VPN (virtual private network) is programming used to make an encrypted and safe connection for network that is less secure like public internet. It works by using shared public infrastructure when maintaining privacy via tunnelling protocols and various security procedures.
VPN companies provide the services with WAN engineers to control the company’s network and allow to make configuration changes to solve problems related to it. Increasing shift toward virtual applications and rise in demand for cloud services are basing up the growth of cloud market.
Drivers and restrain factor of the market
Rising adoption of tablets, laptops, wireless devices and mobile in organizations is the major factor that drives the growth of VPN market. The adoption is due to rising trend to access business applications from remote locations. Decline in prices and boosted internet speed is driving the adoption of mobile devices across consumer and business class. Security is now a basic platform for organizations as many transactions are carried out through mobile devices. Hence, VPN technology has become a crucial component across various business verticals.
Major players in the market.
Companies operating in global virtual private network (VPN) market are Private Internet Access, Safer VPN, Nord VPN, Express VPN, TorGuard, VPN Pure, Cyber Ghost, IP Vanish VPN, Golden Frog, and others. The companies are working in stiff competition to gain a major market share and for that they are adopting various strategies such as product launches, developments, partnerships, forming alliances and many more to increase their customer base and strengthen their product portfolio.
Recent key development in the market (2015 onward)
Cheap is the new trend: TorGuard is offering 50% off
When VPN companies are competing on terms of prices, TorGuard came up with new subscription model that offers 50% off on subscription prices, considering the company earned some hate for being too expensive. Along with offer on prices, company came up with a plan to share the connection simultaneously, and split up the cost.
Leading region and fastest growing region
Geographically, the market is segmented into different regions such as North America, Europe, Asia-Pacific and Rest of the World. European VPN market is expected to dominate the market due to the growth in the region can be attributed to compliance regulations and favourable government initiatives mandating companies to adopt advanced security measures. Asia Pacific is anticipated to grow with fastest CAGR during forecast period. Digitalization across industries and rising smartphone owners are driving the growth of the market in the region.
The market study was done by segmenting it into various segmentation. The segments are as product type and application. Product application is segmented as remote access VPN and site-to-site access VPN. Whereas, application segmentation is sub-segmented as corporate VPN users and personal VPN Users.
Increasing adoption of digital recordkeeping and cloud technology in healthcare industry is changing the way people access data. Thus, the healthcare industry is embracing the VPN technology to keep patient’s data protective from unauthorized access. The widespread adoption of internet-enabled devices and increasing internet penetration are driving the growth of the virtual private network market.