Cloud VPN Market Revenue, Major Players, Consumer Trends, Analysis & Forecast – IndustryARC


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Cloud VPN Market Drivers Rise of Small & Medium-Sized Enterprises (SMEs)

HYDERABAD, TELANGANA, INDIA, January 23, 2023 /EINPresswire.com/ — IndustryARC, in its latest report, predicts that 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. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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Key takeaways:

1. 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.

2. 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.

3. 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.

4. However, the lack of technical knowledge among the employees is further hampering the cloud VPN market.

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Segmental Analysis:

1. 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).

2. 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.

3. 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.

4. 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.

5. 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.

Competitive Landscape:

The top 5 players in the Cloud VPN industry are –

1. Array Networks

2. Cisco Systems, Inc.

3. Cohesive Networks LLC.

4. Contemporary Control Systems, Inc.

5. Google Inc.

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Related Reports:

A. Virtual Private LAN Service Market

B. SSL VPN Market

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