CHICAGO, Aug. 27, 2020
CHICAGO, Aug. 27, 2020 /PRNewswire/ -- According to market research report on "Mobile Device Management Market by Component (Solutions and Services), Deployment (Cloud and On-Premises), Organization Size (Large Enterprises and SMEs), Operating System, Vertical (BFSI, Telecom, Healthcare), and Region - Global Forecast to 2025", published by MarketsandMarkets™, the Mobile Device Management Market size to grow from USD 4.3 billion in 2020 to USD 15.7 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 29.6% during the forecast period.
MDM is a software solution used by enterprises to manage, monitor, and secure mobile devices, such as smartphones, laptops, and tablets, across all mobile platforms in an organization. Mobile Device Management is also used to optimize the security and functionality of connected devices in enterprises, while simultaneously protecting the organization's network.
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The solutions segment to hold a larger market size during the forecast period
Based on component, the solutions segment of the MDM market is projected to hold a larger market size during the forecast period. Enterprises have to monitor several devices in their network, whether they are corporate-owned devices or personal devices of employees. MDM solutions deal with deploying, integrating, securing, monitoring, and managing mobile devices, such as smartphones, laptops, and tablets/phablets in the workplace. For the enterprises dealing with BYOD, MDM is becoming a dynamic solution in ensuring general device management and device security. As many organizations have either permitted or cautiously enabled a BYOD corporate policy, MDM is the foundational technology to manage employee-owned devices. MDM solutions help in device management, application management, security management, and others (mobile email management, mobile kiosk management, and mobile expense management). In today's digital era, the trend of digital transformation has dramatically changed the way businesses function.
By services, the managed services segment to record a higher growth rate during the forecast period
Managed services are offered by third-party vendors that manage software and application updates. These services help organizations monitor various endpoints and ensure that security policies are appropriately configured. Organizations that opt for managed services are able to receive scheduled reports on various devices. Managed services also provide access to industry best practices and deep-rooted transformation expertise without impairing the internal operations of organizations. They offer technical skills that are required to maintain and update the software in the MDM solution.
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Asia Pacific to record the highest growth during the forecast period
The APAC Mobile Device Management Market is estimated to have a strong growth in the future. 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 of 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 own devices in office campuses. The rise in digitalization has also led to concerns related to hacking and data security threats. Countries such as Japan have increased efforts for deploying MDM solutions on each vertical, thus ensuring the regularity and security of data. Various vendors in mobility management have been taking efforts in entering partnerships with the government to offer products to small and large enterprises.
Major vendors of Mobile Device Management Market include VMware (US), Microsoft (US), IBM (US), Blackberry (Canada), Citrix Systems (US), MobileIron (US), Ivanti (US), 42Gears Mobility Systems (India), Matrix42 (Germany), ManageEngine (US), Snow Software (Sweden), Sophos (UK), SOTI (Canada), SAP (Germany), Google (US), Mitsogo (US), Baramundi Software AG (Germany), AppTech (Switzerland), Jamf (US), SolarWinds (US), Quest Software (US), Miradore (Finland), ProMobi Technologies (India), Cisco (US), Samsung (South Korea), Micro Focus (UK), 1Mobility (India), Kandji (US), Addigy (US), Codeproof Technologies (US), and Rippling (US).
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