The large number of enterprises and growth in the Internet users base, especially amidst the ongoing COVID-19 pandemic, is stimulating the VPN market in Europe. Europe is another major regional market for VPN, with the widespread adoption of advanced digital technologies in the region spurring market growth. The widespread adoption of digital technologies and growing incidents of cyberattacks are fueling demand for VPN services. In North America, the VPN market continues to grow due to the increased risk of cybercrime and the subsequent need to protect enterprise data. Developed economies are the leading regional markets for VPN worldwide. Within Europe, Germany is forecast to grow at approximately 12.1% CAGR while Rest of European market (as defined in the study) will reach US$12.9 Billion by the end of the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 12% and 12.8% respectively over the analysis period. China, the world`s second largest economy, is forecast to reach an estimated market size of US$11.2 Billion in the year 2026 trailing a CAGR of 17.4% through the analysis period. The country currently accounts for a 34.83% share in the global market.
is estimated at US$14.3 Billion in the year 2021. The Virtual Private Network (VPN) market in the U.S. Market is Estimated at $14.3 Billion in 2021, While China is Forecast to Reach $11.2 Billion by 2026 The increasing adoption of virtual technologies and devices in application delivery, networking and security products and services is fueling growth in the cloud VPN market. A cloud-based VPN provides access to global VPN to users, including third-party users and subscribers, over the public network.
Real-time applications such as voice over IP (VoIP), video conferencing and business-critical bank apps receive special support from MPLS VPN solutions. The growing need for secure and multi-site connectivity and increasing cloud migration creates steady demand for Multiprotocol Label Switching (MPLS) VPN solutions. This segment currently accounts for a 18.2% share of the global Virtual Private Network (VPN) market. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Cloud segment is readjusted to a revised 17.3% CAGR for the next 7-year period. Multiprotocol Label Switching, one of the segments analyzed in the report, is projected to grow at a 15.4% CAGR to reach US$42.7 Billion by the end of the analysis period. The enterprise mobility trend and the need for providing ubiquitous access to company networks especially for remote workforce is also enhancing adoption of VPNs.Īmid the COVID-19 crisis, the global market for Virtual Private Network (VPN) estimated at US$32.2 Billion in the year 2020, is projected to reach a revised size of US$77.1 Billion by 2026, growing at a CAGR of 15.3% over the analysis period. This is consequently driving adoption and expansion of VPNs. With the ongoing COVID-19 pandemic impacting business operations, enterprises are increasingly turning towards Internet-based services for business continuity purposes. In today`s unsafe cyber environment, more and more industry verticals are adopting VPN services to ensure complete protection of their data while in transmission. The growing number of cases of cyberattacks is another major factor that urges many enterprises to move to VPN technology. Increasing incidences of data theft, both financial and personal information, coupled with compromised web security are propelling the need for VPN to enable a safe, encrypted connection. The need to safeguard business data and transactions is thus driving enterprises towards highly secure technologies, thus presenting significant growth opportunities for the VPN market. With the Internet emerging as the platform for conducting business activities in various industry sectors, the risk of cyberbreaches and data thefts is on the rise. Global market for VPN networks is driven primarily by the growing adoption private networks in various industries. Virtual Private Network or VPN is an encrypted private network that is extended over a public network. Global Virtual Private Network (VPN) Market to Reach US$77.1 Billion by the Year 2026