North America VPN Market size surpassed USD 9 billion in 2020 and is expected to witness 15% CAGR from 2021 to 2027. The growing demand for secure internet network connections will fuel the regional market growth.
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The North America VPN market expansion can be credited to availability of robust cloud infrastructure and growing number of instances of cyber-attacks. The demand for cloud computing technology is growing rapidly due to presence of various enterprises with innovative and advanced IT infrastructure, advancements in emerging technologies, and increasing adoption of SaaS and PaaS platform. Cloud computing technology clarifies IT management and offer advanced security solutions.
During COVID-19 pandemic the demand for remote access and easily deployable model has increased owing to its advanced and secure features. Organization’s employees are using cloud platform for communicating and collaborating with team members.
North America Market, By Component
The hardware component segment accounted for 37% North America VPN market share in 2020, due to growing demand for web enabled devices such as VPN router etc. Virtual Private Network (VPN) routers delivers a highly secure, high-performance, and reliable connectivity to the Internet, other offices, and employees working remotely. The VPN router protects the company’s network from online intruders with firewall protection and network address translation.
North America Market, By Connectivity
Remote access connectivity segment projected a market share of over 30% in 2020, led by growing adoption of cloud computing platform. Remote access VPNs allow secure access to corporate resources by establishing an encrypted tunnel across the internet. The ubiquity of the internet combined with the technological advancements in the remote access VPN technology has allowed organizations to extend the reach of their networks cost-effectively and securely across the region.
North America Market, By Country
The U.S. VPN market is set to generate a revenue of USD 17 billion by 2027, impelled by growing demand for high-speed internet connectivity and government initiative towards adoption secure internet connection in the country. The Federal Communication Commission (FCC) rollback on net neutrality rules is further adding to the growth of the market in the region. The federal government has entered a dispute with the states, internet service providers, and tech companies to maintain control and security over the digital lives of its citizens. This is driving citizens to adopt various VPN apps that maintain their anonymity over the internet.
North America Market, By Application
BFSI application segment dominated more than 40% market share in 2020, attributed to growing demand of VPN solution across BFSI sector. Banks and other financial institutions are increasing using VPN solutions due to increasing instance of data breaches and cyberattack across the sector. Banks and other organizations are using VPN services to deploy security measures to protect their customer credentials across online banking portals.
Competitive Industry Landscape
Some of the leading companies operating in the North America VPN market are Array Networks, Cisco Systems, Citrix Systems, Cohesive Network, CyberGhost VPN, Express VPN, IPVanish, Microsoft Corporation, NETGEAR Inc, Nord VPN, Private Internet Access, and Viavi Solution Inc.
Industry players are focusing on developing advanced VPN solutions their customers. For instance, in September 2020, Viavi Solutions Inc. launched a suite of products to support the delivery of VPN services throughout the lifecycle. The new suite helps customers with validation, pre-deployment testing, monitoring, assurance, and troubleshooting. This launch helped the company to provide support to its customers in every phase of the VPN lifecycle.