Global Virtual Private Network (VPN) Market Surges as Businesses Embrace Enhanced Data Protection and Privacy Solutions
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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