Major factors driving the growth of cloud VPN market is the increasing shift towards virtualization and growing dependence of enterprises on web-based solutions and services. Also growing data security concerns is expected to drive the growth of global cloud VPN market.
Cisco Systems, Inc., Microsoft Corporation, Google, Inc., NCP Engineering, Huawei Technologies Co., Ltd., Robustel, and Oracle Corporation are a few major players in the global cloud VPN market. Increasing adoption of cloud VPN solutions in IT and telecommunication industry vertical is fuelling the market growth. Increasing popularity of bringing your device and growing adoption of mobile devices is one major factor responsible for fuelling the market growth. Also, growing demand for secure remote access is another factor driving the growth of global cloud VPN market.
in the connectivity segment, remote access connectivity is expected to hold the largest market share of the global cloud VPN market. This is owing to the growing popularity of bring your device and increasing adoption of mobile devices across organizations. Whereas, by organization size, the SMEs sub-segment is expected to grow at the highest rate during the forecast period. This is due to the centralized management capabilities and cost-effectiveness offered by cloud VPN solutions, owing to which they are increasingly being deployed by SMEs across different industry verticals.
North America holds the largest share of the market across the globe followed by Europe and Asia Pacific region. The U.S. and Canada are dominating the North America market due to rising technological enhancements and growing adoption of cloud VPN solutions in the region. Moreover, the region has a well-established infrastructure, which allows faster implementation of advanced technologies. Additionally, the growing adoption of cloud VPN solutions across different industry verticals such as BFSI, healthcare, manufacturing among others is another factor responsible for driving the growth of the cloud VPN market 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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