North America Submarine Cable Systems Market Forecast to 2030 - Regional Analysis - by Services (Installation Services and Maintenance & Upgradation), Cable Capacity (Less than 10 Tb/S, 10 - 20 Tb/S, 20-30 Tb/S, and More than 30Tb/S), Application (Communication and Energy & Power), and Type (Single Core and Multi Core)

BMIRE00030525 | Pages: 120 | Electronics and Semiconductor | Jul 2024 | Type: Regional | Status: Published

The North America submarine cable systems market was valued at US$ 2,688.80 million in 2022 and is expected to reach US$ 6,222.78 million by 2030; it is estimated to register a CAGR of 11.1% from 2022 to 2030.

Rise in Data Traffic Fuels North America Submarine Cable Systems Market

With the rise of digitalization, cloud computing, and the Internet of Things (IoT), there is a growing need for high-speed and reliable connectivity across various countries and oceans. To cater to such needs, submarine cable systems act as the foundation of global internet connectivity, offering unparalleled speed and bandwidth capabilities. These undersea cables provide a massive capacity for data transmission, supporting businesses with increased bandwidth requirements and ensuring efficient and high-performance internet connectivity.

According to Ericsson, by the end of 2023, the total global mobile data traffic, excluding Fixed Wireless Access (FWA), is projected to reach 130 exabytes (EB) per month. This figure is expected to grow nearly threefold and reach 403 EB per month by 2029. When including FWA, the total mobile network traffic is estimated to reach approximately 160 EB per month by the end of 2023, and it is predicted to rise further to 563 EB per month by the end of 2029. These projections consider the assumption that the adoption of XR-type services, including AR, VR, and mixed reality (MR), will begin in the latter part of the forecast period. In addition, video traffic is estimated to represent 73% of all mobile data traffic by the end of 2023. Hence, in a progressively interconnected world, the demand for undersea communication cables is growing substantially. Advancements in cable technology, including the deployment of higher-capacity cables and the implementation of advanced transmission techniques, play a key role in enhancing global connectivity. By leveraging these innovations, businesses focus on improving communication capabilities and enhancing access to global networks to manage growing data traffic. Thus, the rise in data traffic drives the submarine cable systems market.

North America Submarine Cable Systems Market Overview

The North America submarine cable systems market is segmented into the US, Canada, and Mexico. The submarine cable systems market in North America is witnessing prominent growth due to the rising number of offshore wind projects in North America, particularly in the US. Offshore wind farms require submarine power cables to transmit electricity from wind turbines to the mainland. The need to enhance oil output and surge in demand for clean energy are driving the installation of these offshore wind projects. According to the US Department of Energy's Wind Vision Report, there are quantified benefits associated with the installation of offshore wind capacity in the US. The report states that by 2030, the country is expected to record up to 22 gigawatts of installed offshore wind with significant advantages, and this figure is likely to reach 86 gigawatts by 2050.

In the US, the Biden administration has also expressed its commitment to support the development of offshore wind energy. In 2021, the administration announced its plan to achieve 30 GW of offshore wind energy capacity by 2030. This ambitious target aligns with the goal of creating a sustainable future, supporting local communities, creating jobs, and minimizing environmental impacts. Additionally, the expansion of offshore telecommunication infrastructure supports the submarine cable systems market growth. Submarine communication cables are essential for establishing reliable and high-capacity communication networks between countries. The increasing demand for seamless international communication and data transfer drives the deployment of submarine communication cables.

North America Submarine Cable Systems Market Revenue and Forecast to 2030 (US$ Million)

North America Submarine Cable Systems Market Revenue and Forecast to 2030 (US$ Million)

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North America Submarine Cable Systems Market Segmentation 

The North America submarine cable systems market is categorized into services, cable capacity, application, type, and country.

Based on services, the North America submarine cable systems market is bifurcated into installation services and maintenance & upgrade services. The installation services segment held a larger market share in 2022.

In terms of cable capacity, the North America 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 the largest share of North America submarine cable systems market in 2022.

By application, the North America submarine cable systems market is bifurcated into communication and energy & power. The communication segment held a larger share of North America submarine cable systems market in 2022.

Based on type, the North America submarine cable systems market is bifurcated into single core and multi-core. The single core segment held a larger share of North America submarine cable systems market in 2022.

By country, the North America submarine cable systems market is segmented into the US, Canada, and Mexico. The US dominated the North America submarine cable systems market share in 2022.

