NEW YORK, Nov. 18, 2019 (GLOBE NEWSWIRE) -- According to the market research report published by P&S Intelligence, global virtual mobile infrastructure (VMI) market share 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 (2019–2024). On the basis of offering, the service category is expected witness the faster growth, with a CAGR of 10.7% during the forecast period. This can be attributed to the increasing need for training and consulting by industry experts to end users, assisting in the manner of usage, strategic planning, compliance management, policy management, and for analyzing advanced configurations.
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Enforcement of multi-factor authentication with VMI platform is one of the major trends observed in the virtual mobile infrastructure market. With the growing adoption of bring your own devices (BYOD) in organizations, relying only on simple user name and password authentication is not secure enough for sensitive applications in healthcare or military sectors. Thus, to prevent malicious users from gaining access to corporate data, vendors are integrating multi-factor authentication with VMI platforms to implement an additional layer of security.
The growing healthcare industry is offering immense growth opportunity for the virtual mobile infrastructure market players worldwide. Global healthcare expenditure is expected to grow from $7.7 trillion in 2017 to $10 trillion by 2022. Growing aging population, rising disposable income, and advances in medical technologies are some of the key factors driving the growth of the healthcare industry. Moreover, growing telemedicine market is further reshaping the future of healthcare sector worldwide, where the global telemedicine market is projected to reach around $130 billion by 2025.
Browse report overview with detailed TOC on "Virtual Mobile Infrastructure Market Research Report: By Offering (Platform, Service), Type (On-Premises, Cloud), Enterprise Size (Large Enterprise, SME), Industry (BFSI, IT & Telecom, Healthcare, Government), Geographical Outlook (U.S., Canada, Germany, U.K., France, Russia, Spain, China, Japan, India, South Korea, Saudi Arabia, Brazil, Turkey, U.A.E) – Industry Opportunity Analysis and Growth Forecast to 2024" at: https://www.psmarketresearch.com/market-analysis/virtual-mobile-infrastructure-market
Presently, with the growing adoption of mHealth, a large number of physicians, nurses, and practitioners review and manage patient health information from their mobile devices, which is increasing the chances of data leakage. Healthcare institutes are increasingly adopting VMI platform for enhanced data security and prevention of data loss/leakage as data never gets stored on employee devices.
Together, North America and Europe are expected to account for over 65% share in the global virtual mobile infrastructure market by 2024, owing to growing technological advancements, developed IT infrastructure, increasing number of smartphone users coupled with growing internet penetration, and well developed BFSI, IT & telecom, and healthcare industries. Other geographies, which includes APAC and Rest of the World (RoW), are also expected to display prominent growth in the virtual mobile infrastructure market during the forecast period. Among all regions, APAC is expected to witness the fastest growth in the market during the forecast period. This can be attributed to the increasing economic growth, surging smartphone penetration, and increasing investment in IT infrastructure.
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The virtual mobile infrastructure market is consolidated in nature, due to the presence of a few number of VMI vendors. Some of the prominent market players include Trend Micro Incorporated, Avast Software s.r.o, Sierraware LLC, and Intelligent Waves LLC.
In recent years, major players in the virtual mobile infrastructure market have taken several strategic measures such as mergers & acquisitions, partnerships, product launches and geographical expansions to gain a competitive edge in the industry. For instance, in July 2018, Sierraware LLC. launched ‘SierraVMI’ for AWS. SierraVMI for AWS would allow customers to enjoy all of the advantages of the cloud including on-demand scaling and elastic load balancing. Customers can use VMI for a several use cases such as enforcing strong authentication and encryption for mobile apps, reducing the risk of data loss from lost or stolen devices, and centralizing mobile app management.
Apart from the aforementioned companies, other players offering VMI analytics solutions, across the globe, include Nubo Inc., Pulse Secure, LLC., Genymobile, JFG Inc., Prescient Solutions, Raytheon Company, and Fortinet Inc.
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