Submarine Cables Market Size, Share & Trends Analysis Report By Application (Power Cables, Communication Cables), By Voltage (Medium Voltage, High Voltage, Extra-high Voltage), By End-use, By Component, By Offerings, By Region, And Segment Forecasts, 2025 - 2030

Submarine Cables Market Summary

Widely used for both power transmission (to oil rigs, offshore wind power, and interconnections) and communication, these cables are crucial for global internet traffic, carrying approximately 97% worldwide. The escalating need for power grid interconnections and the focus on integrating offshore renewables and enhancing energy security further propel market expansion. Consequently, the demand for both power and communication submarine cables is experiencing substantial growth.

The submarine communication cables carry around 90% of the data traffic across the world. In addition, their total carrying capacity is in terabits per second. As a result, they are the most valued cables for OTT and communication providers such as Google, Amazon, Facebook, and Microsoft. For instance, in October 2021 NEC, the Japanese IT company NEC announced plans to build a huge submarine cable with four crore fiber optics for Facebook. The submarine will hold a capacity of up to 500mbps across 24 fiber pairs. Most economies consider submarine cables a vital component of the economy and have set regulations to protect them from threats. For instance, the Australian Communications and Media Authority (ACMA) has created safety zones that prohibit activities that can damage these cables linked through Australia & the Rest of the World. In addition, it legalizes the Voltage of new submarine projects. 

The communication cables have observed a surge in demand due to increased data traffic. Regions such as Europe, the Middle East, Asia Pacific, and Latin America have noted rising investments in submarine communication cables. Companies such as Google, Facebook, Amazon, Microsoft are the primary influencers of the submarine cables. Google owns 10,433 miles of submarine cables internationally and 63,605 miles in consortium with Facebook, Amazon, and Microsoft. Facebook owns 57,709 miles, Amazon owns 18,987 miles, and Microsoft owns 4,104 miles of submarine cables. Amazon’s cables run from the U.S. to the Asia Pacific region, connecting Singapore, Japan, California, and Oregon.

The efficient power transmission and distribution systems from renewable energy sources and the growth of offshore wind farms are expected to fuel the submarine cables industry growth. For instance, the Government of Japan is constructing a floating wind farm 12 miles away from the seacoast and is expected to install 140 floating wind turbines by 2020.

Growing demand has led the manufacturers to actively participate in the Voltage & commissioning, upgrades, and maintenance of the submarine cables. For instance, In January 2024, NEC Corporation announced the successful completion of a submarine cable system connecting Kochi and the Lakshadweep Islands in India. Spanning approximately 1,870 kilometers, the system offers an initial capacity of 2x100 Gbps, expandable up to 1,600 Gbps per fiber pair. This project, executed under the Government of India’s ‘Digital India’ Mission, aims to enhance digital connectivity and socio-economic development in the region. ​

Application Insights

The submarine power cable segment accounted for the largest revenue share of around 61.80% in 2024. Increased demand for inter-country and island connections and new capacity expansions in the offshore wind industry are driving the submarine cable market. Furthermore, the increasing number of offshore wind farms and the increasing electrification of offshore oil and gas networks have increased research and development activities, further increasing the requirement for submarine power cables. The application of submarine power cables is rapidly expanding within the broader submarine cable market, driven by the global shift towards renewable energy and cross-border electricity interconnections. These high-voltage cables are critical for transmitting power from offshore wind farms and linking national power grids across seas. As countries invest heavily in decarbonization and energy security, the demand for reliable, long-distance power transmission solutions is rising. This trend is encouraging manufacturers to scale up production capacity and invest in advanced technologies for deep-sea and high-voltage cable systems.

