The MPLS IP VPN services market is also known as the multi protocol labeled switching internet protocol virtual private network services market. It is anticipated to collect an income of about USD 26.7 billion by 2020. Inspite of growing significantly for the duration of last five years, the market is estimated to expand at a high rate. This is due to considerable growth prospective of administered MPLS IP VPN services.
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Various organizations have begun integrating MPLS IP VPN services for getting benefits. These include cost reduction and performance optimization. The worldwide MPLS IP VPN services market is projected to attain a value of about USD 26.6 billion by 2020. The coming together of voice, video and information on a sole portal from various sources and capability to offer scalable bandwidth are predicted to drive the MPLS IP VPN services market further.
The growth of the MPLS IP VPN services market in recent years has also led various establishments to substantially implement MPLS IP VPN services. Yet another factor which furthers the market is the decline of the ATM market owing to its intricate and costly nature. This factor has also flown growing demand for the market.
The various abilities of these services to offer scalable bandwidth and bring together information, voice and video from multiple portals to a sole portal are estimated to offer numerous expansion prospects to the MPLS IP VPN services market. There are certain companies that have adopted layer 3 and layer 2 MPLS IP VPN services. Layer 3 services have contributed majority of the income in the MPLS IP VPN market.
Stern policies in relation to the utilization of MPLS IP VPN for private applications, specifically in China and the Middle East are predicted to act as hindrances for the market.
Trends And Forecasts
As MPLS IP VPN services provide high service quality, video conferencing is anticipated to surface as the most significant application. Rising demand for MPLS IP VPN services in video conferencing is also likely to raise the sales of the MPLS IP VPN services market. Audio conferencing is projected to be one of the most quickly developing and lucrative applications.
The MPLS IP VPN services market is trifurcated on account of applications, services and regions. The applications market is inclusive of video conferencing, automated machines, audio conferencing and others. Amplified demand for MPLS IP VPN services across the aforementioned applications is also likely to steer further demand for the market. The services market has been mentioned above. The geographical regions MPLS IP VPN services market comprises Europe, Asia Pacific, rest of the world and North America.
Asia Pacific and North America were the two major MPLS IP VPN services markets in 2013. This was with respect to the existence of major market participants, meeting the demands of an expanding client base. Also, the incursion of global transporters in both these regions to cater to the needs of their Multi National Corporation customers has supported further growth of the MPLS IP VPN services market.
Information Source: Grand View Research