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Global Virtual Private Network (VPN) Market to Reach $92.4 Billion by 2026SAN FRANCISCO, May 20, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Virtual Private Network (VPN) - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace. Amid the COVID-19 risis, the global market for Virtual Private Network (VPN) estimated at US$35.4 Billion in the year 2020, is projected to reach a revised size of US$92.4 Billion by 2026, growing at a CAGR of 17.2% over the analysis period. Multiprotocol Label Switching, one of the segments analyzed in the report, is projected to record a 19.1% CAGR and reach US$57.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Cloud segment is readjusted to a revised 16.5% CAGR for the next 7-year period. MPLS provides assistance in shaping traffic flow of networks, increasing network performance as well as speed, thus allowing users to work with multiple application using a single network infrastructure. MPLS offers significant advantages in terms of improved scalability, reduced network congestion, improved bandwidth utilization, performance, scalability, and improved end-user experience. The increasing adoption of virtual technologies and devices in application delivery, networking and security products and services is fueling growth in the cloud VPN market. The U.S. Market is Estimated at $15.1 Billion in 2021, While China is Forecast to Reach $12.3 Billion by 2026 The Virtual Private Network (VPN) market in the U.S. is estimated at US$15.1 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$12.3 Billion by the year 2026 trailing a CAGR of 18.2% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 15.2% and 16.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 15.2% CAGR. In North America, the VPN market continues to grow due to the increased risk of cybercrime and the subsequent need to protect enterprise data. The widespread adoption of digital technologies and growing incidents of cyberattacks are fueling demand for VPN services. Europe is another major regional market for VPN, with the widespread adoption of advanced digital technologies in the region spurring market growth. The large number of enterprises and growth in the Internet users base, especially amidst the ongoing COVID-19 pandemic, is stimulating the VPN market. The surging adoption of digital technologies and Internet connectivity in developing economies and the subsequent rise in risk of cyberbreaches is propelling demand for security solutions, such as VPNs. IP Segment to Reach $16.6 Billion by 2026 The IP VPN market is experiencing high growth, driven mainly by the significant cost benefits offered by the technology. Since IP technology enables connectivity of private networks via public networks, the cost incurred is low compared to other VPN technologies such as MPLS. IP services also help in simplifying the overall design of private networks and ensures high quality of service for mission critical operations. It is due to this reason that IP VPN is emerging as a lucrative option for enterprises looking to cut down expenditure on networking. In the global IP segment, USA, Canada, Japan, China and Europe will drive the 15.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$5.8 Billion in the year 2020 will reach a projected size of US$15.6 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2 Billion by the year 2026, while Latin America will expand at a 15.3% CAGR through the analysis period. More MarketGlass™ Platform Our MarketGlass™ Platform is a free full-stack knowledge center that is custom configurable to today's busy business executive's intelligence needs! This influencer driven interactive research platform is at the core of our primary research engagements and draws from unique perspectives of participating executives worldwide. Features include - enterprise-wide peer-to-peer collaborations; research program previews relevant to your company; 3.4 million domain expert profiles; competitive company profiles; interactive research modules; bespoke report generation; monitor market trends; competitive brands; create & publish blogs & podcasts using our primary and secondary content; track domain events worldwide; and much more. Client companies will have complete insider access to the project data stacks. Currently in use by 67,000+ domain experts worldwide. Our platform is free for qualified executives and is accessible from our website www.StrategyR.com or via our just released mobile application on iOS or Android About Global Industry Analysts, Inc. & StrategyR™ Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world's only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years. CONTACTS: Zak Ali Director, Corporate Communications Global Industry Analysts, Inc. Phone: 1-408-528-9966 www.StrategyR.com Email: [email protected] LINKS Get Full Report Details https://www.strategyr.com/market-report-virtual-private-network-vpn-forecasts-global-industry-analysts-inc.asp Join Our Expert Panel Connect With Us on LinkedIn Follow Us on Twitter Journalists & Media View original content to download multimedia:http://www.prnewswire.com/news-releases/global-virtual-private-network-vpn-market-to-reach-92-4-billion-by-2026--301296263.html SOURCE Global Industry Analysts, Inc. |