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Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Virtual Private Network (VPN) market. Market segmentation includes Type (Multiprotocol Label Switching, Cloud, IP, Hosted); End-Use (BFSI, IT & Telecom, Government, Healthcare, Manufacturing, and Other End-Uses).

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5 November 6:30 p.m., California- According to the new market research report, the global market for Virtual Private Network (VPN) is projected to grow at a CAGR of 17.2% reach US$107.6 Billion by 2027, driven by the growing transition towards Internet-based businesses and work from home activities amidst the ongoing COVID-19 pandemic. Advantages offered in the form of secure and encrypted data transmission, and improved productivity and efficiency of companies are also fostering growth in the VPN market. The global Virtual Private Network (VPN) market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Multiprotocol Label Switching, one of the segments analyzed and sized in this study, is forecast to grow at over 19.1% and reach a market size of US$57.3 billion by the end of the analysis period. The United States is forecast to readjust to a 18.6% CAGR. Within Europe, the worst affected by the pandemic, Germany will reach a market size of US$5.3 billion growing at a CAGR of 15.2% over the next couple of years. In addition, over US$2.4 billion worth of projected demand in the region will come from Rest of European markets. In Japan, the Multiprotocol Label Switching segment will reach a market size of US$3.2 billion by the close of the analysis period. Facing a global backlash over the coronavirus outbreak and spread, China the world's second largest economy faces economic and geopolitical challenges including economic distancing which can likely put China's monopoly of global supply chains in crisis. The Multiprotocol Label Switching segment in this country against this backdrop will grow at a CAGR of 20.2% over the next couple of years to create an addressable market opportunity worth US$9.4 billion by the year 2027.

Virtual private network (VPN) is a communication network that employs a blend of different technologies for securing a connection network. A virtual network, instead of employing a dedicated connection, is set up between various networks scattered geographically and the end-users over the Internet or other public shared networks. Global market for VPN networks is driven primarily by the growing adoption private networks in various industries. With the Internet emerging as the platform for conducting business activities in various industry sectors, the risk of cyberbreaches and data thefts is on the rise. The need to safeguard business data and transactions is thus driving enterprises towards highly secure technologies, thus presenting significant growth opportunities for the VPN market. Through VPN, users can gain access to remote data with secure encryption and tunneling methods. VPN permits data to be shared only with authorized stakeholders, thus ensuring security of customer, employee and company information, product data, and other confidential business information. VPN also helps in improving productivity and efficiency of companies, since data is encapsulated in network protocols and is transmitted securely, thus reducing risk of cyberattacks and data breaches. With the ongoing COVID-19 pandemic impacting business operations, enterprises are increasingly turning towards Internet-based services for business continuity purposes and rapid rise in work from home workforce. The enterprise mobility trend and the need for providing ubiquitous access to company networks especially for remote workforce is also enhancing adoption of VPNs. There is also a significant increase in demand for consumer grade VPNs around the world after the imposition of national quarantines due to COVID-19 pandemic. The global VPN market is however being constrained by budgetary limitations, especially in times of economic stress.

Research Methodology
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. The views, opinions and findings presented are based on validated engagements from a total executive pool size of 16432. Among this pool, 1643 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 329 unique participations, a total of 148 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.

Key Competitors Covered in the Report -
Microsoft Corporation
Cisco Systems, Inc.
Huawei Technologies Co., Ltd.
NETGEAR, Inc.
Golden Frog GmbH
Guangzhou Robustel Technologies Co., Ltd.
NCP Engineering GmbH
Google Cloud Platform
Cohesive Networks
Contemporary Control Systems, Inc.
CyberGhost S.A.
NordVPN

Segments Covered in the Report -
Type (Multiprotocol Label Switching, Cloud, IP, Hosted)
End-Use (BFSI, IT & Telecom, Government, Healthcare, Manufacturing, Other End-Uses)

Geographies Analyzed in the Report -
World
USA
Canada
Japan
China
Europe
France
Germany
Italy
UK
Spain
Russia
Rest of Europe
Asia-Pacific
Australia
India
South Korea
Rest of Asia-Pacific
Latin America
Argentina
Brazil
Mexico
Rest of Latin America
Middle East
Iran
Israel
Saudi Arabia
UAE
Rest of Middle East
Africa.

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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world`s only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.

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