Cloud VPN Market Highlights:
The global cloud VPN market is projected to witness a rapid growth during the forecast period owing to increasing demand for cloud VPN services. Moreover, increasing shift towards virtual applications and surge in demand for cloud-based services are other major factors driving the growth of the global cloud VPN market.
The global cloud VPN market by geography is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The North America market is expected to witness significant growth and hold the largest share of the global market during the forecast period. The U.S and Canada are anticipated to drive the growth of the cloud VPN market in North America region. This is owing to the presence of large number of established key players such as Cisco Systems, Inc., Microsoft Corporation, Google, Inc., Oracle Corporation, Contemporary Controls Systems, Inc., and Cohesive Networks among others in this region. Due to sustainable and well-established economies in the region, the market is likely to show immense growth in the coming future. Additionally, North America also has a well-established infrastructure, which allows a higher penetration of devices and ultimately provides better connectivity.
The growth of the market is also attributed to increasing focus on business organizations towards better management of business processes and growing dependency of enterprises on cloud-based applications. In the global cloud vpn inc, Asia Pacific is anticipated to witness a relatively faster adoption at the highest CAGR during the forecast period as compared to other regions owing to increasing demand for cloud VPN services across different industry verticals such as BFSI, healthcare, manufacturing among others across different countries in the region. Also, increasing number of data center developments in the region is also expected to be another factor responsible for driving the market growth in the region.
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Cloud VPN Market Competitive Landscape:
Microsoft Corporation (U.S.), NCP Engineering (Germany), Robustel (China), Contemporary Controls Systems, Inc. (U.S.), Singapore Telecommunications Limited (Singapore), Cisco Systems, Inc. (U.S.), Oracle Corporation (U.S.), Cohesive Networks (U.S.), Huawei Technologies Co., Ltd. (China), Google, Inc. (U.S.) and Virtela (U.S.) are some of the top-notch market participants covered in MRFR’s analysis.
Cloud VPN Market Segmental Analysis:
A detailed segmental analysis has been offered in MRFR report, which is based on component, connectivity, vertical and organization size. By component, the market has been segmented into service and software. The service segment is further sub-segmented into training and consulting, support & maintenance and integration. On the basis of connectivity, the market has been segmented into site-to-site and remote access. Of these, the remote access segment is expected to retain it top position over 2023. On the basis of vertical, the market has been segmented into government, IT & telecommunication, healthcare, retail, manufacturing, BFSI and others. On the basis of organization size, the market has been segmented into large enterprises and SMEs.
The SMEs segment is expected to witness a strong growth during the forecast period. Small and medium sized enterprises are moving towards centralized management capabilities and cloud VPN solutions owing to cost benefits and higher efficiency of such solutions. The SMEs segment is expected to out perform the large enterprises segment during the projection period.
Cloud VPN Market Regional Analysis:
MRFR’s report includes a comprehensive regional analysis, which covers Asia Pacific (APAC), Europe, North America, Latin America, and the Middle East & Africa (MEA). North America accounts for significant share of the market in terms of revenue. In North America, the U.S. and Canada present attractive opportunities to market players.
These countries are witnessing rapid adoption of cloud VPN solutions. Moreover, presence of advanced infrastructure is allowing a faster implementation of such technologies. Cloud VPN solutions are witnessing widespread popularity in industry verticals such as IT and telecommunication, healthcare, BFSI, manufacturing among others. Such factors are expected to support the market growth in North America throughout the assessment period. Apart from North America, Europe and Asia Pacific is also expected to remain important investment destinations over 2023.
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• Tech giant Google has reportedly introduced a cloud health API, which the company believes will help the healthcare sector leverage machine learning on healthcare data sets. Google has recently released a beta version of the API integrated with various google cloud platforms.
• ADAR, Inc., a specialist in SDN and Cloud Networking has recently unveiled a unique Cloud Version of its Direct Connection(s) Multi Cloud Management Platform. This unique cloud-ready platform comprises ADARA's SD WAN Proxies, ADARA's Intent Based SD WAN Routers and ADARA's Direct Connection(s) Multi Cloud Management Platform.
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