Global Submarine Cables Market Size & Outlook, 2024-2030
The global submarine cables market size was estimated at USD 18,410.0 million in 2023 and is projected to reach USD 26,519.1 million by 2030, growing at a CAGR of 5.2% from 2024 to 2030.
Revenue, 2023 (US$M)
$18,410.0
Forecast, 2030 (US$M)
$26,519.1
CAGR, 2024 - 2030
5.2%
Report Coverage
Worldwide
Global submarine cables market, 2018-2030 (US$M)
Global submarine cables market highlights
- The global submarine cables market generated a revenue of USD 18,410.0 million in 2023 and is expected to reach USD 26,519.1 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 5.4% by 2030.
- In terms of segment, offshore wind power generation accounted for a revenue of USD 18,410.0 million in 2023.
- Offshore wind power generation is the most lucrative end use segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2023.
Global data book summary
| Market revenue in 2023 | USD 18,410.0 million |
| Market revenue in 2030 | USD 26,519.1 million |
| Growth rate | 5.4% (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 |
Other key industry trends
- In terms of revenue, the North America accounted for 13.1% of the global submarine cables market in 2023.
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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 |
Global submarine cables market size, by regions, 2018-2030 (US$M)
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