Unified Endpoint Management Market Growth & Trends
The global unified endpoint management market size is expected to reach USD 23.98 billion by 2027, registering a compound annual growth rate (CAGR) of 32.2% from 2020 to 2027, according to the new study conducted by Grand View Research, Inc. The rise in disruptive trends such as Bring-Your-Own-Devices (BYOD), Internet of Things (IoT), and Choose Your Own Device (CYOD) is one of the key attributing factors driving the market growth. The subsequent adoption of such trends among organizations increases IT devices and the burden on IT admins to manage these devices using different platforms or solutions. As a result, the need for a unified solution becomes evident among the organization, which could centrally manage all endpoints.
The disruption in digital technologies has significantly impacted business operations across the globe. As a result, organizations adopt new business models to leverage digital technologies and transform their businesses and markets they operate. With the rise in the hybrid device environment, it becomes paramount for the organization to restructure and update traditional IT device management models and adopt UEM solutions for managing applications and devices. Therefore, the increasing adoption of endpoints and the consequent rising investments in IT solutions to improve business productivity are significantly responsible for a surge in market adoption.
The growing adoption of endpoint devices is becoming more critical as data and applications run on these systems are shared across organizations. Sharing such critical organizational data over the endpoints creates risks of cyberattacks. Furthermore, the cyberthreat risk also increases as the trending policies such as BYOD and CYOD are being implemented, and consumerization of IT grows, wherein employees connect their devices to the organizational network. The increasing risks of cyber-attacks and the need to manage apps and data on personal connected devices influence organizations to adopt UEM solutions to provide an additional layer of encryption policies and security.
Unified Endpoint Management Market Report Highlights
- The solution segment accounted for the largest market share and was valued at USD 1.41 billion in 2019, owing to the growing demand for a solution that could provide mobile device management, mobile security, and mobile application management capabilities
- The large enterprise segment held the largest revenue share of over 75% in 2019 owing to the rise in adoption of BYOD policies, increased cloud-based deployments, and the presence of a higher number of endpoints along with the need to comply with the stringent changing regulations
- The healthcare vertical is estimated to emerge as the fastest-growing segment with a CAGR of 35.3% over the forecast period, owing to the growing adoption of the IoT devices and the increasing investments in IT technologies
- North America was the largest regional market, accounting for over 41% of the overall revenue share in 2019 and is estimated to dominate the market over the forecast period