Latest reports envisage that SMEs will dominate the Virtual Private Cloud (VPC) market in the coming years and this virtual private cloud market is estimated to reach $45.69 billion by 2022.
A global ICT market research and consulting organization, Infoholic Research LLP has written in its latest study “Virtual Private Cloud: Trends & Forecasts, 2016-2022” the Asia-Pacific Excluding Japan (APEJ) region is one of the fastest growing VPC markets due to increased ICT infrastructure spending from SMEs, SMBs and the government.
Tariq Shaik from Research Operations of Infoholic Research states, “Globally, BFSI and Telecom are the industry verticals which are spending a lot on secure and cost-friendly cloud solutions. It is predicted that by 2022, Public and E-commerce sectors will be spending a lot on cloud-based solutions. The growing dependence of these sectors on internet based applications is one of the reasons for cloud dependency,“
The report further predicts that the virtual private cloud market has huge opportunity in industry verticals such as BFSI, transportation, telecom and hospitality and is get grow at CAGR of 26.35% during the period 2016-2022. Further, it will see significant growth in the coming years due to the growing need for cost-friendly disaster recovery solutions.
“The growing number of SMBs and their dependence on cloud are driving the growth of the VPC market in the emerging regions. The major contributors of the market will be countries such as India, China and South Africa,” said Komal Sharma, Research Analyst at Infoholic Research.