According to a new market research report ”Cloud VPN Market by Component (Software andServices), Connectivity Type (Site-to-Site and Remote Access), OrganizationSize (Large Enterprises and SMEs), End User (Service Providers and Verticals),and Region - Global Forecast to 2022", published byMarketsandMarkets™, The cloud VPN market size is expected to grow from USD 3.25Billion in 2017 to USD 8.78 Billion by 2022, at a Compound Annual Growth Rate(CAGR) of 22.0%.
The growing adoption of it is seen through a high demand forvirtual appliances or technologies in the field of networking, applicationdelivery, and security products. Also, an increasing demand for cloud-basedsolutions is expected to drive the cloud VPN market over the next 5 years.
Browse 63 Market Data Tables and32 Figures spread through 111 Pages and in-depth TOC on "Cloud VPN Market by Component (Software andServices), Connectivity Type (Site-to-Site and Remote Access), OrganizationSize (Large Enterprises and SMEs), End User (Service Providers and Verticals),and Region - Global Forecast to 2022"
Major Key Players
Key players in the cloud VPNmarket include Cisco Systems (US), Microsoft (US), Google (US), NCP engineering(Germany), Huawei (China), Robustel (China), Oracle (US), Contemporary Controls(US), Virtela (US), Singtel (Singapore), and Cohesive Networks (US).
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In thecurrent scenario of technology adoption, significant growth in the demand forvirtual appliances or technologies is witnessed in the field of networking,application delivery, and security products. The demand for virtualization isowing to its greater agility, faster service deployment, increased efficiency,lower Capital Expenditure (CAPEX)/Operational Expenditure (OPEX), etc. As theentire world is moving toward virtualization, enterprises are eagerly adoptingprivate and public cloud services, thereby fueling the demand for networkresource sharing. Enterprises now want the ability to access infrastructure,applications, and other IT resources on-demand, thus fundamentally paving thepath for a virtual resource-sharing environment. Growing use of public cloudand managed services has resulted in increasing data security concerns.Security can act as a stringent factor while sharing vital resources orinformation, over the cloud, through a VPN.
In theservices, the support and maintenance services segment is expected to have alarger market share than integration and training and consulting. As in cloudVPN, there is a greater focus on maintaining and transforming business-criticalapplications seamlessly, so that the cloud VPN companies can meet theirever-changing demands of the market, hence fueling the demand for these services.
The remoteaccess connectivity type enables an individual user, located remotely, toconnect to the enterprise network using personal devices, such as laptops,smartphones, or tablets. The remote access connectivity type is deployed on thecloud infrastructure and can easily be optimized and managed on the clouditself. This is estimated to make remote access connectivity to gain tractionin 2017 as well as carry a high growth rate during 2017–2022. The higheradoption of mobile devices and BYOD trend by organizations enhances the marketfor the remote access connectivity type. as NCP engineering and Virtela offerremote access connectivity.
Asia Pacific(APAC) is expected to grow at the highest CAGR from 2017 to 2022 in the global cloudVPN market. With the evolution of digital transformation in APAC, there is anincreasing need for managed IT services. Furthermore, rapid economic growth inthe developing APAC countries, along with the improving regulatory reforms andeconomic stability is driving the growth of the cloud VPN market in thisregion. Small and Medium-sized Enterprises (SMEs), as well as large enterprisesin this region, belonging to a range of verticals, such as BFSI, government,healthcare, manufacturing, education, and automotive are expected to increasetheir investments in the cloud VPN solutions.
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