PUBLISHER: The Business Research Company | PRODUCT CODE: 1392967
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392967
“Virtual Private Network (VPN) Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on virtual private network (vpn) market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for virtual private network (vpn)? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The virtual private network (vpn) market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
A virtual private network (VPN) establishes an encrypted connection over the internet, linking a device to a network. This encrypted connection ensures the secure transmission of sensitive data, guards against unauthorized traffic monitoring, and enables users to work remotely. Providing private internet access, web security, and global remote access, virtual private networks are particularly valuable for multinational corporations, large enterprises, and various electronic devices.
Virtual private networks come in several types, including IP VPN, cloud VPN, mobile VPN, and multiprotocol label switching (MPLS). IP VPN, or internet protocol virtual private network, employs private connections to individual remote sites, avoiding reliance on the public internet. Components of virtual private networks encompass solutions and services, while connectivity types include site-to-site, remote access, and extranet, with deployment options such as cloud and on-premise. Virtual private networks find application in various sectors, including BFSI, manufacturing, healthcare, telecom and IT, government, among others.
The virtual private network (VPN) market research report is one of a series of new reports from The Business Research Company that provides virtual private network (VPN) market statistics, including virtual private network (VPN) industry global market size, regional shares, competitors with a virtual private network (VPN) market share, detailed virtual private network (VPN) market segments, market trends and opportunities, and any further data you may need to thrive in the virtual private network (VPN) industry. This virtual private network (VPN) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The virtual private network (vpn) market size has grown rapidly in recent years. It will grow from $53. 23 billion in 2023 to $62. 73 billion in 2024 at a compound annual growth rate (CAGR) of 17. 8%. The expansion observed in the historical period can be attributed to factors such as the implementation of data privacy regulations, heightened scrutiny of internet activities, the pursuit of online freedom and evasion of censorship, the adoption of hybrid work models, and the enforcement of rigorous data protection laws.
The virtual private network (vpn) market size is expected to see rapid growth in the next few years. It will grow to $125. 94 billion in 2028 at a compound annual growth rate (CAGR) of 19. 0%. The anticipated expansion in the forecast period can be linked to several factors, including a transition towards zero-trust security models, an increased emphasis on endpoint security, growing advocacy and awareness regarding privacy, the introduction of industry-specific security regulations, and the continued prevalence of hybrid work models. Noteworthy trends in the forecast period encompass the implementation of advanced user authentication methods, heightened collaboration with cybersecurity platforms, integration with next-gen firewalls, cross-industry partnerships for threat intelligence, a concentrated focus on network performance, integration with secure web gateways, and the establishment of dynamic access policies.
The anticipated increase in cyberattacks is poised to be a driving force behind the growth of the virtual private network (VPN) market in the foreseeable future. Cyberattacks, ranked as the fifth most significant threat in 2020, are projected to become a prevalent challenge across both public and commercial sectors. Forecasts indicate a surge in cyberattacks in 2021, with a particular emphasis on IoT cyberattacks doubling by 2025. Major corporations are adopting VPN technologies to securely transfer data, mitigating the risk of cyber threats. As indicated by the World Economic Forum's 2020 Global Risk Report, cybercrime has surged by 600% in the wake of the COVID-19 outbreak, encompassing activities ranging from theft and embezzlement to data hacking and destruction. Thus, the escalating frequency of cyberattacks is a key driver propelling the growth of the virtual private network market.
The upward trajectory of e-commerce is expected to be a catalyst for the continued growth of the virtual private network (VPN) market. E-commerce, denoting the buying and selling of goods and services along with financial transactions through electronic networks, predominantly the Internet, stands to benefit from VPN adoption. VPNs contribute to the security and privacy of e-commerce transactions by encrypting data and concealing users' IP addresses, thereby lowering the susceptibility to cyber threats and ensuring customer confidentiality. For example, as of September 2022, consumer e-commerce constitutes 30% of the UK's overall retail sector, marking a substantial increase from 20% in 2020, with an annual revenue surpassing $120 billion. The rise in e-commerce activities, with 82% of UK residents making at least one online purchase in 2021, is a driving force behind the growth of the virtual private network (VPN) market.
Technological advancements are gaining momentum in the virtual private network (VPN) market, with providers making increased investments to deliver fast, uninterrupted internet connectivity, and remote accessibility. In March 2023, Brave Software Inc., a Canada-based provider of internet privacy tools, introduced its Firewall + VPN service, expanding its VPN services to desktops in addition to Android and iOS. This cross-platform security enhancement allows users to connect and secure up to five devices, spanning Android, iOS, macOS, and Windows, under a single subscription. The move demonstrates the industry's commitment to advancing VPN technologies for comprehensive user protection.
Major companies operating in the virtual private network (VPN) market are strategically focusing on developing Wi-Fi 6 routers with integrated VPN capabilities to gain a competitive advantage. Wi-Fi 6 routers, equipped with built-in VPN functionality, offer enhanced wireless speeds and heightened security for internet-connected devices. For instance, in September 2022, Express Technologies Ltd., a Canada-based provider of VPN services, launched Aircove, the inaugural Wi-Fi 6 router with built-in VPN protection. Aircove extends comprehensive VPN safeguarding for entire homes, designed by the security professionals behind ExpressVPN's acclaimed VPN software. Covering an area of up to 1,600 square feet, it ensures swift and reliable dual-band Wi-Fi connectivity for numerous devices, leveraging Wi-Fi 6 technology to enhance wireless performance.
In September 2021, Kape Technologies, a UK-based cybersecurity company, completed the acquisition of Express VPN service from Express VPN International Ltd for $936 million. This strategic move positions Kape Technologies for expansion into commercial digital privacy, effectively doubling its customer base from 3 million to 6 million. Express VPN International Ltd., headquartered in the British Virgin Islands, is a prominent VPN service provider.
Major companies operating in the in the virtual private network (vpn) market report are Check Point Software Technologies Ltd., Cisco Systems Inc., Golden Frog GmbH, Juniper Networks Inc., Microsoft Corporation, Safer Social Ltd., Avast Software s. r. o., Citrix Systems Inc., Sectra AB, Google LLC, International Business Machines Corporation, NetMotion Software Inc., WatchGuard Technologies Inc., Array Networks Inc., NCP Engineering GmbH, BlackBerry Limited, Smith Micro Software Inc., GZ Systems Ltd., ExpressVPN International Ltd., NordVPN S. A., Surfshark Ltd., London Trust Media Inc., CyberGhost S. A., Mudhook Media Inc., J2 Global Inc., VPNetworks LLC, ProtonVPN AG, eVenture Limited, Windscribe Limited, Mullvad AB, Edalia Srl, Perfect Privacy LLC
North America was the largest region in the virtual private network market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the virtual private network (vpn) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the virtual private network (vpn) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The virtual private network (VPN) market includes revenues earned by entities by providing software and solutions which allow organizations to securely extend their private intranet over the existing framework of the public network using authentication methods and encryption algorithms to securely transfer data between the two endpoints of its connection. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.