Enterprise Vsat Market To Garner Exponential Growth By 2024: International News (USD 10,617.5 Million Market)
November 19, 2019 by Market-NewsFlash
Global Enterprise VSAT Market Research Report: by Type (Hardware, Services), by Organization Size (Small and Medium Enterprises, Large Enterprises), by Region [North America (US, Canada, Mexico), Europe (Russia, France, Germany, UK, Italy), Asia-Pacific (China, India, Japan, South-East Asia, South Korea), Middle East & Africa (Saudi Arabia, UAE, South Africa, Nigeria, Egypt) and South America (Brazil, Argentina, Columbia) — Forecast till 2024
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). In this report, Market Research Future (MRFR) includes segmentation and market dynamics to offer a better glimpse of the market in the coming years.
The global enterprise VSAT market has been segmented into type, organization size, and region.
Based on the type, the global enterprise VSAT market has been segmented into hardware and services. The services segment accounted for the largest market share with a market value of USD 4,064.3 Million in 2018 and is expected to dominate the market during the forecast period. The services segment is projected to exhibit significant CAGR during the forecast period. This growth can be attributed to the improvement in DVB S2X Technology. DVB S2X is an extended version of the second-generation digital video broadcasting (DVB-S2). It was introduced to provide additional features and technologies for core applications of DVB S2 technology including VSAT, Digital Satellite News Gathering (DSNG), and Direct to Home (DTH).
DVB S2X technology offers enhanced performance and spectral efficiency and improved multiplexing gain that helps in increasing the network capacity of the communication systems. Furthermore, the companies are offering enhanced connectivity devices integrated with DVB S2X technology for increasing operational efficiency and enhancing the overall user experience. Moreover, the older version of DVB S2 technology offers high roll-off factor (20–25%) that restricts the signal transmission with lower speed and eventually hampers the network connectivity.
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 CAGR of 9.8% during the forecast period. This growth can be attributed to the various applications of this technology in large enterprises such as private intranet services, data security and integrity, and drive-aways for television broadcast systems. The security of data and transactional information helps in meeting corporate requirements and financial industry best practices, such as the Payment Card Industry Data Security Standards (PCI-DSS).
The regional analysis for the global enterprise VSAT market has been conducted for North America, Europe, Asia-Pacific (APAC), the Middle East & Africa, and South America.
North America is the leading region in terms of market share in the global enterprise VSAT market. The US is the largest regional market for enterprise VSAT in the region. The growing consumption of data services in the region is one of the driving factors for the growth of the market in this region.
The prominent players that operate in the 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 Inc. (US), Skycaster LLC (US), and Omniaccess (Spain).
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