A $23.6 Billion Industry
VPNs provide crucial benefits to users. They are designed to create a secure connection between the VPN user and the internet. It’s a perfect solution to many online privacy problems, making it more and more popular among business and private users. Consequently, the size of the virtual private network market worldwide is growing. From $15 billion worldwide in 2016 to an expected $23.6 billion in 2019. In 2022, the global VPN market is forecast to reach almost $36 US billion. The lack of transparency and industry standards in a market this size is nothing short of astonishing. For every trusted VPN service provider, there is an equal number of companies that don’t adhere to the same standards. This makes it difficult for consumers to make an informed choice.
What is the VTI?
The VPN Trust Initiative is an industry-led and member-driven consortium of leading VPN service providers. The idea behind the collaboration is that together, they can improve the industry and better inform consumers. The aim is to establish a baseline of technological and operational best practices that VPN providers should abide by. This would bring some form of regulatory alignment across the industry. It would also increase the level of trust in VPN providers. The VTI will be reaching out to three key groups: technologists, legislators and the general public. The initiative was initiated by the i2 Coalition (Internet Infrastructure Coalition), an industry body that wants to insure that those who build the infrastructure of the Internet have a voice in global public policy.
Who are the Members?
The founding members of the VPN Trust Initiative include five leading VPN service provides and their associated brands: NordVPN, ExpressVPN, Surfshark, Golden Frog (VyprVPN) and NetProtect (whose VPN brands include IPVanish, encrypt.me, WLVPN, SugarSync, StrongVPN, OverPlay and SaferVPN). These are some of the largest VPN service providers, making the VTI a promising initiative that will hopefully change the industry for the better. Others VPN service providers are expected to join. New members may include PureVPN, ProtonVPN, CyberGhost, and more.
What Does it Mean?
If it succeeds in its mission, the initiative will bring more transparency to the VPN industry and provide solutions to some of the most pressing VPN challenges. “VPNs are a foundational technology for a safer Internet, so it’s important that VPN providers adhere to best practices. However, it’s also important that new legislation doesn’t inadvertently limit the effectiveness of VPNs”, says Christian Dawson, Co-Founder of the i2Coalition. “This initiative offers a vital and unique opportunity for the industry to come together as a collective and spearhead real awareness, education, and progress. In doing so, we not only position our members as stewards of the Internet…, we also deliver highly valuable, beneficial, and transformational action as digital security concerns grow and the technological world evolves.”
