Pune, Aug. 21, 2018 (GLOBE NEWSWIRE) -- Market Research Future (MRFR)’s new study reveals that the global VPN market has generated USD 15.27 billion market value in 2016. North America will continue to be the most profitable market for VPN over 2022.
A large number of internet users across the globe rely on virtual private network (VPN) applications and software for accessing websites without the threat of espionage or unsolicited monitoring of their online movements. As per the latest report published by Market Research Future (MRFR), the global virtual private network market will exhibit an impressive compound annual growth rate of 18.22% between 2016 and 2022. VPN tools allow users to access internet remotely through encryption methods. VPN users are almost untraceable by internet spies. With the help of VPN, information such as product catalog, customer information, company projections that are available on the internet can be access without alerting spying bots. VPN tools remain highly sought-after owing to increased internet censorship and restrictions. Difference in sociopolitical sentiments between countries continues to be one of the major reasons behind the increased strictness towards the virtual world, where freedom of expression holds a broader meaning.
Benefits of VPN are also being reaped by enterprises, as they strive to secure data transfer pathways through private networks, thereby minimizing the risk of cyber-attacks and data breaches. Moreover, VPNs enables businesses to achieve a greater degree of operational efficiency.
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Market Segmentation: Insights
MRFR’s report offers a comprehensive segmental analysis of the global market for virtual private network (PVN) market on the basis of end user, type, products, and region. Based on end user, the market has been segmented into telecommunication, government, healthcare, manufacturing, utilities, BFSI and others. The government segment currently accounts for the dominant share of the virtual private network market. VPN is also being increasingly used by the BFSI sector. During the assessment period, the BFSI segment is expected to register a strong CAGR of 21.7%. Based on type, the market has been segmented into multiprotocol label switching, hosted, IP, cloud and others. Among these, the hosted segment currently accounts for the largest market share and is projected to remain highly attractive. Meanwhile, the multiprotocol label switching segment is projected to exhibit the highest CAGR during the forecast period. Based on products, the market has been segmented into on-cloud and on-premise. Based on the products, the virtual private network market has been segmented into firewalls, switches, routers and others.
North America to Retain its Status as the Largest VPN Market over 2022
On the basis of region, the virtual private network market has been segmented into Europe, Asia Pacific (APAC), North America and the rest of the world (RoW). The virtual private network market in North America is expected to remain high lucrative throughout the assessment period. In 2016, the North America VPN Market was valued at over USD 7 Bn. High rate of installation of VPN applications and software in North America continues to lure market players towards the region. Increased risk of cyber malignancy and phishing incidences is prompting Americans to opt for solutions that ensure safer internet browsing. Such factors are likely to support the growth of the market in North America in the foreseeable future. Europe is also expected to remain an important for VPN market during the review period. Demand for VPN in countries such as Germany, the UK, France, and Netherlands has grown substantially in recent years. Asia Pacific is viewed as an emerging industry for VPN market as countries such as China and India record a swift rise in the number of internet users. The virtual private network market in APAC is projected to witness the fastest growth over the next couple of years.
Competition Tracking
MRFR in report has profiled some of top companies operating in the global virtual private network market, which include Private Internet Access (U.S), NordVPN (Panama), IPVanish (U.S), GmbH (Switzerland), SaferVPN (Israel), Microsoft Corporation (U.S), Purevpn (Hong Kong), CyberGhost S.A. (Romani), NetGear, Inc. (U.S), Golden Frog, and Buffered VPN (Hungary).
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Latest News
- Leading provider of advanced, building open, and scalable network provider Cumulus Networks recently announced that the company would extend its open networking services by launching Cumulus Linux support for platforms that are powered by the latest Broadcom Trident 3 (TD3) ASIC.
- Prominent software company NCP engineering has recently introduced two new secure virtual private network (VPN) connection supports NCP Secure Entry macOS Client version 3.1 and NCP Secure Enterprise macOS Client version 3.1. The mac version comes with advanced features such as authentication via fingerprint and additional extended access protection for MacBook Pro.
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