According to the latest report by IMARC Group, titled “Global Virtual Private Network (VPN) Market Size, Size, Share, Industry Trends, Report, Growth, Opportunity and Forecast 2022-2027“, the global virtual private network market reached a value of US$ 31.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 77.8 Billion by 2027, exhibiting a CAGR of 15.60% during 2022-2027.
A virtual private network (VPN) refers to an encrypted connection over the internet that ensures the safe transmission of sensitive data. It utilizes tunneling protocols to maintain privacy and offer secure communication between several group members using public telecommunication infrastructure. It provides enhanced security and privacy by masking the internet protocol (IP) address of the users to make their online actions virtually untraceable. It also prevents unauthorized individuals from eavesdropping on the traffic, allowing the users to conduct work remotely. As a result, VPN finds extensive applications across the corporate sector to ensure full-time, high-speed, and secure connectivity.
Virtual Private Network Market Trends and Drivers:
The global virtual private network market is primarily driven by the growing concerns regarding data security due to the rising cyberattacks and data breaches. In addition, the surging need to protect crucial business data and transactions has escalated the demand for highly secure technologies like VPNs.
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Besides this, the increasing usage of video and web conferencing solutions among organizations for communication amid the ongoing coronavirus (COVID-19) pandemic has accelerated the product adoption rate. Furthermore, product innovations, such as the launch of virtual private cloud (VPC) to provide a secure gateway and private on-premise access to cloud resources, have catalyzed the market growth.
Other factors, including the surging penetration of high-speed internet, emerging trend of bring-your-own-device (BYOD), rising utilization of media streaming services, and escalating demand for online and remote education, are also anticipated to drive the market further.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Virtual Private Network Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Array Networks Inc., Avast Software s.r.o., BlackBerry Limited, Check Point Software Technologies Ltd., Cisco Systems Inc., Citrix Systems Inc., CyberGhost S.R.L., Google LLC, International Business Machines Corporation, Juniper Networks Inc., Microsoft Corporation and NetMotion Software (Absolute Software Corporation).
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The report has segmented the market on the basis of region, component, type, deployment mode and end use industry.
Breakup by Component:
- Hardware
- Software and Services
Breakup by Type:
- Remote Access VPN
- Site-to-Site VPN
- Others
Breakup by Deployment Mode:
- On-premises
- Cloud-based
Breakup by End Use Industry:
- BFSI
- Healthcare
- IT
- Government
- Manufacturing
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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