There are very less companies in the world that are not moving towards becoming mobile enterprise. With growing use of mobile devices and with introduction of Mobile Enterprise Application Platform (MEAP), development of mobile based application to suit enterprises is on the rise. On the other hand, even the enterprises are falling in line to make their enterprise mobile oriented as they want to reach their customers more swiftly and in an efficient manner. This has given rise to introduction of programs like Bring Your Own Device (BYOD) and Corporate-Owned Personally Enabled (COPE) within the organizations.
Use of mobile technologies has its own advantage where, for example, a sales team of an organization can quickly respond to the queries of customer on-the-go. Also, mobile, no doubt brings agility within the organization; it also comes with certain risk factors associated with it. Consider a situation where two employees sitting at different locations are exchanging corporate data using mobile device which they also use for personal purposes. A small vulnerability that exists in either of the mobile would mean that the security of the data being exchanged is certainly compromised. This poses a serious threat to the company if the data involved in exchange is crucial for company’s competency and strategic initiatives.
In order to avoid such situations, those businesses that are going mobile are proactively adopting solutions like Enterprise Mobile Security, which not only gives security to data but also ensures peace of mind to the companies using it.
Enterprise Mobile Security market growing upwardly Increase in mobile related attacks targeting enterprises’ digital assets has prompted business to adopt Enterprise Mobile Security solutions and this would mean that the demand for this software is set to go up.
The market for Enterprise Mobile Security is expected to grow at a healthier CAGR. The growth trend is expected to continue at least till the next five years and it is expected that, going forward, more and more businesses would sought for these kinds of solutions.
Asia-Pacific region is witnessing the maximum growth Although, North America and the European region contribute to more than 70% of the overall revenue for Enterprise Mobile Security, the Asia-Pacific region is turning out to be the showstopper in terms of growth rate. The reason being, that this market, until now had remained untapped and use of mobile technologies for corporate use was also limited. However, due to recent surge in use of mobile devices by individuals in this region, the enterprise use of mobile phones is also growing. This has prompted businesses here to go for solutions like Enterprise Mobile Security as a precautionary step to avoid any attacks or damages to their corporate data. Businesses here are also growing wise and have started realizing the importance of securing their data. This again is pushing the demand for Enterprise Mobile Security in this region.
Traditional On-premise paving way for cloud based solutions; Financial and Healthcare have emerged as the major users Uses of traditional on-premise Enterprise Mobile Security is still under use and are mostly preferred by large enterprises who seek for more control over the security of their data. However, due to high costs and complexities involved in managing these solutions, small and medium businesses prefer to go for cloud based solutions. Also, enterprises have also started to partially implement cloud based mobile security solutions for not-so-critical kind of digital assets. This is slowly having a turnaround effect and the revenue from cloud based solutions is also rising.
Among the verticals, financial and healthcare industries have contributed more to the overall revenue. This is obvious, as both these organizations deal with critical customer info and has larger use of mobile within the internal workforce. Also, certain governmental regulations (like for example, HIPAA in the United States) is also prompting these industries to voluntarily implement these solutions. Other than these other verticals like manufacturing, retail, education are also expected to start adopting these solutions more vigorously. It is expected that solutions like these, in the long run, would become vertical independent and whatever may be the nature of the business carried out, companies would start adopting Enterprise Mobile Security solutions.
ChallengesThe market for Enterprise Mobile Security is growing but there are certain challenges that the solution providers need to overcome so that the market grows at its full potential. Among these challenges include the lack of awareness among businesses. Apart from the countries like the United States, Canada, Germany, United Kingdom and some other European and Asia-Pacific countries, there is no strong market for such solutions. Some countries like China, Brazil and India have great capabilities to become potential markets but lack of proper awareness and hesitance of the users to invest in new solutions is holding back the market.
Addressing these issues and also coming up with new solutions that are highly cost effective would prove to be boon to the small and medium businesses and also to the solution providers as this would help them flourish in the growing market.