Fri. Sep 29th, 2023

IMARC Group, a leading market research company, has recently releases report titled “Virtual Private Network Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global virtual private network market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How Big is the Virtual Private Network Market?

The global virtual private network market size reached US$ 36.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 89.3 Billion by 2028, exhibiting a growth rate (CAGR) of 15.1% during 2023-2028.

What is Virtual Private Network?

A virtual private network (VPN) refers to a technology that allows users to create a secure and private connection to the internet. It offers enhanced security by encrypting the data transmitted over the internet, which hides the internet protocol (IP) address and prevents access to the data from a third party. It also allows anonymous browsing and forbids hackers from tracking online activities. Moreover, it helps bypass geo-restrictions and facilitates access to content from different libraries of multiple regions. VPN also aid employees in securely accessing their company network from a remote location and providing cost-effective security measures as compared to other security networks. At present, it finds extensive applications in banking, financial services and insurance (BFSI), healthcare, information technology (IT), government, and manufacturing industries across the globe.

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What are the growth prospects and trends in the virtual private network industry?

Presently, the increasing occurrence of cyber-attacks and data breaches is catalyzing the demand for secure online access. This, coupled with rising concerns about online privacy due to the increasing amount of personal data online, represents one of the key factors positively influencing the market across the globe. Moreover, due to remote working, employees are accessing corporate networks from their homes. VPN offers a secure way to connect employees to corporate networks, which is bolstering the market growth.

Apart from this, many countries are increasingly implementing geo-restrictions, which prevents users from accessing specific content online. This, in confluence with the widescale adoption of media streaming services and increasing demand for online and remote education, is strengthening the market growth. Additionally, the growing awareness of cybersecurity threats is catalyzing the demand for VPNs among business organizations to protect their online activities from hackers, malware, and other cyber threats.

It can also be attributed to the increasing number of operations moving to the cloud, which is propelling the need for secure connections to access cloud services. Besides this, the burgeoning e-commerce sector is increasing the need for sharing personal and financial information online, which is offering lucrative growth opportunities to key market players to provide a secure way to shop online and protect sensitive information through VPN.

In addition to this, the increasing adoption of internet of things (IoT) devices and bring your own device (BYOD) policies in the workplace are catalyzing the demand for secure and private connections to access networks. Furthermore, a significant rise in online gaming services is stimulating the growth of the market around the world.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Component:

  • Hardware
  • Software and Services

Breakup by Type:

  • Remote Access VPN
  • Site-to-Site VPN
  • Others

Breakup by Deployment Mode:

  • On-premises
  • Cloud-based

Breakup by End Use Industry:

  • BFSI
  • Healthcare
  • IT
  • Government
  • Manufacturing
  • Others

Market Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

  • Array Networks Inc.
  • Avast Software s.r.o.
  • BlackBerry Limited
  • Check Point Software Technologies Ltd.
  • Cisco Systems Inc.
  • Citrix Systems Inc.
  • CyberGhost S.R.L.
  • Google LLC
  • International Business Machines Corporation
  • Juniper Networks Inc.
  • Microsoft Corporation and NetMotion Software (Absolute Software Corporation).

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC Group’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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