By 2022, the global VPN market is forecast to hit 35.73 billion dollars. That’s nearly two times the amount forecast for this year, according to Orbis Research. However, this study was done in 2016. The following year, in 2017, Market Research Future reported findings that by 2022, the global VPN market would crush that estimate, hitting $106 billion!
Why the vast difference in estimates? We think part of it is the unexpected growth of the market, fueled by these three factors:
- Increased personal use. Many users may have thought a VPN was only used by businesses; however the word is out that personal VPN use has awesome benefits. We’ve outlined some of the differences between personal and corporate VPN uses in this past article. More and more individuals are recognizing the need to be on the lookout for their own privacy and have started using VPN software on their mobile devices, laptops and home networks.
- The media coverage of data breaches and net neutrality has brought privacy to the spotlight, which has also increased the demand of the VPN market. Our CEO, Francis Dinha, explained how a VPN is the only way to maintain your personal net neutrality now: “We do have solutions on the consumer side, in the form of VPNs like Private Tunnel, which will give you your own personal net neutrality as you surf the web. With a VPN, ISPs won’t be able to access your private data. They won’t even be able to see what sites you’re visiting, and therefore won’t be able to censor or throttle those sites accordingly. So if you want to maintain your browser’s net neutrality from a consumer standpoint, that’s your solution.”
- Public WiFi and hotspots are abundant. Many businesses, gyms, government locations, even parks, now provide free WiFi. However, it’s easy to forget that public networks are prime targets for cyber criminals. Related to the increased number of public hotspots available is the growth of the gig economy. Check out our blog about how a VPN helps small businesses, many fueled by the gig economy, protect their valuable data.
From the public’s shifting concerns about online privacy and civil liberties to the continuing increase of technological resources, the VPN market will continue to grow exponentially. We wouldn’t be surprised in the least if the next research study found another major increase in VPN market expectations for the future. Is it part of your personal and business use? If not, start with a free trial of Private Tunnel and take control of your privacy.