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CLOUD VPN MARKET REPORT OVERVIEW
The global cloud VPN market size was USD 3939.3 million in 2019 and will touch USD 9050.5 million by 2026, exhibiting a CAGR of 12.5% during the forecast period.
The secure remote-access for corporate networks which is facilitated by this particular cloud VPN has experienced a huge boom rate as one of the market drivers. Along with other business services that overwhelmingly choose the cloud platforms nowadays to enjoy agility and scalability, cloud VPN solutions have become popular. The growth of remote workforces due to the global pandemic highlighted has been demonstrated with various consequences such as increased reliance on cloud VPNs. Manufacturers are gradually realizing the need of using the utmost latest cloud VPN technologies to allow working online of their company employees from any place while keeping business continuity and data integrity at high level.
On that same note, it is imperative to note that other technological advancements and cyber security are being adopted by the cloud VPN industry. Combined with the development of encryption technologies besides the usage of machine learning and artificial intelligence for threats detection and management, the cloud VPN services become more dependable and friendly for the users as well. Cloud VPN awareness in the business community is spreading as a result of the numerous advantages conferred, for instance, cost saving and scaling, which spur market growth. Hence, the cloud VPN market is projected to develop constantly and fueled by the digital transformation that is happening everywhere and the increasing tendency towards cloud-based solutions.
COVID-19 Impact: Market Growth Boosted by Pandemic due to Increased Demands
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The market growth reflected by the rise in CAGR is attributable to market’s growth and demand continuing to maintain levels similar to pre-pandemic period.
The COVID-19 pandemic quickly embraced VPNs as a result of people starting to working from home. Organizations began to highly value the same secure remote access for their remote teams; therefore, they bought more cloud VPN services than before. As a result, there was more venture capital funding for commercialized cloud computing services and related security solutions to comply with the data regulations mandated by governments. As a result, the role of COVID-19 in the cloud VPN market was predominantly positive; it spurred development and inventions that facilitated business operations under the changed conditions.
LATEST TRENDS
"Zero Trust Security Integration in Cloud VPNs to Reshape the Market"
One of the important trends of cloud VPN market now is the connection it is giving to the Zero Trust security models. This approach, specifically, targets the locations of threats since it may originate from any part of world and thus all the users and their devices are checked while they are trying to access private network no matter where they are. Through the use of the Zero Trust approach, cloud VPN suppliers are improving their security methodologies that guarantee more precise authorization methods for user access and ensure regular authentication. The advent of more complex cyber threats is gradually making the adoption of Zero Trust policies in cloud VPN by businesses a crucial consideration for those which are seeking to protect their online assets yet still offer remote working facilities.
CLOUD VPN MARKET SEGMENTATION
By Type
Based on type the global market can be categorised into Computer Terminal, & Mobile Terminal.
- Computer Terminal: This category encompasses devices such as desktops and laptops. This segment caters to users seeking secure, remote access to their organization's network from stationary or office-based environments, offering robust security measures and comprehensive access controls.
- Mobile Terminal: This category includes smartphones and tablets, catering to the increasing demand for secure, remote access on the go. This segment addresses the needs of a mobile workforce, providing flexibility and secure connectivity for business applications and data, irrespective of the user's location.
By Application
Based on application the global market can be categorised into Large Enterprises, & SMEs.
- Large Enterprises: They typically involve complex network infrastructures and vast arrays of data, necessitating advanced cloud VPN solutions that can support extensive bandwidth requirements and provide high levels of security and scalability. These organizations often operate globally, requiring robust and reliable VPN services to ensure secure, seamless connectivity across multiple locations.
- SMEs: They demand cloud VPN solutions that are cost-effective, easy to deploy, and manage, catering to their relatively smaller scale of operations and more limited IT resources. Cloud VPN services for SMEs focus on providing secure remote access and data protection, enabling these businesses to leverage cloud computing's benefits without the need for significant investment in physical IT infrastructure.
DRIVING FACTORS
"Increased Remote Workforce to Fuel the Market Growth"
It is worth pointing out that the evolution of remote work towards long-term investments is the primary driver of the cloud VPN market growth. The move towards telework, facilitated by a series of global incidents like Covid-19 pandemic, poses a challenge in terms of making corporate networks remotely accessible. The cloud based VPN solution provides the employees want to securely connect to their office resources; the confidential data being is safe to transport over the internet. It has somewhat caused a boom in public cloud networking services as a large number of organizations of all sizes try to maintain the efficiency and security of their operation and data in a decentralized workplace.
