![]() Moreover, increase in demand from sectors, such as BFSI and telecom, among other industry verticals in North America acts as the key driving factors of the North America virtual private network market. In addition, large presence of key market vendors in North America also propels the market growth in this region. In 2019, North America accounted for the highest virtual private network market share, due to high spending on network security in this region. This is attributed to growing focus on establishing secure networking environment for businesses, increasing number of data breaches, and escalating cyber threats. This is attributed to the advantages of virtual private network solution such as hiding online identity, bypassing geo-blocks, preventing bandwidth throttling, avoiding online price discrimination, accessing region-blocked services, providing network scalability and offering cheaper leased-line alternatives.Īccording to end user, the commercial users segment accounted for the highest virtual private network market share in the global market in 2019. On the basis of component, the solution segment dominated the overall virtual private network market size in 2019. On the contrary, increased adoption of private clouds is expected to provide lucrative opportunities for the virtual private network market growth in the coming years. However, lack of expertise in virtualization is expected to hinder the VPN market growth. In addition, increase in need for remote accessibility propels the growth of this market. Increase in data security concerns, rise in advanced & complex cyber threats, and upsurge in usage of mobile & wireless devices within organizations are the major factors that fuel the growth of the virtual private network market. Post COVID-19 emergence, virtual private network solution segment led the global VPN market owing to increasing demand for providing secure working environment while working from home, as employees are relying on internet from remote workplaces and increase in number of data breaches, and accessing restricted digital media content, news and media outlet across different regions. However, from last few years, IP and Multiprotocol Label Switching (MPLS)-based VPNs have become more common. VPNs provisioned using technologies, such as Frame Relay and Asynchronous Transfer Mode (ATM) virtual circuits (VC), have been available for a long time. VPN solutions & services establish secure and encrypted connections to provide greater privacy. VPNs mask users’ internet protocol (IP) address so their online actions are virtually untraceable. ![]() A VPN can be defined as a way to offer secure communication between members of a group through the use of public telecommunication infrastructure, maintaining privacy through the use of a tunneling protocol and security procedures. 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. Virtual Private Network Market Statistics: 2027 ![]()
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