The global virtual private network market is expected to grow by USD 70.88 billion by 2027, at a CAGR of 16.5% during the forecast period 2020-2027.
NEWARK, USA, NEW JERSEY, Aug 25, 2021 /EINPresswire.com/ – A new research report released by Fior Markets titled Virtual Private Network Market by Deployment (Cloud and On-Premises), Component (Hardware, Software and Services ), type, connectivity, organization size, end users, region and global forecast 2020-2027.
The global virtual private network market is expected to grow from USD 20.89 billion in 2019 to USD 70.88 billion by 2027, at a CAGR of 16.5% during the forecast period 2020-2027. North America, as a region, has the largest share of the market. Cyber attacks in the region have increased over the years. The majority of organizations are victims of such an attack, which is why the demand for security networks like VPN is increasing. However, Asia-Pacific is another reason that is expected to grow at the highest CAGR. The recent increase in internet usage, the demand for mobile phones, the digitization of important activities, especially the financing and adoption of digital mobility solutions are the factors which are contributing to the growth of the market.
The major players in the VPN market are CyberGhost, NordVPN, Golden Frog, Purevpn, IPVanish, Buffered VPN, Microsoft Corporation, Private Internet Access, NetGear Inc., SaferVPN, Century Link Google, Rackspace, Huawei and others. Private Internet Access in March 2020 released WireGuard which runs at layer three and is expected to be implemented in the Linux kernel.
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The deployment segment includes cloud and on-premises. The components segment includes hardware, software and services. Hardware is the dominant market. The demand for VPN routers is increasing as they provide security against DNS and web leaks. In addition, VPN routers provide a built-in firewall that can restrict certain websites. The type segment includes Internet Protocol (IP), Multi-Protocol Label Switching (MPLS), Cloud VPN, and Mobile VPN. The multiprotocol label holds the largest market share. The growing business demand for MPLS is the main reason for the growth of the market. MPLS helps leverage the business by providing additional benefits such as Voice over Internet Protocol.
The connectivity segment includes site-to-site, remote access and extranet. Of these, site-to-site holds a maximum share. The growth of the market is attributed to profitability, lack of separate VPN setup and secure data transmission. The organization segment includes small businesses, mid-sized businesses, and large corporations. Of these, large companies have more VPN demands due to the massive security threat and information sharing. The end-user segment includes manufacturing, BFSI, government, utilities, healthcare, IT and telecommunications, and others. IT and telecommunications constitute the major segment. The main reason for the growth is the integration of IT and advanced technology. The increasing use of VPN in communication devices is also a reason contributing to the growth of the market.
The virtual is generally a cohesive communication network. It helps users to share data on public networks. It secures a connected network by combining different technologies. The most beneficial feature of a VPN is that it securely connects all geographically separated offices and also helps unblock sites and bypass restrictions. The driving factor of the VPN market is the growing number of cybercrimes and the growing demand for cloud-based security. The VPN available on the public Internet offers additional advantages of the WAN.
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About the report:
The global virtual private network market is analyzed on the basis of value (USD billion), volume (K units), exports (K units) and imports (K units). All segments were analyzed on a global, regional and national basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges to gain key insights into the market. The study includes the model of the five forces of the wearer, the analysis of attractiveness, the analysis of raw materials and the analysis of the positioning grid of the competitors.
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