Shared Bandwidth VSAT Systems to Be Most Sought-after, Accounting for Nearly Two-third Demand: Persistence Market Research

NEW YORK, Jan. 29, 2021 /PRNewswire/ -- VSAT (very small aperture terminal) is a technology used to manage data while trying high-frequency exchanging operations. Enterprise VSAT delivers unlimited Internet access over satellite connection to any place in the world, for large companies, corporate networks, and small companies alike. Over the decade, demand for both, hardware and services will be high from the telecom and IT sector across regions.

As per Persistence Market Research report, the global Enterprise VSAT market generated a market revenue of US$ 4.5 Bn in 2020, and is expected to expand at an impressive CAGR of around 10% during the forecast period (2021-2031).

Key Takeaways from Enterprise VSAT Market Study

• South Asia & Pacific is expected to create lucrative growth opportunities for players in the enterprise VSAT market, due to rise in government spending on telecom & IT systems in the region.
• Growing trend of digitalization is boosting adoption of enterprise VSAT, and is creating new growth opportunities for hardware manufacturer and service providers.
• Key players in the market are focusing on acquisitions to complement their product portfolios, so as to cater to the needs of a variety of customers. Market participants are also focusing on providing products directly to end users to improve direct customer relations.
• Demand share of shared bandwidth systems is projected to be over 60% in 2031.
• Though the COVID-19 pandemic has adversely affected most sectors, enterprise VSAT is being used by various industries to receive and transmit real-time data through satellites.

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"Key players are focusing on continuous development and implementation of new solutions such as enterprise VSAT technology and VSAT satellite technology for access in remote locations and improved WAN & Internet connectivity performance, which is proliferating opportunities for the enterprise VSAT market," says a Persistence Market Research analyst.

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Impact of COVID-19 on Enterprise VSAT Market

The COVID-19 pandemic outbreak has disrupted many industries, including the enterprise VSAT market. The spread of COVID-19 has affected adoption in Europe, Asia, and North America, and partially in the Middle East, Africa, and Latin America. Several facilities have been affected due to the halt of construction and supply chain-related challenges.

The COVID-19 pandemic has pushed enterprise VSAT solution providers to rapidly shift gears, from addressing work-from-home requirements to managing extreme swings in demand and uncertain supply chains. For COVID-19 response, enterprise VSAT is being used by different industries to receive and transmit real-time data through satellites. VSAT transmits narrow broadband signals to orbital satellites, and then from these satellites, data is transmitted to various hubs in other locations around the globe. The enterprise VSAT market increased by 9% in 2019, and is estimated to grow by 9.5-10% in 2020-2021. In response to the COVID-19 pandemic, cloud service providers are taking special measures to meet rising customer demand for cloud usage, due to sudden increase in the remote-first workforce.

More Valuable Insights on Enterprise VSAT Market

A new market research report published by Persistence Market Research (PMR) on the global enterprise VSAT market includes global industry analysis of 2016–2020 and opportunity assessment for 2021–2031. The report provides valuable insights on the basis of component (hardware [VSAT outdoor units (ODUs) and VSAT indoor units (IDUs)] and services [professional services, system integration & implementation, installation & repair, network testing & configuration, and support & maintenance]), type (dedicated bandwidth VSAT systems and shared bandwidth VSAT systems), enterprise size (small & medium enterprises (SMEs) and large enterprises), and industry (healthcare, education, retail, telecom & IT, media & entertainment, BFSI, and others), across six major regions.

Browse Research Release at: https://www.persistencemarketresearch.com/market-research/enterprise-vsat-market.asp

Browse End-to-end Market: IT and Telecommunication

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