This report will analyze the World firewall and Internet protocol security virtual private network (FW/IPSec VPN) hardware and software gateway markets. There are many varying market definitions of exactly what an IPSec VPN is. For the purposes of this report, the acronym IPSec VPN will refer to IP VPNs which create encrypted tunnels of communication through the Internet by using combinations of hardware and/or software at each endpoint. Since IPSec has emerged as the de facto standard for IP VPNs, this report will focus on IPSec products, although some products also support other tunnelling protocols. SSL VPN gateways have specifically been excluded from this report, although their effects on this market will be discussed in detail.