According to a recent study done by FMI, the Enterprise VSAT Systems Market is expected to reach US$ 7.1 billion by 2032, up from US$ 4.7 billion in 2022, growing at a high CAGR of 4.3%. This study presents that the factors such as the expanded adoption of VSAT Systems in the maritime industry are expected to propel the market growth during the forecast period. Enterprise VSAT Systems are commonly installed on ships to provide fast broadband connectivity for both personal contact and business operations, which is a factor that is driving the market growth.
VSAT is used in video conferencing and ERP in industry-related activities and it is used in streaming, video messaging, and email in personal communications, which is another factor the drives the market growth during the analysis period. Moreover, Enterprise VSAT is also used in surveillance applications to support security forces in maritime operations that require compact, lightweight, and small equipment, as well as to protect coastal areas which drive the Enterprise VSAT System Market.
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Businesses are rapidly implementing enterprise VSAT technology innovations due to increased competitiveness, which can help them improve their product and service delivery and hence drive the growth of the market. Furthermore, the growing number of space exploration missions, increasing interest in satellite-assisted warfare, increased deployment of small satellites, and cost-effective satellite launch operations are all expected to drive the Enterprise VSAT System Market size in the future.
Key Takeaways from the Market Study
- Global Enterprise VSAT Systems Market was valued at US$ 4.7 Bn by 2022-end
- The US to account for the highest value share of US$ 1.9 Bn of global market demand for Enterprise VSAT Systems Market in 2032
- From 2015 to 2021, the Enterprise VSAT System demand expanded at a CAGR of 4.7%
- By Component, Hardware constitutes the bulk of Enterprise VSAT Systems with a CAGR of 3.8%.
Factors such as demand for a broadband data connection from business and government sectors are expected to accelerate the growth of Enterprise VSAT Systems Market in the forthcoming years, remarks an FMI analyst.
Players in the global Enterprise VSAT Systems Market focus on expanding their global reach through various strategies, such as; partnerships, collaborations, and partnerships. The players are also making a significant investment in R&D to add innovations to their products which would help them in strengthening their position in the global market. Some of the recent developments among the key players are:
- In March 2022, Hughes Network Systems, LLC (HUGHES) demonstrated two new technologies at the SATELLITE 2022 trade show in Washington, D.C. Hughes showcased new technology that seamlessly integrates Geostationary (GEO) satellite and LTE transports into a single, reliable, low-latency broadband internet connection for consumers. Hughes then revealed its new technology for electronically steerable, flat-panel antennas, including a prototype for delivering OneWeb Low Earth Orbit (LEO) connectivity services.
- In February 2022, Gilat Satellite Networks Ltd., a worldwide leader in satellite networking technology, solutions, and services, expanded strategic partnership with SES. SES had selected Gilat’s SkyEdge IV platform to operate with its SES-17 satellite, a very high throughput satellite (VHTS) to provide fixed services and mobility services.
- In January 2022, KVH Industries, announced that ScanReach, an innovator in onboard wireless connectivity solutions designed specifically for the steel vessel environment, had joined the KVH Watch Solution Partner program to offer KVH Watch Cloud Connect services. ScanReach’s breakthrough onboard wireless connectivity technology enables data to travel anywhere on the vessel without cabling; combined with KVH Watch Cloud Connect, the data will travel to the cloud for useful data analysis to improve vessel performance.
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Know More About What the Enterprise VSAT Systems Market Repost Covers
Future Market Insights offers an unbiased analysis of the global Enterprise VSAT Systems Market, providing historical data for 2015-2021 and forecast statistics from 2022-2032. To understand opportunities in the Enterprise VSAT Systems Market, the market is segmented on the basis of component, type, enterprise size, and end-use industry across five major regions.
Key Segments Covered In The Enterprise VSAT Systems Industry Report
- Enterprise VSAT Hardware Systems
- Enterprise VSAT Services
- Dedicated Bandwidth VSAT Systems
- Shared Bandwidth VSAT Systems
By Enterprise Size:
- Enterprise VSAT Systems for SMEs
- Enterprise VSAT Systems for Large Enterprises
By End-Use Industry:
- Industrial Enterprise VSAT Systems
- Enterprise-based Enterprise VSAT Systems
- North America
- South America
- Asia Pacific
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