Published Date: 2022-01-03
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North American Virtual Private Network Market size is anticipated to cross USD 25 billion by 2027, according to a latest forecast report by Graphical Research.
The North America market growth is attributed to growing demand for next generation 5G network in the region. The government of different countries such as Canada and U.S. are actively investing to accelerate digitalization across region. For instance, in August 2021, the government of Canada invested USD 44 billion for driving the economic growth of the country and facilitate affordable broadband internet and 5G connectivity for all Canadians. The investment was led by Telesat, an innovative satellite operator. Through this partnership the company facilitated more advanced and high-speed internet connectivity for people of the country.
The VPN services software segment held over 25% market share in 2020 due to growing adoption of smart phone devices and growing number of SMEs across the region. Small and medium enterprises are increasing rapidly across the region. These enterprises need efficient VPN services to connect their customers globally through the internet. Service providers focus on enterprises that do business on a large scale but need to fulfill the demand at the global level.
The Internet Protocol VPN segment accounted more than 18% market share in 2020 owing to growing adoption of remote working environment and increasing need for secure network across the verticals. It is used to connect remote individuals to corporate networks. IP VPN connects private networks through public networks such as the internet as they are inexpensive compared to other way types of VPN-MPLS service. Moreover, rising awareness towards IP VPN such as manage security activity, encrypt network traffic and quality assurance are some factors fueling the market growth.
Browse detailed statistical insights from the report, “North America Virtual Private Network (VPN) Market Forecast 2027 By Type (IP, MPLS (Multiprotocol Label Switching), Cloud VPN, Mobile VPN), By Component (Hardware, Software, Services), By Connectivity (Site-to-Site, Remote Access, Extranet), By Application (Consumer [Smartphones, Tablets, Laptops/PCs], Commercial [BFSI, Healthcare, IT, Government, Manufacturing], Service Providers), Research Report, Country Outlook (U.S., Canada), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The Site-to-site VPN segment dominated around 37% market share in 2020 on account of growing adoption VPN networks and increasing investment in networking solutions. Large, medium and small enterprises are extensively using site-to-site VPN solutions due to its several features such as cost effective, connecting remote users, solve complex business problems and improve security. It extends the company’s network, making the company’s computer resources from one location available to employees at other locations.
The service providers application segment reported market share of over 25% in 2020 due to digitalization and growing demand for effective communication network technology. The companies operating in the market are to developing innovative telephony solutions for their customers. Moreover, the growing popularity of 5G technology is providing significant growth opportunity to the telecom service providers. The growing demand to accelerate 5G network is enabling companies and telecom component providers to develop advance telecom infrastructure and related components in the region.
Canada VPN industry is expected to generate a revenue of over USD 6 billion by 2027 credited to increasing instance of cyberattacks in the country. The growing frequency of cybersecurity issues across businesses from various industry verticals is driving the adoption of VPN solutions. For instance, in October 2021, Canadian Internet Registration Authority reported that volume of blocked cyberattacks recorded between July and September 2021, are 31% higher than previous quarters in Canada. Canadian Internet Registration Authority has blocked 2.2 million DNS request in Q3 in 2021.
The VPN in North America market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2027 for the following segments:
North America Market, By Component
North America Market, By Type
North America Market, By Connectivity
North America Market, By Application
The above information has been provided for the following countries:
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