DUBLIN--(BUSINESS WIRE)--The "Virtual Private Network Market - Growth, Trends and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The virtual private network market is expected to register a CAGR of 15% over the forecast period (2019-2024).
The virtual private network extends a private network across a public network, and it enables users to send and receive data across shared or public networks assuming that the computing devices were directly connected to the private network.
- The significant factor responsible for driving the growth of the VPN market is the increasing adoption of VPN solutions across various industry verticals. VPN can encrypt any data, which is transferred over the public internet connection to secure company resources. It also helps to save unnecessary expenses by eliminating the need for leased lines.
- Significant rise in the number of cyber-attacks and surge in demand for cloud-based security solutions is expected to boost the virtual private network market over the forecast period.
- Due to the emergence of trends, such as BYOD, there is a growth of the VPN market. VPN helps organizations to encrypt their data on the employee's device. It also scans devices for malware to shield the company's sensitive data from any unauthorized access.
The high price of the mobile virtual private network is responsible for hampering the growth of the VPN market. VPN makes the operations more efficient. For instance, Brown Bear Corporation (dealing in manufacturing, utility applications, and environmental applications) makes use of the VPN by allowing the Supervisory staff to connect via VPN to the office or the brown bear store in order to increase the management efficiency and reduce the drive time.
Key Market Trends
MPLS Expected to Have Significant Growth
- Due to the growing expansion of enterprises globally, there is a need for secure connectivity among different business units and effective means for data management, which will further boost the adoption of MPLS networks. MPLS offers excellent quality of service in terms of avoiding packet loss and keeping a business's most crucial traffic flowing.
- Around 79% MNCs have network management as a critical concern for a CIO and the enterprises push the adoptions of networks that are scalable, secure, and flexible enough to accommodate the vast expanding array of services. Around 63% of MNCs opt for outsourcing, including buying managed network and telecom services in order to achieve overall cost savings and focus on core business competencies.
North America Expected to Hold Significant Market Share
- North America region is expected to hold a significant market share for this market. United States is fed by the increasing rate of cybercrime, presence of strong demand due to its service and I.T. led industry pattern and demand for high-end services and privacy.
- The increasing number of cyber-attacks on enterprises across various business verticals are responsible for the growth of this market. This encourages organizations to implement VPN solutions to shield their company resources from unsanctioned access. There is a huge demand for VPN due to the increasing rate of cybercrime, which is propelling the market growth.
- According to Forbes, around 31% of the organizations in the United States have experienced cyber-attacks on operational technology infrastructure in 2017 and due to this reason organizations are adopting secure and advanced solutions to protect their data. Moreover, the high internet penetration and wide adoption of smartphones in the region are also promoting the use of VPN solutions.
The virtual private network market is consolidated and has many large players present. There are many mergers and partnerships taking place in this market thereby helping to propel the growth of the market.
- October 2018 - Mozilla announced its partnerships with ProtonVPN to offer VPN services to security-conscious Firefox users. This partnership will strengthen its product portfolio and generate additional revenue sources to increase its profitability.
- September 2018 - Cisco and Jio announced an extension of their partnership to tap an INR 500 billion enterprise market. Jio has created a complete greenfield Internet Protocol or IP-backed network based on VoLTE technology, and its partnership with Cisco will include IP/MPLS, data center, integrated mobile core, service provider Wi-Fi, contact center, security, and enterprise IT.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Value Chain / Supply Chain Analysis
4.3 Industry Attractiveness - Porter's Five Force Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increasing Adoption of VPN Solutions
5.1.2 Growing Number of Cyber-Attacks
5.2 Market Restraints
5.2.1 Lack of VPN Standardization and Data Protection
6 MARKET SEGMENTATION
6.1 By Component
6.2 By Type
6.3 By End-user Industry
6.3.1 Consumer Electronics
6.3.7 Other End-user Industries
6.4.1 North America
6.4.4 Latin America
6.4.5 Middle East & Africa
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Microsoft Corporation
7.1.2 Cisco Systems Inc.
7.1.3 NetMotion Software Inc.
7.1.4 Radio IP Software Inc.
7.1.5 IBM Corporation
7.1.6 Check Point Software Technologies Limited
7.1.7 Golden Frog GmbH
7.1.8 Avast Software S.R.O.
7.1.9 CyberGhost S.A.
7.1.10 Array Networks Inc.
7.1.11 Citrix Systems Inc.
8 INVESTMENT ANALYSIS
9 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/fcod5h