Sumitomo Electric Industries Ltd; SubCom, LLC; Prysmian SpA; Alcatel Submarine Networks; Nexans SA; NEC Corp; Mitsubishi Electric Corp; Fujitsu Ltd; Vodafone Group Plc; and HMN Technologies Co., Ltd. are the some of the leading companies operating in the North America submarine cable systems market.

TABLE OF CONTENTS

 

1. Introduction

1.1 The Insight Partners Research Report Guidance

1.2 Market segmentation

2. Executive Summary

2.1 Key Insights

2.2 Market Attractiveness

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. Submarine Cable Systems Market Landscape

4.1 Overview

4.2 Ecosystem Analysis

4.2.1 Component Providers:

4.2.2 Manufacturers:

4.2.3 Distributors or Suppliers:

4.2.4 End User:

4.3 Submarine Cable System (List of Projects)

4.4 Submarine Cable System Market: Pricing Analysis

5. North America Submarine Cable Systems Market - Key Market Dynamics

5.1 Market Drivers

5.1.1 Rise in Data Traffic

5.1.2 Surge in Investment in Offshore Wind Power Generation

5.1.3 Need for Reduced Latency and Reaction Time

5.2 Market Restraints

5.2.1 High Initial Investment and Deployment Costs

5.2.2 Damage Due to Vulnerable Climatic Conditions

5.3 Market Opportunities

5.3.1 Growing Number of Projects Based on HVDC Power Transmission Technology

5.4 Future Trends

5.4.1 Rise in Adoption of Cloud-based Services

5.5 Impact of Drivers and Restraints:

6. Submarine Cable Systems Market - North America Market Analysis

6.1 Overview

6.2 Submarine Cable Systems Market Revenue (US$ Million), 2020-2030

6.3 Submarine Cable Systems Market Forecast Analysis

7. North America Submarine Cable Systems Market Analysis - by Services

7.1 Installation Services

7.1.1 Overview

7.1.2 Installation Services: Submarine Cable Systems Market - Revenue and Forecast to 2030 (US$ Million)

7.2 Maintenance and Upgradation

7.2.1 Overview

7.2.2 Maintenance and Upgradation: Submarine Cable Systems Market - Revenue and Forecast to 2030 (US$ Million)

8. North America Submarine Cable Systems Market Analysis - by Cable Capacity

8.1 Less than 10 Tb/S

8.1.1 Overview

8.1.2 Less than 10 Tb/S: Submarine Cable Systems Market - Revenue and Forecast to 2030 (US$ Million)

8.2 10 - 20 Tb/S

8.2.1 Overview

8.2.2 10 - 20 Tb/S: Submarine Cable Systems Market - Revenue and Forecast to 2030 (US$ Million)

8.3 20-30 Tb/S

8.3.1 Overview

8.3.2 20-30 Tb/S: Submarine Cable Systems Market - Revenue and Forecast to 2030 (US$ Million)

