Global SSL VPN Market Expected to Reach $5,328 Million by 2023 - Allied Market Research
PORTLAND, Oregon and PUNE, India, February 20, 2018 /PRNewswire/ --
According to a new report by Allied Market Research, titled, "SSL VPN Market by Mode of Remote Access, Component, and Organization Size: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global SSL VPN market was valued at $3,077 million in 2016, and is projected to reach $5,328 million by 2023, growing at a CAGR of 7.5% from 2017 to 2023. The thin-client mode of remote access segment is anticipated to grow at the highest growth rate during the forecast period.
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North America was the highest revenue contributor to the market in 2016, owing to infrastructural development and increase in adoption of SSL VPN. Asia-Pacific SSL VPN market is expected to grow at the highest rate during the forecast period, owing to considerable economic growth in Southeast Asia, India, & other economies and increase in bring-your-own-device (BYOD) trend.
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The large-scale organization segment contributed the highest share of global SSL VPN market, accounting for $1,992 million in 2016, and is projected to grow at a CAGR of 7.3% during the forecast period. The SMEs segment is projected to grow at the highest rate of 8.0% during the forecast period.
SSL VPN technology witnessed high demand across the world, especially in the Americas and European countries. High internet penetration, rise in BYOD trend, change in dynamics of businesses owing to expansion and globalization, and high investments from the organizations to offer secure and authenticated access to the data have positively impacted on the growth of the SSL VPN market. Rise in cyber-crimes, unauthorized access of data by intruders, high costs of security mechanism installments, and cost-effective benefits of SSL VPN are expected to offer growth opportunities for the market among large organizations and SMEs all across the world.
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The report features a competitive scenario of the global SSL VPN industry and provides a comprehensive analysis of key growth strategies adopted by the major players. The key players profiled in the study are Cisco Systems, Inc., Citrix Systems, Inc., Pulse Secure, LLC, F5 Networks, Inc., Barracuda Network, Inc., H3C Technologies Co., Limited, Array Networks, Inc., Check Point Software Technologies, Ltd., QNO Technology, Inc., and Symantec Corporation. These players have adopted strategies such as geographical expansions, mergers & acquisitions, new product launches, and partnerships & collaborations to gain a strong foothold in the market.
KEY FINDINGS OF SSL VPN MARKET STUDY
- The tunnel mode of remote access segment accounted for the highest share of the global SSL VPN industry in 2016, growing at a CAGR of 7.7% from 2017 to 2023.
- The large organization segment generated the highest share of revenue in 2016, and is projected to grow at a rate of 7.3%.
- The North American SSL VPN market generated the highest share, accounting for $1,006 million in 2016.
- SSL VPN market for small & mid-size organizations is expected to witness the highest growth during the forecast period.
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