Mobile Device Management (MDM) solutions allow IT teams and admins, to control and distribute security policies to mobile devices accessing sensitive corporate data in their organisations, ensuring the corporate network is secure. With more employees using one or all of these devices, organisations across all shapes and sizes are now turning to MDM for enhanced data and network security and improved employee productivity. These phenomena drive the global mobile device management market to grow from $ 5.5 billion in 2021 to $ 20.4 billion by 2026.
According to a new market research report - Mobile Device Management Market by component, solutions, application, deployment mode, organisation size, operating system vertical and region - Global Forecast to 2026, published by MarketsandMarkets, the global MDM market size is anticipated to grow at a CAGR of 29.8% till 2026.
Various key players in the ecosystem have led to a competitive and diverse market. MDM solutions enable IT admins to configure enterprise-grade security policies on mobile devices, making them corporate ready.
In the MDM market by component, the services are expected to record a higher growth rate during the forecast period. Services play an essential 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 categorised into three types: consulting, implementation, and support services. The services market holds a substantial share of the total MDM market and is expected to grow at a high rate, the report said.
Some of the key and emerging market players in the MDM market include VMware, Microsoft, IBM, Blackberry, Citrix, Google, Cisco, Samsung, Micro Focus, ZOHO, SolarWinds, SAP, Quest Software, Ivanti, Sophos, SOTI, Jamf, Qualys, Snow Software, Matrix 42, Rippling, 42Gears, ProMobi, Baramundi, Mitsogo, Codeproof Technologies, AppTec, Addigy and Kandji.
According to the report, the large enterprises are expected to hold a larger market share during the forecast period. Large enterprises are expected to hold the largest market size by organisation size. Large enterprises hold a larger market size in the present market, as the segment has already shown significant 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 organisations, their customers, and their employees.
MarketsandMarkets noted that Cloud deployment is expected to have a higher growth rate during the forecast period.The cloud is expected to have a higher growth rate by deployment mode. 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 various users use, reduced upfront costs, easy rolling out of new projects, zero hardware investments, low maintenance costs, and minimised infrastructure costs.
The research report noted that iOS is expected to have a higher growth rate during the forecast period, based on the operating system. iOS is Apple's proprietary OS specifically designed to function on Apple devices. The company offers iOS on 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 ongoing mobile operations. The iOS security model only allows the installation of applications that Apple has signed.
The report also identified that North America will hold the largest market size 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 and the introduction of new technologies are the key factors driving the growth of the US market, the research firm noted.
Courtesy: MarketsandMarkets. NB: Photo is representational; courtesy: Cisco.