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Global virtual mobile infrastructure (VMI) market was valued at $115.8 million in 2018, and is further expected to generate $194.3 million revenue by 2024, exhibiting a CAGR of 9.7% during the forecast period. Growing adoption of bring your own devices (BYOD) policy, increasing smartphone penetration, coupled with surging high-speed internet network coverage, and growing concern toward enterprise data security are the major factors driving the growth of the virtual mobile infrastructure market across the globe. Among all regions, Asia-Pacific (APAC) is expected to witness the fastest growth during the forecast period. This is due to rapid economic growth in the major developing countries such as China and India, accelerated IT spending and increasing smartphone penetration.
Factors Governing Virtual Mobile Infrastructure Market
Increasing preferences toward cloud based VMI platform has been observed to be one of the key trends in the global virtual mobile infrastructure market. Cloud-based solutions involve Software-as-a-Service (SaaS) model, in which users can access VMI platforms virtually, through the internet. Cloud deployment of VMI platforms offers greater flexibility and scalability, affordability, and low IT infrastructure costs in terms of deployment to the users. As a result, SMEs are increasingly adopting cloud based VMI platform to prevent data loss.
Increasing adoption of BYOD is one of the key factors driving the growth of the market across the globe. Presently, enterprises are looking for ways to increase the efficiency and productivity of their employees. As the demand for mobility in the workplace is increasing from the employees, enterprises have started implementing BYOD policy. Adoption of BYOD policy helps organizations to increase productivity as well as it also reduces the IT expenditure and IT setup time for organizations. VMI empowers organizations to host their mobile apps on servers and provide personalized, remote access to their apps from any device. Since the environment is remote, no apps or data are stored on the employee’s own device which increase the data security.
Increasing penetration of 5G network would further boost the growth of the global virtual mobile infrastructure market in the coming years. Fifth generation cellular network technology offers increased speed and bandwidth. Data transfer speeds are projected to be about 10 times higher with 5G as compared to 4G. Increasing penetration of 5G would minimize the barrier of slow internet connection as 5G is expected to provide 10 times decrease in end-to-end latency as compared to 4G, which would further enhance the VMI user experience.
Virtual Mobile Infrastructure Market Segmentation Analysis
On the basis of offering, the market has been bifurcated into platform and service, wherein platform category held the larger share in the market in 2018. This is due to the increasing adoption of VMI platform across all verticals for the prevention of data loss/leakage caused by physical damage or low security of employees’ devices.
Based on deployment type, the market has been categorized into on-premises and cloud, wherein cloud category held the larger share in the market in 2018, and it is anticipated to record faster growth, with a CAGR of 10.3% during the forecast period. This is due to the enhanced scalability and flexibility of cloud-based VMI platform, where clients can customize solutions and services as per their requirements. In addition, as cloud-based deployment reduces operational and infrastructural set-up cost, SMEs are increasingly adopting cloud-based solutions.
Geographical Analysis of Virtual Mobile Infrastructure Market
Based on region, North America held the largest market share in 2018. Technological advancement, developed IT infrastructure, increasing number of smartphone users coupled with growing internet penetration, and well developed BFSI, IT & telecom, and healthcare industries are the major factors driving the growth of the market.
On the contrary, the APAC virtual mobile infrastructure market is expected to witness the fastest growth, with a CAGR of 11.5%, during the forecast period. This can be attributed to increasing economic growth, surging smartphone penetration, increasing investments in IT infrastructure, and surging number of data breaches in the region.
Competitive Landscape of Virtual Mobile Infrastructure Market
The virtual mobile infrastructure market is consolidated in nature, due to the presence of a few number of VMI vendors. The market is primarily characterized by four major companies, namely, Trend Micro Incorporated, Avast Software s.r.o, Sierraware LLC, and Intelligent Waves LLC. These companies held the major share of the market in 2018, as they have been the foremost choice of consumers, due to their reputation and effectiveness of their VMI platforms. Other prominent players in the market include Nubo Inc., Pulse Secure, LLC., Genymobile, JFG Inc., and Prescient Solutions.
Recent Strategic Developments of Virtual Mobile Infrastructure Market Players
In recent years, major players in the virtual mobile infrastructure market have taken several strategic measures such as mergers & acquisitions, product launches and geographical expansions to gain a competitive edge in the industry. For instance, in December 2018, Nubo Inc. launched its new and enhanced VMI platform which can now be accessed from any computer with an internet browser. The new VMI platform is compatible with all HTML 5 web browsers, in addition to all Android and iOS devices.
Further, in November 2017, Intelligence Waves LLC. acquired Hypori Inc., a U.S. based VMI vendor for an undisclosed amount. This acquisition enables the former to further enhance its existing product portfolio and customer base.
Key Questions Addressed/Answered in the Report