According to a recent report by Reports and Data, the global Cloud Virtual Private Network (VPN) Market was valued at USD 7.03 billion in 2021 and is predicted to experience a compound annual growth rate (CAGR) of 21.6% during the forecast period. The growth of the virtual private network market can be attributed to several factors, including an increase in concerns about data security, a rise in sophisticated cyber threats, and an increase in the use of mobile and wireless devices in businesses.
Other factors contributing to the growth of the VPN market include the demand for remote accessibility, although the market growth may be restrained due to a lack of virtualization skills. On the other hand, the growing adoption of private cloud technology is expected to create opportunities for the expansion of the virtual private network market in the coming years.
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The solution segment dominated the virtual private network market size in 2019, based on component, due to the benefits it provides, such as network scalability, circumventing geo-blocks, preventing bandwidth limiting, avoiding online price discrimination, and providing less expensive leased-line alternatives. Commercial users held the largest market share for virtual private networks globally in 2019, attributed to the increased emphasis on creating secure networking environments for enterprises, the rise in data breaches, and the intensifying cyber threats.
Mozilla launched its for-pay VPN service for Windows and Android devices in July 2020. This VPN service has a "no-logging" policy that enables customers to maintain the privacy of their system data, including their IP address, browsing history, session length, timestamp, DNS request, and similar data points. In 2020, the hardware sector had the largest revenue share worldwide, driven by the increasing demand for VPN routers due to growing VPN use.
Driving factors of Cloud Virtual Private Network (VPN) Market
- Increase in data security concerns
- Rise in sophisticated and advanced cyber threats
- Growing use of mobile and wireless devices within enterprises
- Demand for remote accessibility
- Adoption of private cloud technology
Some of the notable innovations in the Cloud Virtual Private Network (VPN) Market
One notable innovation in the Cloud Virtual Private Network (VPN) Market is Mozilla's for-pay VPN service for Windows and Android devices, which was launched in July 2020. This VPN service has a "no-logging" policy that enables customers to maintain the privacy of their system data, including their IP address, browsing history, session length, timestamp, DNS request, and similar data points. Another notable innovation is the increased demand for VPN routers, which is fueling the expansion of the hardware sector of the VPN market.
The market analysis mentioned major companies
JUNIPER NETWORKS, BlackBerry Limited, Cisco Systems, Inc., Citrix Systems, Radio IP Software Inc., Google LLC, IBM Corporation, NetMotion Software, Opera Norway AS, and WatchGuard Technologies, Inc. The market report profiles several companies, including Array Networks, Inc., Avast Software s.r.o, Check Point Software Technologies Ltd., Cisco Systems, Inc., Citrix Systems, Inc., CyberGhost S.R.L., Express VPN International Ltd., Golden Frog GmbH, Google Inc., Juniper Networks, Inc., Microsoft Corporation, NCP Engineering GmbH, NetMotion Software, NordVPN, OpenVPN Inc., Opera Norway AS., Pango Inc., TunnelBear Inc., Watchguard Technologies, Inc., and Windscribe Limited.
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