Cloud VPN Market is estimated to grow at a CAGR of 22% by Forecast to 2023
The global cloud VPN market is projected to witness a rapid growth during the forecast period owing to increasing demand for cloud VPN services. Moreover, increasing shift towards virtual applications and surge in demand for cloud-based services are other major factors driving the growth of the global cloud VPN market.
The global cloud VPN market by geography is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The North America market is expected to witness significant growth and hold the largest share of the global market during the forecast period. The U.S and Canada are anticipated to drive the growth of the cloud VPN market in North America region. This is owing to the presence of large number of established key players such as Cisco Systems, Inc., Microsoft Corporation, Google, Inc., Oracle Corporation, Contemporary Controls Systems, Inc., and Cohesive Networks among others in this region. Due to sustainable and well-established economies in the region, the market is likely to show immense growth in the coming future. Additionally, North America also has a well-established infrastructure, which allows a higher penetration of devices and ultimately provides better connectivity. The growth of the market is also attributed to increasing focus on business organizations towards better management of business processes and growing dependency of enterprises on cloud-based applications. In the global cloud VPN market, Asia Pacific is anticipated to witness a relatively faster adoption at the highest CAGR during the forecast period as compared to other regions owing to increasing demand for cloud VPN services across different industry verticals such as BFSI, healthcare, manufacturing among others across different countries in the region. Also, increasing number of data center developments in the region is also expected to be another factor responsible for driving the market growth in the region.
The global Cloud VPN Market is projected to reach USD 11 billion at a CAGR of over 22% by the end of the forecast period 2017-2023.
Major Key Players:
- Cisco Systems, Inc. (U.S.)
- Microsoft Corporation (U.S.)
- Google, Inc. (U.S.)
- NCP Engineering (Germany)
- Huawei Technologies Co., Ltd. (China)
- Robustel (China)
- Oracle Corporation (U.S.)
- Contemporary Controls Systems, Inc. (U.S.)
- Virtela (U.S.)
- Singapore Telecommunications Limited (Singapore)
- Cohesive Networks (U.S.)
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The global cloud VPN market is studied in Asia Pacific, North America, Europe, and Rest of the World. North America is estimated to account for the largest share of the market, whereas Asia Pacific is projected to grow at the fastest rate during the forecast period.
The growth of the market in North America is attributed to technological advancements and increased adoption of cloud VPN applications across various industry verticals such as BFSI, healthcare, manufacturing and IT and telecommunication among others.
Cloud VPN Market Segmentation:
The global cloud VPN market is segmented on the basis of the component, connectivity, organization size, and vertical. The component segment is classified into software and services. However, the services sub-segment is expected to grow at the highest rate during the forecast period.
This is owing to the increasing number of cloud VPN solution providers majorly focusing on support and maintenance services as these services are very crucial and required at each phase of implementation.
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- Technology Investors
- Research/Consultancy Firms
- Government Bodies
- Consulting Service Providers
- Technology Providers
- System Integrators
- Software Vendors
- Service Providers
- Cloud Platform Providers
- Mobile Application Developers
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