High Growth Potential In Mobile Virtual Private Network (VPN) Market till 2023

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 Intelligence.

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.

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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.

What are the factors impacting the growth of this market?
  1. Increasing number of cyber threats is a key growth driver for the market
  2. Surge in demand from healthcare is offering lucrative opportunities for the market players
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.


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