Albany, NY -- (SBWIRE) -- 02/14/2017 -- An information technology term is mobile device management and it primarily stands for the centralized management of mobile devices such as sub-notebooks, smartphones, tablet or personal digital assistant (PDA) by one or more administrators with the help of hardware and software. The market has been segmented into by type which includes solutions and services among others. The market is also segmented into by application which includes aerospace, banking and financial sector, education, manufacturing, healthcare, retail, transportation and logistics among others. The market for mobile device management, by region is segmented into North America, Asia Pacific, Europe, Middle East and Africa and South America.

By type the market is segmented into solutions and services. Application management, network service management and security management among others falls under the solution field. Moreover, training and support comes under the service segment. Growing scope for mobile device management consulting and services and growing cloud-based deployment is fueling the market.

The major application sectors of mobile device management market include aerospace, banking and financial sector, education, manufacturing, healthcare, retail, transportation and logistics among others. BFSI (Banking, Financial Services, and Insurance) field accounted highest market share in this market, followed by education, manufacturing and aerospace among others. Technological advancement in the field of electronic devices and growing usage of mobile devices among young generation are some of the basic drivers for the market. In addition, growing demand for cloud-based solutions adopted by small and medium sized enterprises and rising demand for local braded smartphones and tablets are some of the prime driving factors for the mobile device management market. However, due to budgetary constraints low adoption of MDM (mobile device management) solutions by (SMEs) small and medium firms along with reluctance to use MDM (mobile device management) solution on the employees' personal phones owing to privacy constraints and are the major restraints for the market. Increasing concern towards protecting corporate data is another major driver for the market.

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North America accounted the highest market share in the mobile device management market, followed by Asia Pacific and Europe. Growing smartphone penetration and technological advancement is one of the major driving factors for the market across North America. The U.S. is leading the market across North America, followed by Mexico and Canada. In addition, China, India, Taiwan, South Korea, and Japan are anticipated to register positive development during the forecast period from 2016 to 2024 across Asia Pacific. Major organizations in the Asia Pacific region are adopting enterprise mobility solutions to meet the requirement of the dynamic mobile workforce, which in turn is fueling the demand for mobile device management across Asia Pacific. The U.K., Germany, France, Italy is dominating the market for mobile device management across Europe. Saudi Arabia and U.A.E is also holding promising position in Middle East and Africa. Moreover, in South America, Brazil and Argentina are leading the mobile device management market globally.

The companies operating in the mobile device management primarily adopts acquisition as a major business strategy. With acquiring other company major players increases its product offerings in order to strengthen its foothold globally. In addition, mergers and focusing on research and development are some of the prime strategies adopted by the players operating in this mobile device management market. VMware AirWatch (The U.S.), BlackBerry Limited (Canada), International Business Machines Corporation (IBM) (The U.S.), Microsoft Corporation (The U.S.), Citrix Systems, Inc. (The U.S.), SAP SE (Germany), MobileIron Inc. (The U.S.), Sophos Group plc (The U.K.), Amtel, Inc.(The U.S.), Symantec Corporation (The U.S.), Soti Inc (Canada) among others are some of the major players operating in the mobile device management market. Innovating new products with advance features through extensive research activity is another major business strategy for attracting new customer base and better market penetration.