The rising number of enterprises coupled with rapid digitalization are expected to drive the demand for Very Small Aperture Terminals (VSATs) over the projected period.
Due to the increasing volume of goods being exported and imported as well as the emergence of China and India as some of the prominent global manufacturing hubs has resulted in expandedf trade routes from Asia Pacific to Europe and North America. Usage of VSAT for communication on ships will add to the growth of the market in the forthcoming years.
Several emerging economies, particularly in Asia Pacific and Latin America, have been undertaking initiatives to digitalize their economies to compete with their developed competitors. For instance, Mexico Conectado, an initiative undertaken by the Government of Mexico aims at digitalizing the country to provide free internet in public spaces such as hospitals, schools, parks, squares and universities. Pegaso Banda Ancha (PBA), a satellite company, has deployed over 22,000 VSATs since 2004 in collaboration with Mexico's Ministry of Communication and Transport. In 2015, Pegaso, in partnership with Hughes, deployed the installation and services of another 5,000 VSATs.
Further, the Government of India has recently undertaken the Digital India Program with an aim to transform the country into a digitally empowered economy with focus on manufacturing, banking, education, and security. Although the country has access to submarine cables for international bandwidth, it has also initiated the use of satellite-based communication.