Chicago, Oct. 14, 2022 (GLOBE NEWSWIRE) -- The Global Mobile Device Management Market size to grow from USD 5.5 billion in 2021 to USD 20.4 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 29.8% during the forecast period, according to a new report by MarketsandMarkets™.
The presence of various key players in the ecosystem has led to competitive and diverse market. Mobile device management solutions allow IT teams and admins to control and distribute security policies to mobile devices accessing sensitive corporate data in their organizations, ensuring the corporate network is secure. With more employees using one or all of these devices, organizations across all shapes and size are now turning to mobile device management for enhanced data and network security and improved employee productivity. MDM solutions enable IT admins to configure enterprise-grade security policies on mobile devices, making them corporate ready.
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Among Components, the Solutions is expected to hold the larger market size with mobile device management in 2026. MDM is the foundational technology to manage employee-owned devices. The growth of this segment can be attributed to the increasing use of solutions that can be easily integrated with new features and functionalities.
By Organization size, large enterprises are expected to hold the largest market size Large enterprises hold a larger market size in the present market, as the segment has already shown major adoption and implementation of mobile device management services. The use of smartphones and tablets to access business applications has become a common practice in large enterprises. The growth of the large enterprises segment in the MDM market can be attributed to the increasing adoption of mobile devices among businesses and the importance of mobile applications as an effective medium of connecting organizations, their customers, and their employees.
By Deployment mode, cloud is expected to hold the largest market size. Benefits include flexibility, scalability, affordability, operational efficiency, and low costs. This is due to the associated functionalities and core features. The additional benefits of cloud-based solutions include effectiveness while being used by various users, reduced upfront costs, easy rolling out of new projects, zero hardware investments, low maintenance costs, and minimized infrastructure costs.
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By operating system, Android is expected to hold the largest market share. As individual developers can generate revenue by posting an application on Google Play Store, various developers are developing new and innovative applications for the Android OS and deploying them on Google Play. People are expected to prefer the Android OS in the future due to its rich application ecosystem.
By Vertical, BFSI is expected to hold the largest market share. Several companies in the BFSI sector are increasingly focusing on enhancing workplace mobility and improving employee productivity and satisfaction, thereby adopting MDM solutions for these benefits.
APAC is expected to grow at the highest CAGR during the forecast period. The Mobile Device Management Market in APAC is expected to experience strong growth in the coming years due to the constant economic growth, increasing the young workforce, and the usage of tablets and smartphones for business purposes will lead toward the adaptation of enterprise mobility solutions to meet the growing demands for securing and protecting critical data. The dependence on the BYOD trend is expected to be an emerging one in India, as the country is home to several mid-sized and large enterprises that have enabled employees to carry their devices in office campuses.
The key and emerging market players in the Mobile Device Management Market include VMware (US), Microsoft (US), IBM (US), Blackberry (Canada), Citrix (US), Google (US), Cisco (US), Samsung (South Korea), Micro Focus (UK), ZOHO (India), SolarWinds (US), SAP (Germany), Quest Software (US), Ivanti (US), Sophos (US), SOTI (Canada), Jamf (US), Qualys (US), Snow Software (Sweden), Matrix 42 (Germany), Rippling (US), 42Gears (US), ProMobi (India), Baramundi (Germany), Mitsogo Inc (US), Codeproof technologies (US), AppTec (Switzerland), Addigy (US), Kandji (US). These players have adopted several organic and inorganic growth strategies, including new product launches, partnerships and collaborations, and acquisitions, to expand their offerings and market shares in the global Mobile Device Management Market.
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