Mobile Device Management Market To Reach USD 98.71 Billion By 2030 at a CAGR of 27.8% - Valuates Reports
BANGALORE, India, Aug. 10, 2021 /PRNewswire/ -- Mobile Device Management Market By Component (Solution and Service) Deployment Model (Cloud, and On-premise), Enterprise Size (Large Enterprise and Small & Medium Enterprises), and Industry vertical (BFSI, Healthcare, Government and Public Sector, IT & Telecom, Retail, Educational, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030. It is published in Valuates Reports under the Computers & Electronics Category.
The Global Mobile Device Management (MDM) market size was valued at USD 8.49 billion in 2020 and is projected to reach USD 98.71 billion by 2030, growing at a CAGR of 27.8% from 2021 to 2030.
Major factors driving the growth of the mobile device management market are:
- The growing mobile workforce along with the adoption of BYOD to improve worker productivity, by allowing them to work from anywhere, at any time, and access corporate data on the go, has increased demand for MDM solutions.
- Furthermore, the COVID outbreak is expected to boost the mobile device management market due to the imposing of lockdown restrictions and increasing work-from-home culture. Growth in the number of workers working remotely raises the danger of compliance shortages and puts sensitive data at risk. Companies are using mobile device management solutions to boost control and security features in order to mitigate this risk.
- The surge in compliance among enterprises to protect data and the rise in stringent government regulation for mobile device management drive the growth of the market.
- The mobile device management market is expected to grow due to a considerable increase in cloud-based deployment by small and medium businesses. Another significant reason expected to accelerate the expansion of mobile device management is the incorporation of mobile device management capabilities into the UEM suite.
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TRENDS INFLUENCING THE GROWTH OF THE MOBILE DEVICE MANAGEMENT MARKET
Mobile devices store and transmit a massive amount of business and personal data. Although mobile devices have enhanced employee productivity and pleasure, they have also raised security concerns about company data, which may be in danger of being accessed by employees via their mobile devices. As a result, lost or stolen mobile devices, as well as a dishonest employee, could result in the loss of the company's valuable information. IT administrators can remotely lock the device to prevent illegal data access and retrieve the device's location using MDM security processes. Hence the rising security concerns to protect enormous corporate data are expected to increase the growth of the mobile device management market.
Operating in accordance with IT standards and guidelines is of the utmost importance to organizations. However, when there are so many devices to keep track of, it can be difficult to ensure that all of them are compliant. Compliance initiatives can be controlled from a single unified console with mobile device management, allowing for improved protection while adhering to legal standards. This feature is expected to drive the growth of the mobile device management market.
Moreover, MDM frees up resources and manpower for more complex projects by automating many of the time-consuming and labor-intensive operations involved in monitoring a full fleet of mobile devices. This way it reduces the IT needs of organizations.
Due to the high implementation costs of mobile device management solutions, small and medium-sized organizations are unable to provide an effective MDM solution, limiting the market's growth. In addition, there are a variety of charges associated with MDM services such as consultancy, maintenance, installation, integration, upgrades, and so on. This is the primary stumbling block to the market's expansion.
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MOBILE DEVICE MANAGEMENT MARKET SHARE ANALYSIS
Based on industry verticals, the IT & telecom sector is projected to be the major end-user during the forecast period. However, the education segment is projected as one of the most lucrative segments.
Based on region, Asia-Pacific and Europe dominated the market in 2020. Asia-Pacific is expected to exhibit the highest CAGR of 28.9% during 2020-2030
Based on deployment, the Cloud segment is projected as one of the most lucrative segments.
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Mobile Device Management Market Key Segments
By Component
- Solution
- Service
By Deployment Model
- Cloud
- On-premise
By Enterprise Size
- Large Enterprises
- Small & Medium Enterprises
By Industry vertical
- BFSI
- Healthcare
- Government & Public Sector
- IT & Telecom
- Retail
- Educational
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
The key players profiled in the mobile device management industry include Citrix Systems Inc., Microsoft Corporation, Blackberry Ltd., IBM Corporation, Samsung Electronics, Cisco System Inc., Vmware Inc., SAP SE, Quest Software, Sophos Ltd.
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