The global virtual private network (VPN) market is
expected to register a stellar CAGR of 18.22% over the forecast period of
2016-2022, reveals Market Research Future in a minutely analyzed research
report. The market has been observing persistent growth on account of
multiplying deployment of VPN by enterprises across the globe to access
extremely secured connections and extend private networks across public
networks. The high occurrence of cyber attacks results in intensified security
concerns which induce demand for cloud-based security solutions and drives the
market for VPN.
The study reveals that North America region
dominates the virtual private network market. The emerging trend in the IT
industry such as Bring Your Own Device (BYOD) and the emergence of Internet of
Things (IoT) is expected to create room for Virtual Private Networks in years
to come. The increased focused towards privacy is further expected to drive the
VPN market.
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Rising awareness about the threat of cyber attacks,
credit card information phishing, identity theft and impersonation over the
internet drive the demand for VPN. High deployment price of VPN acts a major
constraint to the market. Complexities in the setup and configuration of VPN
which requires in-depth technical know-how; lack of trained workforce are other
significant restraining factors to the market growth. Moreover, various
governments across the world have endeavored to crack down on VPN usage in a
bid to tighten control over the internet.
For instance, in July 2018, China pressurized Apple
to remove VPN apps from the Chinese App Store. However, the emerging trend of
Bring Your Own Device (BYOD) and the Internet of Things (IoT) is foreseen to
influence the market growth positively.
Segmentation
The global virtual private network market has been
segmented based on type, deployment, product, and end user.
By type, the market has been segmented into Hosted,
IP, Multiprotocol Label Switching, Cloud, and others.
By deployment, the market has been segmented into
On-Premise, On-Cloud.
By products, the market has been segmented into
Routers, Switches, Firewalls, and others.
By end users, the market has been segmented into
Government, Telecommunication, Manufacturing, Healthcare, BFSI, Utilities and
others.
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Regional Analysis
The global virtual private network market spans
across the regions of North America, Europe, Asia Pacific, and the Rest of the
World.
North America held a relatively higher share of the
market and accounted for USD 7.37 Billion in 2016. In the US, cybercrime is a frequent
occurrence which leads to soaring demand for VPN in the region. Robust economy
of the North America region facilitates the regular inflow of funds and a
prosperous IT industry makes North America a prime target for hackers. High
adoption of VPN by enterprises supports the growth of the market in the region.
Asia Pacific is projected to expand at a relatively faster rate due to the
growth in fast-developing countries such as China and India where there is a
strong demand for VPN. Europe market is driven by the growing banking industry
which attracts cyber threats.
Competitive Landscape
The global virtual private network market is a
highly competitive one with the presence of a multitude of established players.
With the influx of new entrants to the market, a trend of stable, volume-driven
growth has been observed in the market. The key players operating in the global
virtual private network market include Microsoft Corporation (U.S), CyberGhost
S.A. (Romani), Purevpn (Hong Kong), Golden Frog, GmbH (Switzerland), SaferVPN
(Israel), Private Internet Access (U.S), NordVPN (Panama), IPVanish (U.S),
Buffered VPN (Hungary), and NetGear,
Inc. (U.S).
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