Virtual Private Network (VPN) market in Asia Pacific to grow at 20% CAGR to 2024

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Virtual Private Network (VPN) market share
research by applications and regions for
2018-2024 Global Market Insights, Inc.
Fuel Cell Market size worth 25.5bn by 2024
Low Power Wide Area Network
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Overview of Virtual Private Network (VPN) Market

• The European virtual private network market is
  anticipated to grow at a CAGR of over 13 in
  2017. This growth in the region can be attributed
  to favorable government initiatives and
  compliance regulations mandating companies to
  adopt advanced security measures. The Asia
  Pacific region is predicted to grow at a CAGR of
  20 over the forecast timespan. The widespread
  digitalization across various industry verticals
  and the growing number of smartphone owners are
  driving the growth of the market in the region.
  The presence of protectionist policies in the
  region is limiting the growth of the VPN market.
  For instance, in March 2018, the Chinese
  government restricted the use of VPN services by
  foreign providers. Furthermore, it has also
  instructed the foreign companies to establish a
  dedicated line for cross-border communication.
  This is expected to increase the cost of the
  companys communication infrastructure.
• The virtual private network market is propelled
  by the rising number of advanced and complex
  cybersecurity threats. Over the last decade, the
  internet has become a universal platform for
  conducting business. The cybercriminals are
  leveraging on the internet to commit thefts and
  frauds. The mobile devices are also not immune to
  this trend. The organizations and consumers are
  looking for products and services to safeguard
  their transactions conducted through the
  internet. The VPN provides a safe and
  cost-effective solution to protect the company
  networks.

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• The explosion of mobile and wireless devices
  within organizations is driving the virtual
  private network market. Falling prices and
  improving internet speeds are driving the
  adoption of mobile devices across businesses and
  consumers. The organizations are leveraging on
  the use of mobile devices, such as smartphones,
  tablets, and laptops, to access various business
  applications from remote locations. Security has
  become a primary focus for the organizations as
  increasing number of transactions are carried out
  through mobile devices. Hence, the VPN technology
  has become a crucial component across various
  business verticals.
• The IP segment held 25 share in 2017. The
  virtual private network market is primarily
  driven by its cost-effective nature. It provides
  WAN engineers with total control over the company
  network and allows them to perform any on-the-fly
  configuration changes to rectify any problems
  that might arise. The limited quality of services
  over public internet connections is restricting
  its adoption across large corporations. The cloud
  VPN market is estimated to grow at a CAGR of over
  21 during the forecast timeline. The increasing
  shift toward virtual applications and the surge
  in demand for cloud services are nurturing the
  growth of the cloud market. In addition, the
  rising data concerns are also further adding to
  the growth of the cloud market.

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• The remote access market is expected to grow at a
  CAGR of over 17 over the forecast time frame.
  The growth of the market can be attributed to
  increasing need for an affordable way of sending
  secure data to offsite employees. Therefore,
  remote access topology has been widely
  implemented across SMEs. The extranet market is
  anticipated to grow at a CAGR of 14 over the
  projected timeline. The increasing demand for
  secure remote access solutions to communicate
  with external stakeholders, such as customers and
  business partners, is fostering the growth of the
  virtual private network market.
• The commercial application sector is predicted to
  grow at a CAGR of 15 over the forecast time
  period. The commercial segment comprises
  healthcare, BFSI, IT Telecom, manufacturing,
  and government. The increasing adoption of cloud
  technology and digital recordkeeping in the
  healthcare industry is changing the way people
  access data. Thus, the healthcare establishments
  are embracing VPN technology to protect patients
  sensitive information from unauthorized access.
  The consumer market is expected to register a
  CAGR of approximately 20 over the projected
  timeline. The increasing internet penetration and
  widespread adoption of internet-enabled devices
  are driving the growth of the virtual private
  network market.

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• The companies operating in the virtual private
  network market are Airvpn Di Paolo Brini,
  Anchorfree Gmbh, Anthasoft, S.A. De C.V., Array
  Networks, Inc., Avast Software s.r.o, Blackberry
  Limited., Bufferd, Inc., Checkpoint Software
  Technologies, Cisco Systems, Inc., Citrix
  Systems, Inc., Columbitech Ab, Cryptzone, Cyber
  Ghost, Express VPN, LLC, Golden Frog, GmbH,
  Google, Inc., IBM Corporation, Juniper Networks,
  Inc., Microsoft Corporation, Mudhook Marketing,
  Inc., NCP Engineering GmbH, NetMotion Software,
  Inc., OPENVPN, Inc., Opera Software, Safer Social
  Ltd., Smith Micro Software, Inc., TunnelBear,
  Inc., WatchGuard Technologies, Inc., and
  Windscribe Limited. The players working in the
  market are forming alliances with various VPN
  providers to strengthen their product portfolio
  and increase their customer base. For instance,
  in March 2017, NCP Engineering announced its
  partnership with Juniper Networks to enable a VPN
  remote access solution for SRX series firewalls.

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Methodology

• Market
  research reports Key analytical components

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