The study suggests that the global mobile VPN market is likely to grow from $607.4 million in 2015 to $2.4 billion by 2022. With the explosive growth of mobile devices and the increasingly stringent regulatory requirements faced by the organizations, the mobile VPN market is gaining traction. The mobile VPN products market is emerging and is not confined merely to Telecom and government agencies. The growing need for mobile and wireless devices has developed the demand for mobile VPN among several sectors such as healthcare, utilities and banking sector.
As per the findings of research, the telecommunication industry has been globally the largest consumer of mobile VPNs. And partner/distributor channel has been the largest revenue generator for the market.
Geographically, North America has been the largest market for mobile VPNs, where the U.S. has been the largest contributor to the regional market.
The factors driving the growth of the market include growing need for remote accessibility in organizations and increase in cyber threats globally. In 2014, 69% of the business executives expressed concerns about cyber threats, including lack of data security.
In 2015, this rate further increased to 86%. This reflects the growing need for improved cyber security, for which mobile VPN can be one of the prospective solutions.
The key trend observed in the market is the use of mobile VPN in security solutions. As more and more work transactions are processed through mobile devices, security is a high concern.
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The increasing need for wireless devices creates ample opportunities for the market. The first opportunity is growing use of mobile VPN outside the telecom and government sectors.
Analysts observed that the Banking, Financial Services and Insurance (BFSI) sector is spending a major portion of its revenue on adoption of mobile security products and services. The utilities segment has also started adopting mobile VPN solutions to provide continuous application sessions and roaming capabilities to workers.
Growth of mobile and wireless devices within the organizations poses as another opportunity for the market. There is a need for business organizations to integrate mobile devices such as laptops, tablets and smart phones with various software and applications.
Observing such requirement, the organizations are learning new ways to adopt mobile technology to increase productivity and profitability.
The research states that the global mobile VPN market had a consolidated structure in 2015, where the top three competitors accounted for a major share of the market. Some of the key players in the global market include NetMotion Wireless Inc., Cisco Systems Inc., IBM Corp., Smith Micro Software Inc., Columbitech, Radio IP Software Inc., Techstep Technology, and Checkpoint Software Technologies Inc., Anthasoft S.A.
De C.V., and The Green Bow.
Product launches and strategic partnerships have been the major recent developments in the mobile VPN market. Netmotion Wireless, ColumbiTech, Check Point Software, and The Green Bow are some of the companies that recently introduced new mobile VPN solutions.
Cisco, IBM, and CheckPoint were some of the major players to announce partnerships in this market.
GLOBAL MOBILE VPN MARKET SEGMENTATION
- Oil and Gas
By Distribution Channel
- Value Added Resellers (VARs)
- Direct Sales
- North America
o Rest of Europe
o Rest of Asia-Pacific
- Rest of the World
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