Expanding Penetration of Cloud Sets the Trend in Virtual Private Network (VPN) Market
May 2020 by Global Market Insights
With expanding business activities, need for secure connection from public network has risen considerably. VPN has been creating a private, encrypted tunnel for the online activity as the technology tends to hide the location and make it harder for websites to track.
Several companies have been adopting VPN to protect both the confidentiality and the authenticity of the information which travels via the VPN connection or network system.
Leading companies have realized the importance of VPN and are widely using them to communicate over public to send video, voice and data. Moreover, organizations and remote workers with global offices are reaping benefits from VPN. It is worth noting that individuals are also using VPNs to stream channels and boost security. Global Market Insights, Inc., has projected virtual private network (VPN) market size to surpass $70 bn by 2026.
Trend for BYOD has signified the importance of virtual private network (VPN) as popularity of smartphones has risen in recent years. Growing traction to anonymize online activities has set the trend for VPN. For instance, companies pitching for BYOD are warranting their employees to access specific company services through a VPN as it is believed to provide an encrypted and secure network.
Cloud-based VPN has become a top-notch solution and an incredible asset for organizations to boost security and protect invaluable data and enhance the privacy of the user.
Use of VPN is also believed to enhance the mobility of the office and lead to productive hours. When it comes to working remotely, companies tend to adopt a cloud VPN to provide the required security to enable them to access sensitive information.
As a cloud VPN can easily configure and update any device or a location, cloud-based VPN has become the next big thing to take on downtime. To put things in perspective, some of the factors such as productivity, security, lower cost, client’s trust and business continuity have augured well for cloud VPN market. It is worth noting that VPN has become instrumental to stay ahead in the competition and access platforms such as Skype, Facebook, WhatsApp, and Google where these platforms are blocked. VPN has allowed organizations to mask the actual location and bypass online censorship, thereby leveraging enterprises to access VoIP apps, websites, social medial networks, among several others.
With little or no down time, VPN services are said to be protected with phishing and built-in malware. It is expected that investment in VPN services for remote workers and in-house employees will witness an upward trend in the virtual private network market.
Trend for VPN has been more pronounced in Asia Pacific, Middle East and Africa (MEA) and Europe, and is gradually going mainstream in North America. Amidst the COVID-19 pandemic, call for working from home has fared well for stakeholders in APAC and MEA. In a bid to protect the identity and data while employees are working offshore, VPN has become an apt choice for organizations.
Besides the trend of working from home, soaring cyber-attacks have been playing instrumental role in boosting the popularity of VPN in North America. Even though APAC and MEA are major revenue pockets, stakeholders are exhibiting interest in North America.
VPN has become the linchpin and a necessary addition in the business and will continue to witness an influx of investments. Mounting concern regarding security, productivity and the latest trend for work from home have boded well for the stakeholders in virtual private network industry. Indeed, VPN is the next big thing to ensure the protection of resources from any cyber-attacks.