According to the research report titled ‘Global Submarine Telecom Cable Market Size study, by Type (Single Armor Layer, Double Armor Layer), by Application (Oil & Gas, Others) and Regional Forecasts 2020-2027‘, available with Market Study Report, global submarine telecom cable market was remunerated at USD 11.7 billion in 2019 and is anticipated to register a y-o-y growth rate of 11.1% during 2020-2027.
 

Consumer preference for widespread internet connectivity is the key factor fueling the demand for submarine telecom cables. Inclination towards efficient services along with rise in data connectivity speed boosts the demand for higher bandwidth transmission, thereby propelling the market growth. Also, major companies such as Apple, Amazon, Google, and Microsoft are making huge investments for the development of strong communication network, hence contributing to the market outlook. However, complexity in installation & maintenance along with high costs are the major factors hampering the growth of global submarine telecom cable market over 2020-2027.
 

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For the uninitiated, submarine telecom cables are placed on seabed and are used to transmit & receive telecommunication signals from two stations on land which are separated by waterbodies. The cables are made of optical fiber technology which allows transmission of digital information while maintaining the data privacy. According to International Cable Protection Committee, in 2017, nearly 39,000 km distance was covered by SEA-ME-WE-3 submarine cable which connected 33 countries across 4 continents.
 

Based on layer type, global submarine telecom cable market is segmented into doubled armor layer and single armor layer. With respect to application scope, the industry is classified into oil & gas and others.
 

From regional frame of reference, global submarine telecom cable market is segmented into North America, Asia Pacific, Europe, Latin America, and rest of the world. Asia Pacific was a major contributor in terms of industry share in the recent past and is anticipated to witness strong growth trend during 2020-2027.  Rise in internet penetration and focus towards improving telecommunication networks along with growing demand for high efficiency services are positively swaying the business dynamics in APAC.
 

Key players operating in global submarine telecom cable market include Prysmian Group, Nexans S.A., SubCom LLC, Alcatel-Lucent S.A., NEC Corporation, Google LLC, ZTT India Private Limited, JDR Cable System, Hengtong Group Co. Ltd., NKT A/S, and Saudi Ericsson Communications Company Limited.