Global Managed VPN Market Set to Soar to $63.2 Billion by 2030
Remote work, enterprise sectors, and cloud services to fuel managed VPN uptake.
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The global managed VPN market is on track for a significant boom, with a projected compound annual growth rate (CAGR) of 12.7% from 2022 to 2030.
According to a new study by Research and Markets, the industry is expected to reach a remarkable $63.2 billion over the next eight years.
This comprehensive analysis sheds light on the expanding future of the managed VPN market, with enterprises and cloud service providers leading the charge.
U.S. and China to record the most significant growth
The United States and China are poised to be the frontrunners in this growth. Currently, the U.S. VPN market’s value of $7.3 billion as of 2022 showcases a solid commitment to cybersecurity and remote working solutions.
On the other hand, China, the world’s second-largest economy, is projected to reach $11 billion by 2030, representing a CAGR of 12.3% over the forecast period.
The major drivers of China’s growth will include rapid digital transformation and infrastructure development, the report claims.
Other key markets aren’t left behind either. Japan and Canada are anticipated to grow by 11.1% and 10.8%, respectively.
Europe also expects a positive growth outlook, with Germany positioned for an approximate 9.2% CAGR.
Enterprise market driving the growth
The managed VPN market is experiencing significant growth due to the increasing demand for secure and reliable connectivity.
The rise of remote work and the need for secure communication channels to avert cyber threats are also at the forefront of driving the market’s expansion.
As a result, the enterprise sector is projected to record a notable market valuation of $39 billion by the end of the forecast period, with a projected CAGR of 12.3%.
Cloud service providers are also expected to experience substantial growth, with an estimated CAGR of 13.9%, highlighting the vital role of VPNs in modern digital infrastructure.
A look ahead
The expected increased uptake in Managed VPN services signifies a growing awareness among individuals and corporations of the importance of fortifying online security.
By implementing robust VPN solutions, businesses can ensure secure access to sensitive data and navigate the evolving online threats more confidently.
