Virtual Private Network Market Business Opportunities, Challenges, Drivers and Restraint Research Report by 2027

WILMINGTON, DE, UNITED STATES, April 19, 2024 /EINPresswire.com/ -- Allied Market Research recently published a report, titled, "Virtual Private Network Market by Component (Solution and Services), Type (Remote Access VPN, Site-to-Site VPN, and Others), Deployment (Cloud and On-premise), and End User (Commercial Users and Individual Users): Global Opportunity Analysis and Industry Forecast, 2020–2027".

As per the report, 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.

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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. However, lack of expertise in virtualization hampers the market growth. On the contrary, surge in adoption of private clouds would open new opportunities for the market players in the future.

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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Asia-Pacific is anticipated to exhibit highest growth rate during the forecast period, owing to rapid increase in number of mobile & wireless devices, rise in number of malicious attacks, and extensive presence of large VPN vendors in this region. Further, rapidly growing adoption of work from home trend in this region also contributes to the accelerating demand for VPN solution in the Asia-Pacific region, which further boosts the virtual private network market growth.

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.

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Major market players

Avast Software S.R.O.
Cisco System Inc.
Checkpoint Software Inc.
IBM Corporation
Golden Frog GmbH
Microsoft Corporation
Juniper Networks Inc.
NordVPN
NetMotion Software Inc.
Radio IP Software Inc.

Table of Content
Chapter 1 : INTRODUCTION
Chapter 2 : EXECUTIVE SUMMARY
Chapter 3 : MARKET OVERVIEW
Chapter 4 : NEAR FIELD COMMUNICATION MARKET, BY PRODUCT TYPE
Chapter 5 : NEAR FIELD COMMUNICATION MARKET, BY OPERATING MODE
Chapter 6 : NEAR FIELD COMMUNICATION MARKET, BY END USER
Chapter 7 : NEAR FIELD COMMUNICATION MARKET, BY REGION
Chapter 8 : COMPETITIVE LANDSCAPE
Chapter 9 : COMPANY PROFILE
LIST OF TABLES
LIST OF FIGURES

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