"Enhanced Focus on Cybersecurity to Drive Demand in the Market"
Here also, the cloud VPN market grows as a result of new security issues on the Internet. As enterprises are shifting their operations in the cloud, mainly storing their data there too, physical security of access and data security has become indispensable. The Cloud VPN establishes a layer of security by encrypting the data traffic of the user and the cloud system, which is a substantial reduction to the risk of cybersecurity attacks. Such heightened awareness and concern about cybersecurity threats have seen more organizations allocate budget towards cloud VPN services, which now is considered a critical factor in their overall security plan for protecting important details and ensuring compliance with data protection regulations.
RESTRAINING FACTORS
"Complexity and Scalability Challenges to Impede the Market Expansion"
Nevertheless, the deployment and management of the cloud VPN solution at the global level have the complexity and scalability challenges. A cloud VPN architecture must be scalable to support a growing number of users and their ever-changing needs, which requires high-level technical skills. Such concealed complexity ranges from the initial setup to the ongoing management and keeping on adaptation of the VPN to meet changing requirements. Accordingly, the cloud VPN solutions that are simple and scalable become crucial for surmounting these hindrances and setting up the foundation for larger market acceptance.
CLOUD VPN MARKET REGIONAL INSIGHTS
"North America Leads the Market with Advanced Cybersecurity Sector"
The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.
North America is the most dominant in the global cloud VPN market share, predominantly thanks to the region's early and fast implementation of cloud technologies and highly developed cybersecurity features. The existence of the many cloud VPN service providers as well as the large number of business and government sectors having cybersecurity in mind adds to the strength of this domination. Moreover, good IT infrastructure in the region as well as the widespread acceptance of remote work culture make the region a good market for cloud VPN services. These forces, which are also supported by sizable R&D spends on cloud and network security technologies, point North America as the global leader of the VPN cloud market.
KEY INDUSTRY PLAYERS
"Key Industry Players Shaping the Market through Innovation and Market Expansion"
Many of the prominent industry players tend to be the ones that mold the Cloud VPN marketplace. First of all, leading firms are indeed the world's most innovative and market oriented organizations. These providers provide a wide range of cloud VPN solutions that are capable of meeting various business requirements such as scalability, security and ease of use. Their wide product lines and worldwide outreach is a strong factor in market dynamics, affecting trends, strategies of pricing, and technology development. Moreover, as a result of their investment in research and development the technology of cloud VPN evolves, so that organizations can use the continuously improved solutions to protect their data and connectivity.
List of Market Players Profiled
- Cisco Systems (U.S.)
- Huawei (China)
- Microsoft (U.S.)
- Google (U.S.)
- Oracle (U.S.)
- NCP Engineering (Germany)
- Array Networks (U.S.)
INDUSTRIAL DEVELOPMENT
August 2022: One recent innovation in the market is the emergence of Zero Trust Network Access (ZTNA) with cloud VPN solutions. ZTNA is a security framework that eliminates the need for implicit trust by continuously verifying user and device identity before granting access to an organization's network. This approach adds an extra layer of security to cloud VPNs, which traditionally rely on perimeter-based security models.
REPORT COVERAGE
The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.
The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated time frame. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 3939.3 Million in 2019 |
Market Size Value By |
US$ 9050.5 Million by 2026 |
Growth Rate |
CAGR of 12.5% from 2019 to 2026 |
Forecast Period |
2022-2026 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types & Application |
Frequently Asked Questions
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What value is the cloud VPN market expected to touch by 2026?
The cloud VPN market is expected to reach USD 9050.5 million by 2026.
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What CAGR is the cloud VPN market expected to exhibit by 2026?
The cloud VPN market is expected to exhibit a CAGR of 12.5% by 2026.
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Which are the driving factors of the cloud VPN market?
Enhanced Focus on Cybersecurity, and Increased Remote Workforce are some of the driving factors of the cloud VPN market.
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What are the cloud VPN market segments?
The cloud VPN market segmentation that you should be aware of include: Based on type the market is classified as Computer Terminal, & Mobile Terminal. Based on application the market is classified as Large Enterprises, & SMEs.