By 2020, the global market for Virtual Private Network (VPN) was predicted to increase by 27.1 per cent. Despite the COVID-19 Crisis, the global market for Virtual Private Network (VPN), which was anticipated to be worth US$32.2 billion in 2020, is expected to expand to US$77.1 billion by 2026, with a CAGR of 15.3% throughout the analysis period.
The research offers new perspectives on opportunities and difficulties in the post-COVID-19 sector, which has undergone considerable changes. However, another fifth wave of COVID-19 has hit the world again. Multiprotocol Label Switching, one of the report’s segments, is expected to increase at a 15.4 per cent compound annual growth rate (CAGR) to reach US$42.7 billion by the conclusion of the analysis period.
After a detailed examination of the pandemic’s commercial ramifications and the resulting economic Crisis, the Cloud segment’s growth is corrected to a revised 17.3 per cent CAGR for the next seven years.
How did VPNs become so well-known in the business world?
At initially, VPNs were virtually exclusively employed in the commercial world. The epidemic of high-profile security breaches that happened in the early 2000s, on the other hand, marked a turning point in VPN history. As a result, VPNs are on the minds of everyone these days, from casual users to full-fledged IT security experts.
VPNs are cutting-edge technologies created largely by IT professionals to allow secure remote access to travelling users and securely connect several office sites over the internet. On the other hand, VPNs have exploded in popularity in recent years, becoming one of the most popular and essential tools in any privacy-conscious consumer’s surfing toolset.
The pandemic is helping to evaluate the efficacy of digital solutions, and digital innovation will accelerate even more in the post-pandemic environment. VPN is a major technology that plays a critical role in facilitating remote operations, and it has seen a massive surge in use in the last quarter of 2021. In other words, the recent dramatic increase in the number of remote and mobile workers has thrust VPN infrastructures into the spotlight.
How did the usage of VPN increase during COVID times?
The spike was linked to an increased number of people staying at home due to lockdowns and quarantines. Schools and malls are closed in most nations coping with significant outbreaks, big public gatherings are prohibited, and employees are encouraged to work remotely.
As a result, people are spending more time on the internet than usual, leading to the use of VPNs to access geo-blocked streaming services and content. Yes, you heard it right! The usage of VPNs was not only increased by companies that allow their workers to work from home to ensure that their files are entirely secure and unhackable but also binge-watchers, streamers, and gamers also used VPNs to access geo-restricted streaming sites like Hulu, Disney Plus, and Netflix among others!
Since these major streaming services imposed geo-restrictions which means they aren’t available in every part of the world, the best VPN for Hulu, Disney Plus VPN, and Netflix VPN were accessible to people from anywhere in the world. You can read at Rantent to know more about it.
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Are VPNs worthy of your money?
The short answer is yes. A VPN is good to invest in a premium VPN in this data-centric world, especially if you value online privacy and encryption while browsing the internet. VPN allows your device to connect to a private network while connected to the internet via a public connection.
Whether you want to stream, play your favorite video game or perform your business’s tasks, your data and device will be secured. Your ISP and other third-party providers will not be able to look through the VPN, which creates a secure tunnel between you and the internet. Your device has now been connected to the VPN’s local network, and you can directly change your IP address to one of the VPN’s servers.