Viasat (VSAT) Launches Data Plans for Small-Scale Enterprises
Viasat Inc. VSAT recently announced the launch of Business Choice Internet Service Plans to cater to the connectivity requirements of small and medium enterprises. The service will provide businesses access to reliable connectivity that can reach up to 100 Mbps download speeds coast to coast and 150 Mbps in some selected areas.
Viasat’s network is fine tuned for VoIP (Voice over Internet Protocol) to efficiently support Internet-based voice services. Its unlimited office hours feature enables businesses to utilize various business applications without any data consumption. Additionally, business owners can opt for premium customer support from live agents and choose data boost options for additional high-speed data packs. The offerings also include a built-in WIFI system and seamless installation process.
Per the Small Business Administration, around 32 million small businesses in the U.S. rural areas have limited access to broadband connectivity. This lack of connectivity restricts access to online markets, hinders e-commerce participation for businesses and impedes customer expansion. It also hampers the adoption of modern data-driven digital technologies, leading to inefficiencies in operations and reduced competitiveness.
Per the small business index, around 33% of small businesses feel positive about the national and local economy and optimistic about their future prospects. However, limited access to robust broadband connectivity immensely affects the growth potential of these businesses.
Viasat is taking active initiatives to understand the evolving dynamic of small and medium businesses in remote regions facing connectivity challenges. This lack of connectivity in these areas poses a significant business opportunity. The company is aiming to capitalize on this underserved market segment.
Viasat's Business Choice Internet Service Plans aim to provide stable, high-speed broadband to small and mid-sized businesses, particularly in geographically challenging locations where terrestrial networks are non-existent. This initiative intends to enable the swift adoption of advanced digital technologies, such as cloud-based applications that streamline data storage and processing.
The Internet packs also include various communication services like VoIP and video conferencing. Additionally, Viasat offers backup service plans, ensuring connectivity during network outages or adverse weather conditions and enhancing the resilience of the network system. Leveraging these features will significantly boost local organization’s capability to expand their client reach at a global scale, unlock new opportunities and continuously stay connected with customers and other businesses as well.
Viasat’s impressive bandwidth productivity sets it apart from conventional and lower-yield satellite providers that run on incumbent business models. It has a competitive advantage in bandwidth economics, global coverage, flexibility and bandwidth allocation, which makes it believe that mobile broadband will act as a profit churner with a significant improvement in in-flight connectivity revenues.
The stock has lost 17.3% over the past year against the industry's rise of 10.7%.
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Viasat currently has a Zacks Rank #3 (Hold).
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