Virtual Private Network Market Scope
A virtual private network is defined as the combination of software and hardware which creates a safe and encrypted connection over a less secure network. It is mainly used to add security and privacy to both public and private networks namely Wi-Fi Hotspots, Internet and others. It mostly allows users to access data remotely with secure tunneling as well as encryption methods. Numerous benefits of using virtual private network such as hide your IP address, encrypt data transfers, access blocked websites, among others.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Largest Market | North America |
Unit | Value (USD Billion) |
Key Companies Profiled | Microsoft Corporation (United States), Private Internet Access (United States), CyberGhost S.A. (Romania), NordVPN (Panama), Purevpn (Hong Kong), IPVanish (United States), Golden Frog (United States), Buffered VPN (Hungary) and SaferVPN (Israel) |
CAGR | 15.3% |
"According to AMA, the Global Virtual Private Network market is expected to see growth rate of 15.3% and may see market size of USD23.06 Billion by 2028."The market is fragmented with numerous players focusing on technique and quality of the product due to which the global virtual private network market can witness an upsurge in the forecast period Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Virtual Private Network market throughout the predicted period.
Microsoft Corporation (United States), Private Internet Access (United States), CyberGhost S.A. (Romania), NordVPN (Panama), Purevpn (Hong Kong), IPVanish (United States), Golden Frog (United States), Buffered VPN (Hungary) and SaferVPN (Israel) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are NetGear, Inc. (United States), WatchGuard Technologies, Inc. (United States), TunnelBear Inc. (Canada), Smith Micro Software, Inc. (United States), Anthasoft (Mexico), Avast Software s.r.o (Czechia) and BlackBerry Limited (Canada).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Virtual Private Network market by Type , by Application (Government, Telecommunication, Manufacturing, Healthcare, BFSI and Utilities) and Region with country level break-up. On the basis of Type, Multiprotocol Label Switching are dominating the market in the year 2022
On the basis of application, BFSI segment is dominating the market in the year 2022
On the basis of geography, the market of Virtual Private Network has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2022.
In April 2019, the Cloudflare, Inc. (United States) Company has launched a new virtual private network with emphasis on speed. In addition, it helps to keep data private as well as connection secure. Hence, this will, in turn, propel the growth of the virtual private network market.
Influencing Trend:
Rising Demand for Secure Remote Access and Increased Adoption of Private Clouds
Market Growth Drivers:
Rise in Number of Cyber-Attacks Worldwide, Surge in Demand for Cloud-Based Security Solutions and Increasing Shift toward Virtual Appliances
Challenges:
Limited Technical Knowledge and Expertise in Virtualization
Restraints:
Lack of VPN Standardization and Data Protection Issues and Lack of Governance and Standardization
Opportunities:
Increasing Demand from Emerging Economics such as India, China and others and Increased Adoption of Private Clouds and Demand for Secure Remote Access
Key Target Audience
Virtual Private Network Companies, Virtual Private Network Providers, Technical Universities, System Integrators, Managed Security Service Providers, Professional Service Providers, Research and Development Companies, Market Research and Consulting Firms, Solution Providers, Technology Standards Organizations, Technology Investors and System Integrators