Cloud VPN market is estimated to exhibit high growth potential during the forecast period owing to increasing demand for cloud VPN solutions and services across various industry verticals. Additionally, innovations and advancements in technology and increasing market for cloud VPN solutions and services owing to the growing adoption of mobile devices and increasing popularity of bringing your own device is adding fuel to the growth of the cloud VPN market.
The company focusses on providing innovative solutions and keeps up with the fast pace of the technological advancements. The increasing push towards the use of cloud VPN solutions across different industry verticals is one major factor driving the growth of cloud VPN market. Due to the convenience provided to the users with the adoption of cloud VPN solutions, the growth of the global cloud VPN market is anticipated.
The global Cloud VPN Market is segmented by component, connectivity, organization size, and vertical. The vertical segment is classified into BFSI, healthcare, manufacturing, IT & telecommunication, retail, government, and others. However, the IT & telecommunication sub-segment is expected to hold a major share of the global cloud VPN market, whereas the government sub-segment is expected to grow at the highest rate during the forecast period. This is owing to the increasing dependency of business operations in IT and telecommunication sector on web applications and growing demand for establishing secure connections in order to protect loss of data. However, the lack of expertise in virtualization and lack of governance and standardization are major factors that could cause hindrance in the growth of global cloud VPN market. Also, increasing concerns regarding data loss and data protection issues are other major factors which may hamper the market growth.
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.
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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.)
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.
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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.
- Technology Investors
- Research/Consultancy Firms
- Government Bodies
- Consulting Service Providers
- Technology Providers
- System Integrators
- Software Vendors
- Service Providers
- Cloud Platform Providers
- Mobile Application Developers
Table of Contents
1 Executive Summary
2 The Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
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List of Tables
Table 1 Global Cloud VPN Market: By Region, 2017-2023
Table 2 North America Cloud VPN Market: By Country, 2017-2023
Table 3 Europe Cloud VPN Market: By Country, 2017-2023
List of Figures
Figure 1 Global Cloud VPN Market Segmentation
Figure 2 Forecast Methodology
Figure 3 Five Forces Analysis of Global Cloud VPN Market
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