Cloud VPN Market Highlights:
Growing application in the telecommunication and IT sector has provided an impetus to the global market for cloud VPN. As per the latest report published by Market Research Future (MRFR), the global market for cloud VPN will capture an impressive CAGR of 22% during the forecast period (2017-2023). Growing trend of bring-your-device to work coupled with the increasing internet penetration is creating growth opportunities for cloud VPN service providers.
Moreover, advances in cloud VPN has made remote access networks more secure and robust. Players operating in the global market for Cloud VPN Market is expected to find growth opportunities from increasing reliance of enterprises on cloud services and solutions. Over the years, incidences of data theft and cybercrimes have increased significantly, which is also influencing the global market for cloud VPN.
Global Market for Cloud VPN Competitive Landscape:
Google, Inc. (U.S.), Huawei Technologies Co., Ltd. (China), Oracle Corporation (U.S.), Virtela (U.S.), Cohesive Networks (U.S.), Microsoft Corporation (U.S.), NCP Engineering (Germany), Robustel (China), Singapore Telecommunications Limited (Singapore), Cisco Systems, Inc. (U.S.), and Contemporary Controls Systems, Inc. (U.S.) among the top companies operating in the global market for cloud VPN. Many of these companies are implementing collaboration and partnership strategies in order to improve their service portfolio.
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Latest Industry Trends and News:
- · NCP engineering has recently announced that the company is entering into a partnership programs with Juniper Networks to develop secure and comprehensive VPN remote access solutions. Also, Juniper Networks® SRX Series firewalls and Juniper Networks’ VPN will now be compatible with NCP’s Exclusive Remote Access Clients. This will allow the companies to support a wide range of endpoint devices such as Mac computers, Windows systems and android phones among others.
- · The U.S based technology giant oracle has recently unveiled its autonomous data warehouse cloud on a global scale.
Global Market for Cloud VPN Segmental Analysis:
On the basis of component, the global market for cloud VPN has been segmented into services and software. The services segment has three sub-segments training & consulting, integration and support & maintenance. On the basis of connectivity, the market has been segmented into site-to-site and remote access. The remote access connectivity segment is expected to retain its dominant position over the forecast period.
By organization size, the market is segmented into large enterprises and SMEs. By vertical, the market is segmented into healthcare, IT & telecommunication, manufacturing, BFSI, government, retail and others. Amongst these, the SMEs sub-segment is likely to witness a healthy growth in the coming years. This segment is also projected to exhibit the fastest CAGR during the assessment period. This is primarily owing to cost benefits and centralized management service offer by cloud VPN systems.
On the basis of region, the global market for cloud VPN has segmented into Europe, North America, Asia Pacific and Rest of the world. North America is projected to capture the highest market share during the assessment period. Factor such as advances in technology and rapid deployment of cloud VPN systems across various industries such as healthcare, manufacturing, telecommunication and BFSI is supporting the growth of the market in the region.
The US is expected to remain the most important market for cloud VPN in the region. In addition, presence of leading-edge internet infrastructure and favourable policies is also creating growth opportunities for market players in the region. North America is followed by Europe and Asia Pacific (APAC) respectively. Europe currently accounts for a significant share of the global market and the trend is likely to continue beyond 2018. Meanwhile, the market is Asia Pacific is likely to witness a relatively faster growth over 2023.
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Table of Contents
1 Market Introduction
1.2 Scope of Study
1.2.1 Research Objective
1.3 Market Structure:
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