Overview and Scope
A cloud virtual private network (VPN) is a secure and encrypted connection established over the internet between a user’s device and a network hosted in the cloud. It is a crucial tool for ensuring data security, privacy, and seamless connectivity between users and cloud-based networks in various scenarios, such as remote work setups or interconnecting multiple office locations securely.
Sizing and Forecast
The cloud virtual private network market size has grown exponentially in recent years. It will grow from $9.48 billion in 2023 to $11.70 billion in 2024 at a compound annual growth rate (CAGR) of 23.3%. The growth in the historic period can be attributed to globalization of businesses, improving user experience, need for faster connection speeds, demand for enhanced customer support services, growing awareness about cyber threats, demand for secure access control.
The cloud virtual private network market size is expected to see exponential growth in the next few years. It will grow to $26.42 billion in 2028 at a compound annual growth rate (CAGR) of 22.6%. The growth in the forecast period can be attributed to growing adoption of cloud services, cost-effectiveness of VPN solutions, migration of business operations to the cloud, need for secure and reliable connectivity through VPNs, integration of VPN services. Major trends in the forecast period include advancements in VPN technologies, need for improved encryption protocols, innovative authentication methods, rising need for data privacy and confidentiality, technology firms are fostering innovation.
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Segmentation & Regional Insights
The cloud virtual private network market covered in this report is segmented –
1) By Type: Remote Access Virtual Private Network, Site-To-Site Virtual Private Network
2) By Product Type: Software, Services
3) By Enterprise Size: Small And Medium Enterprise, Large Enterprise
4) By End-User Industries: Government And Public Utilities, Information Technology And Telecommunication, Banking, Financial Services And Insurance (BFSI), Healthcare, Retail, Manufacturing, Other End-User Industries
North America was the largest region in the cloud virtual private network market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud virtual private network market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising adoption of work-from-home is expected to propel the growth of the cloud virtual private network market going forward. Work-from-home refers to employment situations where employees are not required to work in a traditional office setting. The demand for remote work arrangements is driven by the desire for flexibility, increased productivity, reduced commuting stress, and the ability to achieve a better work-life balance. The shift towards remote work arrangements necessitates using cloud-based virtual private networks (VPNs) to securely connect employees to company networks and resources from any location, ensuring data privacy and facilitating seamless collaboration. For instance, according to a February 2022 study published by AT&T, a US-based telecommunications company, the percentage of companies adopting a hybrid model of work where workers will do both remote work and work from the office is projected to increase from 42% in 2021 to 81% in 2024. Therefore, the rising adoption of work-from-home is driving the growth of the cloud virtual private network market.
Key Industry Players
Major companies operating in the cloud virtual private network market are Huawei Technologies Co. Ltd., Amazon Web Services, Tencent Holdings Limited, Microsoft Azure, Panasonic Corporation, Intel Corporation, International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, SAP SE, Toshiba Corporation, Google Cloud, NEC Corporation, Samsung Electronics Co. Ltd., VMware Inc., Singapore Telecommunications Limited, ServiceNow Inc., Palo Alto Networks Inc., OpenText Corporation, Array Networks Inc., Lumen Technologies Inc., Surfshark , SoftEther VPN, Contemporary Control Systems Inc., Cohesive Networks LLC, Robustel, SonicWall
The cloud virtual private network market report table of contents includes:
- Executive Summary
- Cloud Virtual Private Network Market Characteristics
- Cloud Virtual Private Network Market Trends And Strategies
- Cloud Virtual Private Network Market – Macro Economic Scenario
- Global Cloud Virtual Private Network Market Size and Growth
- Cloud Virtual Private Network Market Segmentation
- Cloud Virtual Private Network Market Regional And Country Analysis
…………….
- Key Mergers And Acquisitions In The Cloud Virtual Private Network Market
- Cloud Virtual Private Network Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Cloud Virtual Private Network Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Cloud Virtual Private Network Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Cloud Virtual Private Network Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
……….
Table 75: Huawei Technologies Co. Ltd. Financial Performance
Table 76: Amazon Web Services Financial Performance
Table 77: Tencent Holdings Limited Financial Performance
Table 78: Microsoft Azure Financial Performance
Table 79: Panasonic Corporation Financial Performance
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