The VSAT market is projected to grow from USD 7.5 billion in 2022 to USD 16.4 billion by 2027, at a CAGR of 16.9% from 2022 to 2027.
The VSAT market has been witnessing significant growth over the past few years that is expected to continue during the forecast period. This growth can be attributed to the growing demand for VSAT systems from various verticals. The rising demand for VSAT mobile solutions and the increasing need for high-throughput satellite services are also expected to drive the VSAT market.
Very Small Aperture Terminal Market Driver: Increased adoption of VSAT technology for crew welfare in oil & gas industry
The oil & gas industry operates in remote onshore and offshore environments where the use of land-based communications is not practical or reliable. However, reliable communication services are imperative for smooth business operations and operational safety. Crew welfare is one of the key applications for VSAT systems in the oil & gas industry. Crews working on oil platforms and rigs are deployed for weeks or months and need a stable internet connection to be able to keep in touch with the outside world and their families. In addition to this, internet connectivity in the oil & gas industry is also required for mobility solutions and to control and monitor remote equipment and processes.
In January 2022, Nelco Ltd. was awarded a contract worth USD 400 million by Oil and Natural Gas Corporation (ONGC) to provide satellite communications at offshore sites. The scope of the project entails the supply, commission, and maintenance of ONGC’s captive very small aperture terminal (VSAT)-based network. This network will be used to enhance the communication infrastructure of ONGC’s Western India offshore sites.
Restraint: Issues with Connectivity at sea
A sound internet system should search for overlapping beams that take advantage of redundancy in satellite coverage. Bandwidth restrictions and coverage have been a major issue with connectivity at sea. Other issues, such as unstable connections, lack of coverage, lapses in service, and long delays are also faced by maritime platforms while catering to marine applications.
Functional connectivity can significantly reduce operating costs. Proper connectivity at sea helps to improve fuel consumption with proper GPS connectivity, monitor performance, update real-time weather reports, and fine-tune planning to cater to marine applications
Opportunity: Rising need for VSAT systems to enable telemedicine in remote location
One of the biggest healthcare issues in many countries today is the lack of medical services in rural and remote regions. Telemedicine, enabled with the help of VSAT systems, is considered to be one of the optimal ways to serve remote and rural areas with professional healthcare services.
VSAT systems provide the required connectivity between users of medical applications, databases, video, and phones at remote locations, and allow communication with remote and mobile sites. VSAT systems provide crucial communication between remote clinics and doctors engaged in on-site medical support and medical experts in various urban hospitals. Diagnostic data, images, and live videos can be transmitted between two locations or to a multi-location conference session, regardless of the location. VSAT systems also provide the bandwidth to access logistical information and information regarding hospitals and medical resources.
Challenge: Cybersecurity concerns
Incidents of cybersecurity breaches have increased across the globe in the last few years. In 2014, serious design defects and vulnerabilities in a popular VSAT system were identified by IOActive, a US-based security firm. According to IOActive, these design vulnerabilities could allow hackers to intercept, block, manipulate, and even take full control of critical communication systems, thereby affecting operations of VSAT systems used on the ground, airborne, and marine platforms. Various security measures have been undertaken by major VSAT manufacturers to safeguard their communication systems from these issues.
With more ships being connected to broadband internet through VSAT solutions, there is a greater need for security to mitigate cyber risks. Connected ships will have to look at different levels of protection in terms of cybersecurity, depending on their degree of connectivity. The increasing use of smart shipping is compromising the integrity and reliability of monitoring systems. These could be affected by cyber threats if the smart ship systems use the internet for the transmission of data. Thus, cyber-enabled assets need security from these threats.
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