Satellite Communication Systems Market with a High CAGR of 8.8% by 2024

Satellite Communication Systems Market

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.

Segmental Analysis

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).

Regional Analysis

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.

Competitive Analysis

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).

More Information@

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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