Home / VPN market tops US$25 billion

VPN market tops US$25 billion

VPN and security product & services expenditure is set to boom over the coming years. Infonetics Research estimates that worldwide VPN expenditure will grow 42%, from US$25.3 billion in 2003 to US$35.8 billion in 2007.<br>

Virtual private network (VPN) and security product & services expenditure in Europe is set to boom over the coming years. Infonetics Research estimates a growth of 69% between 2003 and 2007, taking the market from US$10.7 billion to US$18.1 billion.

Infonetics also reveals that worldwide VPN product and services expenditure is predicted to grow 42%, from US$25.3 billion in 2003 to US$35.8 billion in 2007.

End user spending on security services is also set to yield substantial growth returns. According to Infonetics, the worlwdwide services market will develop from US$5.2 billion in 2003 to US$9.8 billion in 2007, representing a growth of 88%.

According to the research group, fear of being hacked by outsiders is their main driving factor for purchasing security products and services.

"Hackers are becoming more sophisticated, using application layer attacks and the vulnerabilities created by the proliferation of internet connectivity and VPNs to ravage enterprise networks like never before," says Jeff Wilson, principal analyst, Infonetics Research.

"We are in a major state of technical innovation for VPN and security products because products have to get better at identifying and stopping attacks," he adds.

Follow us to get the most comprehensive technology news in UAE delivered fresh from our social media accounts on Facebook, Twitter, Youtube, and listen to our Weekly Podcast. Click here to sign up for our weekly newsletter on curated technology news in the Middle East and Worldwide.

REGISTER NOW | Webinar Event | Security you can bank on – Safeguarding the Middle East’s financial sector

Presented in partnership with security and network specialist Cybereason, the second in the three part webinar series will bring together a panel of experts to discuss how banks and financial institutions are evolving their service offering while simultaneously staying one step ahead of the cyber criminals who seek to bring their operations crashing to the ground.

CHANNEL AWARD 2018