VPN Market Share

VPN Market Share & Size in 2024: Data & Analysis

Published on: February 4, 2024
Last Updated: February 4, 2024

VPN Market Share & Size in 2024: Data & Analysis

Published on: February 4, 2024
Last Updated: February 4, 2024

Keen to find out the details of the VPN market share in 2024?

This article is for you.

A virtual private network, most commonly known as a VPN, secures and protects the user’s online data.

These VPNs detect and block harmful content, encrypt internet traffic, and change online identity.

It has a private tunnel in keeping personal information safe while using a public network.

VPN services are becoming more popular since there is a growing number of online privacy issues, data breaches, and cybersecurity attacks around the world.

According to research, the United States acquired the most data breach incidents with almost 5 million breached accounts in the last quarter of 2021. 

Russia comes second with over 3 million breached users and South Korea with more than 2 million affected accounts.

In this way, many people are purchasing VPNs to have a risk-free online experience.

VPN Market Size in 2024

How big is the VPN market size in 2024?

Based on a report, the estimated global market value of VPNs will exceed $44 billion in 2022 compared to the $32.2 billion global market value 2 years ago.

It is expected to hit up to $77 billion in 2026, growing at a compound annual growth rate of approximately 15% from 2020-2026.

Let’s take a look at the VPN market size around the world:

  • In 2019, the global VPN market recorded about $25.41 billion
  • In 2020, the global VPN market recorded about $32.2 billion
  • In 2022, the global VPN market is projected to record about $44.6 billion
  • In 2026, the global VPN market is projected to record about $77.1 billion
  • In 2027, the global VPN market is projected to record about $75.59 billion

VPN Market Share by Country

laptop

Credits: unsplash.com

The global VPN market size is expected to grow by nearly 60% or equivalent to $5.5 billion annually from 2020 until 2024 and will slow down to $5.3 billion by 2027. 

Here are some of the countries that are projected to hold major VPN market share:

  • The United States – reached approximately a $14 billion market size in 2021. It accounts for about 34.83% global market share in 2022
  • China – is expected to exceed an $11 billion market size by 2026, growing at a CAGR of about 17.4%
  • Germany – is expected to trail a CAGR of 12.1%, and the rest of the market in Europe is expected to hit a market size of $12.9 in 2026
  • Canada – is expected to grow its VPN market size by 12.8% annually in 2026
  • Japan – is expected to grow its VPN market size by approximately 12% annually in 2026

List of VPN Market Players

Choosing an excellent VPN service will ensure the security of individuals’ and businesses’ online transactions and data.

It safeguards its users’ information against cyberattacks, surveillance, data theft, and breaches.

Here is a list of VPN market players:

  1. NordVPN
  2. Hotspot Shield
  3. ExpressVPN
  4. Private Internet Access
  5. HMA (HideMyAss)
  6. Atlas VPN
  7. CyberGhost
  8. Surfshark
  9. IPVanish
  10. PureVPN
  11. Proton VPN
  12. VyprVPN
  13. Astrill VPN
  14. Ivacy
  15. Windscribe
  16. Perfect Privacy
  17. TunnelBear

1. NordVPN

NordVPN

One of the outstanding VPN services worldwide is NordVPN. It provides around 5,500 VPN servers globally and offers an encrypted tunnel.

It ensures the best protection against malware, trackers, and third parties, and changes the real IP addresses and locations.

This VPN blocks harmful sites, interruptive ads, and online crawlers.

Based on the latest data, NordVPN is trusted by more than 14 million users with 13.5 million website visits, and approximately 785 million downloads.

This VPN generates $7.8 million in revenue in the first five months of 2020. It recorded a 0.10% market share in the anti-virus market, and its valuation reached $1.6 billion in 2022.

2. Hotspot Shield

Hotspot Shield

Hotspot Shield is one of the fastest VPN services for gaming and streaming. It shields information and data from attackers and hackers.

This VPN offers excellent encryption and access to content around the world. This platform employs 1,800 servers across over 80 countries worldwide.

Hotspot Shield recorded 6.1 million installs and generated $8.8 million in revenue in the first five months of 2020.

It acquires 3.4 million visits and has a 0.02% market share in the VPN market in 2022.

3. ExpressVPN

ExpressVPN

ExpressVPN is a top-rated VPN service that secures internet connections, unblocks streaming services, and protects online data against hackers.

It provides over 3,000 servers, strong encryption, the best connection protocols, and ultra-fast connectivity.

It instantly chooses the best server location through its smart location feature.

Currently, ExpressVPN has more than 3 million users and recorded about 9.8 million visits in August 2022.

This platform acquired 8 million installs and generated $2.3 million in revenue in the first five months of 2020. It has a 0.05% market share in the VPN market in 2022.

4. Private Internet Access

Private Internet Access

Private Internet Access or PIA is one of the most reliable VPN services worldwide.

It offers more than 3,300 servers, outstanding privacy protection, strong security features, advanced antivirus software, and unlimited bandwidth.

It delivers ultra-fast connection speed, a seamless streaming experience, and a no-log policy.

This VPN service is trusted by 15 million users and has 2.1 million visits in August 2022. It generates 341,000 installs and $540,000 in revenue in the first five months of 2020.

PIA has a 0.04% market share in the VPN market.

5. HMA (HideMyAss)

HMA

HMA is one of the biggest VPN networks with more than 1,040 servers in over 290 locations across 210 countries around the world.

It ensures the best transparency and speed, 20Gbps servers, no activity log, and a no-log DNS.

It randomizes IP addresses, stops leaks, and automatically launches to protect data against trackers.

This platform has approximately 10 million users globally and recorded about 2 million visits in August 2022. It has a 1.94% market share in the VPN market.

6. AtlasVPN

Atlas VPN

One of the most competitive and trusted VPN services in the world is AtlasVPN.

It delivers a fast VPN service with outstanding digital privacy solutions, ad-blocking features, a no-log policy, unlimited bandwidth, and strong encryption.

This VPN changes the location and IP addresses, blocks malware, and secures internet connection.

AtlasVPN offers 750 servers across 37 premium countries worldwide. It is trusted by 6 million users and has 2.9 million visits in August 2022.

It generates approximately 5 million in revenue.

Conclusion

In recent years, many people, businesses, and companies are adopting VPNs to secure their information online and acquire access to corporate intranets while working remotely.

These VPN services are mostly purchased by users to hide their real location and change IP addresses, as well as get access to content from different sites around the world. 

VPN service global market is driven by the adoption of private networks in different industries brought by the increasing number of identity theft and data breach cases.

Thanks for reading our article about VPN market share in 2024.

Sources

SimilarwebGlobe News WireEarthweb
StatistaSimilarwebSlintel
SimilarwebSlintelSimilarweb
SlintelSlintelVPN Pro
SimilarwebSlintel

Stay on top of the latest technology trends — delivered directly to your inbox, free!

Subscription Form Posts

Don't worry, we don't spam

Written by Jason Wise

Hello! I’m the editor at EarthWeb, with a particular interest in business and technology topics, including social media, privacy, and cryptocurrency. As an experienced editor and researcher, I have a passion for exploring the latest trends and innovations in these fields and sharing my insights with our readers. I also enjoy testing and reviewing products, and you’ll often find my reviews and recommendations on EarthWeb. With a focus on providing informative and engaging content, I am committed to ensuring that EarthWeb remains a leading source of news and analysis in the tech industry.

Wait, Nord offers 69% off their regular price

Get Your 69% Discount Now