Virtual Private Network (VPN) Market Size, Industry Growth Drivers and Analysis 2023-2028

The global market is primarily driven by the widespread adoption of private networks in various industries.

SHERIDAN, WYOMING, USA, July 18, 2023/EINPresswire.com/ — IMARC Group, a leading market research company, has recently releases report titled “Virtual Private Network (VPN) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global VPN market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How Big is the Virtual Private Network (VPN) Market?

The global virtual private network market size reached US$ 36.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 89.3 Billion by 2028, exhibiting a growth rate (CAGR) of 15.1% during 2023-2028.

What is Virtual Private Network (VPN)?

A virtual private network (VPN) is designed to provide secure communication between different members of a group using public telecommunication infrastructure. It avoids online price discrimination and offers affordable leased-line alternatives and access to region-block services and high network stability. Besides this, as it enables secure and encrypted connections to provide strong privacy, hide online identity, bypass geo-blocks, and prevent bandwidth throttling, the demand for VPN is increasing across the globe.

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What are the growth prospects and trends in the virtual private network industry?

At present, the rising number of cyber threats and crimes around the world represents one of the primary factors contributing to the growth of the market. Additionally, the increasing adoption of VPNs due to the rising concern about data security among individuals is strengthening the growth of the market.

Apart from this, the growing employment of VPNs on account of the rising demand for remote accessibility among the masses is offering a lucrative growth opportunity to industry players. Moreover, the increasing utilization of mobile and wireless devices in an organization across the globe is bolstering the growth of the market.

Furthermore, the rising preference for VPNs, as they secure the critical and private information of individuals worldwide, is supporting the growth of the market.

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What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Component:
• Hardware
• Software and Services

Breakup by Type:
• Remote Access VPN
• Site-to-Site VPN
• Others

Breakup by Deployment Mode:
• On-premises
• Cloud-based

Breakup by End Use Industry:
• BFSI
• Healthcare
• IT
• Government
• Manufacturing
• Others

Market Breakup by Region:
• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:
• • Array Networks Inc.
• Avast Software s.r.o.
• BlackBerry Limited
• Check Point Software Technologies Ltd.
• Cisco Systems Inc.
• Citrix Systems Inc.
• CyberGhost S.R.L.
• Google LLC
• International Business Machines Corporation
• Juniper Networks Inc.
• Microsoft Corporation
• NetMotion Software (Absolute Software Corporation)

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