Mobile device management market forecast at 25.1% CAGR by 2028

As per Zion Market Research study, Mobile Device Management industry amassed revenue worth about US$ 4.5 billion in 2021 and is slated to garner returns of approx. US$ 18.3 billion by 2028, is predicted to record highest gains of nearly 25.1% over the period from 2022 to 2028.

In addition to this, surge in size of mobile device management market in next six years is subject to escalating popularity of information systems owing to its ability in enforcing strong corporate data security.

Rapid use of smartphones for accessing confidential information will create humungous demand for mobile device management solutions in years ahead.

Presence of key participants in ecosystem has led to high competitiveness, thereby paving way for lucrative growth of mobile device management industry. With employees using one or multiple equipment, small & large-sized firms have increased their inclination towards mobile device management activities for improving data & network security as well as enhance employee efficiency. This is likely to spur business landscape.

Mobile device management services have become necessary as it ensures storage security of data stored in smartphones. With rising cyber-security concerns and large-scale installation of mobile device management tools, the market is set to register incredible growth in foreseeable future. Furthermore, firms have experienced swift increment in acceptance of mobile equipment to access sensitive information. Shifting trend from corporate data to cloud-based infrastructure will steer expansion of mobile device management industry.

Industry dynamics:

Growth dynamics
Growth of mobile device management industry over forecasting timespan is owing to rise in data leakage threats from smartphones and iphones. In addition to this, surging bring your own device (BYOD) coupled with surging safety concerns of protecting company data will prompt growth in size of mobile device management market. Furthermore, swiftly expanding fleet of smartphones has enhanced popularity of mobile device management business. Equipment without mobile device management protection is prone to get affected due to malware as well as other virus attacks and this can pose a huge data leak risk, thereby driving market trends.

With onset of new networking technologies such as 5G resulting in massive use of smart equipment, IoT, AI, VR, and AR, the market for mobile device management is anticipated to gain traction in years to come. In addition to this, outbreak of COVID-19 has led firms adopt work-from-home policy and this has resulted into employee working from remote location, thereby posing a threat of data security lapses as well as risk of data theft. This, in turn, will generate huge growth opportunities for mobile device management market.

Network service management segment to lead solutions landscape over 2022-2028
Growth of network service management segment over ensuing years is subject to large number of vendors offering network service management solutions for firms. Apart from this, technological breakthroughs and massive use of smart mobile equipment will contribute significantly towards segmental surge over forecasting years.

Asia Pacific mobile device management market to register highest growth rate over 2022-2028
Expansion of mobile device management industry in Asia Pacific sub-continent over ensuing years is subject to rise in young staff along with use of tablets and smartphones for business purpose. In addition to this, rise in use of BYOD equipment will offer new growth avenues for mobile device management market in Asia Pacific zone. Apart from this, rapid expansion of IT industry in Asia Pacific zone is expected to proliferate growth of mobile device management market in APAC in years ahead.

Key players of mobile device management market:
BlackBerry Ltd., IBM Corporation, Sophos Group plc, Citrix systems Inc., VMware AirWatch, SOTI Inc., MobileIron Inc., NetPlus Broadband, Amtel Inc., SAP SE, Symantec Corporation, Microsoft Corporation.

Key insights & finding:

• As per the analysis shared by our research analyst, the Mobile Device Management Market is expected to grow annually at a CAGR of around 25.1% (2022-2028).
• Through the primary research, it was established that the Mobile Device Management Market was valued approximately USD 4.5 billion in 2021 and is projected to reach to roughly USD 18.3 billion by 2028.
• Asia Pacific zone is expected to proliferate growth of mobile device management market in APAC in years ahead.

CT Bureau