The submarine communication cables segment accounted for a significant share and thus expected to grow with the fastest CAGR over the forecast period. There has been a rapid increase in urbanization and economic activities, which will drive the growth in infrastructure and construction segments in both developing and developed countries. The demand from various sectors such as commercial, telecom, energy, and power industries is leading to expansion and up-gradation of infrastructure, which is anticipated to drive the demand for the submarine cable market. Also, the rising focus on joining offshore renewable energy generation to join future renewable energy targets and increase energy security, providing energy access to remote landmasses, and interlinking national grids to economize energy use has driven the market expansion across the globe.

Voltage Insights

The high voltage segment accounted for the largest market revenue share in 2024. High voltage cables ranging above 33kV are widely used for the power transmission and distribution of power. Thus, the increasing demand for the HVDC submarine power cables and rising investments in offshore wind power generation is the primary factor driving the high voltage cables segment in the submarine cable market. In addition, HV cables reduce the transmission losses and thus allow efficient power transmission. The HVDC power system is evolving at high speed and permitting the transfer of electricity from the big capacity high power sources to the mainland. Several companies and development centers support the growth of HVDC power systems, such as DESERTEC, North Seas Countries Offshore Grid Initiative, CIGRE, and others.

The medium voltage cables segment is anticipated to exhibit the highest CAGR over the forecast period. The growth is attributable to the utilization of MV cables in the offshore oil & gas infrastructure for power transmission. The demand from overseas oil & gas operations has been increasing, thus driving the MV submarine cable market. The growth is driven due to the expansion of offshore renewable energy projects, particularly wind farms and tidal energy systems. These cables play a crucial role in transmitting power between offshore platforms and onshore grids or between different sections of offshore infrastructure. Additionally, increased investment in inter-island and coastal connectivity is driving their adoption. The trend toward grid modernization and energy decentralization further supports sustained growth in this segment.

End-use Insights

The offshore wind power generation segment accounted for the largest market revenue share in 2024. Increasing investments in offshore wind power generation and usage of submarine power cables for long-distance power transmissions from these plants is the primary factor in flourishing the market growth. For instance, in June 2024, The Global Wind Energy Council (GWEC) reports that 2023 marked a significant year for offshore wind energy, with 10.8 GW of new capacity installed globally, a 24% increase from the previous year bringing the total to 75.2 GW. This growth is attributed to favorable policy developments and increased collaboration between governments and industry stakeholders. GWEC forecasts an addition of 410 GW of offshore wind capacity over the next decade, aligning with global targets to install 380 GW by 2030.

The inter-country & island connection segment is anticipated to exhibit the significant CAGR over the forecast period. The growing need for inter-country and island connectivity is a key driver of the submarine cable market, as nations seek to improve communication infrastructure and ensure reliable power transmission. Remote islands and geographically dispersed countries rely on submarine cables to bridge gaps in internet and electricity access, supporting economic development and digital inclusion. Regional integration initiatives and cross-border energy projects are further accelerating investments in both telecom and power submarine cable systems. This demand is pushing governments and private players to prioritize long-term, high-capacity cable Voltages across oceans and seas.

Component Insight

The dry plant products segment led the component type of submarine communication market in 2024. The growth is driven due to the increasing adoption of dry plant products such as power feeding equipment, monitoring systems, and transmission terminals in submarine communication cable. These components enhance network reliability, simplify maintenance, and reduce overall operational costs by enabling better onshore cable management. As demand for high-speed, low-latency global data transmission grows, dry plant technologies are becoming essential for supporting advanced cable systems. Their integration ensures seamless signal transmission and efficient management, making them a critical investment for operators expanding international communication networks.

The wet plant products segment is expected to expand with the fastest CAGR over the forecast period. Wet plant products such as optical repeaters, branching units, and undersea fiber optic cables are crucial drivers of growth in the submarine communication cable market. These components are directly deployed on the seabed and are vital for signal amplification, routing, and long-distance transmission. With increasing global demand for high-capacity, transoceanic connectivity, the need for robust and high-performance wet plant systems is rising. Advancements in wet plant technologies are enabling longer cable spans, higher data throughput, and improved fault tolerance, making them indispensable to the expansion of modern submarine communication infrastructure.

