VPN Market is set to register 15% CAGR till 2027; Escalating demand in the BFSI sector
Virtual private network market is anticipated to witness healthy growth during 2021 to 2027 owing to surging adoption by multiple organizations and the surging expenditure in networking infrastructure amongst SMEs.
Selbyville, Selbyville – July 20, 2021 /MarketersMedia/ —
The virtual private network (VPN) market demand is slated to register appreciable gains over 2021 to 2027 impelled by surging adoption by multiple organizations and the surging expenditure in networking infrastructure amongst SMEs. As per the latest study by Global Market Insights, Inc., the global VPN market revenue is estimated to surpass USD 120 billion by 2027.
To add on, business enterprises are also witnessing an escalating trend of digitization in addition to a shift towards cloud-based services. To that end, major companies are focusing on the development of innovative VPN solutions, comprising Point to Point (PPTP) and OpenVPN, for serving their customers in an efficient manner.
Considering an instance, in July 2020, Mozilla rolled out its virtual private network (VPN) in the United States, Canada, the United Kingdom., and three other nations, as a part of its strategy for the expansion of revenue opportunities for the Firefox browser. The service is set to be provided on Linux and macOS devices in the near future.
Some major trends impelling virtual private network (VPN) industry outlook are as follows:
Rising adoption of VPN solutions in Europe –
The Europe VPN market share is anticipated to record remarkable revenue throughout the forecast period owing to the surging adoption of VPN services and solutions by numerous government and non-government organizations for securing business insights.
The increasing penetration of internet is as well driving industry expansion in the region. In addition, various governments are presently undertaking numerous initiatives for the enhancement of connectivity infrastructure across Europe.
To access a sample copy or view this report in detail along with the table of contents, please click the link below:
https://www.gminsights.com/request-sample/detail/2756
Increasing demand for extranet solutions –
The extranet segment is estimated to register a substantial valuation across the VPN market through the estimated period. This is because numerous businesses are adopting the extranet framework for gaining a competitive edge via the maintenance of a good relationship with consumers.
These factors are expected to create several opportunities for the private sector for network scalability and other network options. Besides, companies utilize the extranet for the analysis of consumer requirements and market trends.
In this regard, the marketing, sales, and business line management make use of an extensive range of data and usage information which is generated by means of external portals.
Surging popularity of IP VPN –
The IP VPN market size is touted to register lucrative proceeds through the coming years owing to an increase in cybercrime activities across numerous business verticals. Various companies are focused on securing their networks for the accessibility of data in a safe manner and for migrating their core enterprises to digital platforms.
The rising demand for safeguarding businesses from cyberattacks and data breaches is likely to boost IP VPN industry growth through 2027.
Escalating preference for VPN adoption in the BFSI sector –
The BFSI segment accounted for a market share of more than 40% in 2020. This is on account of the escalating demand for online transactions by means of browser-based accounts or mobile devices.
Given the increase in financial transactions via these methods, there has been a rise in the number of cybercrime activities. This has instigated financial institutions and banks to deploy numerous advanced security measures for the protection of sensitive customer information.
In a nutshell, the rapid adoption of work from home culture across enterprises and an increase in the number of cyberattacks will augment VPN market size through the foreseeable period.
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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Organization: Global Market Insights Inc.
Address: 4 North Main Street, Selbyville, Delaware 19975 USA
Phone: 1-302-846-7766
Website: https://www.gminsights.com/pressrelease/virtual-private-network-vpn-market
Source: MarketersMedia
Release ID: 89037449
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