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The global mobile device management market size was USD 3.10 billion in 2020. The market is projected to grow from USD 3.88 billion in 2021 to USD 17.64 billion in 2028 at a CAGR of 24.1% during the 2021-2028 period. The global impact of COVID-19 has been unprecedented and staggering, with witnessing a positive impact on demand across all regions amid the pandemic. Based on our analysis, the global market exhibited a lower/higher growth of 23.6% in 2020 as compared to the average year-on-year growth during 2017-2019. The rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.’
In the scope of the study, we have included the players in the market, such as ManageEngine, providing solutions such as mobile application management, mobile security management, enterprise mobility management, and others. IBM Corporation provides bring your device (BYOD) security, identity, access management, unified endpoint management solutions, and others.
The market is growing with the rising adoption of mobile-related software among various sectors such as BFSI and IT & telecommunication. This software includes security management, app management, and others. End-use organizations deploy this software to ensure that information is retrieved and stored safely.
Furthermore, to increase their profitability across different geographies, leading competitors utilize various methods such as product launches, mergers, and acquisitions. For instance,
Rising Demand for Mobile Device Management Across Healthcare and Other Industries to Aid Growth
The global impact of the COVID-19 pandemic and the economic consequences have made it difficult for market participants to respond. According to the International Data Corporation (IDC), the global market for I.T. and business outsourcing services was expected to decline by 1.1% in 2020 and rise slightly over 1% in 2021.
The COVID-19 pandemic has forced several organizations to completely shift their work from office to work from home. For instance,
An increased work from home strategy also increases the threat of regulatory shortages and places sensitive data at risk. Companies use MDM solutions to improve control and security features to prevent risk and adopt security-related approaches in various sectors. This factor delivers a significant opportunity for the market. For instance,
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Increased Adoption of Bring Your Own Device (BYOD) in Various Industries to Drive Market
The transition of organizations' focus from traditional work to the BYOD concept is considered as one of the emerging trends. As work from home grows enormously, it becomes more difficult for firms to secure a corporate network. As a result, companies are turning to adopt bring your own device concept. Large organizations across industries, including government, healthcare, retail, and others are implementing BYOD in various business applications. This concept is used by organizations to increase production efficiency and reduce the cost of hardware maintenance and equipment purchase. Players are focused on advanced product launches to expand their geographical presence worldwide. For instance,
Rising Adoption of Mobility Culture Among Organizations to Aid Market Growth
One of the major driving forces behind this culture is that personal devices frequently have more advanced functionality than company-owned devices and allow work to be done at any time and from any location. Several individuals’ initial choice of technology at work has shifted to smartphones and tablets. While the mobility environment is becoming more prevalent in academic and corporate sectors, it also requires improved data and content security to prevent the abuse of business-critical information. As a result, enterprises are compelled to implement mobile security protocols such as MDM. IT professionals can now manage Chromebooks, smartphones, tablets, and kiosk devices all from one platform. For instance,
High Implementation Cost for MDM Solution in SMEs and Security Issues to Restrict Market Growth
High implementation costs of MDM solutions cause budget constraints in small and medium-sized enterprises that cannot provide an effective MDM solution and limit the mobile device management market growth. Furthermore, there are a variety of costs involved with MDM services, such as integration, consultancy, maintenance, installation, upgrades, among others, which restrict the market expansion.
Additionally, increasing the number of devices and endpoints in a company also increases the number of ways for hackers to attack such endpoints and devices. The data center is the starting place for a mobile security strategy. Hackers attempt to get access to the network to encrypt important corporate data. Even firms with tight security and compliance rules for confidential documents don't always have the same severe security protocols for mobile devices. This is another factor that is hampering the market growth.
Increased Demand for Advanced Mobile Device Management Software by Enterprise to Boost Growth
Based on component, the market is divided into software and services.
Among these, software holds the largest market share. The growth is due to organizations' growing demand for MDM software such as mobile application management, enterprise mobility management, mobile content management, and others. Major players in the market are launching and adopting various MDM solutions to expand the segment growth. For instance,
The services are expected to grow at the highest CAGR during the forecast period. MDM services improve the entire MDM systems lifecycle by ensuring that data are implemented, updated, and accessible. These services help to reduce the threat of misplacing and damaging key organizational data and information by reducing the risk of security threats.
Cloud to Hold Major Market Share Owing to Increasing Adoption of Cloud-Based Solutions
Based on deployment, the market is divided into cloud and on-premise.
