According to market research, the global Mobile Device Management Market generated earnings of approximately 4.5 (USD Billion) in 2021 and is expected to generate revenues of approximately 18.3 (USD Billion) by 2028, representing a compound annual growth rate (CAGR) of nearly 25.1 percent over the period from 2022 to 2028.
Mobile phone and tablet management are two terms that refer to the administration of devices that allow the user to conduct certain tasks on their devices. In addition to enrollment and device provisioning capabilities as well as location tracking and device security are included. If an employee’s mobile device is lost or stolen, it can also assist them in deleting the data on it. MDM tools also have the capability of tracking inventories, enforcing security standards, and providing real-time reporting and monitoring.
There has been a significant surge in the use of BYOD (Bring Your Own Device) in the workplace, which has led to an increase in the need for mobile device management (MDM). In addition, there has been a significant increase in the need for mobile device management as a result of stricter government regulations.
According to mobile device management industry trends, small and medium-sized businesses are expected to significantly increase their use of cloud-based mobile device management in the future years. Another important element that is expected to boost the expansion of Android device management in the near future is the inclusion of mobile device management capabilities into the UEM suite.
Reduced adoption of Bring Your Own Device (BYOD) among enterprises, as well as people’s reluctance to use mobile device management solutions on their personal devices, are expected to restrain the growth of the mobile device market potential in the coming years, according to industry analysts. Although productivity is increasing at both the corporate and personnel levels, the total growth of the industry is expected to accelerate in the coming years. Furthermore, the introduction of 5G is likely to alter the significance of mobile devices, which is predicted to result in the expansion of the worldwide mobile device management market size.
Impact Assessment of COVID-19
With the continued development of COVID-19, the global economy has become one of the most serious dangers it has ever faced. It is generating widespread fear and economic suffering for consumers, businesses, and communities in every part of the world. The “new normal,” which includes social isolation and working from home, has generated difficulties with daily activities, regular work, needs, and supplies, resulting in the postponement of projects and the passing up of possibilities, among other consequences.
The COVID-19 epidemic is having a negative influence on society and the general economy all around the world. Day by day, the impact of this outbreak is becoming more severe, and it is also harming the supply chain. Because of this, there is uncertainty in the stock market, a decrease in corporate confidence, a significant slowdown in the supply chain, and an increase in fear among customers. The closure of manufacturing facilities in the region has resulted in a significant loss of business and income for European nations that have been placed under lockdown. The outbreak of COVID-19 has had a significant influence on the operations of the production and manufacturing industries, which has resulted in a slowdown in the growth of the mobile device management market study in 2020, according to the report.
Global manufacturing and industrial sectors have been badly damaged by the COVID-19 pandemic, according to mobile device management market trends, as production facilities have been halted, resulting in substantial demand for mobile device management solutions across industries.
The introduction of COVID-19 has slowed the growth of the mobile device management market forecast in 2020, and the market is expected to continue to expand slowly through the end of 2021, according to estimates. Part of the cause for this reduction in growth rate is the widespread implementation of partial or total lockdown in many nations throughout the world. Because factories were forced to close for a period of time, the requirement for maintenance from diverse industries was decreased.
Overview of the Segment
It is possible to separate the mobile device management market share according to component, deployment methodology, enterprise size, industrial sector, and geographic location. It is divided into two categories based on the component: solution and services. On the basis of deployment model, it is classified into two categories: on-premises and cloud. It is divided into two categories based on the size of the enterprise: major companies and small and medium-sized firms. The market is segmented into industrial verticals such as BFSI, healthcare, government & public sector, information technology & telecommunications, retail, education, and others. It is broken down into four regions: North America, Europe, Asia-Pacific, and Latin America and the Caribbean, as well as the nations that make up each region.
Analysis of the Competition
Companies such as Citrix Systems Inc. and Microsoft Corporation, as well as BlackBerry Ltd. and IBM Corporation, Samsung Electronics and Cisco System, as well as Vmware Inc. and SAP SE and Quest Software and Sophos Ltd., are featured in the Mobile Device Management industry report (PDF). To increase their market penetration, these main companies have implemented tactics such as product portfolio growth, mergers and acquisitions, partnerships, geographical expansion, and collaborations.
The Most Important Factors
The growth in the number of data and mobile devices in businesses, as well as the increase in the BYOD culture in organizations, are two notable aspects that are positively impacting the mobile device management industry. The high implementation costs and lack of knowledge in underdeveloped countries, on the other hand, are likely to provide significant challenges to the mobile device management industry. Furthermore, the increase in business adoption of cloud-based technology is likely to create attractive potential prospects for the market in the future years.
Organizations are experiencing an increase in the use of data and mobile devices.
Data consumption and internet penetration among various industries have increased significantly in recent years, which has been one of the primary drivers behind development in the industry in emerging markets and developing nations. Aside from that, various companies are implementing mobile devices for their employees because of the numerous benefits they provide, including improved communication among enterprises, the ability to work from any location, reduced operational costs, time savings, and increased productivity of employees among others.
Additionally, firms are expanding their use of mobile devices in order to improve the performance of their employees and provide better customer service to their customers. Mobile devices also enable a wide range of services in a variety of companies, including healthcare, transportation, and media, resulting in an increase in the quantity of data generated in the sector overall. Due to a rise in demand for mobile device management, the market is expected to develop at a faster rate in the coming years.
Implementation costs are quite high.
Because of the high installation costs of mobile device management solutions, small and medium-sized organizations are unable to deliver an efficient MDM solution, resulting in a reduction in market growth. Additional costs connected with MDM services include consultation, maintenance, installation, integration, updates, and a variety of additional services. For example: This is the most significant constraint on the market’s expansion.
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