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The global virtual private network market was valued at US$ 31.2 Billion in 2021.
We expect the global virtual private network market to exhibit a CAGR of 15.60% during 2022-2027.
The rising risks of cyber-attacks and data breaches, along with the increasing utilization of virtual private network to safeguard business transactions and confidential data, are primarily driving the global virtual private network market.
The sudden outbreak of the COVID-19 pandemic has led to the growing application of virtual private network across several organizations to conduct web conferencing for communication purposes with greater security, on account of the increasing adoption of work from home model.
Based on the component, the global virtual private network market can be segmented into hardware and software and services. Currently, hardware holds the majority of the total market share.
Based on the type, the global virtual private network market has been divided into remote access VPN, site-to-site VPN, and others. Among these, remote access VPN currently exhibits a clear dominance in the market.
Based on the deployment mode, the global virtual private network market can be categorized into on-premises and cloud-based. Currently, cloud-based deployment accounts for the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global virtual private network market include 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, and NetMotion Software (Absolute Software Corporation).
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