Mobile Virtual Private Network (VPN) Market Size, Share, Trends, Technology, Competitive Analysis, Demand and Opportunities by 2023

The global mobile virtual private network (VPN) market is growing at a CAGR of 19.7% during 2018–2023 and will 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.

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Image result for Mobile Virtual Private Network (VPN)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.

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.

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.

Netmotion Software, Inc., Radio IP Software Inc., Smith Micro Software Inc., Cisco Systems Inc., IBM Corporation, Columbitech, Techstep Technology, Check Point Software Technologies Limited, Anthasoft S.A. De C.V. and TheGreenBow.

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