[ISN] Secure network spending seen over $46 bln by 2006

From: InfoSec News (isnat_private)
Date: Tue Jun 11 2002 - 01:24:27 PDT

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    06/10/02 04:47 PM
    Source: Reuters
    SAN FRANCISCO, June 10 (Reuters) - Spending on "virtual private
    networks" will grow more than 100 percent over the next four years,
    topping $46 billion worldwide in 2006 as companies increasingly jump
    online and the ranks of telecommuting employees grow, according to a
    forecast released on Monday.
    Virtual private network (VPN) technology allows users of private
    networks, mainly corporate networks, to transmit secure electronic
    data and content over public online networks.
    That allows companies to replace expensive private networks with less
    expensive online access to the Internet.
    San Jose, California-based market research firm Infonetics Research
    Inc. forecast that worldwide spending by VPN users on VPN products and
    services will rise 117 percent to $46.2 billion in 2006 from $21.3
    billion this year.
    Affordability and security will join rising electronic commerce and
    more and more remotely-based and mobile workers as spurs to increased
    VPN spending by companies, said Jeff Wilson, executive director of
    Infonetics Research.
    "Because of the cost savings potential of VPNs, and general interest
    in security, the VPN market is still growing strongly despite a nearly
    two-year-old economic downturn," Wilson said.
    Infonetics said its forecast is based on interviews with 240
    purchasing decision-making network managers at small, medium, and
    large organizations.
    Separately on Monday, VPN technology provider Check Point Software
    Technologies Ltd. said its current second quarter was going according
    to plan, with healthy demand from customers despite the weak economy.  
    The Israeli company makes software to block intruders from breaking
    into virtual private corporate networks.
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