Cloud VPN Market - Industry Analysis, Market Size, Share, Trends,Application Analysis, Growth and Forecast 2020 - 2025

 Overview

Cloud VPN Market size is forecast to reach $18.5 billion by 2025, after growing at a CAGR of 17.9% during 2020-2025. The increasing digitization trends in organizations is leading to an enormous shift towards cloud-based network which further increases the importance of cloud VPN services. Moreover, the growing business trends towards bring your own device (BYOD) for assuring mobility of the operations and employees to be more satisfied while working on their own device is further embracing the VPN infrastructure. This rising trends are leading to the deployment of enterprise mobility for companies and business process which is creating the need for data security that leads to provide opportunities for the cloud VPN market during the forecast period.

Report Coverage

The report: “Cloud VPN Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Cloud VPN Market 

Key Takeaways

  • The cloud VPN industry is significantly dominated by North America owing to increasing emphasize of e-commerce industry and the rising spending’s in the IT sector.
  • The growing use of VPN software for improving security and to decrease the vulnerability of cyber-attacks are fueling the growth of the cloud VPN market.
  • Growing developments in the SME and the rising digitalization trends in the business processes, and the increasing requirement for advanced security solutions is also driving the cloud VPN market.
  • However, the lack of technical knowledge among the employees is further hampering the cloud VPN market.  

Type of Component - Segment Analysis

The software segment holds the largest share in the cloud VPN market in 2019.  The virtual private network (VPN) software, allows the user to choose an independent internet protocol (IP). The use of VPN software also allows in unblocking websites, bypassing restrictions and local blackouts and also helps in streaming live events which drives the need for cloud VPN technology. The VPN software also improves the scalability and network security that leads to the rising need for software for securing remote access. Therefore, the growing adoption of private clouds is enhancing the VPN software segment is further creating opportunities for the cloud VPN market.

Additionally, the increasing digitization trends for business process is leading to the vulnerability of cyber-attacks causing effect to the certain amount of data, which is hindering the whole digitization process. This increasing need for security solutions and services in business processes is leading to the surge in the demand for cloud-based security which is requiring the need for cloud VPN services. In addition, the evolution of technology are allowing solutions to be delivered as services such as Software as a Service (SaaS), Platform as a Service (PaaS), and Data as a Service (DaaS). This emerging advancement in the delivering of services is accelerating the cloud VPN market.

End-user - Segment Analysis

The IT & Telecommunication sector holds the largest market share for cloud VPN market and is growing at a CAGR of 13.2% during the forecast period. The globally increasing IT spending towards the enterprise software and communication services has enhanced the need for cloud VPN solutions. Moreover, the growing use of power devices such as phones, PCs and so on are leading to the need for flexible VPN technology. The advanced VPN technology with the software-defined WAN (SD-WAN) features that offers sophisticated network intelligence and granular reporting is also driving the cloud VPN market. In addition, the growing adoption of cloud services in virtual applications is also the major factor that is anticipating the growth of the cloud VPN market.

Additionally, in telecom sector the rising awareness of cloud VPN benefits such as the need for encrypted network traffic, distributed global IP addresses, deployable private servers, manage network activity, and its ability to conduct geo-targeting, and quality assurance are further propelling the growth of cloud VPN market.

Geography - Segment Analysis

North America dominates the cloud VPN market with a share of more than 31%, followed by APAC and Europe. The rising demand for the analytics platform and the rise of machine-to-machine communication (M2M) has also opened doors for cloud solutions in this region. Also, according to Gartner, the IT spending in North America is forecasted to grow 3.7% in 2019 which will lead to further dominate the cloud VPN solutions market in this region. Moreover, the growth of e-commerce industry in Canada and the U.S is also propelling the demand for big data solutions which is driving the cloud VPN market in North America. According to Statistics Canada, the retail sales through e-commerce for the first two months of 2019 was accounted to be $2.2 million. Thus, the increasing sales through e-commerce has raised the need for cloud VPN technology in order to mitigate the problems such as cybercrime, KRACK attacks, MitM Attacks and so on. This factors will further provide growing opportunities for cloud VPN market in North America.

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Location: United States

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