Asia Pacific Submarine Cable System Market to Reach US$ 14,719.3 Mn at a CAGR of 9.8% in 2027

Asia Pacific Submarine Cable System Market to 2027 - Regional Analysis and Forecasts by Service (Installation services and Maintenance & Upgrade services); and Application (Communication and Energy & Power)

Publication Month : Jan 2019

  • Report Code : TIPRE00002779
  • Category : Electronics and Semiconductor
  • Status : Published
  • No. of Pages : 98
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Submarine cable systems market in Asia Pacific is estimated to grow from US$ 5.6 Bn in 2017 to reach US$ 14.7 Bn by the end of 2027. This represents a CAGR of 9.8% during the forecast period from 2018 – 2027.

The focus on the development of submarine cable systems has grown from strength to strength in the last decade. There have been few notable factors that have resulted in significant growth of submarine cable systems market in recent times. The international bandwidth has grown at an average of close to 40% year on year from 2012 to 2016, which has boosted the penetration of various international players in the Asia Pacific region which has reflected the growth of submarine cable systems market. The internet, as well as the voice operators, have witnessed impressive growth in the traffic. Also, various content, as well as cloud service providers, have had a remarkable impact on data traffic growth. Amazon, Google, Apple, Facebook, and Microsoft are the significant contributors to this increased data traffics. These content and the cloud service providers use the international submarine cable infrastructures for distributing their contents through the servers located in the data centers, closer to the end-user, thereby enhancing their internet experience. Interconnecting these data centers require the usage of submarine cable systems. The increase in the usage of underwater cables by these content and cloud service providers have allowed the submarine cable systems market to propel year on year in the Asia Pacific region. In addition, the establishment of well-established players as well as emerging players in the region offering submarine cable systems is facilitating the submarine cable systems market to witness upswing in the recent scenarios.

Asia Pacific region comprises of majority of developing economies and also a huge underserved population for internet services. This presents fortunate opportunities for leading social media players and internet based service providers to reap benefits of the untapped market. With proliferation of cheap smart phone and tablets and increasing penetration of computing devices in business and households, the region presents highest growing user base seeking internet based services. Thus, strong growth of internet connected users coupled with good economic growth in the region are the factors luring the enterprise and cloud service providers to establish servers in proximity to the users enabling them to access data with reduced latency and reaction time. This directly translates to the growth in the submarine cable systems market in the region that bring about the connection between the terrestrial fiber cables with the international broadband networks. The Asia pacific region is said to constitute one of the most expansive undersea cable networks that has played a crucial role in the transformation of this region. Further, with the multi-folds rise in demands of increased trans-pacific bandwidth by 2020, it is anticipated that investments in submarine cable systems market would reach new heights in the coming years. Asia Pacific contributes heavily to the data consumption. Higher rates of smartphone penetrations in the Asian countries especially India and China coupled with the parallel advancements in the 3G and 4G communication technologies have significantly contributed to the communications industry advancements in the region. This factor has bolstered the growth of submarine cable systems market in Asia Pacific region.

Hong Kong is said to be located directly at the center of the Asia-pacific region which increases its importance in the submarine cable system market. The liberalization of the external-facilities based telecommunications market by the Office of Communications Authority (OFCA) in Hong Kong has led to the country adopting an open licensing regime. As a result, many submarine cable systems find Hong Kong to be an important landing site. Presently, there are close to 15 major submarine cable systems in the country that have driven the telecommunications market in the country. Pertaining to the importance of its geographic location, Hong Kong constitutes the largest share in submarine cable systems market in the Asia Pacific region in 2017.


South Korea Submarine Cable Systems Market Revenue and Forecasts to 2027 (US$ Bn)

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ASIA PACIFIC SUBMARINE CABLE SYSTEMS – MARKET SEGMENTATION

By Service

  • Installation
  • Maintenance

By Application

  • Communication
  • Energy & Power

By Country

  • China
  • Australia
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Singapore
  • Hong Kong
  • Rest of Asia Pacific

Companies Mentioned

  • Huawei Marine Networks Co., Ltd.
  • Subcom, LLC
  • NEC Corporation
  • Fujitsu Limited
  • Nokia Corporation
  • Hengtong Group Co. Ltd.
  • Sumitomo Electric Industries, Ltd.
  • Nexans SA
  • Prysmian Group
  • Mitsubishi Electric Company
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Service, and Application

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Australia, China, Japan, South Korea

The List of Companies

1. Huawei Marine Networks Co., Limited2. Subcom, LLC3. NEC Corporation4. Fujitsu Limited5. Nokia Corporation6. Hengtong Group Co., Ltd.7. Sumitomo Electric Industries, Ltd.8. Nexans SA9. Prysmian Group10. Mitsubishi Electric Corporation

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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