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Marine Cables and Connectors Market

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Marine Cables and Connectors Market
Marine Cables and Connectors Market : Growth Opportunities
Telecommunication Infrastructure Development Activities Pick Pace
Rise
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With the leading ten companies collectively accounting only for about 50% of overall
share, the vendor landscape of the global marine cables and connectors market hints
at a high level of fragmentation and intense competition, observes Transparency
Market Research in a recent report. Owing to the large number of companies in the
market, competition is likely to remain intense in the next few years as well.
Vendors operating in the global marine cables and connectors market can expect a
massive rise in innovative products and technological advancements as more and
more companies look at revising their growth strategies to remain competitive in the
market. Attempts at consolidating their positions in the market through strategic
mergers and acquisitions and expansion across emerging regional markets could also
remain key growth strategies adopted by leading players. Some of the most
prominent vendors in the market are Fujitsu Limited, Eaton Corporation Plc., TE
Connectivity, Inc., Teledyne Marine, Scorpion Oceanics, SAMCO Inc., Molex, Huawei
Marine, and General Cable Company.
It is estimated that the global marine cables and connectors market will register a
healthy 5.3% CAGR over the period between 2017 and 2025, rising from an
opportunity of US$8869.8 mn in 2015 to US$14,081.3 mn by 2025.
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Asia Pacific to Present Promising Growth Opportunities
Of the two key types of products that the global marine cables and connectors
market vends - cables and connectors, the segment of cables held the dominant share
in the overall market in 2016. The segment is likely to remain the leading revenue
contributor to the overall market over the forecast period as well, exhibiting a 5.7%
CAGR. The segment of connectors is likely to remain stagnant.
Geographically, the market in Europe presently dominates, accounting for over 30%
of the overall revenue generated by the global market in 2016. This is chiefly
attributable to the rising demand for reliable and energy efficient fiber-optic cables
with good performance as the telecom sector pushes boundaries and looks forward to
provide high-speed connections to users. Over the report’s forecast period, the market
in Asia Pacific could provide promising growth opportunities, with China remaining a
key contributor to the overall growth of the market.
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Rising Investments from Defense and Military Sectors to Aid Growth
A number of factors are likely to aid the overall expansion of the global marine
cables and connectors market, including the massive wave of investments in the field
of marine connectivity from telecom companies and governments with the view of
improving and expanding inter- and intra-country telecom networks. The rising global
demand for higher and more reliable bandwidth for effective and faster transmission
of data and vast investments from the defense and military sectors are also expected
to drive the market in the near future. The vast rise in data centers across the globe
is also expected to favor the overall uptake of a variety of marine cables and
connectors.
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monaliraghu
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