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Virtual Private Network (VPN) Market Key Companies – AnchorFree GmbH, Anthasoft SA DE CV, Array Networks, Inc., Avast Software s.r.o., BlackBerry Limited, Buffered Ltd., Check Point Software Technologies Ltd., Cisco Systems, Inc., Citrix Systems, Inc, C

05-04-2021 06:45 AM CET | IT, New Media & Software

Press release from: Global Market Insights, Inc.

Virtual Private Network (VPN) Market

Virtual Private Network (VPN) Market

How would the growing work from home trend shape the global VPN market outlook over 2020-2026?

Increasing adoption of the work from home trend, made more apparent amidst the ongoing coronavirus pandemic, is anticipated to push the global virtual private network market share through 2026. Additionally, growing demand for better accessibility and higher security for sensitive data among a plethora of companies is further playing a vital role in augmenting the market expansion on a global level.

VPN software and services are also witnessing increasing adoption due to their potential to secure business network connectivity while also reducing the network infrastructure costs. Another advantage of using VPN solutions is that they offer data transmission among computing devices over a shared or private network connection.

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Moreover, VPN also gives remote access to the enterprise network through IP running over public networks, removing the need for an extra enterprise network infrastructure.

Considering its integrality, Global Market Insights Inc., estimates the global virtual private network market would exceed a valuation of $70 billion by 2026.

Which region is expected to lead the global VPN market share?

From a regional reference frame, North America virtual private network market is projected to hold more than 30% of the overall VPN market share by the end of the forecast timespan. The industry growth in the region would primarily by led by Canada and the U.S.

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Employees across several organizations in Canada and the U.S. are adopting VPN to get remote access to computers and to work from home. The coronavirus pandemic has negatively impacted the large scale enterprise ecosystems in the region. Enterprises and governments are increasingly encouraging people to work from home in order to lessen business risks.

In order to tackle the economic fallout caused by this situation, and enable employees to work from home, companies are increasingly implementing VPN. Taking March 2020 for instance, OpenVPN announced that more than 76% companies in North America have implemented VPN solutions on the network infrastructure for ensuring optimum business processes.

How would the VPN service segment fare in the growth of the global VPN market landscape?
The VPN service segment is anticipated to grow at a CAGR of more than 13% through the analysis time period. The VPN services demand throughout a plethora of well-established companies is witnessing a massive upsurge in recent times.

This rise in deployment is ascribed to the management of flexible portability, multiservice traffic, and connectivity among corporate sites. VPN service also provides the best in class security to end-to-end connectivity over the network infrastructure and informs the administration about any detected vulnerabilities. This ability helps companies to manage their resources effectively.

Why is MPLS based VPN service observing rising demand in the global VPN market landscape?

With respect to the type segment, the MPLS-based VPN service is projected to expand significantly over the analysis timeframe with a healthy CAGR of more than 10%. MPLS-based VPN solutions have the ability to link the data storage facilities and corporate sites, which is driving their adoption across major corporates.

The companies majorly use this VPN service for conducting priority-based data transfer over several locations. This helps the companies to effectively utilize the resources and latency as per the business requirements.

The competitive landscape of the global VPN market is inclusive of players like Google LLC, Cisco Systems Inc., Smith Micro Software Inc., Microsoft Corporation, and IBM Corporation among others.

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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