Seattle, WA -- (SBWIRE) -- 11/27/2019 -- A virtual private network (VPN) is a technology that creates a secure and encrypted connection over a network. A VPN secures connection with encryption over the Internet. VPN service providers offer services such as super-fast, reliable, and ultra-secure connectivity, strong encryption, and others. VPN services delivered through a cloud-based network infrastructure are known as cloud VPN. It is widely used to deliver VPN access to end users and subscribers with diverse geographies through a cloud platform over the public Internet. Hence, owing to the aforementioned factors, the global cloud VPN market is anticipated to experience significant growth.

Cloud VPN is also known as virtual private network as a service (VPNaaS) or hosted VPN. The primary objective of a cloud VPN is to provide same level security accessible VPN services without the need for additional or any VPN infrastructure on the user's end. Cloud VPN connectivity services are provided to the end user through the provider's website or a desktop or mobile app. Also, the pricing of cloud VPN services vary as it charges the customer based on pay-per-usage or a flat-fee subscription. That is, end users are charged based on the amount of storage, hardware, network, and other resources that are utilized.

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Increasing digitization trend is observed in organizations with their shift towards cloud-based services. The increasing reliance of organization on cloud services brings into light the security and authenticity of the connection. This increases the importance of cloud VPN services. With growing cloud-based services, the need for custom VPN solutions is rising.

The cloud VPN offers customization as per the application in varied range of industries is also fueling market growth. However, the high initial implementation cost incorporated with the solution is restricting the cloud VPN adoption to an extent.

Market Segmentation:

The global cloud VPN market is segmented based on component, connectivity type, enterprise size, industry vertical, and region. Based on component, it is bifurcated into software and services. Based on connectivity type, it is categorized into site-to-site and remote access. Based on enterprise size, it is divided into large enterprises and small & medium sized enterprises (SMEs). Based on industry vertical, it is divided into energy & utilities, retail & e-commerce, government & defense, media & entertainment, medical & life sciences, IT & telecommunications, transportation & logistics, banking, financial services & insurance (BFSI), and others.

Regional Analysis:

North America occupies the largest market share, mainly owing to the presence of many market players in the region and the rising demand for the analytics platform. The growth of machine-to-machine communication (M2M) has also opened doors for cloud solutions in the region, with the United States being one of the largest cloud solutions market in the world.

Key Players:

Cisco Systems, Inc., Huawei Technologies Co. Ltd., Microsoft Corporation, Google LLC, Oracle Corporation, NCP Engineering GmbH, Array Networks, Inc., Robustel, Singtel Telecommunications Limited, Cohesive Networks, Virtela Technology Services Incorporated (NTT Communications Company), and Contemporary Controls Systems, Inc.

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