Latest News- Submarine Cable Market: Power cable is expected to lead the Type segment during 2025-2029

The Submarine Cable Market is being driven by Expansion of cloud computing and data centers

The Submarine Cable Market is expected to grow at a CAGR of 12.3% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 16749.7 million. Major tech corporations, including Google and Amazon, are expanding their investments in private submarine cable systems to address their escalating global data transmission requirements. These investments enable these companies to decrease dependence on external providers and secure low-latency, high-bandwidth, and secure connectivity for their cloud services and data centers. On January 15, 2025, Amazon submitted an application to the Irish Maritime Area Regulatory Authority for deploying a subsea cable linking Ireland and the US. The proposed cable would land in County Cork, with potential landing sites near Castlefreke, Rosscarbery, and Long Strand, before traversing the Celtic Sea and Atlantic Ocean to an undisclosed US East Coast location. These investments underscore the growing importance of private submarine cable systems in ensuring uninterrupted, high-performance data transmission for tech giants. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Power cable
  • Communication cable
• Component
  • Dry plant
  • Wet plant
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
    • Singapore
  • Europe
    • Germany
    • UK
    • France
  • North America
    • US
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Expansion of cloud computing and data centers
• Expansion of offshore renewable energy projects
• Deployment of submarine cables for 5G networks

However, the market also witnesses some limitations, which are as follows:

• Security and cyber threats
• Complex regulatory and permitting processes
• Environmental and geographical risks

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Market Scope in Submarine Cable Market Research Report

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Research Analysis Overview

The Submarine Cable Market plays a crucial role in the energy transition, enabling renewable energy integration into future-proof energy infrastructure and resilient power grids. Cable protection, maintenance, and undersea cable laying are essential for inter-country connections, ensuring energy connectivity and data center connectivity. Subsea cable infrastructure is key to digital infrastructure development, including green energy infrastructure and sustainable energy solutions. Marine data management is vital for data center sustainability and resilience, with underwater data storage and subsea cable deployment supporting oceanographic data and global internet infrastructure. AI and data center security are enhanced by high-speed internet connectivity, while subsea cable capacity increases the potential for cross-border power transmission and sustainable data centers.

Market Research Overview

The Submarine Cable Market is a significant segment of the larger Global Electrical Components and Equipment Market. This market encompasses businesses involved in the production of electrical cables and wires, components, and equipment. According to Technavio, the Global Electrical Components and Equipment Market size is determined by the consolidated revenue of manufacturers specializing in various product categories, including water heaters and accessories, motors, electrical distribution and protection equipment, power supplies and conditioners, sensors, meters and indicators, recorders and loggers, and safety components, among others. Furthermore, rental and leasing of electrical components and equipment to industrial, commercial, and residential consumers is also included in the market estimation. The Submarine Cable Market, specifically, focuses on the manufacturing, installation, and maintenance of underwater power transmission cables that facilitate the transfer of large volumes of data and renewable energy from power stations to distribution systems.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/