Offering Insights

The installation & commissioning segment dominated the market in 2024. Installation & Commissioning (I&C) offerings are driving the market by enabling faster deployment, ensuring technical reliability, and supporting complex system upgrades. As global data demand grows, I&C services provide end-to-end solutions, from marine surveys to final system testing, crucial for timely and secure cable voltages. Their role in large-scale connectivity projects and compliance assurance makes them vital to both new builds and modernization efforts. This specialized support is essential as more high-capacity systems are deployed across increasingly challenging environments.

The upgrade segment is expected to grow at a promising CAGR over the forecast period. In the submarine communication cable market, upgrade offerings primarily revolve around enhancing existing cable systems with advanced technologies like coherent optical transmission and higher-capacity repeaters. These upgrades significantly extend the lifespan and data throughput of older systems without the need for full replacements, offering cost efficiency and faster deployment. Demand is driven by skyrocketing global data traffic and cloud services, pushing operators to maximize existing infrastructure. Vendors such as Ciena, Infinera, and Nokia are leading this space, offering scalable solutions that boost performance while minimizing operational disruptions.

Regional Insights

The North America submarine cables market accounted for a significant share of around 16.97% of the overall market in 2024. The region is experiencing rapid growth in submarine cable expansion due to rising demand for high-speed, low-latency data transmission directed by cloud services, streaming platforms, and AI workloads. Major tech giants like Google, Microsoft, and Amazon are financing heavily private and consortium-owned cables to enhance global connectivity and reduce dependence on third-party networks. Strategic routes now connect the U.S. to Latin America, Europe, and Asia-Pacific with increased capacity and redundancy. Regulatory support and public-private partnerships are accelerating deployment. Additionally, emerging cable landing stations along the U.S. coasts are boosting regional digital infrastructure and economic activity.

U.S. Submarine Cables Market Trends

The growth of submarine cables in the U.S. is accelerating as demand forhigh-capacity data transmission surges, fueled by the expansion of AI, cloud services, and global internet usage in this region. key tech players such as Google, Meta, Amazon, and Microsoft are heavily investing in new transoceanic cable systems to strengthen international data connectivity and reduce latency. These cables are critical infrastructure for supporting data centers, content delivery networks, and emerging digital services. Projects like Meta’s Waterworth-spanning 31,000 miles highlight the scale and ambition of current investments. The U.S. is also becoming a key hub for intercontinental data traffic, reinforcing its role in the global digital economy. However, deployment is occasionally challenged by regulatory reviews and geopolitical considerations.

Europe Submarine Cables Market Trends

Europe’s submarine cable growth is distinct, driven by its geopolitical focus on digital autonomy and reducing reliance on non-EU data routes. Unlike North America’s transpacific focus, Europe is expanding connectivity with Africa, the Middle East, and Asia via the Mediterranean. Initiatives like the EU’s Global Gateway are funding infrastructure to enhance international digital links. Coastal nations such as France, Spain, and Greece are emerging as key landing points due to their geographic and political stability. Europe is also emphasizing green data transmission, integrating cable projects with renewable energy goals.

Asia Pacific Submarine Cables Market Trends

The growth of submarine cable deployments in the Asia-Pacific region is driven by surging internet demand, fueled by rapid digitalization, mobile usage, and cloud adoption across emerging economies. Increasing investments from hyperscalers like Google, Meta, and AWS are also accelerating infrastructure expansion to support data-intensive applications. Additionally, the region's strategic position as a global data transit hub between the U.S., Europe, and Africa enhances its importance. Government initiatives promoting digital connectivity and public-private partnerships further support new cable projects. Geopolitical considerations and the need for network redundancy are also encouraging countries to diversify and secure their subsea routes.

