Virtual Private Network Market Projected to Hit USD 76.59 Billion at a 15.42% CAGR by 2030 - Report by Market Research Future (MRFR)

VPN Market Growth Boost by Rising Technological Advancements and Higher Demands of Electronic Devices

New York, US, Oct. 13, 2022 (GLOBE NEWSWIRE) -- Conferring to the study reports by MRFR, “the Virtual Private Network Market, By End User, Type, Products, Deployment, and Region- Forecast till 2030”, the VPN market is predicted to flourish substantially during the assessment timeframe at a healthy CAGR of approximately 15.42% to accomplish an estimate of about USD 76.59 billion by the end of 2030.

Virtual Private Network Market Overview:

A virtual private network (VPN) offers an encrypted connection enabling users to connect to the internet over public connections. Various companies depend on these secure connections to make sure that only authorized users can access their networks remotely. Industry experts anticipate the growth in demand to lead to challenges that require be needed by both VPN providers and enterprises. The global VPN market has expanded massively in recent times. The important constraint advocating the expansion of the market is the ultimate use of smartphones and other wireless devices. Furthermore, higher demands for electronic devices and technological developments are also likely to affect the development of the market over the upcoming years.

Competitive Analysis

The directory of the renowned members across the global VPN market comprises companies such as:

  • Buffered VPN
  • GmbH
  • Private Internet Access
  • CyberGhost S.A.
  • NortonLifeLock Inc.
  • Nord VPN
  • Golden Frog
  • Microsoft Corporation
  • NetGear INC.

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Moreover, aspects such as developments in trends like BYOD and increasing demands for VPNs in industries based on network security are influencing the market’s performance. On the other hand, the unfulfillment of security demand & its needs may restrict the market's growth. Nonetheless, the majority of the industry sectors are implementing VPN solutions, making it one of the crucial aspects of growth.

Virtual Private Network Market USP Covered

VPN Market Drivers

The global VPN market has expanded enormously in the last few years. The growth of the market is credited to the aspects such as the use of smartphones and wireless devices, accessing secured networks, usage tactics of VPNs, and growing trends of WFH & remote works.

Market Restraints

On the contrary, the aspects such as low awareness of people for technology & VPNs, incompetence of authority and standardization, and lack of knowledge among consumers may restrict the market's growth.

VPN Report Scope:

Report MetricsDetails
  VPN Market Size by 2030USD 76.59 Billion
  CAGR during 2022-203015.42%
  Base Year2021
  Forecast 2022-2030
 Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, and Trends
Key Market OpportunitiesAlternatively, there was a huge usage of VPNs in several business enterprises, schools, colleges, and other organizations
  Key Market DriversThis point of the report depicts the factors responsible for the growth of the VPN market.

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COVID-19 Impact

The COVID-19 as a global health crisis has affected the mainstream industry areas massively across the globe. Unlike others, the global VPN market faced several positive changes during the pandemic. With the growing work-from-home culture and expanding IT sector across the globe, the global VPN market is likely to overgrow over the coming years.

Virtual Private Network Market Segment Analysis

Among all the components, the solution segment is predicted to dominate the global VPN market over the evaluation era. The changing commercial requirements and rapidly changing nature of work is boosting the segment’s performance. On the other contrary, the services segment is prone to exhibit the highest CAGR over the coming years.

Based on types, the remote access segment is anticipated to secure the leading position across the global VPN market over the assessment era. The growth of the segment is accredited to the increasing number of franchised dealers across the market. On the other hand, the extranet segment is predicted to exhibit the maximum growth rate over the coming years. the growth of the segment is credited to the aspects like increasing the use of extranet by enterprises to post private information on public networks.

Among all the deployment modes, the cloud segment is likely to secure the top position across the global VPN market over the coming years. the growth of the segment is credited to the aspects such as the rising preference for cloud-based deployment to lower maintenance and costs. On the other hand, the on-premise is anticipated to show the highest growth over the coming years.

Among all the end-use sectors, the commercial segment is anticipated to secure the leading position across the global VPN market over the review era owing to the growing worries related to founding a secure network.

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Virtual Private Network Market Regional Analysis

The global VPN market is analyzed across five major regions: the Middle East & Africa, Asia-Pacific, Europe, North America, and Latin America.

According to the research reports by MRFR, the North American region is predicted to dominate the global VPN market over the assessment timeframe. The central aspect supporting the growth of the regional market is the growing disposable income across the region. On the other hand, the significant difference between the demand and supply across the regional market can cause a decline. Nonetheless, the more chance of advantage when there is a growth in communication among the increasing VPN industries. Furthermore, the speedy growth in the demand from telecommunications and BFSI and several other industries and industry verticals across the US is also calculated to influence the expansion of the regional market over the evaluation period. The region has the US as the most important growth contributor.

The European VPN regional market is forecasted to expand significantly over the assessment era. The growing IT sector across the region is the central aspect supporting the regional market's growth.

The Asia-Pacific VPN market is projected to exhibit the highest development rate over the assessment timeframe. The critical component encouraging the regional market's growth is the rapid implementation of VPN solutions and services across emerging economies such as India, China, and other Asian countries. The region has China as a leading growth contributor with a growing number of organized players with mobile VPN services.

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Because there are several government policies and regulations related to popular websites, providing the virtual private network as a solution offered various opportunities for entrepreneurs in Indonesia, China, and other Asian countries. On the other hand, the smaller number of investments in VPN markets is likely to be the most challenging factor over the review timeframe.

Related Reports:

Cloud VPN Market Research Report: By Component, by Organization Size, Connectivity, Vertical – Forecast till 2027

Virtual Private Cloud Market, By Delivery Model, By Organization Size and By Vertical- Forecast 2030

Virtual Private Server (VPS) Market Research Report: by Service Type, by Component, Organization Size, by Industry Vertical, and Region—Forecast till 2027

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