Mobile device management market to reach $20.4 billion by 2026
The global mobile device management market size to grow from $5.5 billion in 2021 to $20.4 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 29.8% during the forecast period, according to MarketsandMarkets. The presence of various key players in the ecosystem has led to competitive and diverse market.
Mobile device management solutions allow IT teams and admins to control and distribute security policies to mobile devices accessing sensitive corporate data in their organizations, ensuring the corporate network is secure. With more employees using one or all of these devices, organizations across all shapes and size are now turning to mobile device management for enhanced data and network security and improved employee productivity. MDM solutions enable IT admins to configure enterprise-grade security policies on mobile devices, making them corporate ready.
The services to record a higher growth rate in the mobile device management market
In the mobile device management market by component, the services is expected to record a higher growth rate during the forecast period. Services play an important role in managing mobile devices within an enterprise environment.
A majority of MDM vendors offer support services to enterprises for driving more business revenue. They offer two major types of services: professional services and managed services. Professional services have been further categorized into three types: consulting services, implementation services, and support services. The services market holds a substantial share of the total mobile device management market and is expected to grow at a high rate.
Large enterprises are expected to hold a larger market share
By Organization size, large enterprises are expected to hold the largest market size Large enterprises hold a larger market size in the present market, as the segment has already shown major adoption and implementation of mobile device management services. The use of Smartphone’s and tablets to access business applications has become a common practice in large enterprises.
The growth of the large enterprises segment in the MDM market can be attributed to the increasing adoption of mobile devices among businesses and the importance of mobile applications as an effective medium of connecting organizations, their customers, and their employees.
Cloud deployment is expected to have a higher growth rate
By Deployment Mode, cloud is expected to have a higher growth rate. Benefits include flexibility, scalability, affordability, operational efficiency, and low costs. This is due to the associated functionalities and core features.
The additional benefits of cloud-based solutions include effectiveness while being used by various users, reduced upfront costs, easy rolling out of new projects, zero hardware investments, low maintenance costs, and minimized infrastructure costs.
iOS is expected to have a higher growth rate
By Operating system, iOS is expected to have a higher growth rate. iOS is Apple’s proprietary OS and is specifically designed to function on Apple devices. The company offers iOS in several devices, such as the iPhone, which is the company’s flagship product. iOS contributes a significant share to the overall mobile OS segment.
Apple provides several in-built security functions and software updates to offer maximum security for its mobile devices. These devices include boot and runtime protections for maintaining the integrity of devices during the ongoing mobile operations. The iOS security model only allows the installation of applications that have been signed by Apple.
North America to hold the largest market size in the mobile device management market
North America is expected to hold the largest market size in the global mobile device management market during the forecast period. with large-scale implementations of mobile device management solutions by enterprises over the last few years. This region has been extremely responsive toward adopting the latest technological advancements, including mobile devices, cloud computing, and IoT, within enterprises.
The US is the major contributor across North America, as continuous innovation as well as the introduction of new technologies are the key factors driving the growth of the US market.