Figure 14. North America Submarine Cable Systems Market Revenue Breakdown By Key Countries, 2018 & 2027(%)
Figure 15. U.S. Submarine Cable Systems Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 16. Canada Submarine Cable Systems Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 17. Mexico Submarine Cable Systems Market Revenue and Forecasts to 2027 (US$ Mn)
The List of Companies - North America Submarine Cable System Market
- Fujitsu Limited
- Hawaiki Cable Limited
- Huawei Marine Networks Co., Limited
- Mitsubishi Electric Corporation
- NEC Corporation
- Nexans SA
- Nokia Corporation
- Prysmian Group
- Subcom, LLC
- Sumitomo Electric Industries, Ltd.
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America submarine cable systems market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the North America submarine cable systems market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth North America market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution.