According to the research report titled ‘North America Virtual Private Network (VPN) Market Size, By Connectivity, Component, Type, Application, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020-2026A’ available with Market Study Report, North America virtual private network (VPN) market valuation is expected to cross USD 70 billion by the year 2026.
 

Industry experts claim that increasing smartphone penetration, rising occurrences of cybersecurity attacks and data breaches, and growing focus of leading companies towards the development of innovative security solutions are augmenting the growth of North America virtual private network market.
 

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Growing emphasis towards adopting teleworking technologies coupled with escalating demand for VPN services and solutions in the region are positively swaying the North America virtual private network market dynamics.
 

Based on component type, North America virtual private network industry share from the service segment is projected to register a CAGR of 11% over 2020-2026, owing to surging demand for multiservice traffic management solutions as well as flexible portability & connectivity across numerous corporate sites.
 

With regards to type, the cloud segment is predicted to record a 15% CAGR over 2020-2026. Factors such as surging demand for cloud VPN solutions, and rising adoption of cloud computing services are propelling the expansion of the segment.
 

Moving on to connectivity type, the remote access segment currently accounts for 45% of the North America virtual private network market share and is estimated to grow significantly through 2026. Escalating demand for secure access to corporate resources along with beneficial attributes of the service such as enhanced flexibility and low communication costs are emerging as lucrative opportunities for the growth of the segment.
 

Elaborating on application reach, the consumer application segment is expected to emerge as a major revenue generator for the overall market during the analysis timeframe, on account of increasing smartphone penetration along with integration of built-in VPN software in devices to enable encrypted & secure connections between private servers and public internet connections.
 

From a regional frame of reference, North America virtual private network market is fragmented into Canada and the U.S.
 

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