8.4 More than 30Tb/S

8.4.1 Overview

8.4.2 More than 30Tb/S: Submarine Cable Systems Market - Revenue and Forecast to 2030 (US$ Million)

9. North America Submarine Cable Systems Market Analysis - by Application

9.1 Communication

9.1.1 Overview

9.1.2 Communication: Submarine Cable Systems Market - Revenue and Forecast to 2030 (US$ Million)

9.2 Energy and Power

9.2.1 Overview

9.2.2 Energy and Power: Submarine Cable Systems Market - Revenue and Forecast to 2030 (US$ Million)

10. North America Submarine Cable Systems Market Analysis - by Type

10.1 Single Core

10.1.1 Overview

10.1.2 Single Core: Submarine Cable Systems Market - Revenue and Forecast to 2030 (US$ Million)

10.2 Multi Core

10.2.1 Overview

10.2.2 Multi Core: Submarine Cable Systems Market - Revenue and Forecast to 2030 (US$ Million)

11. North America Submarine Cable Systems Market - Country Analysis

11.1 North America Market Overview

11.1.1 North America: Submarine Cable Systems Market, By Key Country - Revenue 2022 (US$ Million)

11.1.2 North America: Submarine Cable Systems Market - Revenue and Forecast Analysis - by Country

11.1.2.1 North America: Submarine Cable Systems Market - Revenue and Forecast Analysis - by Country

11.1.2.2 United States: Submarine Cable Systems Market - Revenue and Forecast to 2030 (US$ Million)

11.1.2.2.1 United States: Submarine Cable Systems Market Breakdown, by Services

11.1.2.2.2 United States: Submarine Cable Systems Market Breakdown, by Cable Capacity

11.1.2.2.3 United States: Submarine Cable Systems Market Breakdown, by Application

11.1.2.2.4 United States: Submarine Cable Systems Market Breakdown, by Type

11.1.2.3 Canada: Submarine Cable Systems Market - Revenue and Forecast to 2030 (US$ Million)

11.1.2.3.1 Canada: Submarine Cable Systems Market Breakdown, by Services

11.1.2.3.2 Canada: Submarine Cable Systems Market Breakdown, by Cable Capacity

11.1.2.3.3 Canada: Submarine Cable Systems Market Breakdown, by Application

11.1.2.3.4 Canada: Submarine Cable Systems Market Breakdown, by Type

11.1.2.4 Mexico: Submarine Cable Systems Market - Revenue and Forecast to 2030 (US$ Million)

11.1.2.4.1 Mexico: Submarine Cable Systems Market Breakdown, by Services

11.1.2.4.2 Mexico: Submarine Cable Systems Market Breakdown, by Cable Capacity

11.1.2.4.3 Mexico: Submarine Cable Systems Market Breakdown, by Application

11.1.2.4.4 Mexico: Submarine Cable Systems Market Breakdown, by Type

12. Industry Landscape

12.1 Overview

12.2 Market Initiative

13. Company Profiles

13.1 Sumitomo Electric Industries Ltd

13.1.1 Key Facts

13.1.2 Business Description

13.1.3 Products and Services

13.1.4 Financial Overview

13.1.5 SWOT Analysis

13.1.6 Key Developments

13.2 SubCom, LLC

13.2.1 Key Facts

13.2.2 Business Description

13.2.3 Products and Services

13.2.4 Financial Overview

13.2.5 SWOT Analysis

13.2.6 Key Developments

13.3 Prysmian SpA

13.3.1 Key Facts

13.3.2 Business Description

13.3.3 Products and Services

13.3.4 Financial Overview

13.3.5 SWOT Analysis

13.3.6 Key Developments

13.4 Alcatel Submarine Networks

13.4.1 Key Facts

13.4.2 Business Description

13.4.3 Products and Services

13.4.4 Financial Overview

13.4.5 SWOT Analysis

13.4.6 Key Developments

13.5 Nexans SA

13.5.1 Key Facts

13.5.2 Business Description

13.5.3 Products and Services

13.5.4 Financial Overview

13.5.5 SWOT Analysis

13.5.6 Key Developments

13.6 NEC Corp

13.6.1 Key Facts

13.6.2 Business Description

13.6.3 Products and Services

13.6.4 Financial Overview

13.6.5 SWOT Analysis

13.6.6 Key Developments

13.7 Mitsubishi Electric Corp

13.7.1 Key Facts

13.7.2 Business Description

13.7.3 Products and Services

13.7.4 Financial Overview

13.7.5 SWOT Analysis

13.7.6 Key Developments

13.8 HMN Technologies Co., Ltd.

13.8.1 Key Facts

13.8.2 Business Description

13.8.3 Products and Services

13.8.4 Financial Overview

13.8.5 SWOT Analysis

13.8.6 Key Developments

13.9 Fujitsu Ltd

13.9.1 Key Facts

13.9.2 Business Description

13.9.3 Products and Services

13.9.4 Financial Overview

13.9.5 SWOT Analysis

13.9.6 Key Developments

13.10 Vodafone Group Plc

13.10.1 Key Facts

13.10.2 Business Description

13.10.3 Financial Overview

13.10.4 SWOT Analysis

13.10.5 Key Developments

14. Appendix

14.1 Word Index

14.2 About the Insight Partners

List of Tables

Table 1. Submarine Cable Systems Market segmentation

Table 2. List of Vendors in the Value Chain:

Table 3. Submarine Cable Systems Market - Revenue and Forecast to 2030 (US$ Million)

Table 4. Submarine Cable Systems Market - Revenue and Forecast to 2030 (US$ Million) - by Services

Table 5. Submarine Cable Systems Market - Revenue and Forecast to 2030 (US$ Million) - by Cable Capacity

Table 6. Submarine Cable Systems Market - Revenue and Forecast to 2030 (US$ Million) - by Application

Table 7. Submarine Cable Systems Market - Revenue and Forecast to 2030 (US$ Million) - by Type

Table 8. North America: Submarine Cable Systems Market - Revenue and Forecast to 2030(US$ Million) - by Country

