Submarine Cable System Industry - Strategy Analysis

 The global submarine cables market size was estimated at USD 31.70 billion in 2024 and is projected to grow at a CAGR of 5.6% from 2025 to 2030. The market is significantly driven by rising investments in offshore wind farms and increasing data traffic, fueled by OTT provider demands. 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.

Recent Developments

•            Sept’22 - Google has launched the Equiano submarine cable, which interconnects Western Europe with South Africa for $1 billion. The submarine cable is 15,000 km long and has an intended speed of 150 Tpbs.

•            Aug’22 - STC (Saudi Telecommunication Company) has launched Saudi Vision Cable, the red sea's first high-speed undersea cable. The Saudi Vision submarine cable extends for nearly 1.1 million metres, with Jeddah operating as the first landing station.   

•            July’22 - Southern Cross Cables recently unveiled the Southern Cross NEXT Submarine Cable, which interconnects Australia to the United States. It will provide connectivity to the rest of the globe for the people and societies of Australia, New Zealand, and the Pacific Islands. Southern Cross partnered with Ciena to put the NEXT submarine cable into operation.