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Vancouver, British Columbia, Canada – May 13, 2020 – VPN Technologies Inc. (CSE: VPN, OTCQB:...
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VPN Services Market Statistics
It is no surprise that the global VPN market has been thriving, with more and more users joining the caravan. Concerns over cybersecurity, Internet censorship, and access to restricted content have been contributing to this growth. These have resulted in the sector’s continued growth with NordVPN and Express VPN gaining the largest VPN services market share.
- The VPN services market is seen to reach $54 billion in 2024 (Global Market Insights).
- Global mobile VPN market to expand at CAGR of 19.7% from 2018–2023 (psmarketresearch.com).
- Global cloud VPN market to grow at a CAGR of 22.30% from 2017 to 2025 (Verified Market Research).
- From 2016 to 2018, the VPN global market grew from $15.4 billion to $20.6 billion. (Statista)
- The projected VPN market value will reach $27 billion by 2020, $31 billion by 2021, and $35 billion by 2022. (Go Globe)
VPN Use Statistics
Behind the market growth is the number of individual VPN users, which has been increasing at breakneck speed. Those in restricted countries and emerging markets lead the pack. Internet users make up the bulk of VPN users, significantly contributing to the market’s growth. Below are statistics that prove these developments.
- A quarter of global Internet users report using VPN every day or nearly every day (go-globe.com).
- Asia Pacific (30%), Latin America (23%), and the Middle East (19%) lead in VPN use (globalwebindex.com).
- Thailand (24%) and Indonesia (22%) users are most likely to use VPN to access entertainment content (globalwebindex.com).
- Younger generations (16- to 24-year-olds) and males (62%) top VPN user groups (statista.com).
- 62% of VPN users are male, while 38% are female. (Geo Surf)
- 77% of VPN users are buying digital content every month. (The Best VPN)
- The countries with the least VPN users are Australia (4%), UK and USA (5%), and Germany (6%). (GeoSurf)
- The number of VPN users grew by 165% in a span of one year (2017 to 2018). (Statista)
Reasons for Using VPN Services
Internet users utilize VPN services for a variety of reasons. These include online security and content access. However, there are a host of other factors behind the use of VPN services. Here are some VPN software facts that further explain them.
- To access entertainment content (50%) and new services/social networks (34%)(globalwebindex.com).
- 29% of VPN users access Netflix every month (globalwebindex.com).
- 31% of Internet users use VPN to keep online anonymity (digitalinformationworld.com).
- 26 out of 65 countries have experienced a decline in Internet Freedom (freedomhouse.org).
- 33% of those who pay for VPN use it to download music, while 27% use it to stream music. 27% are streaming TV or movies. (The Best VPN)
- 17% of consumers use VPN to access a Tor browser. (The Best VPN)
Hootsuite’s 2018 Global Digital Report has revealed some interesting things about the way Internet users utilize VPN services in communication. Here are some of its key findings:
- 42% use VPN to stay in touch with friends.
- 41% use VPN to stay updated with news and current events.
- 37% use VPN to network with others
- 25% of those who pay for VPN use it to communicate with their family and friends abroad. (The Best VPN)
Reasons for Using Mobile VPN Services
Mobile VPN services have also caught the attention of Internet users who want additional security when going online. Developed to protect public WiFi users, these tools can prevent hackers from intercepting data being sent over public WiFi. The following figures gleaned from VPN services research outline reasons for adopting mobile VPN software.
- 61% of online transactions are made through mobile devices (Infosecurity)
- Mobile attacks in the US have increased by 44% as opposed to the 24% uptick for the rest of the world (ThreatMetrix and LexisNexis)
- 150 million mobile attacks were recorded during the first half of 2018, and 24 million of these were linked to mobile online banking (ThreatMetrix and LexisNexis)
- 92% of mobile users using public WiFi ignore phone security warnings (CNBC)
- 600% increase in mobile app fraud was recorded from 2015 to 2018 (RSA)
- There are 5.135 billion mobile phone users in 2019. That’s 4% higher compared to last year. (The Best VPN)
- 4% – the expected mobile phone user penetration worldwide by 2019. (Statista)
This is not a solicitation for the sale or purchase of securities. The information contained herein is inherently limited in scope and does not contain all of the applicable terms, conditions, limitation and exclusions of the investments described herein. Prospective purchasers are encouraged to seek independent investment advice from a qualified financial advisor specific to their personal financial situation as no warranty of suitability is implied. The information contained herein is believed to be reliable, but its accuracy and completeness is not guaranteed.