The report on the Global Enterprise VSAT Market provides a bird’s eye view of the current proceeding within the Global Enterprise VSAT Market . Further, the report also takes into account the impact of the novel COVID-19 pandemic on the Global Enterprise VSAT Market and offers a clear assessment of the projected market fluctuations during the forecast period.

Market Snapshot

Very small aperture terminal (VSAT) is a two-way satellite communication system that transfers and receives data from satellites. A VSAT satellite system comprises small dish antennas range of less than 3 meters in diameter and other hardware components that include modems and antennas.

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The market is being pushed towards growth by the growing adoption of VSAT networking systems in the BFSI sector. With several transactions taking place across multiple branches, the need for a secure communication platform to carry sensitive information is essential. Furthermore, with the need for a flexible communication platform to adapt to the rapidly advancing banking industry, the capability of VSAT systems to adjust to the growing data volumes and need for a secure connection in remote ATMs and branches has become significantly important. Additionally, accessing financial services in remote or rural areas with poor network infrastructure can be difficult. Banks that want to deliver services in remote locations are facing challenges in network connectivity. To curb these issues, banking and finance industries in an isolated region require a secure communication infrastructure that offers better productivity, with lower operating costs.

The global Enterprise VSAT market is expected to expand at ~8.8% CAGR to 10,617.5 Million in 2024 during the forecast period.

Source: MRFR Analysis

Synopsis

The global enterprise VSAT market has been segmented on the basis of type, organization size, and region.

Based on type, the Enterprise VSAT market has been segmented into hardware and services. The services segment accounted for the largest market share in 2018, and the same segment is expected to register the highest CAGR of 9.1% during the forecast period.

Based on organization size, the global 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 CAGR of 9.8% during the forecast period.

Regional Analysis
Geographically, the global enterprise VSAT market has been segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America.

North America is the leading region in terms of market share in the Enterprise VSAT market. The market growth is attributed to the presence of a number of enterprise VSAT network service providers that offer network support to Enterprise VSAT devices. The leading players in the region include Hughes Network Systems LLC, VT iDirect, Gigasat, and Skycaster LLC that operate across the region.

Asia-Pacific was the second largest market in the Enterprise VSAT market in 2018. Asia-Pacific has been segmented into China, India, Japan, South Korea, and South-East Asia. According to the MRFR analysis, China is expected to gain the highest market share followed by India, Japan, South-East Asia, and South Korea. Some of the factors that are responsible for the market growth in this region include the increasing number of SMEs and advancements in digital technology such as Machine-to-Machine (M2M) and IoT technology. Syntelix Avances Tecnológicos SL, Ipstar (India) Pvt. Ltd, Inmarsat PLC, ABS, Nelco, Asia Satellite Telecommunications Co. Ltd, and Shanghai VSAT Network Systems Co., Ltd are leading the market in the region.

Companies Covered

The key players of the global Enterprise VSAT market are Hughes Network Systems LLC (US), Singtel (Singapore), Gilat Satellite Networks (Israel), VT iDirect (US), Newtec (Belgium), Viasat Inc (US), Global Eagle (US), Comtech Telecommunications Corporation (US), Gigasat. (US), Skycaster LLC (US), and Omniaccess (Spain).

Key Developments

In May 2019, Hughes Communications India Ltd, (HCIL), a majority-owned subsidiary of Hughes Network Systems, LLC formed a joint venture with Bharti Airtel Limited (Airtel), one of the leading telecommunications service providers in India. The joint venture would enable both the companies to expand their VSAT operations in India.

In May 2019, Gilat Satellite Networks collaborated with Telesat, a Canadian satellite communications company, to demonstrate 5G services over a Low Earth Orbit (LEO) satellite. The collaboration allowed the former to provide high-end applications over LEO satellite and further strengthen Gilat’s cellular backhaul product portfolio.

In April 2019, VT iDirect partnered with AiTelecom, a leading satellite and terrestrial communications provider in Mexico and around the Americas. The partnership allows the latter to launch the first iDirect DVB-S2X network in Mexico to provide high-speed and affordable connectivity services throughout the region. The partnership also allows the former to expand its customer base.

In September 2018, The US Government awarded Viasat, an eight-year, firm-fixed-price contract to provide the US Government Senior Leader and VIP aircraft with in-flight broadband and connectivity services.

Market Segmentation

By type—hardware and services

By organization size­—small and medium enterprises, large enterprises

Key questions addressed by the report

What was the historic market size (2018)?
Which segmentation (type/organization size/) are driving the market?
What will be the growth rate by 2024?
Who are the key players in this market?
What are the strategies adopted by key players?
DC

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