MarketsandMarkets forecasts the a new market research report “Virtual Mobile Infrastructure (VMI) market 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 2019–2024. Increase in smartphone penetration and reduced hardware and operating cost using VMI are the major driving factors for the growth of the VMI market.
Browse 35 market data Tables and 26 Figures spread through 101 Pages and in-depth TOC on “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″
There are various regulations that affect the global VMI market such as Health Insurance Portability and Accountability Act, Federal Information Security Management Act, Federal Information Processing Standard, Children’s Online Privacy Protection Act, Children’s Internet Protection Act, The Personal Data (Protection) Bill, 2013—India, Data Protection Act 1998—UK, and IT Security Act—Germany.
By component, the VMI market, has two subsegments: platforms and services. Services are expected to grow at the highest CAGR during the forecast period. The services segment of the VMI market has been subsegmented into professional services and managed services. In the VMI market, services play a vital role in the functioning of various VMI platforms. Most of the market vendors offer professional services to manage the deployment of VMI platform. These services ensure faster and smoother implementation, which maximizes the value of enterprise investments. Services have become an integral part of platforms as they also address pre-and post-deployment queries of VMI.
Among deployment types, cloud deployment segment is expected to grow at highest CAGR during the forecast period. Cloud computing is one of the most effective technologies today, and it has impacted every line of business. Cloud-based solutions involve Software-as-a-Service (SaaS) model, in which users can access Software-as-a-Service VMI platforms virtually, through the internet. In this 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. However, cloud deployed VMI platforms have certain shortcomings, such as lack of control over applications, strict government regulations, and private content.
The VMI market has been witnessing tremendous growth in the North America region and holds the largest market size in 2019. The presence of key players, such as Sierraware (US), Nubo (US), Fortinet, and Intelligent Waves (US) in the region is the major driving factor for the growth of North American VMI industry. VMI market players in the region invest heavily in R&D. Moreover, North America has well developed BFSI, IT, and healthcare sectors, which represents a significant opportunity for the VMI service providers.
Availability of a large number of Android apps represents a significant opportunity for VMI players. While granting access to enterprise data through employee devices, organizations must take care of the data security aspect of the system. In MDM, some of the data is transferred to the devices, whereas in VMI, only essential communication takes place between the device and the VMI server; this removes the possibility of data theft from the malware or virus present in the operating system of the user. VMI can also incorporate anti-screen capturing and screen watermarking to stop the user from using data for other purposes. As more enterprises realize the security benefits of VMI, the demand for VMI solutions is expected to grow in the future. Players can take advantage of this opportunity by providing compatibility support to their customers. With an increased number of android applications, companies can significantly improve the client’s user experience. Advancement in technologies such as 5G and IoT has created a large number of opportunities for the VMI market.
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