By Region, the study provides market insights into North America, Europe, Asia-Pacific, Middle East & Africa and South America. The North America Micro VSAT market accounted for ~37% in 2022. It is expected to exhibit a significant CAGR growth during the study period. owing to rapid adoption of satellite communication technology and increasing research & development activities for reducing antenna size. The market is further driven by increasing demand for maritime communication and growing adoption of wireless communication in many industries in North America region.
Furthermore, the demand for micro VSAT is increasing in these regions owing to increasing number of fixed network and cellular communications. For instance, in April 2020, The Federal Communication Commission (FCC) announced the rise of 20% to 35% on fixed networks and 10% to 20% in cellular network post pandemic as compared to previous situations.
FIGURE 2: MICRO VSAT MARKET SIZE BY REGION 2025 VS 2034
Source: Secondary Research, Primary Research, Market Research Future Database, and Analyst Review
Further, the major countries studied in the market report are the U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Asia Pacific market accounts for the second-largest market share. The region comprises some fastest-growing economies, including China, India, Japan, South Korea, and Indonesia. Government initiatives have aided manufacturing facilities in China and economical, skilled labor are the major factors attracting global industry players. Increasing marine transportation and development of new oceanic trade routes from India and China to rest of the world have positively impacted the logistics of micro VSAT.
Europe is predicted to witness the third-fastest growth, due to rising demand for telecommunication, live broadcasting services, and private networks by corporates. Major industry players operating in the market are providing open architecture customizable micro VSAT solutions, increasing their scope of application and making them more user friendly. The European micro VSAT market revenue is likely to surpass USD 305 million by 2030, growing at more than 15% CAGR between 2022 and 2030. Presence of major industry players within the region and innovative solutions provided by range of service providers is assisting market competitiveness.
Germany dominates in Europe region owing to growing demand for secure communication for maritime and airborne IoT applications. As IoT becomes more mainstream, the related technology becomes cheaper and therefore more accessible to people and companies in European region. Due to the considerable increase in the number of IoT devices, the micro VSAT market continues to grow.
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