VIRTUAL PRIVATE NETWORK MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Global virtual private network market is estimated to be valued at US$ 57.2 Billion in 2024 and is expected to reach US$ 194.7 Billion by 2031, exhibiting a compound annual growth rate (CAGR) of 19.1% from 2024 to 2031.

Report Description:

The market has witnessed tremendous growth over the past few years and is expected to witness significant expansion in the near future. Virtual private network (VPN) extends a private network across a public network and enables users to send and receive data across shared or public networks as if their computing devices were directly connected to the private network. VPNs help to ensure security and privacy online by encrypting traffic between users' devices and VPN servers. These allow people to work from anywhere securely, bypass internet restrictions, and maintain anonymity online. With more people working remotely coupled with growing concerns around online privacy and security, the demand for VPN services is surging globally.

Market Dynamics:

Rising BYOD trends in workplaces, increasing remote and flexible working arrangements, growing concerns around online privacy and security are some of the key factors boosting demand for VPN services. However, availability of free VPN alternatives and lack of awareness in some emerging markets are hampering the market growth. Development of next-gen VPN technologies focusing on enhancing speeds and security coupled with increasing investments by industry players to develop more user-friendly and personalized services present significant growth opportunities for market players.

Key features of the study:

• This report provides in-depth analysis of the global virtual private network market, and provides market size (US$ Billion) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year.
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global virtual private network market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include Cisco Systems Inc., Fortinet FortiClient, Palo Alto Networks GlobalProtect, Check Point Endpoint Remote Access VPN, SonicWall VPN, and Juniper Networks Pulse Secure.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• Global virtual private network market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global virtual private network market.

Market Segmentation

• By Component
  • Solution
• By Type
  • Remote Access
  • Extranet
  • Site-to-site
  • Others
• By Deployment Mode
  • Cloud
  • On-premise
• By End-use
  • Individual
  • Commercial
• By Regional
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Key Players Insights
  • Cisco system Inc.
  • Fortinet FortiClient
  • Palo Alto Networks GlobalProtect
  • Check Point Endpoint Remote Access VPN
  • SonicWall VPN
  • Juniper Networks Pulse Secure
  • Citrix Gateway
  • OpenVPN Access Server
  • F5 BIG-IP Access Policy Manager
  • Barracuda CloudGen Access
  • Zscaler Private Access
  • NetMotion Mobility
  • WatchGuard IPSec VPN
  • Hideman VPN for Business
  • Perimeter 81
  • ExpressVPN
  • Proton VPN
  • NordVPN
  • CyberGhost