The market for virtual private networks worldwide was valued at USD 25.71 billion in 2018 and is forecast to grow at a compound annual rate (CAGR) of 18.1% between 2019 and 2028.
The growth of virtual private networks (VPNs) is expected to increase due to growing concerns about data security when transferred over public internet connections. A virtual private network is an encrypted connection that allows users to connect to public internet connections. Many organizations use these secure connections to protect their networks from unauthorized users. The pandemic has altered this dynamic and led to significant demand for Virtual Private Network services from end-users. Experts in the industry expect this surge in demand to bring about challenges that must be met by both VPN providers and enterprises.
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Growing Demand:
The growing use of private networks across various industries drives the global market for VPN networks. The Internet is becoming a platform for business activity in many industry sectors. With this, there are increasing risks of data theft and cyber breaches. Enterprises are increasingly turning to highly secure technology to protect their business data and transactions. This presents significant growth opportunities for the Virtual Private Network Market. VPNs are essential to ensure a secure, encrypted connection. There is an increasing number of cases of data theft (both financial and personal). Many enterprises are urging their clients to use VPN technology because of the increasing number of cyberattacks. More industries increasingly use VPN services in today’s cyber-secure environment to ensure data security while being transmitted. Due to the continuing COVID-19 pandemic that has impacted business operations, more enterprises are turning to Internet-based services for business continuity. This is driving the expansion and adoption of VPNs. VPNs are being adopted because of the increasing use of enterprise mobility and the need to have ubiquitous access to company networks for remote workers. VPN adoption is gaining prominence in enterprises that want to provide secure and private access to their employees.
Driving Factors:
China currently dominates the Asia Pacific region, with an increasing number of players using mobile Virtual Private Network services. There are many government regulations and policies regarding popular websites. Offering the virtual private network to entrepreneurs in China, Indonesia, and other Asian countries has opened up numerous opportunities. VPN services allow for easy streaming and networking in Asian countries. The virtual private network allows users to protect their data from hackers and encrypt them. These key factors drive the demand for Virtual Private Network services and solutions in Asian countries.
Restraining Factors:
The market is expected to see a significant increase in demand during the forecast period. However, certain factors can lead to a decrease in the structured growth rate. The most important factor in causing declination is the low level of knowledge about VPNs and technology. Incompetence in standardization and authority and severe security and protection problems can lead to a virtual private network forecast showing a decline.
Market Key Trends:
Virtual private networks are mainly driven by the rising number of cyber-attacks and increasing demand for cloud security solutions. Market growth will be driven by demand from end-users. One drawback is market growth’s non-standardization of VPNs and other data security issues.
You can deploy the virtual private network (VPN) on-premises or in the cloud. Technology-wise, there are four main segments: tunneling and encryption, and multiprotocol label switching (MPLS), among others. According to connectivity, the market can also be divided into site-to-site and remote access. Demand for managed VPN services is increasing in large, medium, and small enterprises from all sectors, including government, telecom, IT and telecom (BFSI), healthcare, manufacturing, financial services, and insurance (BFSI).
Recent development:
Cloud Nine Web3 Technologies announced they had signed an agreement regarding asset purchases with Victory Square Technologies on March 15, 2021. This agreement will give intellectual property rights at the production stage for virtual private networks.
Later, the company bought the company name “Limitless Technologies” and other companies located in Victory squares, such as Decentrum Ed Tech and software.
Key Companies:
- Private Internet Access
- Nord VPN
- TorGuard
- Cyber Ghost
- Hotspot Shield
- IP Vanish VPN
- Buffered VPN
- Golden Frog
- VPN Pure
- Express VPN
- Safer VPN
Segmentation:
Type
- Remote Access VPN
- Site-to-Site VPN
- Others
Application
- Personal VPN Users
- Corporate VPN Users
Key questions:
- What are the global sales, production, and consumption of Virtual Private Network (VPN), as well as import and export?
- Who are the major global manufacturers of the Virtual Private Network (VPN) Market?
- What are the market trends that will impact the growth of the Virtual Private Network (VPN) market?
- What are the major drivers, constraints, opportunities, and challenges facing the Virtual Private Network Market, and how are they expected to impact the market’s future?
- What is the size of the Virtual Private Networks (VPN) market at the national and international levels?
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