Market Dynamics:
The submarine cables market is driven by increasing demand for fiber optic communication due to rising internet penetration across the globe. Optical fibers allow vast amount of data to be transmitted over long distances through a glass core not much thicker than a human hair. This makes them a preferred medium for submarine telecommunication cables. Additionally, growing need for data centers is also supporting the growth of this market. Majority of content and internet infrastructure relied upon for the global digital economy today resides in large data centers that are connected through submarine cables. As the quantity of data grows exponentially each year, the demand for more submarine cables and greater data capacity rises substantially.

Key Takeaways

The Global Submarine Cables Market Size is expected to witness high growth, exhibiting CAGR of 6.3% over the forecast period, due to increasing investments in new projects aimed at augmenting international bandwidth. The market size is estimated to reach US$ 4841.53 Mn by 2030 from US$ 2751.81 Mn in 2023.

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