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The increase in acceptance of advanced technologies in several industry sectors, such as telecommunications, healthcare, retail, and BFSI, among others, is being pushed by continuous research and modernisation by technology businesses. Along with this, the market in North America is growing because of increased R&D spending and higher acceptance of virtual private network resolutions in the telecom industry.
The increased popularity of private networks in many industries is driving the global market for VPN networks. With the internet increasingly serving as a platform for conducting business in various economic sectors, the risk of cyber breaches as well as data thefts is on the rise. As a result of the need to protect business data and transactions, enterprises are increasingly turning to highly secure technologies, presenting significant growth opportunities for the VPN market. Increasing instances of data theft, both financial and personal information, along with compromised online security, are driving the demand for VPN to offer a secure, encrypted connection. Another critical issue pushing many businesses to use VPN technology is the increasing incidence of cyberattacks. In today's dangerous cyber climate, a rising number of business verticals are utilising VPN services to assure total data protection while in transit.
The major companies in the global virtual private network market are Cisco Systems Inc. (NASDAQ: CSCO) and IBM Corporation (NYSE: IBM). IBM is counting on a hybrid cloud to accelerate digital transformation for clients, with about 75% of enterprise workloads yet to migrate to the cloud, further boosting the market for the cloud-based VPN segment.
Market Analysis by Type, Component, Deployment, End Users, and Major Region:
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The major players in the global market are Avast Software S.R.O., Cisco Systems Inc., IBM Corporation, Juniper Networks Inc., and Microsoft Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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