SSL VPN Market Expected to Reach $12.6 Billion by 2030

According to a new report published by Allied Market Research, titled, “SSL VPN Market," The SSL VPN market size was valued at $4.6 billion in 2020, and is estimated to reach $12.6 billion by 2030, growing at a CAGR of 10.9% from 2021 to 2030.

The global SSL VPN market is in its developing phase, and exhibits high growth potential, due to new features and services provided by the key players in the market. For instance, in March 2021, Cisco Systems, Inc., an American multinational technology conglomerate corporation, launched Cisco Plus to provide new flexible buying and consumption models to clients to enable them connect, protect, and automate to accelerate their digital agility in a cloud-first future. In addition, the demand for low-cost, convenient, and flexible security solutions and increase in awareness about IT security fuel the adoption of SSL VPN solutions and services among enterprises.

By component, the software segment acquired major SSL VPN market share. Increased user awareness of its commercial benefits, improved security features, and better marketing that focuses on the benefits of SSL VPN rather than technology are expected to drive growth for SSL VPN solutions. However, the solution segment is expected to grow with higher CAGR.

Region-wise, Asia-Pacific is anticipated to grow tremendously, and is expected to maintain this trend during the forecast period. SSL VPN adoption is affected by the migration from on-premise or datacenter deployments to cloud or hybrid infrastructure. Organizations debate on how to transition to cloud deployment without jeopardizing security policies. Furthermore, the rise in demand for enterprise mobility is expected to drive up the demand for SSL VPNs. This has a positive impact on SSL VPN growth in the Asia-Pacific region.

Companies urged employees to set up remote working capabilities in the wake of the spreading pandemic in order to ensure business continuity. The rise of teleworking, work-from-home, and remote workers poses a significant threat to most businesses' cybersecurity infrastructure. As work from home (WFH) became the new normal, businesses began to use secure sockets layer VPN to connect remote users to corporate resources and access important network resources remotely. Access, security, and performance were all in high demand. Thus, these factors promote the growth of the global SSL VPN industry during the pandemic situation.     

KEY FINDINGS OF STUDY

• By mode of remote access, the tunnel mode segment led the highest global SSL VPN market share, in terms of revenue in 2020.
• By component, the service segment is expected to exhibit the fastest growth rate during the SSL VPN market forecast period.
• Region-wise, North America generated the highest revenue in 2020.  

The key players operating in the global SSL VPN market analysis include, Cisco Systems, Inc., Citrix Systems, Inc., Pulse Secure, LLC (Ivanti), F5, Inc., Barracuda Networks, Inc. (Thoma Bravo), Unisplendour Corporation (H3C TECHNOLOGIES CO. LIMITED), Array Networks, Inc., Check Point Software Technologies Ltd., QNO Technology Inc., and NortonLifelock, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the SSL VPN industry.