Mobile device management market worth $22.0 bn by 2027
The Global Mobile Device Management Market size is expected to grow from USD 6.9 billion in 2022 to USD 22.0 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 26.1% during the forecast period, according to Markets and Markets.
Services segment is to grow at the highest CAGR during the forecast period
Services are vital for managing mobile devices in a corporate setting. Most MDM suppliers provide support services to businesses in order to increase income. Professional and managed services are the two main categories of services they provide. The three subcategories of professional services include consulting, implementation, and support services.
MDM service providers make money by helping businesses select the right MDM solution depending on their needs. By educating the IT staff to properly implement the deployed MDM systems, they also aid in the installation process of MDM solutions. On the other side, managed services assist firms in reducing security risks and safeguarding company data. Overall, effective service delivery increases operational effectiveness, system reliability, and cost savings for businesses.
Security management segment is expected to grow at a higher CAGR during the forecast period
Trends like BYOD and CYOD are prevalent in businesses. Because of this, companies give workers access to sensitive information via their own devices in order to boost productivity. The organization is now more vulnerable to hacks because employees can now access the company’s critical data from their devices. By identifying latent data breach incidents across the corporate network, security management systems assist enterprises in protecting this data that is accessed and shared via mobile devices.
With a prompt response to a potential data breach, it tracks, notifies, and avoids incidences of data loss. With the use of geofencing, app-sharing permissions, and restriction controls, the solution secures company data. Any malware attack that enters the network port is monitored, detected, and alerted to, and the device is automatically fixed utilising remote lock and quarantine management. Passwords, Personal Identification Numbers (PINs), screen lock patterns, and other restrictions can also be set using this tool. Data security, device security, and application security are the main features of the security management solution. The security management solution protects company data and gives mobile users a superior, hassle-free experience.
North America region to record the highest growing region in the Mobile Device Management Market
The MDM market in North America accounts for the biggest market share. One of the drivers of market expansion, along with digitalization, is the desire to boost mobile devices’ productivity and efficiency. Employees in the US and Canada have an increased reliance on BYOD and CYOD trends that give them real-time access to a variety of data and applications, which has also prompted the region to adopt MDM solutions. Employers of all sizes routinely permit their staff members to use their mobile devices at work. Because of the compact nature of mobile devices, it has been simple to carry sensitive firm data, but the risk of data loss and security breaches has significantly increased. Governments have prepared a number of protective strategies to safeguard data. An example of a set of requirements is the Critical Infrastructure Protection (CIP) plan of the North American Electric Reliability Corporation (NERC), which is intended to secure the resources needed to run the bulk electric system in North America. Technicians are using mobile devices—from smartphones to tablets—more frequently to maintain vital infrastructure.
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