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Cloud VPN Market by Component, Connectivity Type, Organization Size, End User, and Region - Global Forecast to 2022
Cloud VPN Market by Component (Software and Services), Connectivity Type (Site-to-Site and Remote Access), Organization Size (Large Enterprises and SMEs), End User (Service Providers and Verticals), and Region - Global Forecast to 2022
“Growing data security concerns are driving the cloud VPN market”
The global cloud VPN market is expected to grow from USD 3.25 billion in 2017 to USD 8.78 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 22.0% from 2017 to 2022. The major factors driving the growth of the cloud VPN are the rising trends for virtual appliances, surge in cloud-based services, and growth in data security concerns. However, limited technical knowledge and lack of expertise in virtualization may restrain the growth of cloud VPN market.
“The cloud VPN services segment is projected to grow at the highest rate in the cloud VPN market during the forecast period”
The cloud VPN services segment is the fastest growing market segment that driving the overall cloud VPN market during the forecast period, as many solution providers are focusing on support and maintenance services as these are needed in each phase of the process after implementation.
“Remote access cloud VPN by connectivity type is expected to hold the largest market share in the cloud VPN market during the forecast period”
The remote access cloud VPN is expected to hold the largest market share during the forecast period. This is due to the high adoption rate of mobile devices and Bring Your Own Device (BYOD) trends among organizations. In the organization size segmentation, the SMEs segment is expected to grow at a higher CAGR, due to the large-scale adoption of cloud VPN solutions and cost-effectiveness and centralized management capabilities during the forecast period.
“APAC is expected to grow at the highest rate during the forecast period”
APAC is expected to grow at the highest CAGR during the forecast period, as the region has the presence of creditable organizations that are gradually enabling the embracement of advance technologies. The high number of data center developments in the region is also expected to offer opportunities for the growth of the cloud VPN market. North America is expected to hold the largest market share in the cloud VPN market during the forecast period.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. The breakup of profiles of primary participants is given below:
• By Company: Tier 1: 27%, Tier 2: 31%, and Tier 3: 42%
• By Designation: C level: 35%, Director level: 40%, and Others: 25%
• By Region: North America: 42%, Europe :34%, and APAC: 24%
The various key vendors profiled in the report are as follows:
1. Cisco Systems (US)
2. Huawei (China)
5. Oracle (US)
6. NCP engineering(Germany)
7. Array Networks
8. Robustel (China)
9. Singtel (Singapore)
10. Cohesive Networks (US)
11. Virtela (US)
12. Contemporary Controls (US)
The cloud VPN has been segmented on the basis of component, connectivity type, organization size, end user, and region. A detailed analysis of key industry players has been done to provide key insights into their business overview, products and services, key strategies, new product launches, partnerships, agreements, collaborations, expansions, and competitive landscape associated with the cloud VPN market.
Reasons to Buy the Report
The report will help the market leaders/new entrants in this market in the following ways:
• This report segments the cloud VPN market comprehensively and provides the closest approximations of the revenue numbers for the overall market and subsegments across different regions.
• The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
• This report will help stakeholders to better understand competitors and gain more insights to improve their position in the business. The competitive landscape section includes competitive ecosystem, new product developments, partnerships, and mergers and acquisitions.