A decade ago, VPNs, also known as virtual private networks, were only associated with businesses. The consumer VPN industry is now; previously, it was non-existent, where many people utilized proxies to access the blocked websites.
However, with an increasing trend towards streaming websites at faster speeds, people have started using VPNs. A massive contribution is of Netflix as half of the population uses VPN for entertainment purposes, and only 31% use it for anonymity.
For this very reason, VPN services are now known to be user-friendly, via which several applications enable users to have one-click connections; in this way, even a non-technical person can get their hands on VPNs. Censorship, prosecution, and geo-blocked content are specific reasons why the VPN industry is likely to grow to around $54 billion by the year 2024.
This is why entrepreneurs should fully utilize this booming trend.Today we have hundreds of VPN providers in the market, offering both free and paid plans. Each of these services promotes an excellent level of security and the capability to avoid geo-blocking measures.
But in reality, not all VPNs can keep these promises, and only a few leading providers can provide the services.
As of now, there are three prominent leaders in the industry; ExpressVPN, Hotspot Shield, and NordVPN.
The ExpressVPN is currently the market leader due to its monetary value. According to the website metrics, the research stated that this particular VPN had monthly traffic of around $700,000, which is higher than NordVPN, second in the lead. ExpressVPN is also known as a top contender in different areas, even in terms of overall popularity.
Hotspot Shield is known to be the greatest dominator in the consumer VPN industry, and it also has a free version. Although Hotspot has a paid version, many of the users opt for the free option.
For this particular reason, Hotspot Shield takes the lead when it is about the total number of VPN applications installed via App Store and Google Play, and it exceeds 1.75 million installs. They also have a massive following on social media, with 4.1 million followers on Facebook alone.
This option seems to be most suitable in terms of getting most consumers. They are also known to have the most servers in their fleet and are effective in accessing geo-restricted content such as BBC’s iPlayer or Netflix.
NordVPN takes the lead in global searches and even searches from the productive US market, around 1.2 million searches per month.
After all this analysis, it is essential to consider how this VPN industry will look like in the coming years, particularly for entrepreneurs looking to build in this space. Because of the existing political and copyright issues worldwide, growth predictions show that the VPN industry will continue to rise.
Here are some predictions for the coming years that can strike an increase in consumer VPN usage;
Wider political repression
Several countries worldwide have started blocking websites and certain online services from getting access within their borders. Countries including Turkey, Uganda, and Sri Lanka have shut down several social media sites and apps in their regions.
Moreover, few restrictive regimes like Russia and China continue to limit the use of the internet for their residents,
Increased fear of data breaches
The data scandals that circulate the social media platforms such as Facebook have affected consumers to the extent that they are always concerned about their online security and privacy.
These data breaches and scandals from even finance and healthcare organizations convince people to turn to VPNs to avoid data breaches.
Constant issues by Netflix and other streaming sites
The primary reason consumers are attracted to VPN is accessing the geo-restricted content from services like Hulu, Netflix, iPlayer, Youtube, and even Spotify. While a VPN offers robust security and privacy features, 49% of people opt for VPNs for entertainment purposes.
This is because these services enhance the geo-restricting capabilities; as more content is limited, more people will automatically opt for VPNs.
Therefore, for such reasons and even more, the future of the VPN industry is bright, but only because the future of online security and privacy is so uncertain. As the conditions continue to worsen, the VPNs will reach more consumers, and their usage will reach the sky.
Islah Ejaz is a real tech fanatic who has been writing for tech on Reviewsed.com since 2016. His insights in tech are remarkable, as he keeps a close eye on the latest tech innovations & inventions, news, updates, and releases. Binge-watching series and listening to podcasts is what keeps him firm. He is also a gaming enthusiast, and gaming gives him the ultimate pleasure.