The virtual private cloud market is expected to grow at a CAGR of 12.8% between 2022 and 2032, from US$ 38.8 billion to US$ 129.6 billion. The virtual private cloud market will grow due to key factors such as product cost-effectiveness, rising volumes of business data and connectivity trends, and the growing need for workers to access mobile applications and resources.
The virtual private cloud market is rapidly expanding as a result of increased demand from small and medium-sized businesses, increasing adoption of cloud-based services by large enterprises across various industry verticals, and an increase in the number of data breaches over a network caused primarily by unauthorized access by third parties.
Various government agencies have been heavily investing in the digitization of their operations in order to improve productivity and reduce operating costs through the implementation of efficient management practices, resulting in the widespread use of virtual private clouds in most organizations.
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- The software segment of the virtual private cloud market is expected to grow at a CAGR of 11.8% through 2032.
- The banking, financial services, and insurance vertical method category CAGR in the virtual private cloud market is expected to be 11.5% through 2032.
- The virtual private cloud market in the United States is expected to reach US$ 5.3 billion by 2032, growing at a CAGR of 12.5% over the forecast period.
- The virtual private cloud market in the United Kingdom is expected to be worth US$ 5.3 billion by 2032, with a CAGR of 11.8%.
- China is expected to reach a market size of US$ 9.2 billion in the virtual private cloud market by 2032, with a CAGR of 12.1% over the forecast period.
Amazon Web Services, HP, IBM, Microsoft, Google, VMware, Oracle, Cisco Systems, Red Hat, and NetApp are among the key companies profiled in the virtual private cloud market report.
North America has seen significant growth in the global virtual private cloud market over the last five years. The increasing number of large enterprises involved in various industry verticals is driving the growing demand for VPCs in this region. During the forecast period, Latin America is expected to grow at the fastest rate, with the highest CAGR.