Future Market Insights (FMI) states that in 2018, the market for IP-MPLS VPN services reached US$ 37,689.9 million. In 2022, demand for IP-MPLS VPN services grew by 7.2% year-over-year. In 2023, it is anticipated that the global market will be worth US$ 52,990.6 million.
The market is predicted to surge at a CAGR of 8.8% between 2023 and 2033. By the end of 2033, it’s likely to surpass a market worth US$ 123,727.5 million.
A number of important variables are driving demand for IP-MPLS VPN services in the market. Growth of cloud-based apps and surging reliance on digital connection have fueled demand for safe & dependable network infrastructure. Improved data privacy and secrecy are provided by IP-MPLS VPN services, protecting sensitive data and reducing the danger of cyberattacks.
Demand for effective & scalable connection solutions has increased as firms grow internationally and set up geographically dispersed operations. Services such as IP-MPLS VPNs offer smooth connectivity across several sites. These enable businesses to expedite communication between offices, data centers, and remote workers, as well as consolidate their network architecture.
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Strong & high-performance network connectivity is necessary due to the increasing adoption of bandwidth-intensive applications such as video conferencing, real-time collaboration tools, and data-intensive cloud services. Quality of service (QoS) methods provided by IP-MPLS VPN services can be trusted.
These also aid in lowering latency, jitter, and packet loss while guaranteeing the delivery of vital data packets at the top of the priority list. Businesses can utilize this to improve user experience for bandwidth-sensitive applications and network performance.
Businesses desire easier management and control of their network infrastructure due to the complexity of network environments. Services for IP-MPLS VPNs offer centralized management and monitoring tools.
These would make it possible for businesses to deploy, configure, and monitor their network resources effectively. As a result, network administration is made even more simple, operating expenses are decreased, and flexible response to changing business requirements is made possible.
Key Takeaways from the IP-MPLS VPN Services Market Study:
- The global IP-MPLS VPN services market showcased an average CAGR of 0% in the historical period from 2018 to 2022.
- The United States IP-MPLS VPN services industry hence accounted for a share of 2% in 2022.
- India IP-MPLS VPN services market is anticipated to witness a CAGR of 2% in the assessment period.
- Based on service, the MPLS L2 services segment held a dominant market share of 1% in 2022.
- By industry, the IT & telecom sector is estimated to elevate at a CAGR of 6% over the assessment period.
“Businesses that use the internet to communicate with their staff, clients, and partners need a trustworthy and safe method of doing so. Multiple sites can be connected securely and reliably using IP MPLS VPNs over the open internet. Demand is expected to be driven by emergence of new services with cutting-edge features such as encryption and authentication.” – Says a lead analyst at Future Market Insights (FMI).
Competitive Landscape
IP-MPLS VPN service providers are working on optimizing their network infrastructure and operational costs to offer competitive pricing to customers. Streamlining internal processes, adopting efficient routing technologies, and leveraging economies of scale are a few common approaches to achieve cost optimization.
Renowned providers are focusing on offering unique and differentiated services to stand out in the market. This includes features such as enhanced security, quality of service (QoS) guarantees, flexible bandwidth options, and value-added services such as managed network services or cloud integration.
New entrants in the market are investing in building robust and highly available networks with low latency, minimal packet loss, and high throughput. Ensuring consistent network performance and reliability is crucial to meet the demands of customers & maintain a competitive edge.
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For instance,
- The Société du Grand Paris (SGP) stated in December 2022 that it had installed Nokia’s mobile core and radio access network, which is 5G ready IP-MPLS, for the Grand Paris express. The IP-MPLS deployment will aid in meeting operational and upkeep needs.
Key Points Covered in IP-MPLS VPN Services Market Survey
By Service:
- MPLS L2 Services
- MPLS L3 Services
By Industry:
- BFSI
- Healthcare
- IT & Telecom
- Government
- Retail & Consumer Goods
- Others
By Enterprise Size:
- Small Offices (1 to 9 employees)
- Small Enterprises (10 to 99 employees)
- Medium-sized Enterprise (100 to 499 employees)
- Large Enterprises (500 to 999 employees)
- Very Large Enterprises (1,000+ employees)
By Region:
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Western Europe
- Eastern Europe
- Central Asia
- Russia & Belarus
- Balkan & Baltics
- Middle East and Africa
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Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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