Global Virtual Private Network Market, By Type (Hosted, IP, Multiprotocol Label Switching, Cloud), deployment (On-Premise, On-Cloud), Products (Routers, Switches, Firewalls), by End User (Government, Telecommunication, Manufacturing, Healthcare, BFSI, Utilities) – Forecast Till 2023
Key Findings
- 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.
VPN Market Leaders:
Some of 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 Scenario:
Companies such Golden Frog, GmbH (Switzerland),Microsoft Corporation (U.S), Private Internet Access (U.S), CyberGhost S.A. (Romani), NetGear, Inc. (U.S) are the leading providers of virtual private network in the global market. The VPN allows users to access data remotely with secure tunneling and encryption methods thereby allowing the business continuation which in turn fuel the market growth. The VPN allows the securing of the private business data which might include customer information, product catalog, employee and customer information, company projections. The VPN allows the sharing of data with a particular subset of stakeholders thereby helping in business continuity and reliability.
The VPN enhances the productivity of the organizations as the data is encapsulated into network protocols through a secure passage thereby minimizing and reducing the chances of data breaches and cyber-attacks. The VPN allows the sharing of data with a particular subset of stakeholders thereby helping in business continuity and reliability. The VPN makes the operations more efficient for instance, Brown Bear Corporation (dealing in manufacturing, utility applications and environmental applications) makes use of the VPN by allowing the Supervisory staff to connect via VPN to the office or the brown bear store to increase the management efficiently and reduce the drive time.
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 regional analysis of virtual private network market is being studied for region such as Asia pacific (China, Japan, India), North America (U.S, Mexico, Canada), Europe (U.K, Germany) and Rest of the World. North America is one of the leading regions across the world in terms of market share. The virtual private network market in this region has a huge demand due to the increasing rate of cybercrime which is propelling the market growth to a large extent. The virtual private network market in Europe region is expected to witness rapid growth in the forthcoming period. Whereas, Asia Pacific countries such as China, Japan, and India is an emerging market for virtual private network market is expected to be the highest CAGR in the coming years.
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