The global virtual private network market size is expected to reach USD 92.60 billion by 2027, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 17.4% from 2020 to 2027. The rising level of cybersecurity threats is expected to drive the growth of the market over the forecast period. While high-speed data networks are being rolled out and connected devices are proliferating continuously, data security and privacy protection are emerging as major issues, as people visiting public places are often logging into unsecured Wi-Fi networks. Individuals are particularly targeted by hackers when they enter into vulnerable hotspots and log on to unsecured networks. This is driving the adoption of Virtual Private Networks (VPNs) and leverage the encryption provided by the VPN technology to protect people from malicious activities.
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The rising adoption of VPN solutions across several industry verticals and the growing security concerns are some of the significant factors that are driving the growth of the market. For an organization, a virtual private network can potentially encrypt any data to secure the organizational resources when the data is being transferred over a public internet connection. Thus, a VPN subsequently helps in saving expenses by eliminating the need for leased lines. A VPN also helps in improving operational efficiency. For instance, Brown Bear Corporation, which deals with utility, environmental, and manufacturing applications, uses a VPN solution to allow the company’s staff to connect to the Brown Bear store or the office to reduce the drive time and increase the management efficiency.
VPNs help in bypassing internet censorship. Since VPN services encrypt complete data, the government is unable to censor a VPN connection, thereby allowing both commercial users and individual users to access sites that would otherwise be impassable. Hence, companies and citizens often turn to VPN solutions to overcome enforced censorship and access the sites that are blocked in any particular country. As a result, although countries, such as China, and Russia, among others, have imposed strict restrictions on VPNs; these restrictions have increased awareness about VPNs rather than restraining the growth of the market.
Virtual Private Network Market Report Highlights
• The market is anticipated to witness significant growth over the forecast period, owing to rising security concerns across numerous end-use industries
• The continued research and innovation by technology companies are driving the adoption of advanced technologies in various industry verticals, such as BFSI, healthcare, retail, telecommunications, among others
• North America is expected to emerge as one of the leading regional markets owing to the aggressive spending on R&D and the high adoption of VPN solutions in the telecommunications industry. Asia Pacific is expected to witness substantial growth over the forecast period
• The growing demand for VPN solutions for commercial purposes is expected to drive the growth of the commercial segment over the forecast period
• The key market participants include Cisco Systems, Inc.; IBM Corporation; Opera Norway AS; Google LLC; Avast Software s.r.o.; Citrix Systems, Inc.; and NetMotion Software. These players are trying to dominate the market through service differentiation and quality enhancement leading to intense competition
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Virtual Private Network Market Segmentation
Grand View Research has segmented the global virtual private network market based on component, type, deployment mode, end-use, and region:
VPN Component Outlook (Revenue, USD Billion, 2016 - 2027)
• Solution
• Services
VPN Type Outlook (Revenue, USD Billion, 2016 - 2027)
• Site-to-site
• Remote Access
• Extranet
• Others
VPN Deployment Mode Outlook (Revenue, USD Billion, 2016 - 2027)
• Cloud
• On-premise
VPN End-use Outlook (Revenue, USD Billion, 2016 - 2027)
• Commercial
• Individual
VPN Regional Outlook (Revenue, USD Billion, 2016 - 2027)
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o U.K.
o France
• Asia Pacific
o China
o Japan
o India
• South America
o Brazil
• Middle East & Africa
List of Key Players in Virtual Private Network Market
• Avast Software s.r.o.
• BlackBerry Limited
• Cisco Systems, Inc.
• Citrix Systems, Inc.
• CyberGhost S.R.L.
• Google LLC
• IBM corporation
• NetMotion Software
• Opera Norway AS
• WatchGuard Technologies, Inc.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.