South Korea Mpls Ip Vpn Market Size & Outlook, 2023-2030
South Korea mpls ip vpn market, 2018-2030 (US$M)
Related Markets
South Korea mpls ip vpn market highlights
- The South Korea mpls ip vpn market generated a revenue of USD 904.7 million in 2023 and is expected to reach USD 1,608.2 million by 2030.
- The South Korea market is expected to grow at a CAGR of 8.6% from 2024 to 2030.
- In terms of segment, layer 3 was the largest revenue generating service in 2023.
- Layer 3 is the most lucrative service segment registering the fastest growth during the forecast period.
Mpls ip vpn market data book summary
| Market revenue in 2023 | USD 904.7 million |
| Market revenue in 2030 | USD 1,608.2 million |
| Growth rate | 8.6% (CAGR from 2023 to 2030) |
| Largest segment | Layer 3 |
| Fastest growing segment | Layer 3 |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Layer 2, Layer 3 |
| Key market players worldwide | AT&T, Lumen Technologies Inc Ordinary Shares, Cisco Systems Inc, GCX Corporation, Reliance Global Group Inc, Telefonica SA, Telstra Group Ltd, Deutsche Telekom AG, Verizon Communications Inc |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.4% of the global mpls ip vpn market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China mpls ip vpn market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 7,681.1 million by 2030.
Layer 3 was the largest segment with a revenue share of 64.88% in 2023. Horizon Databook has segmented the South Korea mpls ip vpn market based on layer 2, layer 3 covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea boasts one of the most advanced telecommunications infrastructures in the world, with widespread high-speed internet and 5G network infrastructure. The infrastructure supports the deployment and expansion of MPLS VPN services.
Moreover, cybersecurity concerns are a top priority for South Korean businesses; hence, regional service providers offering robust security features and compliance with data privacy regulations like the Act on the Protection of Personal Information (PIPA) will be well-positioned for growth.
Furthermore, South Korea’s government supports digital transformation and the development of smart cities, which require robust networking solutions. Policies and initiatives promoting digital infrastructure development boost the MPLS IP VPN market in the country.
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MPLS IP VPN Market Scope
MPLS IP VPN Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea MPLS IP VPN Market Outlook Share, 2023 & 2030 (US$M)
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