Among these, the cloud is expected to hold a major market share during the forecast period owing to smooth, scalable, and flexible characteristics. Cloud-based solutions give IT professionals advanced features such as managing, enrolling, locking, and securing devices from any location. Modern mobile devices run on various operating systems that require regular new product performance to keep them running smoothly. Furthermore, key players in the market are developing advanced cloud-based systems by partnering and collaborating with other key players. For instance,
The on-premise segment is expected to grow considerably due to the rising demand for managed mobile device management systems.
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Rising Adoption of MDM Software Across IT & Telecommunication Industry to Boost Market Progress
Based on end-user, the market is segmented into BFSI, IT & telecommunications, government, healthcare, retail, and others (transportation, education, and others.)
Among these, the government sector holds the largest market share, owing to high-value data and content that need security-related software and services. Governments frequently require higher security requirements than large enterprises, and protecting devices & sensitive documents is essential. MDM utilizes automation solutions to help public-sector organizations comply with rules and improve operational efficiency.
IT & telecommunication is expected to rise with the highest CAGR during the forecast period among all the industries. A considerable amount of data has been used in the IT & telecom sector for business process management, security management, application management, and confidentiality of data. Increasing concerns about data security and the need for MDM solutions in IT & telecom will surge the demand in the industry in the coming years.
Healthcare is expected to experience considerable growth during the forecast period. The demand for secure & reliable mobile device management has grown as the number of in-home health aides and remote patient monitoring increase. MDM improves healthcare companies by securing their devices and data while also complying with Health Insurance Portability and Accountability Act (HIPAA) and industry laws. MDM also makes it simpler to deploy devices and configure them in accordance with corporate requirements.
BFSI and the retail industries are in their growing phase, owing to increased data-related privacy, security concerns, and launching various solutions and services by the retail and BFSI vendors. For instance, in December 2021, PMC announced to launch a guide to in-store mobile device management. This factor will help retailers in customer data capturing and clientele.
North America Mobile Device Management Market Size, 2020 (USD billion)
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The market is divided into five major regions, North America, Asia Pacific, Europe, the Middle East & Africa, and Latin America.
During the forecast period, the North America mobile device management market share is expected to capture the largest market around 42.3% of the overall market. The region's growth is attributed to multinational companies that are active in upgrading their mobile IT infrastructure to address the demands of changing competitive environments and keep up with the significant regional variation in compliance rules. Even though the region is more mature, it will continue to grow as major enterprises expand their implementations and utilize customized application development tools and mobile collaboration software. Major companies in the region are focusing on offering innovative management software services and increasing partnership to increase their global footprint. For instance,
Asia Pacific is predicted to grow at the fastest rate during the forecast period. The region is expected to offer the most appealing possibilities for MDM providers due to high urbanization and surge in demand for managing an increasing number of mobile devices. In this region, economies, such as India and China, are expected to surge the demand for MDM.
The market in Europe shows considerable growth in adoption practices and rising awareness and data security concerns. Germany, Spain, and the U.K. have MDM solutions' most significant adoption rates. Companies are rapidly adopting mobility solutions to minimize hardware costs and increase productivity, which dominates the market of this region. For instance,
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The Middle East & Africa and Latin America are expected to grow rapidly. The rise of government projects, cloud and Big Data adoption, and the advent of technological innovation have contributed to the market growth.
Market leaders such as Soti, Inc. to Focus on Expanding their Product Offerings
Key players in the global market, such as Soti, Inc., focus on developing and offering MDM-related products and services worldwide. The company offers an extensive range of professional services, enterprise content management, application management, and location services.
List of the Key Companies Profiled:
An Infographic Representation of Mobile Device Management Market
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The market research report offers qualitative and quantitative insights on the product and a detailed analysis of market size & growth rate for all possible segments in the market. Along with this, the report provides an elaborative analysis of market dynamics, emerging trends, and competitive landscape.
ATTRIBUTE | DETAILS |
Study Period | 2017-2028 |
Base Year | 2020 |
Estimated Year | 2021 |
Forecast Period | 2021-2028 |
Historical Period | 2017-2019 |
Unit | Values (USD billion) |
Segmentation | By Component, Deployment, End-User, and Region |
By Component |
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By Deployment Type |
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By End-User |
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By Region | (Component, Deployment, End-User, and Region)
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Fortune Business Insights says that the market value stood at USD 3.10 billion in 2020.
By 2028, the market size is expected to reach USD 17.64 billion
The market is expected to grow at a CAGR of 24.1% during the forecast period (2021-2028).
Asia Pacific is anticipated to grow with the highest CAGR.
The solution is expected to lead the market during the forecast period within the component.
Rising adoption of mobility culture among organizations is one of the key drivers for market growth
IBM Corporation and VMWare, Inc. are the top companies in the market.
The healthcare segment is expected to grow significantly at the highest CAGR during the forecast period.