Key Submarine Cables Company Insights

The key players that dominated the global market in 2024 include Alcatel-Lucent, TE SubCom, and NEC Corporation. The other small and mid-size submarine cable providers focus on smaller projects in various regions. Many submarine cable suppliers are also involved in offshore oil and gas projects, undersea electrical cables, and other marine infrastructure projects across the globe. Further, the leading players are also focusing on strategic acquisitions and collaborations with regional players to expand their channel reach in untapped markets. For instance, in April 2023, Nexans acquired Reka Cables, a manufacturer of cables in Finland. The combined business aimed to provide safe and high-quality cables to Nordic customers and beyond through this acquisition.

• NEC Corporation is a prominent global player in the submarine cable industry, having deployed over 400,000 kilometers of undersea cables worldwide. The company offers end-to-end solutions, from cable manufacturing to marine Voltage and long-term maintenance, making it a preferred partner for global connectivity projects. NEC has been instrumental in major international cable systems like the Asia Direct Cable (ADC) and the India-Lakshadweep project, enhancing digital infrastructure across Asia. Its cables are engineered to withstand extreme oceanic conditions, supporting robust data transmission across continents. As global demand for high-speed, high-capacity networks rises, NEC continues to expand its presence in key markets, facilitating digital transformation and economic growth.

• ​Microsoft Corporation is a global technology provider specializing in software, cloud services, and digital infrastructure. To support its expansive cloud offerings, including Azure and Microsoft 365, Microsoft has heavily invested in submarine cable systems that enhance global data connectivity. Notably, Microsoft co-developed the MAREA cable with Meta and Telxius-a 6,600 km transatlantic system connecting Virginia, USA, to Bilbao, Spain-designed to deliver ultra-high capacity and low-latency connectivity across the Atlantic. Additionally, Microsoft participates in the Amitié cable consortium, linking the U.S. to the UK and France, further strengthening its transatlantic infrastructure. These investments ensure faster, more reliable access to Microsoft's cloud services worldwide. ​

Recent Developments

• In January 2024, NEC Corporation India (NEC India), in collaboration with NEC Corporation, announced the successful completion of the Kochi-Lakshadweep Islands Submarine Cable (KLI) system. This flagship project under India’s ‘Digital India’ Mission connects Kochi with 11 remote Lakshadweep islands, spanning approximately 1,870 kilometers. The initiative aims to revolutionize digital connectivity and foster socio-economic growth in the region.

• In January 2025, Microsoft has filed plans for three subsea cables-Tuskar, SOBR1, and SOBR2-connecting Ireland to Wales to boost data center connectivity. These cables will link key sites in Ireland and the UK, enhancing cloud service speed and reliability. This move supports Microsoft’s expanding data center footprint in Dublin and new developments in Wales. The project aligns with Microsoft’s global strategy to improve digital infrastructure and cloud performance. These filings highlight Microsoft’s commitment to strengthening trans-Irish Sea connectivity.

Submarine Cables Market Report Scope

Global Submarine Cables Market Report Segmentation

This report forecasts revenue growth at global, regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global submarine cable market report by application, voltage, end-user, offerings, component, and region:

• Application Outlook (Revenue, USD Million, 2017 - 2030)

  • Submarine Power Cables

  • Submarine Communication Cables

• Voltage Outlook (Revenue, USD Million, 2017 - 2030)

  • Medium Voltage

  • High Voltage

  • Extra High Voltage

• End-user Outlook (Revenue, USD Million, 2017 - 2030)

  • Offshore Wind Power Generation

    • Array Cables

    • Export Cables

  • Inter country & island connection

  • Offshore Oil & Gas

• Offerings Outlook (Revenue, USD Million, 2017 - 2030)

  • Voltage & Commissioning

  • Upgrade

  • Maintenance

• Component Outlook (Revenue, USD Million, 2017 - 2030)

  • Dry Plant Products

  • Wet Plant Products

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

    • France

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

    • Australia

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

    • UAE

    • Saudi Arabia

    • South Africa

• Submarine Communication Cables Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • Transatlantic

  • Transpacific

  • Indian Ocean

  • Americas

  • EMEA

  • AustralAsia