Dublin, Nov. 24, 2020 (GLOBE NEWSWIRE) — The “Virtual Private Network (VPN) – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
COVID-19 Accelerates Work From Home Revolution. VPN Usage Spirals to an all Time High of 27.1% in 2020
The global market for Virtual Private Network (VPN) is expected to witness unprecedented spurt in growth in the year 2020 to the tune of 27.1%.
By the year 2027, the market is projected to reach US$107.5 billion trailing a CAGR of 17.2% over the analysis period 2020 through 2027. The COVID-19 pandemic confined people to homes, closed down offices, halted transport, and virtually brought social and economic life to a grinding halt. To cope with the abrupt cessation of all operational activities, the world shifted gears to a remote working mode almost overnight.
Millions of employees were migrated to work from home (WFM) models initially as a result of shelter-in-place orders. Although countries are emerging from lockdowns, second of wave infections & voluntary social distancing measures are resulting in companies extending WFM options for their employees. Over the last eight months, 88% of IT companies worldwide migrated their employees to work-from-home (WFH) during the pandemic.
92% of teams in Asia-Pacific have implemented WFH since the outbreak highlighting the need to flatten the curve in countries with less than adequate healthcare resources. 45% of employees cite COVID-19 as the trigger for rapid adoption of remote working strategies. 72% of companies plan to shift a portion of their staff permanently to a WFH model. Over 70% of companies plan to permanently offload over 35% of their workforce to WFM roles to reduce worker density at offices.
In the United States, in the pre-pandemic period only 5% to 7% of the country’s workforce was working from home (WFH) although over 58% held jobs compatible with remote work. However, over 35% to 40% will work from home multiple-days-a-week by the end of 2021. The pandemic is creating a global ‘Work-At-Home’ culture which will very likely last beyond the crisis. Against this backdrop, every company needs a well-thought-out work-at-home and business continuity plan.
Digital transformation is now visible in all industrial sectors. Telehealth will replace doctor visits by 2025; by 2021 new home constructions will include co-working spaces highlighting the permanence of remote working; supply chain 4.0 will reach 100% adoption by 2025; eCommerce will account for 60% of retail spending by 2020 and block chain & tokenization will be integrated into financial services by 2023.Digital technologies provide productivity, security, efficiency, agility, workforce re-skilling, and customer experience advantages, all of which are vital during times of crisis like the current pandemic.
The pandemic is helping test the effectiveness of digital solutions and in the post pandemic world digital innovation will accelerate even further. A key technology playing a crucial role in enabling remote operations is VPN and the technology has witnessed massive increase in adoption in the 1st quarter 2020. In other words, the astounding spike in the number of remote and mobile workers over the last couple of months has brought VPN infrastructures into the spotlight.
Competitors identified in this market include, among others:
- Cisco Systems, Inc.
- Cohesive Networks
- Contemporary Control Systems, Inc.
- CyberGhost S.A. (Romania)
- Golden Frog GmbH
- Google Cloud Platform
- Guangzhou Robustel Technologies Co., Ltd.
- Huawei Technologies Co., Ltd.
- Microsoft Corporation
- NCP Engineering GmbH
- NETGEAR, Inc.
- Oracle Corporation
- Safer Social Ltd
- SingTel (Singapore Telecommunications Ltd.)
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- COVID-19 Pandemic Provides Strong Push for Virtual Private Networks (VPNs)
- VPN Adoption Surges as COVID-19 Pandemic Leads to a Rise in Remote Work and WFM Culture
- An Introduction to Virtual Private Network (VPN)
- Types of VPNs
- Global Market for Virtual Private Network (VPN): Prospects & Outlook
- Hardware Captures a Significant Share of VPN Market
- MPLS Segment Leads the VPN Market
- Large Enterprises Capture Major Market Share
- Cloud VPN Market: A High Growth Segment
- BFSI: The Major End Use Segment
- Developed Regions Lead, Developing Economies to Spearhead Future Growth
- Select Innovations in VPN Market
- Comparative Review of Top Virtual Private Networks
- World Brands
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Transforming the Way Users Browse the Internet, VPNs Continue to Gain Prominence for Businesses & Consumers Alike
- VPN Usage Statistics: An Overview
- Growing Threat of Cyberattacks and Data Breaches Spurs Adoption of VPNs
- Implementation of Effective Security Solutions Highly Critical to Prevent Hacks
- Internet Opens Up a Range of Online Security Issues, Bringing to Light the Importance of Secure Access to Networks
- VPN Rides the Wave of Transforming Workplace Norms
- With Video & Web Conferencing Solutions Becoming Integral to Communications Amidst the Pandemic, VPN Adoption Rises among Enterprises
- Rapid Growth of Media Streaming Services Leads to an Increase in VPN Adoption
- VPN Bypasses to Drive Adoption among Private Consumers
- With Remote/Online Education Becoming the Norm in a COVID-19 Hit World, Security and Privacy Benefits Drive Adoption of VPNs
- A Glance at Popular VPNs for College Institutions
- Need for Enhanced Mobile Security Boosts Mobile VPN Market
- Popular Android VPNs
- Cloud VPN Market Poised to Grow at a High Rate
- Site-to-Site VPN Market Benefits from Rising Enterprise Investments into Networking Solutions
- Anonymity and Privacy Advantages Drive Adoption of VPNs among Consumers
- Small Businesses Poised to Benefit from VPN Adoption
- OpenVPN Access Server Facilitates Faster VPN Deployment
- Promise of Better Security Supports Adoption of VPN in BFSI Sector
- Government Agencies Struggle with Legacy VPNs amidst the COVID-19 Outbreak
- Use of VPN among Healthcare & Emergency Service Providers on the Rise
- Telecommunication Industry Makes Use of VPN Capabilities
- Restrictions on VPN, Political Censorship and Regulations in Certain Nations Impede Market Growth
- VPN Holds Potential as Digital Marketing Tool
- Emergence of Alternatives Threatens VPN
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
- GEOGRAPHIC MARKET ANALYSIS
- UNITED STATES
- VPN Usage Picks Up During COVID-19 Pandemic
- Market Analytics
- Market Overview
- An Overview of Prominent VPN Providers in Japan
- Market Analytics
- China’s ‘Great Firewall’ Augments Demand for VPN
- List of Popular VPN Vendors in China
- Hong Kong: Enactment of New National Security Law Spurs Interest in VPN Services
- Market Analytics
- Mobile VPN Gains Traction
- Cloud Migration and Multi-site Connectivity Sustain Demand for MPLS VPN Solutions
- Competitive Landscape
- A Peek into Select Popular VPN Services in Europe
- Market Analytics
- UNITED KINGDOM
- REST OF EUROPE
- COVID-19 Pandemic Spurs Adoption of VPNs in India
- Relaxed VPN Norms for IT and ITeS Companies Amidst Coronavirus Outbreak
- COVID-19 Pandemic and Internet Shutdowns Boost VPN Adoption
- Select Popular VPN Services in India
- Market Analytics
- SOUTH KOREA
- REST OF ASIA-PACIFIC
- LATIN AMERICA
- REST OF LATIN AMERICA
- MIDDLE EAST
- SAUDI ARABIA
- UNITED ARAB EMIRATES
- REST OF MIDDLE EAST
- Total Companies Profiled: 115
For more information about this report visit https://www.researchandmarkets.com/r/crlaly
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