Market Size of Cloud VPN Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 22.40 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Cloud VPN Market Analysis
The Cloud VPN market is valued at USD 7.67 billion in the current year. It is expected to register a CAGR of 22.4% during the forecast period, reaching USD 26.01 billion in five years. Cloud VPN or Virtual Private Network as a Service (VPNaaS) is a VPN that utilizes a cloud-based network infrastructure to deliver VPN services. It offers VPN access, where the user can access through a cloud platform over the public Internet.
- The increasing trend towards BYOD and enterprise mobility, growing data concerns, and the adoption of work-from-home drive the demand for cloud VPNs. Furthermore, the growth of cloud migrations increased VPN usage in various businesses worldwide, as most organizations store sensitive data in the cloud.
- Furthermore, as enterprises migrate away from on-premise workloads toward data centers via their cloud strategies, the need for cloud VPN is also expected to grow. The increasing demand for secure remote access and increased adoption of private clouds are also expanding the scope for vendors in the market studied.
- Many Managed Security Service Providers (MSSPs) and cloud providers offer VPNaaS. Effective security mandates the management of VPN environments. These mandates can be outsourced to providers that either host a managed VPN solution or ensure the management of the VPN.
- As enterprises are embracing digitalization and leading to the growing adoption of cloud-based servers, the limited technical knowledge among the employees to deploy digitalization further poses a challenge to the cloud VPN market.
- The spread of COVID-19 positively impacted the market due to disruptions in the supply chain owing to extended factory closures globally. Many countries across the globe mandated work-from-home situations on public health safety concerns that drove the need for remote working infrastructure.
