Ocean Specialists, Inc. (OSI) and SubCableWorld (SCW) have joined forces to release a forecast for both the global and Asia-Pacific submarine telecom cable markets, as the global economy begins its recovery.
The global submarine cable market appears to be ready to awaken from its nine-month slumber that began in the latter half of 2019 and extended into the first four months of 2020. Despite the slow start, OSI and SCW estimate that 2020 should rebound sharply to end the year up from 2019, at about 80,000 route-km of new contracts in total for the year.
While other industries, such as travel and retail, will continue to face economic difficulties in the wake of Covid-19, the very factors driving such hardship are bolstering the types of activities that are reliant on global submarine fiber optic cables – mostly, content streaming and videoconferencing.
From what we are seeing, the Asia-Pacific region will play a vital role in the forecast uplift in activity in Q3 and Q4, 2020.