Press release
Virtual Private Cloud Market is expected to grow at a higher CAGR of 23.4% over the forecast period
The Virtual Private Cloud Market is projected to grow at a CAGR of 23.4% over the forecast period.For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/global-virtual-private-cloud-market/
The factors driving growth of the Virtual Private Cloud Market includes huge volumes of data generated across BSFI, Healthcare and Media & Entertainment industries, rising focus by companies on modernizing IT infrastructure, Government initiatives promoting digitalization, increasing number of data breaches reported around the world and improvements in the living standards. Moreover, increasing adoption rate of cloud services among small and medium organizations, virtual private cloud solutions reduce time, easy to install and prevents from mixing of data are further boosting the Global Virtual Private Cloud Market. For instance, Leading players are investing on R&D, collaborating and partnerships between enterprises coupled with the increasing launch of new and innovative products are further contributing towards the market growth. As per the Surfshark, US reported highest number of data breaches almost 212.4 million users were affected as compared to 174.4 million in 2020, will create more demand for virtual private cloud solutions during the forecast period.
However, growth of the Virtual Private Cloud Market is hindered due to low internet penetration rates in developing countries.
The prominent players operating in the market are VMware, Inc., Amazon Web Service, Inc., CenturyLink, Cisco Systems Inc., Google, Microsoft Corporation, Alibaba Group Holding Limited, IBM Corporation, NetApp, and Rackspace US Inc, among others.
Based on End Use, the BSFI segment is predicted to grow at a significant CAGR during the forecast period
Growing concerns related to data storage, recovery, and cybersecurity, rising focus on enhancing consumer's experience and increased adoption of cloud computing solutions by banks, are some of the factors pushing segment's growth.
Based on Region, the North American region is anticipated to capture the largest market share over the forecast period
Strong presence of the leading players such as Amazon Web Service, Inc, Cisco Systems Inc., Microsoft Corporation, increasing number of cyber-attacks across United States and Canada, rapid adoption of advanced technologies, are some of the important factors augmenting the Virtual Private Cloud Market size in the North American region.
Key Developments
In 2020 - GoDaddy Inc. completed the acquisition of Neustar Inc's Registry business under the name of GoDaddy Registry.
Market Segmentation
Segmentation by Component
Software
• Services
Segmentation by Deployment Type
Software as a Service (SaaS)
• Platform as a Service (PaaS)
• Infrastructure as a Service (IaaS)
Segmentation by Organization Size
Small and Medium Enterprises
• Large Enterprises
Segmentation by End Use
BFSI
• Healthcare
• Media& Entertainment
• IT& Telecommunication
• Government
• Retail
• Others
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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