The Mobile Device Management Market is expected to grow at a CAGR of 21% over the forecast period. Mobile device management (MDM) solutions are expected to empower the IT team in any company across various end-user verticals. Today, service providers are increasingly focusing on broader enterprise mobility management (EMM) solutions to capture better and serve the mobile opportunity. PIN enforcement, remote access, security analysis, jailbreak/root detection, data encryption, data loss prevention (DLP), and application tunnels are some of the critical functions offered by these solutions.
- The rising adoption of Bring Your Device (BYOD) and the growing security concerns to protect an enormous amount of corporate data are significant factors influencing the growth of the MDM market. The proliferation of BYOD has become an apparent force across the business landscape. The rapidly expanding fleet of mobile devices has become an essential consideration for every organization. It drives them to deploy a platform that offers high oversight and robust data protection.
- Devices without the protection of an MDM are at an increased risk of malware and other virus attacks that could compromise the confidential data stored. Any compromise in personal data can permanently affect an organization's reputation with its consumers and other business partners, which is one of the most critical factors driving the market.
- At the same time, mobile device manufacturers are working towards equipping the devices with built-in 5G components to exploit the full potential of 5G networks. Such efforts are considered to be the key to low latency and high-speed management of the devices. 5G services support various services and associated service requirements across multiple scenarios.
- With 5G expected to reach the enterprise space soon, businesses would need to redesign their enterprise mobility strategies. This is because 5G will increase the adoption of smart devices, wearables, AI, IoT, AR, and VR across industries. Therefore, requiring proper management solutions to simplify device management.
- Due to the outbreak of Covid-19, service firms are increasingly embracing work-from-home culture. Any employee working remotely significantly increases the risk of a compliance deficiency and poses a threat to firms' most sensitive data. To mitigate these risks, firms need to undertake countermeasures like adopting mobile device management applications to increase supervision and security features, which will only boost MDM systems' market demand.
Key Market Trends
Cloud Based Deployment is Expected to Dominate the Market
- The cloud-based deployment is expected to witness a faster growth rate in the market. The solution is being rapidly adopted by various organizations in the corporate landscape, owing to its flexible, smooth, scalable, and affordable characteristics.
- Moreover, cloud-based solutions empower IT teams, with functionality, such as enrolling, locking, managing, and protecting devices from a remote locations. Modern mobile devices use different operating systems that demand regular firmware updates of their platforms for the device's smooth functioning. A cloud-based MDM solution enables a faster response to such update requirements than an on-premises solution.
- Most industry verticals, such as manufacturing, telecom, transportation, utilities, logistics, and retail, prefer cloud-based MDM solutions due to their various advantages. Moreover, Small and Medium-sized Enterprises (SMEs) are also rapidly moving toward cloud deployment solutions due to budget constraints and the ease of accessibility of cloud-based MDM solutions.
- As a result of the COVID-19 pandemic, private and public enterprises are increasingly allowing their staff to work from home. Growth in remote workers 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 to mitigate this risk. During the projected mobile device management market period, this presents a profitable opportunity to drive sector growth. MEs are the ones that are currently suffering the most.
- The worldwide economy has been impacted by COVID-19. Energy, oil and gas, transportation and logistics, manufacturing, and aviation are among the financial and industrial sectors where it has had a substantial economic influence. The world economy is expected to enter a recession due to the loss of dollars.
North America is Expected to Hold the Largest Market Share
- North America is one of the prominent markets, primarily attributed to the increasing demand for advanced technology across numerous regional end-user industries. Additionally, the evolution of device management technologies is aiding the market's growth in the region.
- BYOD trends across the US enterprises, which was once 53% of enterprises not having a formal BYOD policy (according to systems integrator Champion Solutions Group, 2015), have shown a steady rise in the last few years. Further, with Small Businesses making up 99.9% of all business activity in the region, the region provides significant opportunities for mobile device management vendors.
- The US plays a crucial role in generating the region's demand compared to Canada due to increased smartphone adoption, technological advancements, rising BYOD penetration, increasing deployment of 5G services, and the need for security. Over the forecast period, the country is expected to dominate the global market, owing to its developed infrastructure across various end-user industries.
- Many regional organizations are increasingly deploying enterprise mobility solutions that help manage the increasingly dynamic mobile workforce and protect their content from data breaches, cyber-attacks, web and network threat security, and severe data losses. This is fueling the demand for mobile device management solutions across the region.
- With the recent coronavirus pandemic, the region's governments have locked down physical access for businesses. Owing to this, remote working environments are expected to rise in the coming months, paving the way for cybercriminals to exploit the curiosity and fear surrounding the outbreak. Hence, it is essential to manage information flow and restrict intruders' access. Such factors may act in favor of the market studied.
The mobile device management market is highly competitive, owing to the presence of many small and large players operating and providing domestic and domestic solutions in the international market. The significant players are adopting strategies like product innovation, and most large vendors offer Mobile Device Management as a part of their Enterprise Mobility Management(EMM) offerings. Some of the recent developments in the market are:
- May 2022 - ArborXR announces strategic collaboration with Qualcomm to help companies scale VR and AR device deployments. This partnership will result in tremendous benefits for customers and partners to manage large-scale deployments with a kiosk mode and a customizable launcher.
- July 2022 - Acquisition and integration of Miradore into the GoTo Resolve product provide simple, secure, and flexible end-to-end support and management of all devices for small and midsize businesses. The innovations also allow IT teams, to leverage automation and improve management and security for any application delivered to any device or cloud.
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