The global enterprise VSAT satellite communication system market size is projected to reach USD 7.55 billion by 2025
LONDON, Oct. 8, 2018 /PRNewswire/ -- Enterprise VSAT Satellite Communication System Market Size and Forecast, By Solution (Service, Product), By Vertical (Banking, Retail, Energy, Government) And Trend Analysis, 2014 - 2025
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The global enterprise VSAT satellite communication system market size is projected to reach USD 7.55 billion by 2025. It is anticipated to expand at a CAGR of 4.4% over the forecast period. Rising number of enterprises coupled with rapid digitalization are expected to drive the demand for Very Small Aperture Terminals (VSATs) over the projected period.
Over the past few years, freight trade has grown on account of increasing volume of goods being exported and imported. Emergence of China and India as some of the prominent global manufacturing hubs has resulted in establishment of trade routes from Asia Pacific to other parts of the world. In addition, low price of finished goods from these countries has provided an impetus to expansion of trade routes from Asia Pacific to Europe and North America. Usage of VSAT for communication on a moving ship will add to the growth of the market in the forthcoming years.
Several emerging economies, particularly in Asia Pacific and Latin America, have been undertaking initiatives to digitalize their economies to compete with their developed competitors. For instance, Mexico Conectado, an initiative undertaken by the Government of Mexico aims at digitalizing the country to provide free internet in public spaces such as hospitals, schools, parks, squares and universities. Pegaso Banda Ancha (PBA), a satellite company, has deployed over 22,000 VSATs since 2004 in collaboration with Mexico's Ministry of Communication and Transport. In 2015, Pegaso, in partnership with Hughes, deployed the installation and services of another 5,000 VSATs.
Also, the Government of India has recently undertaken the Digital India Program with an aim to transform the country into a digitally empowered economy with focus on manufacturing, banking, education, and security. Although the country has access to submarine cables for international bandwidth, it has also initiated the use of satellite-based communication.
The ability of satellite-based communication to provide coverage even in rural and remote areas and operations at sea resulted in a 2.9% growth in subscriber base in India between 2015 and 2016. Inaccessible areas in North-East India are getting connectivity through VSATs. For instance, In May 2017, IPSTAR International, a telecommunications company and wholly owned subsidiary of satellite operator THAICOM Public Company Limited, selected Hughes's JUPITER System to extend the reach of broadband throughout India.
VSAT deployment in retail was valued at USD 1.26 billion in 2016. Evolution of the method of payment from cash to credit/debit cards has resulted in the increasing number of Point of Sale (POS) terminals, which in turn has added to the growth of VSAT in retail industry.
The enterprise VSAT satellite communication system market is consolidated in nature with companies including Hughes, Gilat, and iDirect dominating the global market. The increasing VSAT deployments in countries such as Mexico and India is expected to drive the growth of the market over the coming years.
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