Table 9. United States: Submarine Cable Systems Market - Revenue and Forecast to 2030(US$ Million) - by Services

Table 10. United States: Submarine Cable Systems Market - Revenue and Forecast to 2030(US$ Million) - by Cable Capacity

Table 11. United States: Submarine Cable Systems Market - Revenue and Forecast to 2030(US$ Million) - by Application

Table 12. United States: Submarine Cable Systems Market - Revenue and Forecast to 2030(US$ Million) - by Type

Table 13. Canada: Submarine Cable Systems Market - Revenue and Forecast to 2030(US$ Million) - by Services

Table 14. Canada: Submarine Cable Systems Market - Revenue and Forecast to 2030(US$ Million) - by Cable Capacity

Table 15. Canada: Submarine Cable Systems Market - Revenue and Forecast to 2030(US$ Million) - by Application

Table 16. Canada: Submarine Cable Systems Market - Revenue and Forecast to 2030(US$ Million) - by Type

Table 17. Mexico: Submarine Cable Systems Market - Revenue and Forecast to 2030(US$ Million) - by Services

Table 18. Mexico: Submarine Cable Systems Market - Revenue and Forecast to 2030(US$ Million) - by Cable Capacity

Table 19. Mexico: Submarine Cable Systems Market - Revenue and Forecast to 2030(US$ Million) - by Application

Table 20. Mexico: Submarine Cable Systems Market - Revenue and Forecast to 2030(US$ Million) - by Type

Table 21. List of Abbreviation

List of Figures

Figure 1. Submarine Cable Systems Market segmentation, by Country

Figure 2. Ecosystem: Submarine Cable Systems Market

Figure 3. Submarine Cable Systems Market - Key Market Dynamics

Figure 4. Impact Analysis of Drivers and Restraints

Figure 5. Submarine Cable Systems Market Revenue (US$ Million), 2020-2030

Figure 6. Submarine Cable Systems Market Share (%) - by Services (2022 and 2030)

Figure 7. Installation Services: Submarine Cable Systems Market - Revenue and Forecast to 2030 (US$ Million)

Figure 8. Maintenance and Upgradation: Submarine Cable Systems Market - Revenue and Forecast to 2030 (US$ Million)

Figure 9. Submarine Cable Systems Market Share (%) - by Cable Capacity (2022 and 2030)

Figure 10. Less than 10 Tb/S: Submarine Cable Systems Market - Revenue and Forecast to 2030 (US$ Million)

Figure 11. 10 - 20 Tb/S: Submarine Cable Systems Market - Revenue and Forecast to 2030 (US$ Million)

Figure 12. 20 - 30 Tb/S: Submarine Cable Systems Market - Revenue and Forecast to 2030 (US$ Million)

Figure 13. More than 30Tb/S: Submarine Cable Systems Market - Revenue and Forecast to 2030 (US$ Million)

Figure 14. Submarine Cable Systems Market Share (%) - by Application (2022 and 2030)

Figure 15. Communication: Submarine Cable Systems Market - Revenue and Forecast to 2030 (US$ Million)

Figure 16. Energy and Power: Submarine Cable Systems Market - Revenue and Forecast to 2030 (US$ Million)

Figure 17. Submarine Cable Systems Market Share (%) - by Type (2022 and 2030)

Figure 18. Single Core: Submarine Cable Systems Market - Revenue and Forecast to 2030 (US$ Million)

Figure 19. Multi Core: Submarine Cable Systems Market - Revenue and Forecast to 2030 (US$ Million)

Figure 20. North America: Submarine Cable Systems Market, By Key Country - Revenue 2022 (US$ Million)

Figure 21. North America: Submarine Cable Systems Market Breakdown, by Key Countries, 2022 and 2030 (%)

Figure 22. United States: Submarine Cable Systems Market - Revenue and Forecast to 2030(US$ Million)

Figure 23. Canada: Submarine Cable Systems Market - Revenue and Forecast to 2030(US$ Million)

Figure 24. Mexico: Submarine Cable Systems Market - Revenue and Forecast to 2030(US$ Million)

1. Sumitomo Electric Industries Ltd 
2. SubCom, LLC 
3. Prysmian SpA 
4. Alcatel Submarine Networks 
5. Nexans SA 
6. NEC Corp 
7. Mitsubishi Electric Corp 
8. HMN Technologies Co., Ltd. 
9. Fujitsu Ltd 
10. Vodafone Group Plc 

  • 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 North America submarine cable systems 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.
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