Virtual Private Network Market Growth Statistics, Trends Analysis, Revenue and Forecast to 2032

The Virtual private network market will exceed USD 350 billion in annual valuation by 2032, propelled by the rising digitalization and the increasing frequency of cyberattacks worldwide. In this modern era outlined by the rising popularity of online video streaming apps, like Netflix, there is a burgeoning need for secure communications to protect the connection. The increasing usage of public Wi-Fi has sparked debates over the safe transmission of sensitive information.

With the influx of the COVID-19 pandemic, which steered multiple changes in work as well as the adoption of cloud, businesses are rapidly deploying next-generation VPNs. In addition to providing several benefits to organizations, such as secured connectivity, access control and simplified distributed networks, these solutions offer cost reduction to support remote workers and sites.

Considering these benefits, several leading solution providers of virtual private network market are actively essaying inorganic marketing ventures for extending their offerings to embrace the increasing application demands. To illustrate, in August 2021, Google One extended Google VPN, its VPN service across seven new countries, including Italy, Spain, France, Germany, the U.K., Mexico and Canada. Not to mention, this network service allows users to surf the internet and protect their identities as well as user details, like IP addresses.

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The hardware is best suited for use in enterprises that have large budgets, and dedicated teams for handling all the maintenance and upkeep. It is primarily a virtual private network market that is based on a single stand-alone device which comprises a dedicated processor to manage functions, such as authentication and encryption. It is largely favored for its ability to protect multiple devices at once, offering a secure dedicated IP address and enabling a strong firewall web security layer. In fact, the built-in security features of the hardware assist organizations that require extra data security on the network connections.

The demand for software virtual private network market is expected to substantially increase in the coming years as they are found to be more affordable, easy to install and scale better as opposed to their hardware counterparts. The popularity of this technology is significantly soaring as it lets users create a secure and encrypted connection over a computer network, like the Internet. No initial investment and lower ongoing costs are some other benefits associated with these components.

The increasing number of service providers worldwide to help internet users worldwide to guard their online identities will positively influence the growth of the VPN market. In October 2022, Google announced its plans to offer free services for letting Pixel 7 users stay anonymous on the web. This rising emphasis laid by major market players will play a key role in the demand for virtual private network market services.

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In the forthcoming years, the growing regulatory support is expected to add impetus to market development. For instance, in May 2022, the Indian IT Ministry ordered virtual private network market companies to collect as well as store users’ data for at least five years. The broadening stream of innovative new technologies, including zero-trust models and software-defined perimeters, will also greatly influence the future of VPNs.

Some of the contenders in the virtual private network market are Cisco Systems, Inc., Golden Frog GmbH, Google LLC., IBM Corporation, Juniper Networks, Microsoft Corporation, and Mudhook Marketing, Inc., among others. Many players predominantly rely on frequent product innovations to stay ahead of competition.

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