Albany, NY -- (SBWIRE) -- 01/28/2019 -- According to a new market report published by Transparency Market Research, the global enterprise VSAT system market was valued at US$ 3.48 Bn in 2016 and is expected to expand at a CAGR of 7.0% from 2018 to 2026, reaching US$ 6.46 Bn by the end of the forecast period. According to the report, North America was the largest contributor in terms of revenue to the enterprise VSAT system market in 2016.
Improvements in the technology of VSAT systems permits optimized transponder utilization of HTS. This is done by supporting higher modulation schemes, such as 32 Amplitude. This situation is expected to fuel the adoption of enterprise VSAT system and increase the capacity of the usage of the transponders. An improvement in telecom networks worldwide has enhanced the uplink and downlink data speed. Enterprise High-Throughput is a rapid satellite service of broadband that is available in the market.
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Increasing applications of satellite services in anticipated to boost the enterprise VSAT system market. VSAT being a geosynchronous satellite, floats on a fixed spot and can cover a third of the Earth's surface with its beam and can provide connectivity to any area covered by the satellite beam. In addition, the cloud offers many opportunities to reduce costs and grow a business. Cloud-based services often present a more economical and simplified solution to the user, but consequently make a highly reliable and robust connection to the Internet that much more critical. Satellite broadband offers a truly unique connectivity solution in many regions of Africa and the Middle East where terrestrial bandwidth may be sparse or unavailable.
The global market for enterprise VSAT systemis segmented on the basis of component, type, enterprise size,industry, and geography. On the basis of component, the market has been segmented into hardware and services. The hardware segment is further segregated into antennas, modem, and others. The services segment includes maintenance and installation. In terms of type, the market has been divided into dedicated bandwidth VSAT system and shared bandwidth VSAT system. Dedicated bandwidth VSAT system is anticipated to hold the largest market share during the forecast period.
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This is because dedicated bandwidth VSAT system is one of the most reliable Ku-Band and C-Band VSAT services available in today's market. Based on enterprise size, the global Enterprise VSAT System marketis bifurcated into small & medium enterprises (SME's), and large enterprises. In terms of industry, the market is divided into industrial and enterprises. The industrial segment is further classified into aerospace & defense, manufacturing, energy, oil & gas, and telecom. The enterprises segment is further classified into BFSI, IT, retail, entertainment &media, education, healthcare, and government.