Sellbyville, DE -- (SBWIRE) -- 05/28/2019 -- The Asia Pacific VPN Market is expected to grow at a high CAGR of over the forecast timeframe. The extensive digitalization across various business verticals and increasing proliferation of smartphones are further adding to the growth of the market. The North America region is leading the virtual private network industry with over 35% share in 2017. The growing number of cyber-attacks on enterprises across various business verticals drives the growth of the market. This encourages the organizations to implement VPN solutions to shield their company resources from unsanctioned access. The European region is predicted to grow at a CAGR of over 13% during the forecast timeframe. This can be credited to the presence of a favorable regulatory scenario mandating various commercial establishments to adopt advanced cybersecurity mechanisms to protect the data.

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The widespread adoption of trends, such as BYODs, is driving the growth of the VPN Market. Permitting employees to link their devices to the company's network exposes the company to various security issues. This makes the organizations susceptible to data thefts & frauds. The VPN technology allows companies to encrypt any information on the employee devices and scans for malware & trojans to secure company's data from unauthorized access. The explosion in mobile and wireless devices is also adding to the growth of the VPN market. The declining prices and improvements in the internet speeds are nurturing the adoption of mobile devices across consumers and businesses.

The hardware market holds over 45% stake in the VPN Market. The growth is attributed to the growing demand for VPN routers among various business verticals and network service providers. The VPN router protects various devices and ensures security against WebRTC & DNS leaks. The software market is predicted to attain a growth rate of over 18% during the forecast timeline. The market is led by the rising adoption of trends, such as digital mobility, across multiple business sectors.

The Multiprotocol Label Switching (MPLS) market accounted for over 40% of the revenue in 2017. The deteriorating ATM/Frame-relay market is anticipated to drive the growth of the MPLS market. The enterprises are using the MPLS VPN solutions to prioritize applications by class of service. The cloud VPN Market is expected to growth at a CAGR of 21% over the projected time period. The snowballing shift toward virtual applications and increasing demand for cloud services are propelling the growth of the cloud market. The mobile VPN market is anticipated to attain a growth rate of 17% over the forecast timeline. This growth is attributed to the growing incidence of cybercrime activities, which led the companies to adopt mobile VPN solutions to safeguard company resources.

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The site-to-site market is dominating the VPN Market with a market share of over 40%. The inexpensive nature of the site-to-site topology is driving the adoption across various business sectors and service providers. It eradicates the need for distinct VPNs in individual systems, thus providing cost-effective solutions to reduce security vulnerabilities. The remote access market is expected to grow at a CAGR of over 17% over the forecast timeframe. This growth is credited to the rising need for affordable means of sending secure data over untrusted networks. The extranet market is predicted to grow at a CAGR of 15% over the forecast timeline. The companies are embracing the extranet framework to gain a competitive edge over their competitors by maintaining good relations with their customers.

VPN Market is anticipated to exceed 54 billion by 2024. The market is driven by the growing adoption of VPN services across numerous industry verticals. The organizations are using VPN technology to enhance their network security and provide remote access to company resources. It is used to encrypt data transferred over public networks to safeguard the company?s sensitive information. In addition, the increasing frequency of advanced and sophisticated cyber-attacks are also adding to the growth of the market. The companies are looking for solutions to protect their transactions conducted over untrusted networks.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
- Airvpn Di Paolo Brini
- Anchorfree Gmbh
- Anthasoft, S.A. De C.V.
- Array Networks, Inc.
- Avast Software s.r.o
- Blackberry Limited.
- Bufferd Inc.
- Checkpoint
- Cisco Systems, Inc.
- Citrix Systems, Inc.

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The players operating in the VPN Market are AirVPN, Anthasoft, NCP Engineering GmbH, TunnelBear, Inc., WatchGuard Technologies, Inc., Safer Social Ltd., Smith Micro Software, Inc., NetMotion Software, Inc., OpenVPN, Inc., Opera Software, Avast Software s.r.o, Buffered, Ltd., Microsoft Corporation, Mudhook Marketing, Inc., IBM Corporation, Juniper Networks, Inc., Golden Frog GmbH, Google, Inc., Columbitech AB, CyberGhost VPN, ExpressVPN LLC, Cryptzone, Cisco Systems, Inc., Citrix Systems, Inc., Checkpoint Software Technologies, Blackberry Limited., Array Networks, Inc., AnchorFree GmbH, and Windsribe Limited.