Bangalore: The market for satellite broadcast equipment in India is expected to grow almost five times to about 1,10,000 units in the next five years, a recent report by Price Waterhouse Coopers (PWC) said.

The growth will be driven by new applications such as distance education, internet, rural connectivity, banking and finance and gaming industry, the report on the VSAT industry by PWC, conducted for the financial year 2001-02 said.

"Over last year, the industry had benefited greatly from increased adoption of IT by non-IT companies, favourable regulations and overall macro-economic business confidence. Given the market structure and growth opportunities only the top two to three players may exist over the next four to five years," PWC said in a release in Bangalore on March 4.

The report said Hughes Escorts Communications Limited with a market share of 35 per cent was the leader in the satellite service provider segment.

PTI