Mobile Device Management Market Set to Witness Upstick from 2019 to 2023
This report provides detailed synopsis about opportunities, competitive landscape, emerging technologies, key trends and dynamics in the Mobile Device Management Market.
Northrook, IL -- (SBWire) -- 11/15/2019 --The Mobile Device Management Market size was USD 2.36 billion in 2017 and is projected to register a CAGR of 22.8% between 2018 and 2023.
Is integration of MDM capabilities into the UEM suite creating an opportunity for market growth?
Organizations have realized that Mobile Device Management (MDM) solutions alone cannot address all the security concerns of mobile devices. However, IT administrators have the privilege to provide security at the device level for smartphones, tablets, and laptops. Hence, MDM platforms are working beyond the device level and have become a UEM platform, which expands the capabilities of MDM and provides the ability to manage and set policies at the information and application levels. Furthermore, with advancements in technologies and the rise of IoT and smart wearables within enterprises, the need for more advanced solutions has emerged. UEM enables IT administrators to configure and apply policy rules at all endpoints, such as smartphones, laptops, IoT, M2M, smart devices, and wearables. UEM also supports a wide range of OS platforms, including iOS, Android, Windows 10, and Mac. Moreover, it delivers unified management of all endpoints, end-to-end security, secure network gateways, and enterprise-grade mobile applications via a single solution suite. In terms of adoption, businesses in developed countries have started adopting UEM solutions, and the adoption is expected to increase in emerging regions, such as APAC and MEA, by 2020. Furthermore, companies prefer having a single solution that can manage all endpoints with enhanced security. Therefore, it is expected that MDM vendors would unlock several opportunities in the MDM market by integrating MDM solutions with the UEM suite.
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Are difficulties in selecting the right MDM vendor and triangular competition among peers challenging the market growth?
The MDM market is expected to grow at a rapid pace, as MDM solutions are being widely used across organizations to monitor, manage, and secure user-owned devices. MDM solutions not only protect devices but also secure the data used by employees on their devices and the corporate network they are connected with. The existing market vendors offer different MDM solutions, and new vendors are continuously emerging in the market—big vendors have also acquired smaller vendors to expand their MDM offerings. All MDM solutions are not identical; some software solutions provide certain features different from others. For instance, some MDM solutions have to be handled manually, while others can automatically detect and protect devices from cybersecurity attacks whenever any threat or device malfunction is encountered. This makes it difficult for organizations to choose the right set of MDM solutions for mobile devices.
The cloud deployment type is expected to witness a faster growth in this market. The overall adoption of cloud-based MDM solutions is seen to be on the rise and expected to be in high demand during the forecast period, due to its functionalities and core features. Moreover, the additional benefits of cloud-based solutions include its effectiveness while being used by many users, reduced upfront costs, no investments on hardware, low maintenance costs, and minimized infrastructure costs.
The Small and Medium-sized Enterprises (SMEs) segment is expected to grow at a higher CAGR during the forecast period. The major factors that are expected to drive the SMEs to adopt MDM solutions include its low deployment costs, ease of use, and scalability in managing several devices within a set budget.
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Among the industry verticals, the healthcare industry vertical is expected to grow at the highest CAGR during the forecast period. MDM helps healthcare stakeholders in improving their care delivery, thereby enhancing their patient management skills, streamlining their clinical workflows, and ensuring their compliances and security of devices and applications. In the healthcare industry vertical, special security precautions mandated by government authorities need to be taken care of to ensure the protection of patient's data.
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