Global mobile VPN market is expected to reach $1560.7 million by 2023

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Oct 11, 2018, 20:00 ET

LONDON, Oct. 11, 2018 /PRNewswire/ -- Mobile Virtual Private Network (VPN) Market by End User (Telecommunications, Government, Healthcare, Financial, Military, Utilities, Mining, Oil & Gas), by Distribution Channel (Partners & Distributors, VARs, Direct Sales, Online), by Geography (U.S., Canada, Germany, France, U.K., China, Japan, India, Brazil) - Global Market Size, Share, Development, Growth, and Demand Forecast, 2013-2023

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Global mobile VPN market is expected to reach $1560.7 million by 2023, growing organizational need for secure remote accessibility to critical applications and surge in cyber threats are the key factors driving the growth of the market, according to P&S Market Research.

Insights on market segments
On basis of end user, the mobile VPN market is categorized into telecommunications, government, healthcare, utilities, financial, oil and gas, mining, military, and others, where "others" include retail, transportation, media, hospitality, and manufacturing. Of these, telecommunications held the largest revenue share in the market in 2017, with a contribution of more than 25%. It is also projected to continue generating the highest revenue in the market through 2023. The growing use of mobile and wireless devices has also generated the demand for mobile VPN in sectors such as healthcare, utilities, and banking.

On the basis of distribution channel, the mobile VPN market is classified into partners and distributors, value-added resellers (VARs), direct sales, and online. Of these, partners and distributors contributed more than 40% revenue share to the mobile VPN market in 2017. As they provide better on-premise services, they are expected to continue leading the market, as the most preferred source of mobile VPN products, in the coming years as well.

Market is projected to witness the fastest growth in Asia-Pacific (APAC)
During the forecast period, the mobile VPN market is projected to witness the fastest growth in APAC, at a CAGR of 31.1%. With the growth of the mobile devices market in countries like China and India, and increasing implementation of stringent regulatory norms, the demand for mobile VPN is gaining traction in the APAC region.

Increasing number of cyber threats is a key growth driver for the market
The key factor driving the growth of the mobile VPN market is the increasing number of cyber threats. With increase in the number of companies using mobile devices and cloud services for work purposes, data security threats are on the rise. Thus, due to the rising incidence of cyberattacks, data security has become a major concern for organizations.

Data security in organizations can be achieved with the help of mobile VPN. The network establishes an internet protocol security (IPSec) VPN tunnel from the mobile device to an IPSec gateway over the internet using a wireless connection, such as a global system for mobile communication (GSM) or wireless LAN (WLAN). The wireless VPN tunnel allows employees to securely access their enterprise applications, such as e-mails. Thus, the growing rate of cyberattacks is leading to increased demand for the network in organizations, which, in turn, is driving its market growth, globally.

Surge in demand from healthcare is offering lucrative opportunities for the market players
The demand for mobile VPN from the healthcare sector has increased in recent years, as field workers, physicians, and medical staff are required to be given access to confidential medical records and other healthcare applications. The Health Insurance Portability and Accountability Act (HIPAA) compliance provides data security and privacy provisions for safeguarding medical information. Thus, the efforts of the healthcare sector to become HIPAA complaint is expected to drive the growth of the mobile VPN market, globally. Besides, home health care and telemedicine are encouraging increased used of wireless devices. Thus, the increased demand for mobile device security is creating lucrative growth opportunities for the players operating in the market.

Mobile VPN market competitiveness
Vendors in the mobile VPN market are aggressively investing and working toward building cost-effective mobile security solutions. Some of the key players operating in the market are Netmotion Software, Inc., Radio IP Software Inc., Smith Micro Software Inc., Cisco Systems Inc., IBM Corporation, Columbitech, Techstep Technology, Check Point Software Technologies Limited, Anthasoft S.A. De C.V., and TheGreenBow.

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