Overview and Scope
The virtual private network (VPN) is an encrypted connection over the internet from a device to a network. The encrypted connection helps in the secure transmission of sensitive data, protects against unauthorized traffic monitoring, and allows the user to work remotely. The virtual private network gives users private internet access, web security, and global remote access for multinational corporations, large corporations, and electronic devices.
Sizing and Forecast
The virtual private network (vpn) market size has grown rapidly in recent years. It will grow from $53.23 billion in 2023 to $62.73 billion in 2024 at a compound annual growth rate (CAGR) of 17.8%. The growth in the historic period can be attributed to data privacy regulations, increased internet surveillance, online freedom and censorship avoidance, hybrid work models, stringent data protection laws.
The virtual private network (vpn) market size is expected to see rapid growth in the next few years. It will grow to $125.94 billion in 2028 at a compound annual growth rate (CAGR) of 19.0%. The growth in the forecast period can be attributed to shift to zero trust security models, focus on endpoint security, privacy advocacy and awareness, industry-specific security regulations, hybrid work models.. Major trends in the forecast period include enhanced user authentication methods, increased collaboration with cybersecurity platforms, integration with next-gen firewalls, cross-industry collaboration for threat intelligence, focus on network performance, integration with secure web gateway, dynamic access policies.
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Segmentation & Regional Insights
The virtual private network (vpn) market covered in this report is segmented –
1) By Type: IP VPN, Mobile VPN, Cloud VPN, Multiprotocol Label Switching (MPLS)
2) By Component: Solution, Services
3) By Connectivity: Site-To-Site, Remote Access, Extranet
4) By Deployment: Cloud, On-Premise
5) By End-User: BFSI, Manufacturing, Healthcare, Telecom And IT, Government, Other End Users
North America was the largest region in the virtual private network market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the virtual private network (vpn) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increase in cyberattacks is expected to drive the growth of the virtual private network market in the coming years. Cyberattacks have been ranked as the fifth most important threat in 2020 and are expected to become the new norm in both the public and commercial sectors. Additionally, cyberattacks are anticipated to develop even more in 2021, with IoT cyberattacks alone projected to double by 2025. VPN technologies are being adopted by major corporations as they securely transfer data and reduce the risk of cyberattacks. For instance, according to the World Economic Forum’s 2020 Global Risk Report, cybercrime has increased 600% as a result of the COVID-19 outbreak, encompassing everything from theft and embezzlement to data hacking and destruction. Therefore, the rising cyberattacks propels the virtual private network market growth.
Key Industry Players
Major companies operating in the virtual private network (vpn) market report are Check Point Software Technologies Ltd., Cisco Systems Inc., Golden Frog GmbH, Juniper Networks Inc., Microsoft Corporation, Safer Social Ltd., Avast Software s. r. o., Citrix Systems Inc., Sectra AB, Google LLC, International Business Machines Corporation, NetMotion Software Inc., WatchGuard Technologies Inc., Array Networks Inc., NCP Engineering GmbH, BlackBerry Limited, Smith Micro Software Inc., GZ Systems Ltd., ExpressVPN International Ltd., NordVPN S. A., Surfshark Ltd., London Trust Media Inc., CyberGhost S. A., Mudhook Media Inc., J2 Global Inc., VPNetworks LLC, ProtonVPN AG, eVenture Limited, Windscribe Limited, Mullvad AB, Edalia Srl, Perfect Privacy LLC
The virtual private network (vpn) market report table of contents includes:
- Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
………
- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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