Pune, India, July 12, 2022 (GLOBE NEWSWIRE) -- The global mobile device management market size hit USD 3.97 billion in 2021. The market value is slated to rise from USD 4.75 billion in 2022 to USD 21.30 billion in 2029, exhibiting a CAGR of 23.9% during the forecast period. The market is expanding due to increasing adoption of mobile-related software across various industries, such as BFSI and IT & telecommunications, says Fortune Business Insights in its report titled, “Mobile Device Management Market, 2022-2029”.
Key Industry Development-
May 2022: VMware, Inc. and Wipro Limited have formed a partnership that allows consumers to experiment with cloud flexibility while maintaining business control as businesses implement strategic transformations. This partnership combines Wipro Full Stride cloud services with VMware Cross-Cloud services to enable global enterprises to improve app modernization while lowering the cost, complexity, and risk of cloud migration.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 23.9% |
| 2029 Value Projection | USD 21.30 billion |
| Base Year | 2021 |
| Mobile Device Management Market Size in 2021 | USD 3.97 billion |
| Historical Data for | 2018 to 2020 |
| No. of Pages | 160 |
| Segments covered | Deployment, Enterprise Size, End-user and Geography |
| Mobile Device Management Market Growth Drivers | Rising Adoption of Mobility Culture among Organizations to Aid Market Growth |
| High Implementation Cost of MDM Solution in SMEs and Security Issues to Restrict Market Growth |
Rising Demand for Mobile Device Management in Healthcare and Other Industries Will Help Growth
Due to the worldwide impact of the COVID-19 pandemic and its economic ramifications, market participants have found it difficult to respond. According to International Data Corporation (IDC), the global IT and business anywhere market is expected to fall by 1.1% in 2020 and rise by slightly more than 1% in 2021, according to International Data Corporation (IDC). The COVID-19 pandemic has forced many businesses to relocate their processes from the office to the home.
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Drivers & Restraints-
Market Growth is Being Assisted by Organizations Adopting Mobility Cultures
One of the key driving factors behind this culture is personal equipment, which provides more advanced features than company-owned devices and enables work to be done at anytime and anywhere. Smartphones and tablets have become many people's preferred workplace technologies. While mobility is becoming more common in academic and corporate settings, it also necessitates more robust data and content security to prevent the misuse of mission-critical data. However, due to the high implementation cost of MDM systems, small and medium-sized businesses cannot provide an efficient MDM solution, limiting the mobile device management market growth.
Report Coverage-
The research report provides qualitative and quantitative insights into the product and a detailed analysis of market size and growth rate for all possible market segments. In addition, the report discusses market dynamics, emerging trends, and competitive landscape.
Segments-
By Deployment, Cloud to Hold Major Market Share
Based on deployment, the market is divided into cloud and on-premise.
The cloud segment is believed to have a major market share during the forecast period due to its smooth, scalable, and flexible features. Cloud-based solutions enhance IT workers' functionality by enabling remote management, enrollment, locking, and device safeguarding. Modern mobile devices run various operating systems, necessitating regular product performance updates to keep them running smoothly.
By Enterprise, Large Enterprise to Hold Major Market Share
Based on enterprise size, the market is divided into SMEs and large enterprise.
In 2021, the large enterprise segment was expected to have the greatest market share. This is mainly attributed to leading players, such as VMware, Inc., Microsoft Corporation, and others, increasing their investments in IT and cloud security solutions and product launches worldwide.
By End-user, Adoption of MDM Software across IT & Telecommunication Industry to Boost Market
The market is divided into BFSI, IT & telecommunication, government, healthcare, retail, and others based on end-user.
The healthcare segment has the largest market share due to high-value data and content that requires security-related treatment. The healthcare segment frequently has higher security requirements than other industries to protect information and sensitive documents.
Geographically, the market is classified into Asia Pacific, North America, South America, Europe, and the Middle East & Africa.
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| Mobile Device Management Market Segments | By Deployment
|
By Enterprise Size
| |
By End-user
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Regional Insights
During the forecast period, the North American mobile device management market share is expected to be the largest, representing 42.3% of the overall market. The region's expansion can be attributed to multinational corporations actively upgrading their mobile IT infrastructure to meet the demands of changing competitive environments and keep up with the significant regional variation in compliance rules.
During the projection period, Asia Pacific is expected to grow fastest. Rising urbanization and an increase in demand for managing an increasing number of mobile devices are two areas that are likely to provide opportunities for MDM providers. Indian and Chinese economies are expected to surge the demand for mobile device management in this region.
The European market is experiencing significant growth in adoption practices and rising awareness and data security concerns. MDM solutions are most widely used in Germany, Spain, and the U.K. Companies are rapidly adopting mobility solutions to reduce hardware costs and increase productivity. These solutions dominate this region's market.
List of Key Market Players:
- VMware Inc. (U.S.)
- IBM Corporation (U.S.)
- Microsoft Corporation (U.S.)
- Checkpoint Software Technologies Ltd. (Israel)
- Soti Inc. (Canada)
- Scale Fusion (India)
- Citrix Systems Inc. (U.S.)
- Miradore Ltd. (Finland)
- Hexnode (U.S.)
- Codeproof Technologies Inc. (U.S.)
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Major Table of Contents:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global Mobile Device Management Key Players Market Share Insights and Analysis, 2021
- Global Mobile Device Management Market Size Estimates and Forecasts, By Segments, 2018-2029
- Key Findings
- By Deployment (USD)
- Cloud
- On-premise
- By Enterprise Size (USD)
- SMEs
- Large Enterprise
- By End-user(USD)
- BFSI
- IT & Telecom
- Government
- Healthcare
- Retail
- Others (Transportation, Education, etc)
- By Region (USD)
- North America
- Latin America
- Europe
- Middle East & Africa
- Asia Pacific
- North America Mobile Device Management Market Size Estimates and Forecasts, By Segments, 2018-2029
- Key Findings
- By Deployment (USD)
- Cloud
- On-premise
- By Enterprise Size (USD)
- SMEs
- Large Enterprise
- By End-user(USD)
- BFSI
- IT & Telecom
- Government
- Healthcare
- Retail
- Others (Transportation, Education, etc.)
- By Country (USD)
- United States
- By End-User
- Canada
- By End-User
- Mexico
- By End-User
- United States
- South America Mobile Device Management Market Size Estimates and Forecasts, By Segments, 2018-2029
- Key Findings
- By Deployment (USD)
- Cloud
- On-premise
- By Enterprise Size (USD)
- SMEs
- Large Enterprise
- By End-user(USD)
- BFSI
- IT & Telecom
- Government
- Healthcare
- Retail
- Others
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