The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Vsat Market. The growth sectors of the Vsat Market are identified with precision for a better growth perspective.
The global enterprise VSAT market is expected to reach 10,617.5 Million by 2024, exhibiting a CAGR of 8.8% during the forecast period (2018–2024).
The prominent players that operate in the market are Hughes Network Systems LLC (US), Singtel (Singapore), Comtech Telecommunications Corporation (US), Gigasat Inc. (US), Skycaster LLC (US), Gilat Satellite Networks. (Israel), VT iDirect (US), Newtec (Belgium), Viasat Inc (US), Global Eagle s(US), and Omniaccess (Spain).
The global enterprise VSAT market has been segmented based on type, organization size, and region.
Based on the type, the Enterprise VSAT market has been segmented into hardware and services. The services segment accounted for the largest market share in 2018 and is expected to dominate the market during the forecast period. The services segment is projected to grow with significant CAGR during the forecast period as it is largely implemented across industries.
Based on organization size, the Enterprise VSAT market has been segmented into small and medium enterprises, and large enterprises. The large enterprises segment accounted for the largest market share while the SME segment is expected to register a higher CAGR during the forecast period.
Geographic analysis of the enterprise VSAT market has been conducted for Asia-Pacific, North America, Europe, the Middle East & Africa, and South America.
North America is expected to be the largest market for Enterprise VSAT and dominate the forecast period. This region has been further categorized into the US, Canada, and Mexico. The US dominated the Enterprise VSAT market, followed by Canada and Mexico. Advancements in the 5G technology and growing consumption of data services in the region are some of the factors responsible for the growth of the enterprise VSAT market. Moreover, the presence of industry giants such as Newtec, Hughes Network Systems LLC, and Comtech Telecommunications Corp., VT iDirect, is one of the driving factors for the enterprise VSAT market in this region.
Asia-Pacific has been segmented into China, India, Japan, South Korea, and South-East Asia. It is the second-largest market for enterprise VSAT. According to the MRFR analysis, China is expected to gain the highest market share, followed by India, Japan, South-East Asia, and South Korea. The increasing number of SMEs in the region along with the adoption of Industrial IoT such as M2M communication technologies has helped the growth of the market in this region. Inmarsat PLC, ABS, Nelco, Asia Satellite Telecommunications Co. Ltd, Syntelix Avances Tecnológicos SL, Ipstar (India) Pvt. Ltd, and Shanghai VSAT Network Systems Co., Ltd are leading market players in the region.
Europe accounts for the third-highest market share in the enterprise VSAT market. Europe has been segmented into the UK, Germany, France, Russia, and Italy. According to MRFR analysis, the UK is expected to gain the highest market share, followed by Germany, France, Russia, and Italy. The increasing adoption of IoT devices is one of the factors responsible for market growth. Furthermore, growing need for affordable, high-speed internet connectivity from small and medium enterprises (SMEs) have enhanced the growth of the Enterprise VSAT market. The presence of companies such as CPN Satellite Services GmbH, Stellar PCS, and ShipServ Limited is also one of the factors responsible for the growth of the market in this region.
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Enterprise VSAT Market by Type, Size, Growth and Forecast – 2024 | MRFR
Enterprise VSAT Market is predictable to expand at 8.8% CAGR to 10,617.5 Million in 2024, Global…
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