The virtual private network (VPN) market is fragmented. Vendors are using various inorganic and organic growth strategies to compete in the market. The market size is expected to increase by USD 33.95 billion from 2021 to 2026. However, the growth momentum of the market will decelerate at a CAGR of 15.54%. Technavio offers a thorough analysis of the current global market scenario and the overall market environment.
VPN Market: Driver
The growing adoption of BYOD policies in organizations is driving the demand for VPN solutions, which is driving the growth of the market. Organizations are implementing BYOD policies to save on hardware and telecommunication costs. However, enterprises implement security standards to control applications and content on mobile devices. Thus, VPN technology and other mobile security products are key components in organizations to encrypt data on employees’ devices.
Are you looking for more information related to the latest drivers, trends, and challenges impacting the market? View Our Free Sample
VPN Market: Segmentation Analysis
The VPN market has been segmented by type (MPLS, IP, and others) and geography (North America, Europe, APAC, South America, and MEA).
By type, the MPLS segment will have significant market share growth during the forecast period. An MPLS VPN helps business secure their capability of transmitting data and using real-time application services. It also unifies its video, voice, data, and mobility communications, with better performance when compared to the public Internet. Hence, enterprises are significantly investing in MPLS VPN solutions.
By geography, APAC is expected to account for 27% of the market’s growth during the forecast period, with China and Japan being the key countries. Moreover, market growth in APAC is expected to be faster when compared to other regions.
Subscribe to Technavio’s “Lite Plan” billed annually at USD 3000 to view 3 reports monthly and download 3 reports annually.
Check Out The New Martech Cube Podcast. For more such updates, follow us on Google News Martech News