Kenneth Research published a report titled “Cloud Virtual Private Network (VPN) Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global cloud virtual private network (VPN) market in terms of market segmentation by component, organization type, connectivity type, verticals and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global cloud virtual private network (VPN) market is expected to grow at ~22% CAGR over the forecast period, i.e., 2022-2031. The market is segmented by verticals into IT and telecommunication, healthcare, manufacturing, government, and, others. Out of these, the IT and telecommunication segment is expected to hold the largest share in the global cloud virtual private network (VPN) market over the forecast period. This can be attributed to the requirement of the IT and communication segment for real time analysis for better decision making.
There has been an increase in the organizations’ dependence on web-based solutions and services. Furthermore, web- based solutions and services make the working pattern easier in the organization for the employees. The data can be accessed by the employees anywhere through a cloud VPN without any fear of cyberattacks. This is expected to drive the growth of the global cloud virtual private network (VPN) market.
Geographically, the global cloud virtual private network (VPN) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of them, the market in the Asia Pacific region is estimated to witness noteworthy growth owing to the rise in digitalization among organizations in that region.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Surge in the Digitalization to Drive the Growth of the Market
According to the World Bank, the percentage of people living in cities has climbed from 47 percent of the total population in 2000 to 56 percent in 2020 across the globe.
Backed by the increase in urbanization, there has been a surge in digitalization in business. Moreover, organizations are adopting digital tools in their operations to move ahead of their competitors. Therefore, the surge in digitalization is anticipated to increase the growth of the global cloud virtual private network (VPN) market.
However, the lack of experienced employees to operate digital systems and the lack of standardization and governance are expected to operate as key restraint to the growth of global cloud virtual private network (VPN) market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global cloud virtual private network (VPN) market which includes company profiling of Cisco Systems, Inc., Microsoft Corporation, ARRAY NETWORKS, INC., Huawei Technologies Co., Ltd., Oracle Corporation, Alphabet Inc., Cohesive Networks, Robustel, NCP engineering GmbH, Singtel, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global cloud virtual private network (VPN) market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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