According to the report by Expert Market Research (EMR), the global virtual private network market size reached a value of USD 44.76 billion in 2023. Aided by the increasing need for secure and private internet connectivity in both personal and professional spheres, the market is projected to grow at a CAGR of 14% between 2024 and 2032 to reach a value of USD 145.55 billion by 2032.
A Virtual Private Network is a technology that creates a secure and encrypted connection over a less secure network, such as the public internet. It allows users to send and receive data across shared or public networks as if their computing devices were directly connected to a private network, ensuring privacy and security.
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The rising concerns about data privacy and security and the growing incidences of cyberattacks are the major factors fuelling the global virtual private network market demand. Individuals and businesses alike are seeking ways to protect their sensitive information and maintain confidentiality while accessing the internet.
The virtual private network market growth is the result of advancements in cloud technology and faster services. Virtual Private Networks are beneficial in various sectors, including healthcare and IT, as they provide a secure network for healthcare IT networks. By establishing a robust network and controlling access, the risk of unauthorised access and data breaches can be minimised, especially with the increasing adoption of healthcare cloud technologies and digital recordkeeping. As a result, the market is expected to continue growing in the forecast period, contributing to overall market growth.
The widespread adoption of remote work and the increasing trend of Bring Your Own Device (BYOD) policies in organisations have further propelled the virtual private networks market demand. As employees access corporate networks from various locations and devices, Virtual Private Networks provide a secure way to connect to internal resources without exposing them to external threats.
The virtual private network market is also benefiting from the growing penetration of the internet and the increasing use of mobile devices. With more people accessing the internet on smartphones and tablets, the demand for mobile Virtual Private Network solutions is on the rise, offering users security and privacy while browsing on-the-go.
Technological advancements in the Virtual Private Network sector are also contributing to market growth. Innovations such as SSL VPNs (Secure Sockets Layer Virtual Private Networks) and the integration of artificial intelligence and machine learning for enhanced security are making VPNs more efficient and user-friendly, therefore leading to virtual private network market development.
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Virtual Private Network Market Segmentation
The market can be divided based on the component, type, deployment, end-user, and region.
Market Breakup by Component
- Solution
- Services
Market Breakup by Type
- Remote Access VPN
- Site To Site VPN
- Others
Market Breakup by Deployment
- Cloud
- On Premise
Market Breakup by End-User
- Commercial
- Individual
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global virtual private network market. Some of the major players explored in the report by Expert Market Research are as follows:
- Avast Software S.R.O.
- Cisco Systems Inc
- IBM Corporation
- Juniper Networks, Inc.
- Microsoft Corporation
- Others
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