PUBLISHER: Grand View Research | PRODUCT CODE: 1941499
PUBLISHER: Grand View Research | PRODUCT CODE: 1941499
The global submarine cables market size was estimated at USD 33,761.6 million in 2025 and is projected to reach USD 50,566.4 million by 2033, growing at a CAGR of 5.0% from 2026 to 2033. The major factors driving the market are increasing investments in offshore wind farms, increasing data traffic, and investments by OTT providers to satisfy the requirements.
Submarine cables are widely used for power and communication applications. The submarine power cables are used for power transmission to the oil rigs, power generated from offshore wind farms to the power station, and inter-country and island connections. Increasing demand for interconnecting countries' power grids is a factor influencing the demand for low-power cables. Submarine communication cables are used for inter-region/country communications. The worldwide internet traffic is entirely dependent on submarine cables, and with the rise in internet usage, the demand for submarine cables is increasing drastically.
The rising focus on joining offshore renewable energy generation and increased energy security has driven the expansion of the market across the globe. These communication cables help in faster communication and carry a large amount of data traffic worldwide. The submarine communication cables carry around 90% of the data traffic across the world. In addition, their total carrying capacity is in terabits per second. As a result, they are the most valued cables for OTT and communication providers such as Google, Amazon, Facebook, and Microsoft.
Furthermore, the rapid advancements in fiber-optic technology enable higher data transmission speeds and capacities, supporting the surge in cloud computing and 5G/6G network deployments worldwide. The expansion of edge computing and IoT applications demands ultra-low latency connections, making submarine cables essential for real-time data processing across continents. Geopolitical shifts toward digital sovereignty and supply chain resilience are prompting investments in new cable routes to diversify infrastructure and reduce reliance on terrestrial alternatives.
Global Submarine Cable Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the global wires and cables market report based on application, voltage, end-use, offerings, component, and region: