Press release
Virtual Private Network (VPN) Market 2018 Analysis by Microsoft, Private Internet Access, CyberGhost, NordVPN, Purevpn, IPVanish (U.S), Golden Frog, Buffered VPN, SaferVPN, NetGear
The global virtual private network market has generated USD 15.27 billion market value in 2016 and is projected to grow with 18.22% CAGR during forecast period 2016-2022.
By User type, the VPN market has led by hosted followed by IP user type in 2016. Whereas, multiprotocol label switching is expected to drive the market mounting with fastest growing 20.5% CAGR.
By Verticals, government is leading the market and is projected to grow with 19.2% CAGR. Whereas BFSI and utilities is expected to drive the market growing with highest 21.7% and 20.2% CAGR, respectively.
By region, North America is dominating the market and has generated USD 7.37 billion in 2016. Whereas Asia-Pacific is expected to be the fastest growing market during forecast period.
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Market Highlights
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. The passage of anti-privacy bill by U.S government is expected to drive the market in coming years. The added features in the VPN such as unblocking services is expected to create lucrative opportunities for the market. The flexible data transmission options such as MPLS VPN which includes the usage of secure and high-performance IP network for data traffic eliminates the usage of public internet which is trending in the market
The North America region is experiencing higher demand from various sectors such as commercial, residential, institution & government, industrial and others. The prominent companies such as Microsoft Corporation (U.S), Private Internet Access (U.S), CyberGhost S.A. (Romani), NordVPN (Panama), Purevpn (Hong Kong), are providing virtual private network solutions to safety systems. The use of VPN along added cloud functionalities is expected to create opportunities for the market for instance, companies such as Orange Business Services are providing integrated public cloud service as a part of their VPN thereby supporting the pay as you grow model which is opportunistic for the market. In addition the flexibility of the VPN for many types of the service applications in the network is further opportunistic for the market.
The global virtual private network market is expected to reach USD 41.702 billion at a CAGR of over 18% by the end of the forecast period.
VPN Market Segmentation
The global virtual private network market is segmented into type, deployment, products, end user, and region. The type is segmented into Hosted, IP, Multiprotocol Label Switching, Cloud and others. The deployment are segmented into On-Premise, On-Cloud. The products are segmented Routers, Switches, Firewalls and others. The end users are segmented into Government, Telecommunication, Manufacturing, Healthcare, BFSI, Utilities and others. The market is spanned across regions including North America, Europe, Asia Pacific, and rest of the world.
The prominent players in the global virtual private network market: Microsoft Corporation (U.S), Private Internet Access (U.S), CyberGhost S.A. (Romani), NordVPN (Panama), Purevpn (Hong Kong), IPVanish (U.S), Golden Frog, GmbH (Switzerland), Buffered VPN (Hungary), SaferVPN (Israel), NetGear, Inc. (U.S) and among others.
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Market Research Analysis:
The global virtual private network market is studied on the basis of four regions: the Americas, Europe, Asia Pacific, and Rest of world. North America region is dominating the global virtual private network market. The virtual private network market is witnessing a high growth due to huge demand due to use of Hosted, IP, Multiprotocol Label Switching, Cloud and others. Europe is projected to hold the second largest share of virtual private network market during the forecast period. Asia Pacific is expected to witness the highest CAGR in the coming years.
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