Subsea Cable Inspection Equipment Market Share

APAC Market Statistics

Regionally, the global subsea cable inspection equipment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. Asia Pacific industry is estimated to account for largest revenue share by 2037, on account of increasing direct investments by major IT companies in the field of communications in the region. In addition, growing internet usage is also expected to drive market growth in the region in the coming years. Moreover, the market in Europe is projected to occupy the largest share during the forecast period owing to the rising number of offshore wind projects, and escalating utilization of subsea power cables in the region. As per the Wind Europe organization, during 2020, Europe added 2.9 GW of offshore capacity, i.e., 356 new offshore wind turbines connected to the grid, across nine wind farms.