SSL VPN Market To Reach USD 12.7 Billion By 2032, Says DataHorizzon Research

The SSL VPN market size was valued at USD 5.6 Billion in 2023 and is expected to reach a market size of USD 12.7 Billion by 2032 at a CAGR of 9.4%.

Fort Collins, Colorado, May 08, 2024 (GLOBE NEWSWIRE) —

The rise in remote work culture has boosted industry growth.

The surge in remote work practices has notably fueled the demand for SSL VPN solutions. According to a collaborative study by the University of Chicago, ITAM, MIT, and Stanford University, approximately 12.7% of full-time employees now work from home, with around 28% adopting a hybrid work model. With organizations increasingly embracing flexible work arrangements, the necessity for secure remote access solutions like SSL VPNs has become paramount. SSL VPNs empower employees to securely connect to corporate resources from any location via standard web browsers, ensuring seamless business operations and productivity amidst evolving work paradigms.

The rising instances of cyber threats and data breaches have underscored the critical importance of data security and privacy for businesses. As per the 2023 Cost of a Data Breach Report by IBM Security, the average data breach cost surged by 15.3%, reaching USD 4.45 million in 2023 from USD 3.86 million in 2020. Organizations are ramping up investments in robust security measures, including SSL VPNs, to mitigate these risks and safeguard sensitive information. SSL VPNs establish a secure and encrypted conduit for data transmission, ensuring the confidentiality and integrity of information shared between remote users and corporate networks. Moreover, the growing emphasis on data protection and compliance with regulations like GDPR and HIPAA further propels the adoption of SSL VPNs. 

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Segmentation Overview:

The SSL VPN market has been segmented into component, technology, organization size, and region.

Large enterprises accounted for a significant market share in the forecast period.

  • Based on the market segmentation by organization size, the large enterprises segment held the largest market share in the SSL VPN market in 2023. Large enterprises need more secure remote access solutions due to their complex network infrastructures, distributed workforce, and stringent security requirements. 

Software is the fastest-growing component in the forecast period.

  • Based on the market segmentation by component, the software segment dominated the SSL VPN market in 2023. The dominant position of the software segment can be attributed to the increasing demand for secure remote access solutions and the growing adoption of cloud-based services. 

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SSL VPN Market Report Highlights:

  • The SSL VPN market growth is anticipated at a CAGR of 9.4% by 2032.
  • The rise in remote work practices has significantly fueled the demand for SSL VPN solutions.
  • During the forecast period, the Asia-Pacific region is anticipated to be the fastest-growing regional market for SSL VPNs. The rapid digitization of businesses, the increasing adoption of cloud computing, and the growing demand for secure remote access solutions are the key factors driving the growth of the SSL VPN market in the Asia-Pacific region.
  • Some prominent players in the SSL VPN market report include Cisco Systems, Pulse Secure, Citrix Systems, Check Point Software Technologies, Fortinet, Barracuda Networks, F5 Networks, Array Networks, SonicWall, OpenVPN, Sangfor Technologies, and H3C Technologies. 

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About DataHorizzon Research:

DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.

Contact:

Mail: sales@datahorizzonresearch.com

Ph: +1-970-672-0390

Website: https://datahorizzonresearch.com/

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CONTACT: Mail: sales@datahorizzonresearch.com Ph: +1-970-672-0390 Website: https://www.datahorizzonresearch.com 

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