Cloud VPN Market Size

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.