The global cloud VPN market is anticipated to attain a CAGR of ~22% over the forecast period, i.e., 2022 – 2031. The market is segmented on the basis of connectivity type into site-to-site, and remote access, out of which, the remote access segment is anticipated to hold a substantial share over the forecast period.
This can be accredited to the rising demand for VPN services amongst remotely working employees, backed by the increasing work from home jobs and remote working patterns amongst organizations.
Research Nester published a report titled “Cloud VPN Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers a detailed overview of the global cloud VPN market in terms of market segmentation by component, connectivity type, organization size, end-user, and region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, and supply and demand risk, along with a detailed discussion on current and future market trends that are associated with the growth of the market.
The global cloud VPN market is estimated to grow on the back of increasing adoption of cloud-based services, growing demand for VPNs, and higher penetration of internet services. According to the World Bank Statistics, internet usage amongst the population grew from 56.727% in 2019 to 60% in 2020. Moreover, increasing adoption of cloud computing services across various industry verticals is also projected to boost the market growth. For instance, cloud computing services generated almost USD 400 billion in revenue in 2021.
On the basis of geographical analysis, the global cloud VPN market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the Asia Pacific region is estimated to witness modest growth over the forecast period, owing to the growing proliferation of tech giants in developing nations, along with the growing IT sector in the region. For instance, the IT services industry in the APAC region is projected to reach approximately USD 240 billion by 2022.
The research is global in nature and covers a detailed analysis of the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East and Africa).
In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook, etc. has also been covered and displayed in the research report.
Increasing Remote Work Culture across the World to Propel the Market Growth
Cloud VPN refers to VPN services delivered through a cloud-based network. Remotely accessible services are desired amongst the employees who are working remotely. This is estimated to act as one of the major growth drivers in the market. Moreover, the rising adoption of cloud services is anticipated to fuel market growth.
However, lack of awareness amongst people and availability of alternative technology is expected to operate as a key restraint to the growth of the global cloud VPN market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global cloud VPN market which includes company profiling of Array Networks, Inc., Cisco Systems, Inc., Huawei Technologies Co., Ltd., Singapore Telecommunications Limited, NCP engineering GmbH, Verizon Communications Inc., IBM Corporation, SAP SE, and Microsoft Corporation. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
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On the whole, the report depicts a detailed overview of the global cloud VPN market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.