What's in store for the future of the VPN industry?
Jun 21, 2022 | Technology |
A VPN, short for virtual private network, is a piece of software that hides your true IP address while encrypting your data in transit. VPNs are useful for a variety of activities since they improve data security, privacy, and streaming freedom.
Working from home has grown widely throughout the world, and Internet restrictions, spying, and cybercrime are all on the rise. It's no surprise that many internet users have chosen one of the top VPN services to safeguard their online privacy in recent years.
According to a new Future Market Insight (FMI) analysis of the VPN Software Market, over one-third of all global internet users use a VPN of some sort, and the market is expected to reach $1.7 billion in 2022. And this upward trend isn't set to stop anytime soon - rather the contrary.
According to Future Market Insights, demand for VPN services is expected to grow at a pace of % every year. This suggests that by 2032, the market will have a market cap of $6.1 billion. In just over a decade, this is an almost 259% increase.
With 49% of all VPN users claiming to use VPNs to access geo-restricted content, Canada and Mexico are at the top of the list. With 37%, Brazil is in third place, followed by the United Kingdom, Ireland, and India, are a few of the key regions with the most VPN streamers.
Furthermore, VPNs will account for around 12% of total sales in the worldwide network security business. The software's appeal is attributed to its simplicity and adaptability, according to experts.
FMI Chief Operating Officer Sudip Saha stated TechRadar, "Internet consumers are anxious to find efficient solutions to avert privacy intrusions." "Given that the majority aren't computer savvy, VPNs tend to stand out as the best solution for such an issue."
Cloud-based VPN services have already experienced a surge in adoption among enterprises. Businesses that require secure remote access, such as professional SEO firms, marketers, travel agencies, financial institutions, and others, can benefit from these.
Cloud VPNs have only been utilized as a substitute for existing corporate services so far. However, experts recognize the merits of this technology will soon make it the top choice for common internet users in the next years.
To know the factors why has the VPN market been expanding at a breakneck pace? Follow the link to our most current in-depth analysis: Read here; https://www.techradar.com/in/news/7-vpn-trends-you-may-not-about
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