Virtual Private Network (VPN) Market Report 2020: VPN Usage Spirals to an all Time High of 27.1% - Global Forecast to 2027
Dublin, Nov. 24, 2020 (GLOBE NEWSWIRE) -- The "Virtual Private Network (VPN) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
COVID-19 Accelerates Work From Home Revolution. VPN Usage Spirals to an all Time High of 27.1% in 2020
The global market for Virtual Private Network (VPN) is expected to witness unprecedented spurt in growth in the year 2020 to the tune of 27.1%.
By the year 2027, the market is projected to reach US$107.5 billion trailing a CAGR of 17.2% over the analysis period 2020 through 2027. The COVID-19 pandemic confined people to homes, closed down offices, halted transport, and virtually brought social and economic life to a grinding halt. To cope with the abrupt cessation of all operational activities, the world shifted gears to a remote working mode almost overnight.
Millions of employees were migrated to work from home (WFM) models initially as a result of shelter-in-place orders. Although countries are emerging from lockdowns, second of wave infections & voluntary social distancing measures are resulting in companies extending WFM options for their employees. Over the last eight months, 88% of IT companies worldwide migrated their employees to work-from-home (WFH) during the pandemic.
92% of teams in Asia-Pacific have implemented WFH since the outbreak highlighting the need to flatten the curve in countries with less than adequate healthcare resources. 45% of employees cite COVID-19 as the trigger for rapid adoption of remote working strategies. 72% of companies plan to shift a portion of their staff permanently to a WFH model. Over 70% of companies plan to permanently offload over 35% of their workforce to WFM roles to reduce worker density at offices.
In the United States, in the pre-pandemic period only 5% to 7% of the country's workforce was working from home (WFH) although over 58% held jobs compatible with remote work. However, over 35% to 40% will work from home multiple-days-a-week by the end of 2021. The pandemic is creating a global 'Work-At-Home' culture which will very likely last beyond the crisis. Against this backdrop, every company needs a well-thought-out work-at-home and business continuity plan.
Digital transformation is now visible in all industrial sectors. Telehealth will replace doctor visits by 2025; by 2021 new home constructions will include co-working spaces highlighting the permanence of remote working; supply chain 4.0 will reach 100% adoption by 2025; eCommerce will account for 60% of retail spending by 2020 and block chain & tokenization will be integrated into financial services by 2023.Digital technologies provide productivity, security, efficiency, agility, workforce re-skilling, and customer experience advantages, all of which are vital during times of crisis like the current pandemic.
The pandemic is helping test the effectiveness of digital solutions and in the post pandemic world digital innovation will accelerate even further. A key technology playing a crucial role in enabling remote operations is VPN and the technology has witnessed massive increase in adoption in the 1st quarter 2020. In other words, the astounding spike in the number of remote and mobile workers over the last couple of months has brought VPN infrastructures into the spotlight.
Competitors identified in this market include, among others:
Cisco Systems, Inc.
Cohesive Networks
Contemporary Control Systems, Inc.
CyberGhost S.A. (Romania)
Golden Frog GmbH
Google Cloud Platform
Guangzhou Robustel Technologies Co., Ltd.
Huawei Technologies Co., Ltd.
Microsoft Corporation
NCP Engineering GmbH
NETGEAR, Inc.
NordVPN
Oracle Corporation
PureVPN
Safer Social Ltd
SingTel (Singapore Telecommunications Ltd.)
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
COVID-19 Pandemic Provides Strong Push for Virtual Private Networks (VPNs)
VPN Adoption Surges as COVID-19 Pandemic Leads to a Rise in Remote Work and WFM Culture
An Introduction to Virtual Private Network (VPN)
Types of VPNs
Global Market for Virtual Private Network (VPN): Prospects & Outlook
Hardware Captures a Significant Share of VPN Market
MPLS Segment Leads the VPN Market
Large Enterprises Capture Major Market Share
Cloud VPN Market: A High Growth Segment
BFSI: The Major End Use Segment
Developed Regions Lead, Developing Economies to Spearhead Future Growth
Competition
Select Innovations in VPN Market
Comparative Review of Top Virtual Private Networks
World Brands
Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
Transforming the Way Users Browse the Internet, VPNs Continue to Gain Prominence for Businesses & Consumers Alike
VPN Usage Statistics: An Overview
Growing Threat of Cyberattacks and Data Breaches Spurs Adoption of VPNs
Implementation of Effective Security Solutions Highly Critical to Prevent Hacks
Internet Opens Up a Range of Online Security Issues, Bringing to Light the Importance of Secure Access to Networks
VPN Rides the Wave of Transforming Workplace Norms
With Video & Web Conferencing Solutions Becoming Integral to Communications Amidst the Pandemic, VPN Adoption Rises among Enterprises
Rapid Growth of Media Streaming Services Leads to an Increase in VPN Adoption
VPN Bypasses to Drive Adoption among Private Consumers
With Remote/Online Education Becoming the Norm in a COVID-19 Hit World, Security and Privacy Benefits Drive Adoption of VPNs
A Glance at Popular VPNs for College Institutions
Need for Enhanced Mobile Security Boosts Mobile VPN Market
Popular Android VPNs
Cloud VPN Market Poised to Grow at a High Rate
Site-to-Site VPN Market Benefits from Rising Enterprise Investments into Networking Solutions
Anonymity and Privacy Advantages Drive Adoption of VPNs among Consumers
Small Businesses Poised to Benefit from VPN Adoption
OpenVPN Access Server Facilitates Faster VPN Deployment
Promise of Better Security Supports Adoption of VPN in BFSI Sector
Government Agencies Struggle with Legacy VPNs amidst the COVID-19 Outbreak
Use of VPN among Healthcare & Emergency Service Providers on the Rise
Telecommunication Industry Makes Use of VPN Capabilities
Restrictions on VPN, Political Censorship and Regulations in Certain Nations Impede Market Growth
VPN Holds Potential as Digital Marketing Tool
Emergence of Alternatives Threatens VPN
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
GEOGRAPHIC MARKET ANALYSIS
UNITED STATES
VPN Usage Picks Up During COVID-19 Pandemic
Market Analytics
CANADA
JAPAN
Market Overview
An Overview of Prominent VPN Providers in Japan
Market Analytics
CHINA
China's 'Great Firewall' Augments Demand for VPN
List of Popular VPN Vendors in China
Hong Kong: Enactment of New National Security Law Spurs Interest in VPN Services
Market Analytics
EUROPE
Mobile VPN Gains Traction
Cloud Migration and Multi-site Connectivity Sustain Demand for MPLS VPN Solutions
Competitive Landscape
A Peek into Select Popular VPN Services in Europe
Market Analytics
FRANCE
GERMANY
ITALY
UNITED KINGDOM
SPAIN
RUSSIA
REST OF EUROPE
ASIA-PACIFIC
AUSTRALIA
INDIA
COVID-19 Pandemic Spurs Adoption of VPNs in India
Relaxed VPN Norms for IT and ITeS Companies Amidst Coronavirus Outbreak
COVID-19 Pandemic and Internet Shutdowns Boost VPN Adoption
Select Popular VPN Services in India
Market Analytics
SOUTH KOREA
REST OF ASIA-PACIFIC
LATIN AMERICA
ARGENTINA
BRAZIL
MEXICO
REST OF LATIN AMERICA
MIDDLE EAST
IRAN
ISRAEL
SAUDI ARABIA
UNITED ARAB EMIRATES
REST OF MIDDLE EAST
AFRICA
IV. COMPETITION
Total Companies Profiled: 115
For more information about this report visit https://www.researchandmarkets.com/r/crlaly
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