We all have concerns about online privacy and security, and that’s not changing anytime soon.
According to a new report from Maximum Market Research, the global market for virtual private networks will grow by more than 17% annually over the next five years. VPN expenditures are projected to reach $150 billion by 2030, more than triple what it was ($48.7 billion) in 2023.
Two key drivers for that growth are the lack of data security on public networks and the increasing number of employees doing remote and hybrid work.
VPN providers are working to boost the appeal of their services for consumers. This week, for instance, ExpressVPN introduced new features for Apple’s iOS app, including shortcuts, Home screen widgets and integration with Siri voice commands.
If you’re not already using a VPN, maybe you’re getting a sense of FOMO — should I jump into the VPN pool?
There are lots of good reasons to do so, including improved privacy, streaming without geo-restrictions and preventing ISP tracking. Check out CNET’s recommendations for the top VPNs (Canada, see here).
If you’re still in the “what’s a VPN?” camp, here’s a short description of how it works. First, you connect to a VPN server, which allows your device to establish an encrypted connection (sometimes called “tunneling in”). Then, all of your internet traffic is routed through that server, thus hiding your public IP address and physical location. The encryption also scrambles data related to your online activity, rendering it unreadable to hackers or cyberthieves.
VPNs are no longer just a “niche” nice-to-have technology for businesses, according to the report cited above. The projected growth of VPNs through 2030, it says, underscores the urgency we feel to keep our data secure.
Maximum Market Research expects North America to dominate the VPN market, with approximately 41% of the market share by 2030.
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Alex Valdes