The flourishing healthcare industry, on account of the booming elderly population, mounting disposable income, and rising advancements in medical technologies is creating a huge requirement for virtual mobile infrastructure (VMI) platforms worldwide. At present, a large number of nurses, physicians, and medical practitioners are reviewing and managing patient health information from their mobile devices, through mHealth solutions, which is amplifying the chances of data leakage. Therefore, healthcare institutes are increasingly using the VMI platform for preventing data loss and enhancing data security, as the data never gets stored on the devices of employees through this platform.
Additionally, the rising popularity of the bring-your-own-device (BYOD) culture in business organizations will accelerate the virtual mobile infrastructure market at a CAGR of 9.7% during 2019–2024. The market was valued at $115.8 million in 2018, and it is expected to generate $194.3 million in revenue in 2024. Enterprises across the world are showing a strong preference for the BYOD policy as it helps them in enhancing productivity and reducing the information technology (IT) setup time and expenditure. VMI empowers enterprises in hosting their mobile apps on servers and offering personalized remote access to them from any device.
Moreover, the rising penetration of the 5G network will fuel the adoption of VMI platforms in the forthcoming years. This generation of cellular network technology provides increased bandwidth and speed. With the 5G technology, data transfer speeds will increase by about 10 times, as compared to the 4G technology. The rising adoption of 5G would also minimize the hurdle of slow internet connections, as this new network technology will decrease end-to-end latency by almost 10 times than 4G, which will help in improving the VMI user experience.
Currently, healthcare facilities and business organizations are largely focusing on using cloud-based VMI platforms as they provide greater scalability and flexibility and lower the IT infrastructure costs. As a result of these advantages, small and medium enterprises (SMEs) are increasingly adopting cloud-enabled VMI platforms to prevent data loss. Cloud-enabled solutions encompass the software-as-a-service (SaaS) model, which enables users to virtually access VMI platforms through the internet.
According to P&S Intelligence, North America dominated the virtual mobile infrastructure market in the recent past due to the rapid technological advancements, presence of a developed IT infrastructure, and existence of productive healthcare, and banking, financial services, and insurance (BFSI) sectors. Additionally, the booming number of smartphone users and rising penetration of the internet will propel the demand for VMI platforms in the region in the foreseeable future.
Moreover, the Asia-Pacific (APAC) region is expected to adopt VMI solutions at the fastest pace in the forthcoming years, due to the rapid economic growth, burgeoning smartphone demand, soaring number of data breaches, and mounting investments in IT infrastructure development in the region. For instance, according to the Contribution of Smart Phones to Digital Governance in India study by the India Cellular and Electronics Association (ICEA), the number of smartphone users in India is projected to spike from 500 million in 2019 to 820 million by 2022.
Thus, the prospering healthcare industry and growing popularity of the BYOD policy will propel the adoption of VMI platforms in the foreseeable future.
