Virtual Private Network Market Size Worth $92.60 Billion By 2027: Grand View Research, Inc.

Virtual Private Network Market Size Worth $92.60 Billion By 2027: Grand View Research, Inc.

PR Newswire

SAN FRANCISCO, Nov. 5, 2020

SAN FRANCISCO, Nov. 5, 2020 /PRNewswire/ -- The global virtual private network market size is expected to reach USD 92.60 billion by 2027, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 17.4% from 2020 to 2027. The rising level of cybersecurity threats is expected to drive the growth of the market over the forecast period. While high-speed data networks are being rolled out and connected devices are proliferating continuously, data security and privacy protection are emerging as major issues, as people visiting public places are often logging into unsecured Wi-Fi networks. Individuals are particularly targeted by hackers when they enter into vulnerable hotspots and log on to unsecured networks. This is driving the adoption of Virtual Private Networks (VPNs) and leverage the encryption provided by the VPN technology to protect people from malicious activities.

Grand View Research

Key suggestions from the report:

Read 100 page research report with ToC on "Virtual Private Network Market Size, Share & Trends Analysis Report By Component, By Type (Site-To-Site, Remote Access, Extranet), By Deployment Mode, By End Use, By Region, And Segment Forecast, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/virtual-private-network-market

The rising adoption of VPN solutions across several industry verticals and the growing security concerns are some of the significant factors that are driving the growth of the market. For an organization, a virtual private network can potentially encrypt any data to secure the organizational resources when the data is being transferred over a public internet connection. Thus, a VPN subsequently helps in saving expenses by eliminating the need for leased lines. A VPN also helps in improving operational efficiency. For instance, Brown Bear Corporation, which deals with utility, environmental, and manufacturing applications, uses a VPN solution to allow the company's staff to connect to the Brown Bear store or the office to reduce the drive time and increase the management efficiency.

VPNs help in bypassing internet censorship. Since VPN services encrypt complete data, the government is unable to censor a VPN connection, thereby allowing both commercial users and individual users to access sites that would otherwise be impassable. Hence, companies and citizens often turn to VPN solutions to overcome enforced censorship and access the sites that are blocked in any particular country. As a result, although countries, such as China, and Russia, among others, have imposed strict restrictions on VPNs; these restrictions have increased awareness about VPNs rather than restraining the growth of the market.

Grand View Research has segmented the global virtual private network market on the basis of component, type, deployment mode, end-use, and region:

List of Key Players of Virtual Private Network Market

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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