Global Mobile Virtual Private Network Market: Market Segments: By Component (Solution and Services); By Type (Hosted, IP, MPLS, Cloud, Mobile);ByEnd User (Telecommunications, Government, Healthcare, Financial, Military, Utilities, Mining and Oil & Gas); and Region - Analysis of Market Size, Share & Trends for 2014 - 2019 and Forecasts to 2030
Private point-to-point communication between two machines or a network over the internet is a virtual private network. It is a network that allows users, as if their computer device were directly connected to the private network, to send and receive data through shared networks. The virtual private network allows individuals working at home or in the workplace to securely connect to a remote corporate server using the internet-provided routing infrastructure. The data transmitted between two company locations is via an encrypted tunnel that cannot be read by someone else since this device includes multiple components to protect the private network of a company. The virtual private network allows users operating at home or in the workplace to easily connect to a central corporate server using the internet-provided routing infrastructure. Virtual Private Network has been used to offer its employees various security solutions based on their levels of authority.
The major factors driving the growth of the demand for virtual private networks are the substantial increase in the number of cyber-attacks and remote access from anywhere around the world. In addition, the factors that drive the growth of the VPN market are ensuring integrity checks and providing authentication. In addition, cloud technology adoption and safe remote access are expected to provide significant opportunities in the worldwide VPN market. The pandemic, however, has altered this dynamic and caused a huge demand from end-users using VPN services. Industry experts expect this increase in demand to lead to problems that both VPN providers and businesses need to address.
Global Mobile Virtual Private NetworkMarket is segmented by component as solution and services. The solution segment dominated the market with a revenue share of 64.2% in 2018. It is anticipated that the services segment will report a substantial CAGR over the forecast period. Over the past few years, virtual private network solutions have gained great traction, particularly among commercial vendors and individual solution providers. Demand for VPN services will continue to be driven by the rapidly evolving nature of work and the changing commercial requirements for virtual private networks. VPN services are aimed at allowing a remote link to be protected by a virtual private network. In addition, vendors allow customers to compare online prices in real-time, allowing cost-conscious customers to analyze the VPN services on offer before making a purchase decision. At the same time, technological innovations combined with economies of scale are also expected to allow suppliers to further reduce their cost structure and speed up their investment in other aspects.
Global Mobile Virtual Private Network Market is segmented by type into Hosted, IP, MPLS, Cloud, and Mobile. The greater market share of XX% in 2018holds by the IP segment owing to the cost benefits offered by this technology. Compared to other forms of VPN services, such as MPLS, IP links private networks via public networks as they are inexpensive. There is a need for safe communication between different business units and efficient means for data management due to the increasing expansion of companies globally, which will further boost the adoption of MPLS networks. In terms of preventing packet loss and keeping the most critical traffic flowing from a business, MPLS offers excellent service quality. It is predicted that the diminishing ATM / frame-relay would support the growth of the MPLS VPN. Businesses leverage MPLS VPN services as they help them priorities applications by service class, such as Voice over Internet Protocol (VoIP). In addition, the need for specific VPN tunneling is removed, thereby reducing the latency of inter-site transfer.
Global Mobile Virtual Private Network Market is segmented by End-User into telecommunications, government, healthcare, utilities, financial, oil & gas, mining, military, and others. The telecommunications end-user segment dominated the market with a market share of XX.X% in 2018. This is attributed to increased smartphone penetration, which led to the need for the secure transmission of business-critical information via mobile devices. The increasing utilization of wireless and mobile devices across the globe has further accentuated the demand for VPN among utilities, banking, and healthcare domain. Whereas, the healthcare category is projected to witness the fastest growth in the mobile VPN market during the forecast period. These technologies are rapidly being embraced by doctors, field personnel, and medical staff to access sensitive medical records and other healthcare applications via wireless networks.
Remote mobility provides employees of a company with working flexibility and can prove to be a major factor in empowering collaboration and efficiency. These days, companies need a streamlined and centrally controlled remote office that allows them to provide their workers with reliable and safe access to data at a lower cost, which in turn drives the demand for mobile VPNs. Mobile VPN expands the VPN definition to workers who now hold pocket-sized computers instead of laptops. These devices combine a small computer with a mobile phone that supports popular office software, such as email, word processing, and presentations.
One of the major factors driving the growth of the mobile VPN market is the growing cyber threats around the globe, as cyber-attack incidents are increasing every year. An organization's growth also raises the chances of theft and loss of mobile devices, cyber threats, and data breaches. Organizations, as they deal with confidential information, need superior data protection solutions. With the assistance of a mobile VPN, efficient data protection in enterprises can be accomplished. Mobile staff uses wireless connections to set up an internet protocol protection (IPSec) and VPN tunnel from their handheld computer (smartphone) to an IPSec gateway over the internet, thus driving the mobile VPN market.
The major factor hampering the growth of the mobile VPN market is high mobile virtual private network prices, along with less awareness of mobile security solutions in emerging economies. Low awareness of mobile security solutions in developing countries is slowing down the development of the market for mobile VPNs. The recent trend has represented the wider acceptance and deployment of two-factor authentication in many countries. For many businesses, the challenge is to maintain a balance between demand and safety and cost requirements and ensure that users are not overburdened with uncomfortable security measures. In addition, some countries do not implement mobile VPNs, as people access content from the internet through VPN, which is blocked by the government of that country.
Global Mobile Virtual Private NetworkMarket is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC, and MENA.
Global Mobile Virtual Private network market in North America held the largest market share of XX% in the year 2018and is also expected to remain the largest market during the forecast period due to excessive adoption of mobile devices in this region. Mobility is used by business organizations in this area to help increase efficiency and improve the overall customer experience. In addition, by reducing mistakes, streamlining business processes,s and eradicating obsolete products, mobility helps minimize service costs. Moreover, the Asia-Pacific mobile VPN market is expected to experience the highest CAGR during the forecast period. The widespread demand for these products and services in the area is due to numerous advantages given to users by these systems, such as strong encryption systems that help to develop data protection at the time of data transmission, which is considered essential for both public and private businesses.
The Global Mobile Virtual Private Network market, which is highly competitive, consists of several major players such as Smith Micro Software Inc., IBM Corporation hold a substantial market share in the Global Mobile Virtual Private Network market. Other players analyzed in this report are Columbitech, Radio IP Software Inc., Cisco Systems Inc., Anthasoft S.A. De C.V., Techstep Technology, Netmotion Software, Inc., and Check Point Software Technologies Limited among others.
Key players are adopting inorganic growth strategies such as product launches in the global nutritional supplement market. For instance, in October 2018 - Mozilla announced its partnerships with ProtonVPN to offer VPN services to security-conscious Firefox users. This partnership will strengthen its product portfolio and generate additional revenue sources to increase its profitability.
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