Retail vertical to grow at the highest rate during the forecast period. Various factors driving this adoption are the rising purchasing power of customers and the need to satisfy customer expectations leading to the existing customer retention and new customer acquisition. Online retailing and cloud technologies have significantly disrupted the retail vertical leading to the adoption of cloud computing mainly for storage, backup, and security services. Cloud computing services enable retailers to access customer data with just one click from any store located anywhere leading to better customer service delivery. The VPC solution helps in renovating a business approach. Retailers are benefited with cost saving by implementing VPC. This sector experiences risk of information breaches of high profile data. VPC overcomes these security problems by creating security policies for the applications that are stored on it.

Support and Maintenance services to grow at the highest rate during the forecast period. Support services empower organizations to efficiently tackle service requests, such as end-user issues and technical issues. Support and maintenance form an integral part of VPC implementation. These services ensure uninterrupted operations of the VPC solutions and services deployed in organizations.

Google (US), Microsoft (US), Alibaba (China), AWS (US), OVH (France), Huawei (China), Rackspace (US), CenturyLink (US), DXC (US), and Atos (France) are the leading vendors with almost 70 percent of market share.

Increased security, automation and agility, the need for IT modernization, automation of manual processes, and increased cost savings are the major growth factors for the Virtual Private Cloud market which the new market entrants can focus on and can capture the market.

The Global VPC Market Size is Expected to Grow from USD 20.9 Billion in 2019 to USD 58.9 Billion By 2024, at a CAGR of 23.0%