Cloud Virtual Private Network (VPN) Market By Type (Remote Access and Site-to-Site), By Deployment (Public, Private, and Hybrid), By Organizational Size (Small & Medium-Sized Enterprises (SMEs) and Large Enterprises), By End-Use Industry (Transportation & Logistics; Banking, Financial Services & Insurance (BFSI); IT & Telecommunications; Retail & E-Commerce; Energy & Utilities; Manufacturing; Government & Defense; Medical & Life Sciences; and Media & Entertainment) – Analysis & Forecast 2020-2030
Report ID : 390 | Published Date : Aug 2020 | Pages : 150 | Region : Global | Report Code : ICT-40
Cloud Virtual Private Network (VPN) Market Overview and Introduction
A cloud VPN is also termed as VPNaaS (Virtual Private Network as a Service) or hosted VPN. Cloud VPN enables peer networks to connect with a virtual private cloud network with the help of an IPsec VPN connection. All data traveling between these networks is encrypted and decrypted by respective VPN gateways. There are two types of VNP – remote access (connects a device outside the corporate office) and site-to-site (connects the corporate office to branch offices over the internet). For instance, Cisco Systems, Inc. offers both types of cloud VPN services.
Cloud VPN has various advantages, including the elimination of the need to invest in hardware, software, & in-house experts; fast realization of a remote access project; low monthly expenses; high usability; support of all common operating systems; and device security through an integrated personal firewall in VPN client, among others. These advantages have been driving the market growth across the globe. Additionally, the growing demand for secure networks owing to the increasing penetration of smart devices is propelling the market growth. Moreover, the decreasing prices of cloud-based services and the growing demand for secure remote access are among factors that have been supplementing the market growth.
However, the high costs associated with cloud VPN and the lack of awareness regarding its benefits in certain geographical areas, including the Middle East & Africa, are hampering the market growth. Also, the lack of technical knowledge & expertise in virtualization is limiting the market growth during the forecast period.
The global Cloud Virtual Private Network (VPN) market can be segmented into type, deployment, organizational size, end-use industry, and region.
Cloud Virtual Private Network (VPN) Market By Type
Based on type, the market is segmented into remote access and site-to-site. The remote access segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to an upsurge in need for a remote access VPN due to the high number of smart device users. Additionally, remote access VPN has various advantages including remote access to information anytime, access to blocked websites, and affordability for business, and others. These advantages are likely to fuel the growth of this segment.
Cloud Virtual Private Network (VPN) Market By Deployment
Based on deployment, the market can be segmented into public, private, and hybrid. The public segment accounted for the largest market share in 2019 followed by hybrid deployments. However, the private segment is expected to grow at the highest CAGR during the forecast period owing to the rising security & privacy concerns.
Cloud Virtual Private Network (VPN) Market By Organizational Size
Based on organizational size, the market can be segmented into Small & Medium-sized Enterprises (SMEs) and large enterprises. The large enterprises segment accounted for the largest market share in 2019 and is expected to continue its dominance during the forecast period. However, the small & medium-sized enterprises segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the decreasing prices of cloud-based services and rising awareness among startups.
Cloud Virtual Private Network (VPN) Market By Region
Based on region, the global Cloud Virtual Private Network (VPN) market can be segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). North America held the largest market in 2019 and expected to continue its dominance for the next few years followed by Europe. However, the Asia Pacific region will grow at the highest CAGR during the forecast period owing to the increasing adoption of cloud-based services in various end-use industries. Also, the presence of high potential countries, such as China, South Korea, Japan, and India, is expected to create new opportunities in the operating market for this region.
Cloud Virtual Private Network (VPN) Market Prominent Players
Some of the prominent players in the Cloud Virtual Private Network (VPN) market include Amazon Web Services, Inc., Array Networks, Inc., Cisco Systems, Inc., Cohesive Networks, Google LLC, Huawei Services (Hong Kong) Co., Limited., Microsoft Corporation, NCP engineering GmbH, Oracle, and Robustel, among others.