The predictions were made by Aqua Comms CEO Nigel Bayliff, during the ITW session Community: Subsea, on 18 June.
Speaking during the session Bayliff said: “For me what is interesting is we are seeing a renewal phase.
“There has been an on-off market in the Atlantic for a long time but it is a high growth market with enormous growth curves driven by everything: every piece of data, every social media activity needs to drive itself across that ocean across the North American and European powerhouses,” he added.
The global submarine cable system market is projected to reach US$22 billion by 2025 from $10.3 billion in 2019, growing at a CAGR of 11.1% from 2020 to 2025.
Highlighting the lack of technological advance in almost 170 years of cable deployments, Bayliff continued to reveal that he has seen “opportunities in technology” that could open up new subsea routes, “branching out from Europe into the northern latitudes maybe or some unique routes that are still yet to be deployed in the world.”
Another factor in the market’s potential growth is the opportunity to deploy and operate cables on a professional services model for utilities providers and finance companies.
“Its an interesting market because people shy away from it because it has had such a tumultuous past but with the right approach and the right structure of an organisation, partnering with the right people – the people who need enormous quantities of data - I think we have a fairly stable view point now of what is happening,” Bayliff added.
The panel also featured Andy Bax, COO of Seaborn Networks; Gil Santaliz, CEO of NJFX; Ian Clarke, VP Global Submarine Sales at Ciena; and Laureen Cook, executive TMT adviser at Extelcon.
