Asia Pacific Submarine Cables Market Size & Outlook
Asia Pacific submarine cables market highlights
- The Asia Pacific submarine cables market generated a revenue of USD 7,099.0 million in 2023.
- The market is expected to grow at a CAGR of 6% from 2024 to 2030.
- In terms of segment, offshore wind power generation was the largest revenue generating end use in 2023.
- Offshore wind power generation is the most lucrative end use segment registering the fastest growth during the forecast period.
Asia Pacific data book summary
| Market revenue in 2023 | USD 7,099.0 million |
| Market revenue in 2030 | USD 10,679.6 million |
| Growth rate | 6% (CAGR from 2024 to 2030) |
| Largest segment | Offshore wind power generation |
| Fastest growing segment | Offshore wind power generation |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Offshore wind power generation |
| Key market players worldwide | Alphabet Inc Class A, Nexans, Prysmian SpA, NEC Corp, SubCom, Amazon.com Inc, Microsoft Corp, NKT A/S, ZTT International |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 38.6% of the global submarine cables market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 10,679.6 million by 2030.
Offshore wind power generation was the largest segment with a revenue share of 100% in 2023. Horizon Databook has segmented the Asia Pacific submarine cables market based on offshore wind power generation covering the revenue growth of each sub-segment from 2018 to 2030.
Governments and private enterprises in the Asia Pacific have been investing heavily in developing submarine cable infrastructure to meet the growing demand for connectivity. Multiple submarine cable projects have been initiated to expand capacity, improve redundancy, and enhance network resilience.
The submarine cable market in Asia Pacific is expected to witness continued growth in the near future. The increasing demand for higher bandwidth, the advent of 5G technology, the growth of the IoT sector, and the development of emerging technologies like AI and cloud computing are anticipated to drive the demand for more submarine cable infrastructure.
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Submarine Cables Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| ZTT International | View profile | 501-1000 | Nanjing, Jiangsu, China, Asia | https://www.zttcable.com/ |
| SubCom | View profile | 1001-5000 | Eatontown, New Jersey, United States, North America | http://subcom.com |
| Prysmian SpA | View profile | 30351 | Via Chiese 6, MIlan, Italy, 20126 | https://www.prysmiangroup.com |
| Nexans | View profile | 28541 | Nexans 4, allée de l’Arche, Courbevoie, France, 92400 | http://www.nexans.com |
| NKT A/S | View profile | 4978 | Vibeholms Alle 20, Broendby, Denmark, 2605 | https://www.nkt.com |
| NEC Corp | View profile | 118527 | 7-1, Shiba 5-chome, Minato-ku, Tokyo, Japan, 108-8001 | https://www.nec.com |
| Alphabet Inc Class A | View profile | 180895 | 1600 Amphitheatre Parkway, Mountain View, CA, United States, 94043 | https://www.abc.xyz |
| Microsoft Corp | View profile | 221000 | One Microsoft Way, Redmond, WA, United States, 98052-6399 | https://www.microsoft.com |
| Amazon.com Inc | View profile | 1525000 | 410 Terry Avenue North, Seattle, WA, United States, 98109-5210 | https://www.amazon.com |
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