CHICAGO, July 1, 2020 /PRNewswire/ -- According to the new market research report "VSAT (Very Small Aperture Terminal) Market by Network Architecture, Vertical, Frequency, Solution (Equipment, Support Services, Connectivity), Platform (Land, Maritime, Airborne), End-Use (Broadband, Voice, Broadcast), and Region - Global Forecast to 2025", published by MarketsandMarkets, the global VSAT market size is projected to grow from USD 9.5 billion in 2020 to USD 13.7 billion by 2025, at a CAGR of 7.5% from 2020 to 2025. The market is driven by various factors, such as the growing demand for VSAT systems from the maritime industry and increasing demand for VSAT on-the-move solutions for various platforms, and commercial services are the major drivers of VSAT market.
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The VSAT market includes major players Gilat Satellite Networks (Israel), L3 Harris Technologies (US), Viasat Inc (US), Inmarsat Global Limited (UK), and Orbit Communication System (Israel). These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East, Africa, and South America. COVID-19 has impacted their businesses as well. Industry experts believe that COVID-19 could affect VSAT production and services by 7-10% globally in 2020.
Based on the platform, the Land VSAT segment is expected to lead the VSAT market share during the forecast period.
The land VSAT is estimated to have the largest market share by value. The growth of this segment can be increasing use of the VSAT system on land-based platforms for effective connectivity is driving the land VSAT segment during the forecast period. VSATs are used across the world as a means of delivering broadband internet access to sites which cannot get asymmetric digital subscriber line (ADSL) or fiber internet access, and remote or rural locations. Land VSATs are based on IP, offering a broad spectrum of applications. Land VSATs are used in command & control centers, Earth stations, and commercial buildings.
Broadband/data networks segment is estimated to be the largest and fastest-growing market
The broadband/data network is estimated to be the largest and fastest-growing segment in the VSAT market. The growth of this segment can be attributed to increased demand for efficient broadband connectivity. In 2019, Telecom operator, Bharti Airtel, and Hughes Communications India Ltd (HCIL) announced to combine VSAT satellite operations with broadband service connectivity.
Based on the vertical, the maritime segment is expected to lead the VSAT market share during the forecast period.
The maritime veritcal segment is estimated to have the largest market share by value. Growth of this segment can be a rise in traffic demand and the increase in the number of devices per passenger per ship, cruise liners upgrading their VSAT networks to support higher-speed Internet, onboard wireless services, and entertainment and streaming video. VSAT could also be leveraged for regulatory reporting, fleet management, mobile connectivity of ships, and effective ship-to-shore communications.
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The market for VSAT in the Asia Pacific is projected to grow at the highest CAGR rate during the forecast period
Asia Pacific is projected to be the highest CAGR rate for the VSAT market during the forecast period. The growth of this region is attributed to the demand for advanced VSAT systems in the maritime industry is driving the market. In August 2018, Singtel and KVH, a global satellite and maritime communications provider, announced a partnership to provide broadband satellite service with KVH's mini-VSAT Broadband satellite connectivity to shipping companies across the Asia Pacific region. This satellite service is designed to facilitate the use of digital solutions in the maritime industry to improve operational efficiency, crew welfare and onboard safety significantly.
Gilat Satellite Networks (Israel), L3 Harris Technologies (US), Viasat Inc (US), Inmarsat Global Limited (UK), and Orbit Communication System (Israel) are some of the leading players operating in the VSAT market report.
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