Virtual Private Network Market Size Worth $92.60 Billion By 2027: Grand View Research, Inc.

SAN FRANCISCO, Nov. 5, 2020 /PRNewswire/ -- The global virtual private network market size is expected to reach USD 92.60 billion by 2027, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 17.4% from 2020 to 2027. The rising level of cybersecurity threats is expected to drive the growth of the market over the forecast period. While high-speed data networks are being rolled out and connected devices are proliferating continuously, data security and privacy protection are emerging as major issues, as people visiting public places are often logging into unsecured Wi-Fi networks. Individuals are particularly targeted by hackers when they enter into vulnerable hotspots and log on to unsecured networks. This is driving the adoption of Virtual Private Networks (VPNs) and leverage the encryption provided by the VPN technology to protect people from malicious activities.

Key suggestions from the report:

• The market is anticipated to witness significant growth over the forecast period, owing to rising security concerns across numerous end-use industries
• The continued research and innovation by technology companies are driving the adoption of advanced technologies in various industry verticals, such as BFSI, healthcare, retail, telecommunications, among others
• North America is expected to emerge as one of the leading regional markets owing to the aggressive spending on R&D and the high adoption of VPN solutions in the telecommunications industry. Asia Pacific is expected to witness substantial growth over the forecast period
• The growing demand for VPN solutions for commercial purposes is expected to drive the growth of the commercial segment over the forecast period
• The key market participants include Cisco Systems, Inc.; IBM Corporation; Opera Norway AS; Google LLC; Avast Software s.r.o.; Citrix Systems, Inc.; and NetMotion Software. These players are trying to dominate the market through service differentiation and quality enhancement leading to intense competition

Read 100 page research report with ToC on "Virtual Private Network Market Size, Share & Trends Analysis Report By Component, By Type (Site-To-Site, Remote Access, Extranet), By Deployment Mode, By End Use, By Region, And Segment Forecast, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/virtual-private-network-market

The rising adoption of VPN solutions across several industry verticals and the growing security concerns are some of the significant factors that are driving the growth of the market. For an organization, a virtual private network can potentially encrypt any data to secure the organizational resources when the data is being transferred over a public internet connection. Thus, a VPN subsequently helps in saving expenses by eliminating the need for leased lines. A VPN also helps in improving operational efficiency. For instance, Brown Bear Corporation, which deals with utility, environmental, and manufacturing applications, uses a VPN solution to allow the company's staff to connect to the Brown Bear store or the office to reduce the drive time and increase the management efficiency.

VPNs help in bypassing internet censorship. Since VPN services encrypt complete data, the government is unable to censor a VPN connection, thereby allowing both commercial users and individual users to access sites that would otherwise be impassable. Hence, companies and citizens often turn to VPN solutions to overcome enforced censorship and access the sites that are blocked in any particular country. As a result, although countries, such as China, and Russia, among others, have imposed strict restrictions on VPNs; these restrictions have increased awareness about VPNs rather than restraining the growth of the market.

Grand View Research has segmented the global virtual private network market on the basis of component, type, deployment mode, end-use, and region:

• VPN Component Outlook (Revenue, USD Billion, 2016 - 2027)
• Solution
• Services
• VPN Type Outlook (Revenue, USD Billion, 2016 - 2027)
• Site-to-site
• Remote Access
• Extranet
• Others
• VPN Deployment Mode Outlook (Revenue, USD Billion, 2016 - 2027)
• Cloud
• On-premise
• VPN End-use Outlook (Revenue, USD Billion, 2016 - 2027)
• Commercial
• Individual
• VPN Regional Outlook (Revenue, USD Billion, 2016 - 2027)
• North America
• The U.S.
• Canada
• Mexico
• Europe
• The U.K.
• Germany
• France
• Asia Pacific
• India
• Japan
• China
• South America
• Brazil
• Middle East & Africa

List of Key Players of Virtual Private Network Market

• Avast Software s.r.o.
• BlackBerry Limited
• Cisco Systems, Inc.
• Citrix Systems, Inc.
• CyberGhost S.R.L.
• Google LLC
• IBM corporation
• NetMotion Software
• Opera Norway AS
• WatchGuard Technologies, Inc.

Find more research reports on  Next Generation Technologies Industry, by Grand View Research:

• Virtual Sensors Market – The global virtual sensors market size was estimated at USD 284.0 million in 2018. Increase in adoption of IoT cloud platforms and significant demand across the manufacturing sector is anticipated to support the growth of global market over the forecast period.
• Virtual Prototype Market – The global virtual prototype market size was valued at USD 210.4 million in 2017. It is anticipated to expand at a CAGR of 19.4% from 2018 to 2025.
• Network Management Systems Market – The global network management systems market size was valued at USD 6.3 billion in 2018. It is estimated to expand at a CAGR of 10.2% during the forecast period.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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