Submarine networks erase geographic boundaries and distance byallowing humans, and machines, to communicate with each other. Theincreasing demand for power generated from offshore plants usingrenewable energy sources and the rising need to interconnecting landshave led to the growth of the global submarine cables market. In July2020, Hellenic Cables, a provider of submarine cable solutions, wasreceived a contract by Seaway 7, the renewables business unit ofSubsea 7, to supply 66kV inter-array cables & accessories for theSeagreen offshore wind farm.
Theglobal SubmarineCables Market is expectedto witness significant growth during the forecast period (2020–2027)due to increasing internet traffic around the world. For instance, inDecember 2019, Japan’s largest telecom company, Nippon Telegraph &Telephone (NTT) invested around US$ 400 million to establish a newsubmarine cable connecting Myanmar and India amid surging demand forglobal internet links.
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