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Global VPN Market worth over $120 Bn by 2027

  • Published Date: May 24, 2021

VPN Market size is set to surpass USD 120 billion by 2027, according to a new research report by Global Market Insights Inc.
 

The need for secure access to business applications and other resources over internet connectivity is supporting the market growth. Growing concerns related to cyber & malicious attacks along with data breaches are spurring the demand for VPN solutions & services.
 

Growing demand for robust network security

The software component segment is projected to register 20% growth rate during the forecast period, attributed to industry-wide demand for VPN software and strategic development initiatives. For instance, in March 2021, OpenVPN Inc. added a new functional capability into its Cloud VPN offering, which includes sophisticated routing logic and component. This addition allows enterprises to manage VPN security and routing in public & private environments.
 

VPN Market Size By Region

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The need for distributed network connectivity will drive demand for MPLS virtual private network

The MPLS VPN segment is estimated to hold 35% market share by 2027. The enterprise-wide need to support connectivity between distributed corporate sites and data center facilities is fueling the segment growth. In addition, advanced functional capabilities along with the ability to ensure the quality of services for applications, such as video conferences, are fueling the market demand.
 

Browse key industry insights spread across 300 pages with 412 market data tables and 39  figures & charts from the report, “Virtual Private Network (VPN) Market Size, By Component (Hardware, Software, Services), By Type (IP, MPLS (Multiprotocol Label Switching), Cloud VPN, Mobile VPN), By Connectivity (Site-to-Site, Remote Access, Extranet), By Application (Consumer [Smartphones, Tablets, Laptops/PCs], Commercial [BFSI, Healthcare, IT, Government, Manufacturing], Service Providers)” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/virtual-private-network-vpn-market

 

Enterprise-wide demand for cost-effective and extended network reach is enhancing the significance of remote access

The remote access segment is expected to grow at more than 19% CAGR through 2027. A virtual private network allows enterprises to provide the remote workforce with secure remote access to corporate resources. The enterprise-wide work from home and BYOD trends are enabling the demand for VPN solutions. Several enterprises are also developing integrated solutions to facilitate enhanced remote connectivity.
 

Expansive internet users and strategic growth activities across Asia Pacific region

Asia Pacific VPN market revenue is anticipated to reach USD 35 billion by 2027, due to extensive internet penetration and use of smartphone devices. The companies operating in the market are also collaborating with regional enterprises to expand their business reach. For instance, in January 2020, ExpressVPN partnered with Dynabook to provide internet security solutions to its global customers. Under this partnership, ExpressVPN installed its VPN solution across Dynabook’s laptop offerings including Satellite Pro L50.
 

Focus on organic growth strategies by key players

Major industry participants are AirVPN, 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., Columbitech, Cryptzone, CyberGhost S.A., ExpressVPN, Golden Frog GmbH, Google LLC., IBM Corporation, Juniper Networks, Microsoft Corporation, Mudhook Marketing, Inc., NCP Engineering GmbH, NetMotion Software, NordVPN,  OPENVPN Inc., Opera Software, Safer Social Ltd., Smith Micro Software, Inc., TunnelBear Inc.,  WatchGuard Technologies, Inc., and Windscribe Limited.
 

Authors: Preeti Wadhwani, Smriti Loomba

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