The cloud Submarine Cables segment is witnessing high growth in the global submarine cables market. With increasing demand for cloud-based services across various industry verticals, the need for high bandwidth and low latency connectivity for cloud infrastructure is also growing. This is fueling the growth of the cloud submarine cables segment in the global Submarine Cables Market.

Market Overview:
Submarine cables are high capacity telecommunication cables running under oceans and seas which are used to transmit telecommunication signals between countries or continents. They transmit telecommunications data between cities, countries and continents. Submarine cables provide much higher bandwidth than communications satellites.

The global Submarine Cables Market is estimated to be valued at US$ 2751.81 Mn in 2023 and is expected to exhibit a CAGR of 6.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights


Market key trends:
One of the key trends in the submarine cables market is the growth in new cable deployments by major cloud service providers to support their global infrastructure expansion. For instance, in 2022 Microsoft announced Project Natick to lay new submarine cables to connect its cloud regions in 38 countries. Similarly, Amazon announced Kuiper to deploy a satellite-powered broadband system with fiber optic submarine cables. Such projects are expected to drive the demand for new submarine cable networks across regions over the forecast period.
Segment Analysis
The global submarine cables market can be segmented into communication cable and power cable. The communication cable segment dominated the market in 2022 with around 80% market share owing to the increasing demand for high-speed data transmission across borders. Communication cables enable high-speed internet access through optical fiber transmission of massive amounts of data which is fueling their adoption.

Key Takeaways
The global Submarine Cables Market Growth is expected to witness high growth, exhibiting a CAGR of 6.3% over the forecast period, due to increasing demand for high bandwidth connectivity solutions globally.

Regional analysis
Asia Pacific dominated more than 35% of the market share in 2022 led by countries such as China, India, and Japan. This is majorly due to increasing investments in submarine cable projects to provide high-speed internet across countries in the region. North America is expected to grow at a highest CAGR during the forecast period owing to ongoing projects to upgrade the aging infrastructure and connect remote locations in the US and Canada.

Key players
Key players operating in the submarine cables market are Alcatel Submarine Networks, SubCom, LLC, ABB, Huawei Marine Networks Co., Ltd., NEC Corporation, NEXANS NORWAY AS, FUJITSU, Prysmian Group, Saudi Ericsson, HENGTONG GROUP CO., LTD., ZTT, Corning Incorporated, NKT A/S, Hellenic Cables Group. The Okonite Company, Apar Industries Ltd., JDR Cable Systems Ltd., AFL, Hexatronic Cables & Interconnect Systems, and LEONI Special Cables GmbH.