Virtual Private Network

Surge in adoption of private clouds would open new opportunities for the market players in the future.

PORTLAND, PORTLAND, OR , UNITED STATES , August 23, 2022 /EINPresswire.com/ -- The global virtual private network industry accounted for $25.41 billion in 2019, and is projected to reach $75.59 billion by 2027, growing at a CAGR of 14.7% from 2020 to 2027.

Major industry players such as - Avast Software S.R.O., Checkpoint Software Inc, Cisco System Inc, Golden Frog GmbH, IBM Corporation, Juniper Networks Inc, Microsoft Corporation, NetMotion Software Inc, NordVPN, and Radio IP Software Inc.

By region, the market across North America held the largest share in 2019, accounting for more than one-third of the market, owing to adoption of advanced networking technologies, high spending on data security, rise in number of ransomware attacks in this province. However, the global virtual private network market across Asia-Pacific is anticipated to manifest the highest CAGR of 17.4% from 2020 to 2027, due to increase in popularity of fast internet connectivity, ever-growing smartphone penetration, and increasing popularity of entertainment sites in the region.

Surge in data security concerns, increase in advanced & complex cyber threats, and increase in use of mobile & wireless devices within the organization drive the growth of the global virtual private network market. In addition, rise in need for remote accessibility supplemented the market growth.

Segmental analysis of the market is provided in both qualitative and quantitative aspects. This aids the clients in identifying the most lucrative segment to go on with investments, on the basis of a complete backend analysis concerning the segmental presentation, coupled with brief salutation of the operating organizations and their important developmental activities.

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By end user, the individual users segment is projected to register the highest CAGR of 15.8% during the forecast period, owing to demand for accessing entertainment websites such as Netflix without any hindrance, surpass geo-blockages on certain websites, and accessing banned content across various countries. On the other hand, the commercial users segment held the largest share in 2019, contributing to nearly three-fourths of the global virtual private network market, as VPN is widely used by several industries to offer secure ways while working remotely, overcome any regional blockages, and protect business-critical information from malicious attacks.

By component, the solution segment held the largest share in 2019, accounting for around two-thirds of the global virtual private network market, owing to rapidly growing adoption of work from home trend among enterprises, need to establish secure connection for businesses, and increasing number of data breach frauds. However, the service segment is anticipated to manifest the highest CAGR of 17.8% during the forecast period, due to its adoption to ensure effective functioning of software and platforms throughout the virtual networking & choosing appropriate VPN solutions.

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Covid-19 scenario:

• The number of cyber-attacks and data breaches were increased during the Covid-19 pandemic, as several companies adopted the work-from-home culture. This increased spending on networking infrastructure.
• After the Covid-19 outbreak, several organizations have preferred private networks over public network usage.

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Latest news and industry developments in terms of market expansions, acquisitions, growth strategies, joint ventures and collaborations, product launches, market expansions etc. are included in the report.

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