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Virtual Private Network Market Trends

ID: MRFR//1608-CR | 100 Pages | Author: Ankit Gupta| February 2020

Virtual Private Network Market Overview

The Virtual Private Network Market is projected to grow from USD 1026.7 billion in 2024 to USD 2714.8 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 12.9% during the forecast period (2024 - 2032). Additionally, the market size for virtual private network was valued at USD 923.5 billion in 2023.

With the growth of the global market, there are chances of an increase in the VPN Market.  There will be a healthy growth rate in the VPN market within the coming years. With the ultimate use of smartphones and other wireless devices, there are more chances of market growth. Also, the technological advancements and higher demands of electronic devices will lead to eventual market growth.

Figure 1: Virtual Private Network Market Size, 2024 - 2032 (USD Billion)

Virtual Private Network Market size

Moreover, some inconveniences like the unfulfillment of security demand and its requirements can hamper the industries, dealing with the international market of virtual private networks. Most of the industries are adopting VPN solutions leads to becoming another important factor of growth. Developments in the trend like BYOD also enhances the growth. Another aspect that leads to market growth is the increasing demands of VPNs in industries based on network security.

Covid 19 Analysis

The COVID 19 situations have positively affected the industries dealing with virtual private networks. The pandemic throws a strong growth in the virtual private network markets as per the estimation of $35.4 billion during the year 2020. If the situation remains the same, the VPN market will lead to a high rate of market growth.

The increased use of VPN during the pandemics was all because of the remote work and work from home services. With the high use of smartphones and desktops, there were a lot of requirements of the virtual private networks throughout the covid 19 situations. The VPN market is steadily rising with its use and it will definitely result in high Virtual Private Network market demand.

VPN Market Dynamics

  • Drivers

This point of the report depicts the factors responsible for the growth of the VPN market. There can be several important factors that help in driving the VPN market share during the estimated forecasting period. Use of smartphones and wireless devices, usage tactics of the VPNs, online internet issues, accessing secured networks are some of the major affecting factors.

The WFH and remote works have also increased the VPN demands. With the more need for online education in schools and colleges, there was a huge increase in the adoption of virtual private network demands. Also, large enterprises adopted the use of VPNs for joining the web conferencing or video call to work efficiently. Moreover, the high rate of use in media streaming services and bypasses has also led to its growth among private customers.

  • Opportunities

Here, the virtual private network market opportunities will be reported. Due to the covid situations, there was a lot of demand for offering different benefits to several users. People need to neglect the wastage of time and work efficiently have turned on the use of VPNs during these times. Alternatively, there was a huge usage of VPNs in several business enterprises, schools, colleges, and other organizations. The introduction of the 5g technology is another most important factor in this positive growth opportunity.

So, the covid 19 was the best possible opportunity that led to increase in such large virtual private network industry. Most of the people looking for advanced security services for smartphones and desktops to ignore the security issues have also voted the VPN markets.

  • Restraints

Despite having a huge demand in the market in the forecasted period, some factors lead to declining the structured growth rate. one of the most important factors that lead to declination is the low awareness of people for technology and VPNs.  Moreover, due to the incompetence of authority and standardization on data and severe security and protection problems, the virtual private network forecast can show a decline.

  • Challenges

There are many challenges in the global virtual private network market research report. Due to the increasing use of VPNs, there is a huge demand in the global market. However, due to a lack of knowledge among consumers about the technological advancements including the VPN market. this can lead to the ultimate downfall in the VPN demands over the forecast period.

  • Cumulative Growth Analysis

During the forecast period, it is likely that the virtual private network industry will increase.  Popular countries like China, Canada, Japan, the USA, and Europe will value estimation of 15.2% CAGR in the global market. Also, the regional VPN market that was estimated at 5.8 billion US dollars in 2020 will extend to 15.6 billion US dollars during the forecasting period.

  • Technology Analysis

With the increase in technological devices like smartphones, desktops, and other wireless devices, the use of VPN will also rise. The increasing use of these technological devices will result in the utmost growth of this market.  Online classes and web conferencing are other required factors for virtual private network analysis. The involvement of more software and applications will boost up the analysis.

VPN Market Segment Overview

There are several different types of market segmentation in the virtual private network industry according to the research. They are Type, Platform, Solution, End-user, deployment, application, and Connectivity. These are the detailed segmentations mentioned below.

By Platform Outlook

  • Mobile and wireless devices

  • Wired devices

By Connectivity outlook

  • Remote

  • Site to Site VPN

  • Others

By Solution Insights

  • Services

  • Software

By Type Outlook

  • Layer 2 Tunneling Protocol

  • Open VPN

  • TLS and SLS

  • Internet Protocol Security

  • Point to Point Tunneling Protocol

  • Others

By Application Insights

  • Intranet VPN

  • Extranet VPN

  • Access VPN

  • Others

By End-user Insights

  • IT

  • Manufacturing

  • Government

  • Healthcare

  • BFSI

  • Others

By Deployment Outlook

  • On-Premises

  • Cloud

Regional Insights

The virtual private network markets are more reliable with the network security industries located across the Middle East, Africa, Europe, Asia Pacific, and other parts of the world. Another significant key that helps in the regional growth of VPN is the increasing disposable income. However, the difference between the demand and supply in the market can lead to a decline.

During the forecasting period until 2023, the most challenging factor can be the smaller number of investments in VPN markets. moreover, the more chance of benefit increases when there is a growth of communication among the growing VPN industries. This report depicts that all this regional analysis is valuable only for the forecasting period that lasts till the end of 2023.

Competitive Developments

This virtual private network analysis report has mentioned the chief segments that are involved in the VPN market. those are type, deployment, platform application, and end-users. Including these segments and other industries involved, there will be more opportunities that will result in the ultimate growth rate of the VPN markets.

According to this forecasting report till 2023, the above opportunities in this technologically advanced and populated world will lead to a steady growth rate. the compound market rate in this sector will have a rise of 18.22% yearly by the end of 2023. With the inclusion of SWOT, companies dealing in research and development, network security, and other regional markets, will pave the way for VPN markets.

List of Competitive Companies

Some significant virtual private network key players are as follows

  • GmbH

  • CyberGhost S.A.

  • Nord VPN

  • Microsoft Corporation

  • Private Internet Access

  • NortonLifeLock Inc.

  • Golden Frog

  • Buffered VPN

  • NetGear INC.

Recent Developments

An announcement has been made on 15 March 2021 by Cloud Nine Web3 Technologies that they have decided to sign an agreement with Victory Square technologies regarding an asset purchase. This will offer intellectual property rights with the production stage of VPNs.

Later, the same company bought the company’s name of “Limitless Technologies” and other companies of Victory square such as Decentrum Ed-Tech software.

Report Overview

This report offers all the necessary researches regarding the virtual private network market that will help the industries and individuals as well. Moreover, this report includes a detailed overview of markets, the VPN segments, regional analysis, competitive analysis, driving, and restraining factors, and other things. All the above details are taken from the primary as well as the secondary data.

By Geographical Outlook

  • Asia Pacific

  • Canada

  • Japan

  • China

  • Europe

  • United Kingdom

  • Rest of the World

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