Europe VPN Market size crossed USD 7 billion in 2020 and is predicted to observe around 10% growth rate from 2021 to 2027. The increasing frequency of cyberattacks will drive the market demand in the region.
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The Europe VPN market growth is attributed to favorable government initiatives and compliance regulations mandating companies to adopt advanced security measures. Growing internet penetration is fueling the market expansion in this region. The government is currently undertaking various initiatives to enhance the connectivity infrastructure across the region. These supportive government initiatives are aimed at improving the communication infrastructure of the country that has fostered the growth of the market.
Europe Market, By Component
The hardware segment held a market share of over 35% in 2020, due to increasing growth in internet traffic and changing consumer preference towards internet enabled devices. Business organization in region are deploying VPN routers to secure network infrastructure. The VPN router enhance the firewall protection and provides secure access to authenticate users. Firewall protection in VPN router acts as a kill switch along with split tunnel capabilities, restricting users from accessing certain websites. The VPN routers secure multiple devices and ensure security against DNS or WebRTC leaks.
Europe Market, By Type
The MPLS segment accounted for 30% Europe VPN market share in 2020, owing to increasing security issues and growing adoption BYOD solutions. The growing business transformation across various industries has increased the demand for secure data connectivity, which has pushed the demand of MPLS network. Enterprises are using MPLS VPN solutions to prioritize applications by class of services owing to it reduces the need of data link layer technology such as ethernet, frame relay and other.
Europe Market, By Application
In Europe, the BFSI sector acquired more than 30% VPN market share in 2020, credited to growing digitalization across BFSI sector and growing adoption of advanced technological solutions. The financial institutes are using VPN software to protect the portable devices used by banking personals and offer secure connectivity across their bank branches. Moreover, the advent of fintech and mobile payment & wallet solutions is also augmenting the demand for more secure network connections in the BFSI sector to serve customers securely.
Europe Market, By Connectivity
The site-to-site connectivity dominated a market share of 35% in 2020, propelled by increasing number of cyberattacks and growing demand for cloud-based security solutions. The growing instance of cyber threats across the vertical is increasing the demand for secure and reliable VPN solutions. Site-to-site VPN is used in connecting networks placed at different locations using the Internet. The solutions incorporated in the site-to-site VPN helps in connecting various branches or remote offices to the network headquarters wherein each site is equipped with a VPN gateway, such as a router, firewall, VPN concentrator, or a security appliance.
Europe Market, By Country
United Kingdom VPN market will be valued at USD 4 billion by 2027, due to increasing internet penetration and the widespread adoption of various mobile-enabled devices. The government of the UK is using VPN network to connect to various environments. The government is using the VPN to connect various organizations to monitor disaster recovery environments and for syncing data with them. The growing adoption across various sectors is driving the adoption of VPN solutions across several business sectors.
Competitive Industry Landscape
Key players operating in the Europe VPN market are AirVPN, Avast Software, Black Berry LTD, Check Point Software Technologies, Cisco Systems, Citrix Systems, IBM Corporation, Juniper Network, Microsoft Corporation, Nord VPN, Opera Software, and Watchguard Technologies.
Companies are focusing on developing more advanced VPN solution. For instance, in February 2021, Check Point Software Technologies Ltd launched the new CloudGuard Application Security (AppSec), an automated web application and API protection solution. The new solution allows customers to secure all their cloud-native applications against both known and zero-day attacks. This launch helped the company to strengthen its portfolio and position in the market.