Growing deployment of virtual private network (VPN) across industry verticals is one of the significant factors influencing the market growth.
The global Virtual Private Network (VPN) market is expected to reach USD 71.33 Billion by 2027, according to a new report by Reports and Data. The market demand for Virtual Private Networks (VPN) Market is witnessing growth on account of increasing data-breaches, owing to the offering of a private and secure network by VPN for providing access to individuals.
A faster adoption of digital technology and an increase in data consumption in the developing countries, such as India and China, is propelling the growth of the market, which has caused an increase in cyber threats thereby the need for security measures, such as virtual private network. Further, the increasing prevalence and complexity of cyber-attacks, regulatory authorities across the globe have implemented strict regulatory controls and directives, thereby driving the market demand. Moreover, several cloud service providers are taking over VPN service providers to offer VPN services to end-users.
Additionally, growing BOYD (Bring Your Own Device) tend, which allows employees to access sensitive information on their devices, is fuelling the growth of the market.
The COVID-19 Impact
Firms across all sector worldwide are forced to follow ‘work from home’, as the government in various nations are trying implement this and curb spread of Covid-19 disease, along with their efforts to ascertain that their operations are disturbed to a minimum.
The use of remote access technologies virtual private network (VPN) has witnessed a spiraling growth of around 33.0% since the outbreak of the COVID-19 pandemic. The increased growth may be attributed to the decision taken by a large number of firms to allow their staff to work from home, which typically involves joining internal intranets through remote access technologies such as VPN.
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Key participants include Microsoft Corporation, Private Internet Access, CyberGhost S.A., Nord VPN, Netgear Inc., AWS, Huawei, Century Link Google, and Rackspace, among others.
Further key findings from the report suggest
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For the purpose of this report, Reports and Data have segmented the global virtual private network (VPN) market on the basis of component, type, organization size, industry vertical, and region:
Component Outlook (Revenue, USD Million; 2017-2027)
Type Outlook (Revenue, USD Million; 2017-2027)
Organization Size Outlook (Revenue, USD Million; 2017-2027)
Industry Vertical Outlook (Revenue, USD Million; 2017-2027)
Regional Outlook (Revenue, USD Million; 2017-2027)
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