Cloud Virtual Private Network Global Market Report 2024

The cloud virtual private network market size has grown exponentially in recent years. It will grow from $9.48 billion in 2023 to $11.7 billion in 2024 at a compound annual growth rate (CAGR) of 23.3%. The expansion observed in the historical period can be ascribed to the globalization of enterprises, advancements in user experience, imperative for accelerated connection velocities, heightened demand for superior customer support services, increasing recognition of cybersecurity risks, and the imperative for robust access control measures.

The cloud virtual private network market size is expected to see exponential growth in the next few years. It will grow to $26.42 billion in 2028 at a compound annual growth rate (CAGR) of 22.6%. The expansion projected for the forecast period is driven by the increasing uptake of cloud services, the cost-efficiency of VPN solutions, the transition of business activities to cloud platforms, the essential requirement for secure and dependable connectivity via VPNs, and the integration of VPN services. Key trends anticipated in this period encompass advancements in VPN technologies, the necessity for enhanced encryption protocols, the introduction of innovative authentication methods, the growing demand for data privacy and confidentiality, and the proactive innovation initiatives by technology firms.

The increasing adoption of remote work arrangements is anticipated to drive the expansion of the cloud virtual private network (VPN) market in the foreseeable future. Remote work, characterized by employees not being tied to traditional office spaces, is gaining traction due to its associated benefits, including flexibility, heightened productivity, reduced commuting pressures, and the promotion of work-life balance. This transition towards remote work necessitates the utilization of cloud-based VPNs to securely link employees to company networks and resources from any location, thereby ensuring data confidentiality and facilitating seamless collaboration. For instance, a study by AT&T published in February 2022 indicates a significant surge in companies embracing a hybrid work model, with an estimated increase from 42% in 2021 to 81% in 2024, where employees will engage in both remote and office-based work. Consequently, the growing prevalence of remote work is fueling the expansion of the cloud VPN market.

Prominent players within the cloud VPN market are actively engaged in the development of innovative solutions, such as cloud VPN concentrators, aimed at delivering dependable and secure cloud VPN networking solutions at competitive prices. These solutions effectively manage and enable communication between multiple remote devices or networks via the Internet. For instance, in January 2024, Netgate, a leading open-source-driven secure networking company based in the United States, unveiled the TNSR high-performance VPN concentrator. This cutting-edge solution offers route-based VPN solutions tailored for edge, cloud, and multi-cloud environments, delivering high-performance IPsec site-to-site VPNs or remote access via mobile IPsec or WireGuard. Key features of the product encompass effortless deployment, intuitive management interfaces, robust security, and round-the-clock technical support.

In September 2021, Kape Technologies, a UK-based cybersecurity company, successfully acquired ExpressVPN for $936 million. This strategic acquisition was geared towards expanding Kape's customer base to over 6 million, up from nearly 3 million, and bolstering its digital privacy and cybersecurity offerings. ExpressVPN, headquartered in the US, is a cloud-based virtual private network (VPN) service provider. The acquisition aligns with Kape Technologies' strategic goals of enhancing its position in the cybersecurity market and providing comprehensive digital privacy solutions to its customers.

Major companies operating in the cloud virtual private network market are Huawei Technologies Co. Ltd., Amazon Web Services, Tencent Holdings Limited, Microsoft Azure, Panasonic Corporation, Intel Corporation, International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, SAP SE, Toshiba Corporation, Google Cloud, NEC Corporation, Samsung Electronics Co. Ltd., VMware Inc., Singapore Telecommunications Limited, ServiceNow Inc., Palo Alto Networks Inc., OpenText Corporation, Array Networks Inc., Lumen Technologies Inc., Surfshark, SoftEther VPN, Contemporary Control Systems Inc., Cohesive Networks LLC, Robustel, SonicWall.

North America was the largest region in the cloud virtual private network market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud virtual private network market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the cloud virtual private network market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A cloud virtual private network (VPN) serves as a secure and encrypted link established over the internet, connecting a user's device with a cloud-hosted network. This technology is pivotal for ensuring data security, privacy, and seamless connectivity, particularly in scenarios such as remote work setups or securely linking multiple office locations.

The primary categories of cloud virtual private networks include remote access virtual private networks and site-to-site virtual private networks. Remote access VPNs, also termed client-to-site VPNs, allow individual users or devices to securely connect to a private network from remote locations via the public internet. These solutions encompass software and services utilized across small and medium enterprises, as well as large enterprises, catering to end-users spanning government and public utilities, information technology and telecommunications, banking and financial services, healthcare, retail, manufacturing, and various other sectors.

The cloud virtual private network research report is one of a series of new reports that provides cloud virtual private network market statistics, including the cloud virtual private network industry's global market size, regional shares, competitors with an cloud virtual private network market share, detailed cloud virtual private network market segments, market trends and opportunities, and any further data you may need to thrive in the cloud virtual private network industry. This cloud virtual private network market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The cloud virtual private network market includes revenues earned by entities through subscription-based pricing models, pay-as-you-go models, monitoring and analytics, maintenance fees, tailored solutions and services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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