According to the research report titled ‘Europe Virtual Private Network (VPN) Market Size By Component, Type, Connectivity, Application, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020-2026A’ available with Market Study Report, Europe virtual private network (VPN) market is anticipated to surpass USD 15 billion by the year 2026.
 

Industry experts claim that surging instances of data breach and cyberthefts, favorable government initiatives towards impelling the adoption of innovative security technologies, and rising internet penetration are augmenting the growth of Europe virtual private network market size. The ITU (International Telecommunication Union) recorded around 568 million internet users in Europe in the year 2019.
 

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Based on component type, Europe virtual private network market from the hardware segment is projected to record a robust CAGR of 7% during 2020-2026. Escalating demand for reliable & effective connectivity, widespread deployment of VPN routers, and beneficial factors such as enhanced firewall protection and network address translation are bolstering the growth of the segment.
 

With regards to type, the mobile VPN segment is predicted to exhibit a 12% CAGR through 2026, owing to rising adoption of cloud services as well as mobile devices. Companies are leveraging mobile VPN to provide secure access for enterprises resources to authenticated users.
 

Moving on to connectivity, the site-to-site connectivity segment of Europe virtual private network market is reckoned to register a 7% CAGR over the forecast period, on account of escalating demand for secure VPN connections between multiple locations.
 

Elaborating on the application spectrum, the commercial sector is predicted to emerge as a major revenue generator for Europe virtual private network market over 2020-2026. Rapid digitization in the BFSI sector, rising adoption of advanced technology solutions, and increasing penetration of mobile devices are fueling the expansion of the segment.
 

The country-level bifurcation of the industry comprises of Netherlands, Spain, Italy, France, Germany, and United Kingdom.
 

Leading players that define Europe virtual private network industry trends are Opera Norway AS, OpenVPN Inc., NordVPN, Juniper Networks Inc., IBM Corporation, Google LLC, ExpressVPN, CyberGhost VPN, Citrix Systems Inc., Cisco Systems Inc., Check Point Software Technologies Ltd., BlackBerry Limited, Avast Software s.r.o., and AirVPN.