Global Virtual Private Network Market Overview
The global Virtual Private Network Market 2020, according
to a report by Market Research Future (MRFR), is slated to register a
substantial market valuation at a moderate 18.22% CAGR during the review period
(2016-2022).
Competitive Analysis
The key market players in
the global virtual private network market are
CyberGhost S.A. (Romania),), Microsoft Corporation (U.S), Purevpn (Hong
Kong), NordVPN (Panama), IPVanish (U.S), Golden Frog, GmbH (Switzerland),
Private Internet Access (U.S Buffered VPN
(Hungary), SaferVPN (Israel), NetGear, Inc. (the U.S) and among others.
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Drivers and Restraints
VPN solutions make business
operations more effective. The significant factor that accounts for the growth
of the VPN market is the growing adoption of VPN solutions across various
vertical industries. It is expected that a substantial rise in the number of
cyber-attacks and a spike in demand for cloud-based security solutions would
fuel the virtual private network market over the forecast period. The VPN
industry is expected to see a dramatic rise due to the advent of disruptive
technological developments, such as BYOD. VPN applications help businesses
encrypt their data on the employee's computer. It also scans malicious devices
to protect sensitive data from any unauthorized access by the client.
Responsible for hampering VPN market growth is the higher price of the mobile
virtual private network.
Segmental Analysis
The global market for the
virtual private network is analysed based on the deployment, type, products, and region. The type is divided
into Multiprotocol Label Switching, Hosted, I.P., Cloud, and others. OBased on
the user type, the VPN market has been dominated by the hosted segment,
followed by the I.P. user type, and this trend is projected to continue over
the review period, whereas multiprotocol label switching is poised to drive the
market mounting with fastest-growing 20.5% CAGR.
The deployment segment
comprisies of On-Premise and On-Cloud deployment. The market, based on the
product, is segmented into Firewalls,
Routers, Switches, and others.
The end-users are segmented
into utilities, government, telecommunication, manufacturing, healthcare, BFSI,
and others. By Verticals, the government is leading the market and is estimated
to grow with 19.2% CAGR while the BFSI and utility segments are anticipated to
fuel the market onward with the highest 21.7% and 20.2% CAGRs, correspondingly.
Regional Analysis
Geographically, the global
virtual private network market is studied in four major regions, namely,
Europe, North America, the Asia Pacific, and the rest of the world.
North America region is
slated to account for the significant market share over the assessment period.
The U.S. is motivated by the rising cybercrime trend, the existence of strong
demand due to its services and I.T. Activities, where VPN demands more for
high-end services and privacy. Also contributing to this market's growth over
the evaluation period is the growing number of cyber-attacks on businesses
across various industry verticals. It allows companies to deploy VPN solutions
that will protect their business capital from unaffected access. Due to the
rising rate of cybercrime, which drives market growth in the near future, there
is a significant demand for VPN solutions. The European region's virtual
private network market is expected to see rapid growth over the forecast
period. Whereas the Asia Pacific region's developing countries, such as Japan,
China, and India, are developing markets for virtual private network solutions,
due to the growing I.T. sector, and diverse industry and business verticals
with significant demand for VPN solutions. Over the study era, the APAC area is
poised to witness the fastest CAGR.
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