![]() ![]() Global market expansion has been fueled by the increasing focus on integrating offshore renewable energy sources and greater energy security. Submarine cables are responsible for 97% of all global internet traffic, and as internet usage grows, the demand for cables is also expected to surge. Submarine communication cables are used for international contact between countries and regions. The need for low-power cables is being influenced by the rising need for linking the power systems of various nations. They are frequently used for power transmission to oil rigs, power from offshore wind farms to power plants, and links between nations and islands. Many uses for power and communication employ submarine cables. The submarine cable market is primarily driven by rising offshore wind farm investments, rising data traffic, and expenditures made by OTT providers to meet demand. ![]() New submarine cables are still being built by Google and Facebook, for instance, the Pacific Light Cable Network, in which they are both investors.Ĭlick Here to Access a Free Sample Report of the Global Submarine Cable Market Owning new submarine cables expands the potential available to these corporations because of the enormous expansion in bandwidth. Private network operators have recently added more capacity than internet backbone providers. ![]() Key investors in new submarine cables include content companies like Facebook, Google, Amazon, and Microsoft. Also, the report examines global opportunities and competitive analysis for the Submarine Cable market. Our research report offers a 360-degree view of the Submarine Cable market’s drivers and restraints, coupled with the impact they have on demand during the projection period. “According to the latest research study, the demand for global Submarine Cable Market share & size was valued at approximately USD 25 Billion in 2021 and is expected to reach USD 26.11 billion in 2022 and is expected to reach a value of around USD 35 Billion by 2030, at a compound annual growth rate (CAGR) of about 10% during the forecast period 2022 to 2030.” Austin, TX, USA, Ma(GLOBE NEWSWIRE) - Custom Market Insights has published a new research report titled “Submarine Cable Market Size, Trends and Insights By Application (Submarine Communication Cables, Submarine Power Cables), By Voltage (Extra High Voltage, High Voltage, Medium Voltage), By Offering (Installation & Commissioning, Maintenance, Upgrade), By End-user (Offshore Wind Power Generation, Offshore Oil & Gas, Inter-Country & Island Connection), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030” in its research database. ![]()
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