Global Virtual Private Network (VPN) Market is experiencing rapid growth due to the escalating concerns over online privacy, security, and the increasing need for secure remote access solutions in an interconnected digital world in the forecast period 2024-2028.
According to TechSci Research report, “Virtual Private Network Market – Global Industry Size, Share, Trends, Opportunity, and Forecast 2018-2028”, The Global Virtual Private Network (VPN) market has witnessed significant growth and is poised to expand even further in the coming years. A VPN is a technology that allows users to establish a secure and encrypted connection over a public network, such as the internet. It provides a secure pathway for data transmission, ensuring privacy and confidentiality. The increasing adoption of VPNs across various industries, including banking, healthcare, and IT, is driving the market’s growth.
One of the key factors contributing to the growth of the VPN market is the rising concern for data security and privacy. With the increasing number of cyber threats and data breaches, organizations are becoming more cautious about protecting their sensitive information. VPNs offer a secure way to transmit data, making it difficult for hackers to intercept and access confidential information. This has led to a surge in demand for VPN services, as businesses strive to safeguard their data and maintain customer trust. Furthermore, the growing trend of remote working and the need for secure access to corporate networks have also fueled the demand for VPNs. With the COVID-19 pandemic forcing organizations to adopt remote work policies, employees need a secure connection to access company resources. VPNs provide a reliable solution by encrypting data and ensuring secure remote access, enabling employees to work from anywhere without compromising data security. Moreover, the increasing adoption of cloud-based services and the rise of IoT (Internet of Things) devices have further propelled the demand for VPNs. As organizations migrate their data and applications to the cloud, the need for secure connectivity becomes paramount. VPNs enable secure communication between cloud-based resources and end-users, ensuring data integrity and confidentiality. Additionally, with the proliferation of IoT devices, which are susceptible to cyber attacks, VPNs offer a secure channel for transmitting data between these devices and the central network.
The VPN market is also benefiting from the growing awareness of government surveillance and censorship. In countries where internet freedom is restricted, individuals and businesses are turning to VPNs to bypass censorship and access blocked content. VPNs allow users to mask their IP addresses and appear as if they are accessing the internet from a different location, thereby circumventing restrictions imposed by governments or internet service providers. However, despite the numerous growth opportunities, the VPN market faces certain challenges. One of the major concerns is the increasing number of free VPN services that compromise user privacy. Many free VPN providers collect and sell user data, defeating the purpose of using a VPN for privacy protection. This has led to a growing demand for premium VPN services that offer robust security features and strict no-logs policies.
In conclusion, the Global Virtual Private Network market is experiencing significant growth due to the increasing need for data security, remote access, and bypassing censorship. As organizations and individuals become more aware of the importance of protecting their data, the demand for VPN services is expected to continue rising. However, it is crucial for users to choose reliable and trustworthy VPN providers to ensure their privacy and security are not compromised.
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The Global Virtual Private Network Market is segmented by Component, Type, Deployment Mode, End Use, and region. Based on Component, the market is bifurcated into Solution, Services. Based on Type, the market is bifurcated into Site-To-Site, Remote Access, Extranet. Based on Deployment Mode, the market is bifurcated into Cloud, On-premise. Based on End Use, the market is bifurcated into Commercial, Individua, Others. Based on region, the market is further bifurcated into North America, Asia-Pacific, Europe, South America, Middle East & Africa.
Based on Component, the solution segment accounted for the largest revenue share of over 64.0% in 2019. The services segment is expected to register a significant CAGR over the forecast period. Virtual private network solutions have been gaining high traction, particularly among commercial vendors and individual solution providers, over the past few years. The rapidly-changing nature of work and the changing commercial requirements for virtual private networks would continue to drive the demand for VPN services.
A typical virtual private network solution includes control features, reporting, and management. Over the past few years, vendors have been collaborating with mobile VPN vendors and NAC solution providers as part of the efforts to drive the sales of VPN solutions. VPN services are aimed at enabling the virtual private network to secure a remote connection. Besides, vendors are allowing buyers to compare the prices online in real-time, thereby helping cost-conscious buyers in assessing the VPN services on offer before making a buying decision. At the same time, advances in technology coupled with economies of scale are also expected to allow providers to further reduce their cost structure and accelerate their investments in other aspects.
Based on Type, the remote access segment accounted for the largest revenue share of 35.8% in 2019. This can be attributed to the increasing number of franchised dealers in the market. The extranet segment is expected to register a significant CAGR over the forecast period. The growth can be attributed to the growing usage of extranet by enterprises to post private information on public networks. Moreover, companies are also focusing more on extending their internal web applications to the company’s partners and consumers.
The need for remote access and site-to-site connectivity has been increasing gradually to ensure seamless connectivity. Remote access and site-to-site connection ensure bandwidth and data comparison optimization. The proliferation of mobile VPN devices and the growing need for remote accessibility has been driving the demand for remote virtual private network solutions over the past few years. Remote access can particularly help organizations in complying with security regulations.
Key market players in the Global Virtual Private Network Market are: –
- Avast Software s.r.o.
- BlackBerry Limited
- Cisco Systems, Inc.
- Citrix Systems, Inc.
- CyberGhost S.R.L.
- Google LLC
- IBM corporation
- NetMotion Software
- Opera Group Company
- WatchGuard Technologies, Inc
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Based on region, North America accounted for the largest revenue share of 35.1% in 2019 owing to the rapid growth in the demand from telecommunications and BFSI, among other industries and industry verticals in the U.S. The European market also accounted for a notable market share and is expected to witness steady growth. On the other hand, Asia Pacific is projected to register the highest CAGR over the forecast period in line with the increasing adoption of VPN solutions and services in China, India, and other Asian countries. China is currently dominating the Asia Pacific region with a rising number of organized players with mobile VPN services. As there are various government policies and regulations regarding popular websites, offering the virtual private network as a solution provided a number of opportunities for entrepreneurs in China, Indonesia, and other Asian countries. Additionally, using VPN services has availed easy networking, and streaming in Asian countries. Using the virtual private network also ensures users about the encryption of their data and protection from hackers. These are the factors that have become significant driving factors to boost the demand for VPN solutions and services in Asian countries.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Virtual Private Network Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Product (Cloud, Non-Cloud), By Storage System (Direct-Attached, Cloud, Network-Attached Storage, Unified, Software-Defined), By Technology (Magnetic, Solid-state) By Region, and By Competition,” has evaluated the future growth potential of Global Virtual Private Network Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Virtual Private Network Market.
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