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Virtual Private Network Market at a Highest CAGR of 17.7% with Top Competitors | Cisco Systems Inc, Citrix Systems Inc, CyberGhost S.R.L, Google LLC and More
Virtual Private Network Market
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VPNs use encryption techniques to guarantee that private data, including financial information, passwords, and private chats, stays private and is not captured by hackers or bad actors People and organisations use virtual private networks, or VPNs, to protect their online activity, particularly while utilising public Wi-Fi networks that are susceptible to cyberattacks. They also give users the ability to get around geo-restrictions and access content that could be barred or limited according to where they are in the world.
Virtual Private Network Market Dynamics
The shift to remote work has led to a surge in VPN adoption to secure remote connections and data.
VPNs can sometimes cause latency and reduced network speeds, impacting user experience.
The growing demand for secure remote access presents opportunities for VPN providers to expand their market reach.
Staying ahead of constantly evolving cybersecurity threats requires continuous updates and vigilance.
Top Competitors of Virtual Private Network Market:
Avast Software s.r.o.,
BlackBerry Limited,
Cisco Systems Inc,
Citrix Systems Inc,
CyberGhost S.R.L,
Google LLC,
IBM Corporation,
Absolute Software Corporation,
Opera Holdings,
WatchGuard Technologies Inc, and Others.
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North America held a dominant position in the market, with the greatest revenue share of 34.6% in 2022. This was primarily due to the rapid development in demand from various sectors and industrial verticals in the United States, including business and financial services.
Asia Pacific is anticipated to develop at the quickest CAGR of 19.4%, in accordance with the growing demand of VPN services and solutions in China, India, and other Asian nations. In the Asia-Pacific area, China is expanding significantly, and there are more organised companies using mobile VPN services.
Recent Developments:
March 2019: Roskomnadzor, the Russian regulatory authority, instructed 10 VPN service providers to connect their servers within Russia's network to block users within the country from accessing prohibited websites.
September 2017: VEON, a prominent global connectivity and internet services provider, partnered with Hutchison Global Communications Limited (HGC) to offer their multinational clients a dedicated VPN. This collaboration aims to expand business opportunities by creating a unified virtual sales team for B2B services, integrating their offerings, services, and processes.
Virtual Private Network Market Segmentation:
By Component
Hardware
Software
Services
By Type
Hosted
IP
MPLS
By Connectivity
Site-to-site
Remote access
Extranet
By Deployment
Cloud
On-premise
By End-use
Commercial
Individual
Service providers
By Regional Analysis
North America
Europe
Asia-Pacific
South America
Middle East, Africa and rest of the world
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