Pune, Maharashtra, October 29 2020 (Wiredrelease) Graphical Research –:According to the Graphical Research new growth forecast report titled North America Virtual Private Network (VPN) Market Estimated to Exceed USD 70 Billion By 2026. The North America VPN market growth is attributed to extensive smartphone penetration and increasing incidence of data breaches & cybersecurity attacks. Companies in the region are focusing on the development of advanced security solutions including VPNs. As of 2018, the smartphone adoption rate in Canada was 78%. Considering the increased emphasis on teleworking in the region, the demand for VPN solutions and services is expected to increase significantly at a CAGR of over 9%.
The VPN service segment is witnessing a growth rate of over 11% in the market from 2020 to 2026. The growing need to manage multiservice traffic and provide flexible connectivity & portability across corporate sites will support the segment growth. VPN services alert enterprise administration when vulnerabilities are detected, ensuring secure end-to-end connectivity across the network infrastructure.
The cloud VPN segment is projected to grow exponentially in the North America VPN market at a CAGR of over 15% throughout the forecast timeline. The growing enterprise-wide transition toward cloud infrastructure is expected to drive the demand for cloud VPN solutions. The use of the cloud will help enterprises with a competitive advantage to secure and manage the overall IT infrastructure. In addition, the increasing adoption of cloud services by enterprises is contributing to the VPN market growth.
The remote access connectivity segment is projected to dominate the market with over 45% share by 2026. The remote access VPNs address the demand for secure access to corporate resources by providing an encrypted channel connecting to the internet. Furthermore, companies are adopting remote access connectivity to enhance flexibility and reduce communication costs. Similarly, it provides secure communications with access rights tailored for individual users such as employees, contractors, or partners.
The consumer application segment is anticipated to grow significantly over the forecast timeline. The extensive penetration of smartphones has enabled enterprises to provide a built-in VPN software providing secure & encrypted connection between a private server and public internet connection. The software features an encrypted protective layer for a smartphone’s connection with enterprise resources. The use of smartphones for business purposes is anticipated to propel the VPN market growth.
Some of the key vendors in the North America VPN market include AirVPN, AnchorFree GmbH, Anthasoft SA DE CV, Array Networks, Inc., Avast Software s.r.o., BlackBerry Limited, Buffered Ltd., Check Point Software Technologies Ltd., Cisco Systems, Inc., Citrix Systems, Inc, Columbitech, Cryptzone, CyberGhost S.A., ExpressVPN, Golden Frog GmbH, Google LLC., IBM Corporation, Juniper Networks, Microsoft Corporation, Mudhook Marketing, Inc., NCP Engineering GmbH, NetMotion Software, NordVPN, OPENVPN Inc., Opera Software, Safer Social Ltd., Smith Micro Software, Inc., TunnelBear Inc., Watchguard Technologies, Inc., and Windscribe Limited.
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