Virtual Private Network or VPN is a network technology which is used by the organizations and individuals to create a secure network connections. As the security threats to the large enterprises are increasing, the demand for cyber security is growing rapidly.
Market Synopsis of Virtual Private Network Market
VPN can be used to provide a security layer to both private and public networks such as WiFi Hotspots and the Internet. Organizations operating in healthcare, BFSI and telecommunication industry deals with very sensitive information which needs to be protected constantly and hackers are mostly targeting these industries due to very high price of data in black market.
A study shows that “currently, world is experiencing more than half million attacks every minute” which will rise subsequently due to high technology proliferation. Growing banking industry and heavy R&D investment in healthcare industry is making them prime target.
The major driving factor of this market is growth in the cyber security industry, increasing number of security proliferation, growing industries and increasing number of connected devices among others whereas some of the restrains of the market is high deployment cost and need of technical knowledge.
The global VPN market is expected to reach at USD 106 billion by end of year 2022 with compound annual growth rate of 13%.
The prominent players identified in the market of Virtual Private Network are - Microsoft Inc. (U.S.), Private Internet Access (U.S.), CyberGhost (Romania), NordVPN (Panama), Purevpn (Hong Kong), IPVanish (U.S.), Golden Frog (U.S.), Buffered VPN (Hungary), SaferVPN (Israel) among others.
Study Objectives of Virtual Private Network Market:
- To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the Virtual Private Network markets Market.
- To provide insights about factors affecting the market growth.
- To analyze the Virtual Private Network markets market based porter’s five force analysis.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW)
- To provide country level analysis of the market with respect to the current market size and future prospective
- To provide country level analysis of the market for segment by Products, Deployment, Verticals and sub-segments
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Virtual Private Network.
The Virtual Private Network market has been segmented on the basis of-
- By Products- Routers, Switches, Firewalls among others.
- By Deployment- On Premises and On Cloud/Remote.
- By Type- Cloud, Hosted, Multiprotocol Label Switching (MPLS), IP among others.
- By Verticals- Government, Telecommunication, Manufacturing, Healthcare, BFIS, Utilities among others.
The global virtual private network market is being dominated by North America. U.S. is a prime target of hacker which is leading to very high demand for VPN in this region.
North American countries falls under umbrella of developed nations which also makes them a prime target hackers. Rich IT industry along with the growing healthcare sector and high flow of digital money in North American countries are forcing the organizations to adopt VPN in their environment.
Asia-Pacific has emerged as fastest growing market due to the growth of countries such as China and India. China also stands as one of the biggest manufacturing driven economy where cyber security plays very vital role.
Europe VPN market is majorly driven by BFSI and healthcare industry. Growing banking industry is also attracting various cyber threats which is leading to high deployment of VPN.
- Software Development companies
- Application development companies
- Cyber Security Companies
- Research Institutions
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