Cloud VPN Market size was valued at USD 10.69 billion in 2023 and is set to cross USD 151.13 billion by 2036, registering more than 22.6% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of cloud VPN is evaluated at USD 12.62 billion. The growth of the market can be attributed to the increasing adoption of cloud-based services and solutions amongst enterprises, along with growing penetration of internet and virtualization. Moreover, the surge in trends, such as, remote working is estimated to increase the demand for cloud VPN services. The market growth can be further attributed to the increasing adoption of cloud computing across various industry verticals. For instance, cloud computing services generated almost USD 400 billion in revenue in 2021. Many organizations are transforming from traditional to digital mode of business, with the use of cloud services. Furthermore, the rising digitalization worldwide, is anticipated to boost the market growth. Additionally, growing penetration of internet is projected to fuel the growth the market. According to the World Bank Statistics, 56.727% of the global population used internet in 2019, while 60% population used internet in 2020.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024–2036 |
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CAGR |
22.6% |
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Base Year Market Size (2023) |
USD 10.69 billion |
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Forecast Year Market Size (2036) |
USD 151.13 billion |
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Regional Scope |
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The market is segmented by connectivity type into site-to-site, and remote access, out of which, the remote access segment is anticipated to hold a substantial share in the global market over the forecast period on account of increasing work from home and remote working pattern amongst organization. Remotely accessible VPN is desirable amongst employees working remotely, which is expected to boost the segment growth.
Our in-depth analysis of the global market includes the following segments:
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By Component |
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By Connectivity Type |
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By Organization Size |
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By End-User |
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On the basis of geographical analysis, the global cloud VPN market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Asia Pacific industry is predicted to hold largest revenue share by 2036, on the back of growing proliferation of tech-giants in the developing nations, such as, Japan, India, and China, along with the growing IT sector in the region. For instance, the IT services industry in the APAC region is projected to reach approximately USD 240 billion by 2022.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the expansion of e-commerce industry in developed nations, such as, Canada and U.S. Moreover, growing penetration of internet and smart devices which require VPN, are anticipated to boost the regional market growth.
April 28, 2022: Huawei launched its first ever commercial indoor toB-focused 5G positioning solution. Huawei's 5G indoor positioning is split between LampSite Enterprise Edition (EE) and on-premises location service (LCS) modules.
January 11, 2022: YesAsia Holdings Ltd. has selected Oracle Fusion Cloud Customer Experience (CX) to automate its marketing platform with AI-driven technology solutions.
Author Credits: Abhishek Verma
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