Global Cloud VPN Market (By Component (Software, and Services)-By Connectivity Type (Site-to-Site, and Remote Access)-By Organization Size (Large Enterprises, and SMEs)-By End User (Service Providers, and Verticals) –by Geography (North America, Europe, Asia Pacific, Middle East & Africa and Latin America)) – is expected to reach US$ 13.38 Bn by 2024 from US$ 2.64 Bn in 2016 at CAGR of 22.5%.
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. Major factors driving the growth of cloud VPN market is the rise in a shift towards virtualization and growing dependence of enterprises on web-based solutions and services. Also growing data security concerns is anticipated to drive the growth of cloud VPN market. Increasing Shift toward Virtual Appliances is trending the overall Cloud VPN Market. However, Lack of Governance and Standardization will restrain the market growth.
The remote access segment is anticipated to hold the largest shares of the market during the forecast period
In terms of connectivity type, the remote access segment is anticipated to hold the largest shares of the market during the forecast period. The growth of this segment is attributed to the high adoption rate of mobile devices and Bring Your Own Device (BYOD) trends by organizations.
The verticals segment is anticipated to grow at the highest rate during the forecast period
In terms of end-user market, the verticals segment is anticipated to grow at the highest rate during the forecast period. This is due to the preference to purchase the cloud VPN solutions and services directly from software vendors without relying on third-party service vendors.
North America is anticipated to hold the largest market share in the cloud VPN market during the forecast period
In terms of region, North America is anticipated to hold the largest market share in the cloud VPN market during the forecast period. This is due to the presence of many business enterprises seeking for a secure mode of communication present on the cloud. Asia-specific is estimated to grow at a highest CAGR during the forecast period, as the region has the presence of credible organizations that are gradually enabling the adoption of advanced technologies.
This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading manufacturers such as Cisco Systems, Inc., Microsoft Corporation, Google, Inc., NCP Engineering, Huawei Technologies Co., Ltd., Robustel, and Oracle Corporation.
Maximize market research, a global market research firm with dedicated team of specialists and data has carried out extensive research about the Cloud VPN market. Report encompasses the market by different segments and region, providing the in-depth analysis of overall industry ecosystem, useful for taking informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Cloud VPN market. The driving forces as well as considerable restraints have been explained in depth. In addition to this, competitive landscape describing about the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Cloud VPN market positioning of competitors.
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