According to a research report "Virtual Mobile Infrastructure Market by Component (Platforms and Services), Deployment Type (Cloud and On-premises), Vertical (BFSI, Healthcare, Manufacturing, and Government), and Region (North America, Europe, APAC, and RoW) - Global Forecast to 2024", published by MarketsandMarkets, the Virtual Mobile Infrastructure (VMI) market is expected to grow from USD 113 million in 2019 to USD 173 million by 2024, at a Compound Annual Growth Rate (CAGR) of 8.9% during the forecast period. The major factors driving the VMI market include increase in smartphone penetration and reduced hardware and operating cost using VMI.
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VMI platform to grow at a higher CAGR in the
global VMI market during the forecast period
The VMI market has been
segmented on the basis of component into 2 categories: platforms and services.
The platforms segment holds a higher market share during the forecast period.
The increased penetration of smartphones, supportive Bring Your Own Device (BYOD)
& and Choose Your Own Device (CYOD) policies of the organizations, and
organizational need to enhance the productivity of the mobile workforce are the
factors owing to the increasing demand of VMI platforms.
Cloud deployment type to be a faster growing
segment from 2019 to 2024.
In cloud deployment type, VMI
platforms are delivered via the cloud. The advantages of deploying cloud-based
VMI platforms include flexibility, scalability, affordability, operational
efficiency, and low IT-related costs. The additional benefits of cloud-based
solutions include effectiveness while being used by many users, reduced upfront
costs, easy rolling out of new projects, zero hardware investments, low
maintenance costs, and minimized infrastructure costs. The overall adoption of
cloud-based VMI platforms is seen to be on the rise and expected to be high
during the forecast period, due to the associated functionalities and core
features. Majority of the market vendors are planning to offer cloud SaaS
offering in the VMI market.
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North
America to hold the largest market size in the VMI market during the forecast
period
North
America is estimated to account for the largest share of the market in 2019.
The region is considered the most advanced in terms of technology adoption and
infrastructure. North America has well developed BFSI, IT, and healthcare
sectors, which represents a significant opportunity for the VMI service
providers. The region has a high number of unique mobile subscribers hence, the
businesses can efficiently implement VMI solutions to enhance the productivity
of the mobile workforce. The presence of key players, such as Sierraware (US),
Nubo (US), Fortinet (US), and Intelligent Waves (US) in the region is the major
driving factor for the growth of VMI market in the region. With a high number
of unique mobile subscribers, North America represents significant growth
opportunities for VMI vendors.
Major
vendors in the VMI market include Trend Micro (Japan), Avast Software (Czech
Republic), Sierraware (US), Nubo (US), Intelligent Waves (US), Pulse Secure
(US), Raytheon (US), Prescient Solutions (US), Fortinet (US), and Genymobile
(France).
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