Virtual Private Network (VPN) Market Size, Share, Growth, Trends, and Global Industry Analysis: By Component (Hardware and Software and services), By Type (Hosted, IP, MPLS, Cloud, and Mobile), By End User Industry (BFSI, Healthcare, IT, Government, Manufacturing, and Others) and Region  

Virtual Private Network (VPN) Market size was Valued US$ 31 billion in 2023 and is poised to grow at a CAGR of over 16% from 2024 to 2030. owing to the growing acceptance of VPN solutions across several industries is raising the growth of the market. The industries are leveraging on VPN to enhance their security and access sensitive info from distant locations. The increasing trends such as BYOD is anticipated to boost the growth of the market. Furthermore, substantial rise in the cyber-attacks and rise in demand for cloud-based security solutions is projected to fuel the growth of the market. However, lack of standardization for VPN and data protection are anticipated to hamper the growth of the market.

Furthermore, the rise of the market can be ascribed to the global proliferation of internet services. The majority of internet users access the internet via mobile devices. Consumers and businesses alike are looking for technologies to safeguard transactions undertaken on the Internet from outside the company, and mobile devices are no exception. Companies can use VPN solutions to safeguard their company network and devices from external threats because of these flaws. The deployment of virtual appliances is driving growth in the cloud virtual network market. In comparison to traditional technologies, virtual applications necessitate high engine speeds. The entire cost of the products and services rises as a result of this costly component. Instead of investing considerably in upgrading computing machines, cloud technology allows a corporation to give cost-effective solutions that can simply improve the performance speed of the core infrastructure.