Global mobile VPN market is expected to 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, according to P&S Market Research.
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.
Data security in organizations can be achieved with the help of mobile VPN. The network establishes an internet protocol security (IPSec) VPN tunnel from the mobile device to an IPSec gateway over the internet using a wireless connection, such as a global system for mobile communication (GSM) or wireless LAN (WLAN). The wireless VPN tunnel allows employees to securely access their enterprise applications, such as e-mails. Thus, the growing rate of cyberattacks is leading to increased demand for the network in organizations, which, in turn, is driving its market growth, globally.