Cloud Virtual Private Network (VPN) Market Revenue, Growth Factors, Forecast To 2028
Market Size – USD 3.36 Billion in 2020, Market Growth - CAGR of 22.0% between 2019 and 2026, Market Trends – Increasing inclination towards virtualization and demand for cloud-based solutions and services
The Global Cloud Virtual Private Network (VPN) market is expected to grow from USD 3.36 Billion in 2020 to USD 16.46 Billion by 2028, at a CAGR of 22.0% from 2019 to 2026. The rising adoption of it is seen through an increase in demand for technologies or virtual appliances networking, application delivery, and security products and services.
The rise in the demand for secure remote access and increased acceptance of private clouds are blessing all the stakeholders in the market.
However, the scantiness of governance and standardization, concerns over data security and protection issues are restraining factors that may hamper business critical functions in the market.
Major players in the Cloud VPN market are Array Networks (US), Cisco Systems (US), Huawei (China), Microsoft (US), Virtela (US), Google (US), NCP engineering (Germany), Singtel (Singapore), Robustel (China), Oracle (US), Contemporary Controls (US), Cohesive Networks (US), and others.
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Further key findings from the report suggest
- The Global Cloud Virtual Private Network (VPN) is expected to grow from USD 3.36 Billion in 2020 to USD 16.46 Billion by 2028, at a CAGR of 22.0% from 2019 to 2026. Rise in the demand for cloud-based solutions is expected to drive the cloud VPN market.
- In the cloud VPN integrant type, the remote access cloud VPN is expected to hold the largest market share with a revenue of USD 3.6 Billion in 2026. This is mainly attributed to the increasing acceptance rate of mobile devices and Bring Your Own Device (BYOD) trends among corporates. In the company size segmentation, the SMEs segment is expected to grow at a higher CAGR, due to the large-scale acceptance of cloud VPN systems and cost minimization and amalgamation of management capabilities during the forecast period.
- In the cloud VPN user market, the verticals segment is expected to grow at the highest CAGR of 34.15% during the forecast period due to the inclination to buy the cloud VPN solutions directly from software players without depending on third-party service vendors. In the verticals user segment, the government and public utilities sector is expected to grow at the highest CAGR, whereas the telecom and IT sector is estimated to have the largest market share.
- North America is anticipated to hold the largest market share in the cloud VPN market during the forecast period. Because of the presence of several business organizations looking for an authentic means of communication available on the cloud. The attraction of organizations toward cloud-managed systems has given a push to the market, which is expected to increase further traction in this region during the forecast period.
- APAC is projected to grow at the highest CAGR of 39.71% during the forecast period, as the region has the presence of creditable enterprises that are slowly allowing the adoption of advanced technologies.
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Segments covered in the report:
Global Cloud VPN Market, By Integrant (Revenue, USD Million; 2018–2028)
- Support and Maintenance
- Training and Consulting
Global Cloud VPN Market, By Connectivity Type (Revenue, USD Million; 2018–2028)
- Remote Access
Global Cloud VPN Market, By Company Size (Revenue, USD Million; 2018–2028)
- Large Enterprises
- Small and Medium-Sized Enterprise
Global Cloud VPN Market, By User (Revenue, USD Million; 2018–2028)
- Service Providers
- Telecom and IT
- Government and Public Utilities
- Banking, Financial Services, and Insurance
Global Cloud VPN Market, By Region (Revenue, USD Million; 2018–2028)
- North America
- Latin America
- Middle East & Africa
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Key Advantages of Cloud Virtual Private Network (VPN) Report:
- Identification and analysis of the market size and competition
- Qualitative and quantitative analysis of the market data
- Data validated by industry experts after extensive primary and secondary research
- Extensive regional analysis of the Cloud Virtual Private Network (VPN) industry
- Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
- SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
- Feasibility analysis and investment analysis to enable strategic investment decisions
- Analysis of opportunities, drivers, restraints, challenges, risks, and limitations
Conclusively, all aspects of the Cloud Virtual Private Network (VPN) market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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