The Mobile Device Management Market was valued at USD 3.40?billion in 2019?and is expected to reach USD 10.67 billion by 2025, at a CAGR of 21% over the forecast period 2020?- 2025. The rapid rise of BYOD has become an untouchable force across the business landscape, earlier which was a host of mobile devices is now an important consideration for every organization. With a rapidly expanding fleet of mobile devices, businesses today need a platform that offers a high level of oversight and robust data protection.
- With the rapidly increasing trend of BYOD, there comes a new set of considerations for connectivity, security, management, and privacy. Employees in every enterprise have different mobile service providers, also the devices run on different operating systems. The inherent risks associated with the BYOD policy has given rise to mobile device management (MDM) software which is used by an IT department to manage, monitor, and secure employees smartphones, laptops, tablets, and other mobile devices that are being used in the workplace.
- Earlier solutions focused primarily on devices and lacked the management of application and content. Today, the service providers are increasingly focusing on a broader EMM (enterprise mobility management) solution to better capture and serve the mobile opportunity.
- Without this solution, important information on a stolen or lost device is not secure enough, which enables it to easily fall into wrong hands. Moreover, devices without MDM protection have increased exposure to malware and other virus attacks that could compromise the confidential data stored in it. If that confidential data is compromised, that can permanently affect an organization’s reputation with consumers and other business partners, which is one of the most important factor driving the market forward.
Scope of the Report
Mobile device management (MDM) is a software that enables IT, teams, to control, secure and enforce policies on smartphones, tablets, and other mobile devices. Mobile device management software is often combined with additional security services and tools such as mobile application management to create a complete mobile device and security enterprise mobility management solution.
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, as 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 to enroll, lock, manage, and protect devices from a remote location. Modern mobile devices use different operating systems which demands regular firmware updates of their platforms for the smooth functioning of the device. A cloud-based MDM solution enables faster response to such update requirements as compared to that of an on-premises solution.
- Most of the industry verticals, such as manufacturing, telecom, transportation, utilities, logistics, and retail, prefer cloud-based MDM solutions owing to the various advantages it presents. Moreover, the Small and Medium-sized Enterprises (SMEs) are also rapidly moving towards the cloud deployment solutions, due to budget constraints and the ease of accessibility of cloud-based MDM solutions.
North America is Expected to Hold the Largest Market Share
- Growing smartphone penetration and technological advancements are driving the market across the North American region. The US is the leading market across North America, Canada. Many organizations in the North American region are adopting enterprise mobility solutions to meet the requirement of the increasing dynamic mobile workforce, which in turn is fueling the demand for mobile device management solutions across the region.
- The companies operating in the mobile device management in the region, primarily adopt acquisition as a major business strategy, which in turn helps them to increase their product offerings in order to expand their reach globally. In addition, mergers and focus on research and development are some of the prime strategies adopted by the players operating in this market.
- The region has witnessed increased adoption of MDM solutions within organizations primarily to protect their content from piracy and data breaches, cyber-attacks, web and network threat security, and severe data losses.
The mobile device management market is highly competitive owing to the presence of many small and large players operating and providing solutions in domestic as well in the international market. The market appears to be moderately concentrated with major players adopting strategies like product innovation and mergers and acquisitions to expand their reach and stay ahead of the competition. Some of the major players in the market are Cisco Systems Inc., SAP SE, Kaspersky Lab Inc., IBM Corporation among others.
- February 2019 - Verizon expanded its offerings to help organizations accelerate their digital transformation to support 5G capabilities. Verizon’s virtual network services will support 5G devices on Cisco’s software-defined wide area network (SD-WAN) platform, making it easier to manage network traffic and application performance across a wide area network on both public and private networks.
- September 2019 - Kaspersky launched a new service, Kaspersky Incident Communications to help the communications professionals to deal effectively with an IT security breach. It also includes training sessions and workshops for information security leaders and corporate communications teams. It also advises personnel on efficient operation security tools for communication security, and suggest best practices to handle communications internally and externally while an organization is under attack.
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