Virtual Private Network Market Top Vendors and Growth Opportunities | Reach $75.59 Bn by 2027

According to a recent report published by Allied Market Research, titled, "Virtual Private Network Market by Component, Type, Deployment, and End User: Opportunity Analysis and Industry Forecast, 2020-2027,"

The global Virtual Private Network (VPN) market was valued at $25.41 billion in 2019, and is projected to reach $75.59 billion by 2027, growing at a CAGR of 14.7% from 2020 to 2027.

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VPN is an encrypted connection over the internet from a device to a network. It ensures that sensitive data is securely transmitted. It averts unauthorized individuals from spying on the traffic and enables the user to conduct work safely & remotely. VPN technology is widely used in corporate environments.

Increase in advanced and complex cyber threats, rise in data security concerns, and surge in usage of mobile & wireless devices within organizations are the major factors that drive the growth of the virtual private network market. In addition, rise in need for remote accessibility also boosts the growth of the virtual private network industry. However, lack of expertise in virtualization is anticipated to hamper the VPN market growth. On the contrary, augmented adoption of private clouds is expected to provide lucrative opportunities for the market growth in the coming years.

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Competitive Analysis:
The competitive environment of Virtual Private Network Industry is further examined in the report. It includes details about the key players in the market's strengths, product portfolio, Virtual Private Network Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.

Key Players:
Avast Software S.R.O.
Checkpoint Software Inc
Cisco System Inc
Golden Frog GmbH
IBM Corporation
Juniper Networks Inc
Microsoft Corporation
NetMotion Software Inc
NordVPN
Radio IP Software Inc and Many More

By Region, the global virtual private network market was dominated by North America in 2019. The major presence of leading market vendors developing virtual private network solution and early adoption of advanced networking security technology in North America are the major drivers for the virtual private network market growth. In addition, the need to protect business critical information from data breaches and malicious attacks while working remotely further propels the market growth in this region.

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The outbreak of COVID-19 is anticipated to have a significant impact on the growth of the virtual private network market. Although, various industries are majorly hit by lockdown imposed in many countries, the spending on virtual private network solutions by corporate as well as individual users is expected to increase during this pandemic. This is attributed to the need to provide secure working environment and ensure privacy of business critical information especially during the work from home period.

For instance, as per Masergy, it observed sudden spike in VPN connections from March 10th to 18th 2020, increasing by 676% in more than a week. Furthermore, rise in number of fraudulent activities and cybercrimes post COVID-19 emergence is also expected to boost the VPN market growth.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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