A recent report published by Infinium Global Research on the
virtual private network market provides an in-depth analysis of segments and
sub-segments in the global as well as regional virtual private network market.
The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional virtual private network market over the
short term as well as long term. The report is a comprehensive presentation of
trends, forecast and dollar values of the global virtual private network
market. According to the report, the global virtual private network market is
projected to grow at a CAGR of 16.8% over the forecast period of 2020-2026.
The global virtual private network market was valued at USD
26.9 billion in 2020 and is projected to reach near USD 68.2 billion by 2026,
growing at a CAGR of 16.8% from 2020 to 2026. VPN or Virtual Private Network
provides a secure network when using a public network. The online traffic is
encrypted, and the IP address of the user is disguised by the VPN. This denies
any third party to monitor or view the online activities of the user. The
encryption of data makes it impossible for hackers and cybercriminals to
decipher the data. VPN is used by corporate houses, governments, BFSI, and
others which allows their employees to securely enter into the company’s server
or network. VPN is also used by individuals and regular households who put more
emphasis on the protection of their data. The VPN is gaining importance as the
world is becoming more connected. As the connected world is also making the
user’s data vulnerable to cyber-attacks.
The coronavirus pandemic caused nationwide lockdowns which
forced the people to stay indoors for a considerable period of time. Big
technology, manufacturing, and other corporates instructed their employees to
work from home. Therefore, VPN played an important role in providing a safe
network for employees to work from home. Specifically, IT and Technology
companies were highly benefited. People also preferred doing online shopping
and other digital activities like high usage of social media platforms to stay
connected. VPN provided these people with the safety to use the internet
freely. The threat of online activities been tracked by a third party and
threats of cyber-attacks are causing people to adopt VPN services and products.
This is resulting in the rise in demand which in turn is driving the market.
The availability of products and services of VPN at affordable rates is also
causing a rise in demand. The rising internet penetration among people is also
a crucial driver for the market as it is prompting people to adopt VPN services
and products for their safe usage of the internet. The only thing that is
restraining the market is the low awareness regarding VPN services and
products. The awareness regarding VPN services and products is low in
developing countries as compared to developed countries. The roll-out of 5G presents
itself as a huge opportunity for the market. As increased speed in data would
lead to more usage of internet resulting in the rise in adoption of VPN
services and products.
North America is expected to be the highest
revenue-generating region of the market. The main cause for the dominance of
this region is that it is home to some of the advanced countries and economies
with matured society. Therefore, awareness regarding VPN services and products
is quite good. Europe is projected the second-highest revenue-generating region
as people in this region give more importance to data security which is
resulting in the rising demand for VPN services and products. Asia-Pacific is
anticipated to be the third-largest revenue-generating region as there is a sharp
rise in internet penetration in this region.
The report on the global virtual private network market
covers segments such as connectivity, platform, solution, type, and end user.
On the basis of connectivity, the sub-markets include site-to-site VPN, remote,
and other. On the basis of platform, the sub-markets include wired, and mobile
and wireless. On the basis of solution, the sub-markets include software, and
service. On the basis of type, the sub-markets include internet protocol
security, layer 2 tunneling protocol, point-to-point tunneling protocol, SSL
and TLS, open VPN, and others. On the basis of end user, the sub-markets
include government, IT, healthcare, BFSI, manufacturing, and others.
The report provides profiles of the companies in the market
such as NortonLifeLock Inc., Cisco Systems, Inc., Alphabet Inc., Microsoft
Corporation, McAfee Corp., Kaspersky Lab, CyberGhost S.A., Huawei Technologies
Co., Ltd., Oracle Corporation, and SingTel (Singapore Telecommunications Ltd.).
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of the virtual
private network market. Moreover, the study highlights current market trends
and provides forecast from 2020-2026. We also have highlighted future trends in
the market that will affect the demand during the forecast period. Moreover,
the competitive analysis given in each regional market brings an insight into
the market share of the leading players.