Mobile Device Management Market to Cross USD 28.75 Bn by 2030 Due to Rising Cybersecurity Threats and Number of Devices

(Isstories Editorial):- Austin, Texas Oct 13, 2023 (Issuewire.com) – Mobile Device Management Market Overview

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As per SNS Insider’s research, the Mobile Device Management Market continues to expand as businesses recognize the critical importance of managing and securing mobile devices in an increasingly mobile-centric world.

The SNS Insider report indicates that in 2022, the mobile device management market had a valuation of USD 5.4 billion, and it is anticipated to experience substantial growth, reaching USD 28.75 billion by 2030, with a forecasted compound annual growth rate (CAGR) of 23.25% from 2023 to 2030.

Market Report Scope

Mobile Device Management (MDM) is a comprehensive solution or set of technologies that enables organizations to manage and secure mobile devices used by their employees or members. These devices can include smartphones, tablets, and sometimes even laptops, which are increasingly being used for work-related tasks and accessing corporate resources. MDM solutions provide robust security features to safeguard sensitive data and protect against unauthorized access. This involves features such as remote lock and wipes in case a device is lost or stolen, enforcing passcode policies, and encrypting data.

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Major Key Players Included in the Report are:

• IBM
• SOTI Inc
• Manage Engine
• Microsoft Corp
• Quest Software
• Cisco Systems
• Broadcom Inc
• Qualys
• VMware Inc
• SolarWinds Worldwide LLC
• Samsung
• Citrix Systems
• Matrix 42
• Kaspersky Labs
• SAP SE
• Ivanti
• Micro Focus
• Zoho Corp. Pvt. Ltd.
• Jamf
• Others

Market Analysis

The mobile device management market has been experiencing significant growth in recent years, driven by various factors that are shaping the landscape of mobile technology and enterprise management. The rapid proliferation of smartphones, tablets, and other mobile devices in both consumer and business settings has been a primary driver of the MDM market. As more employees use personal devices for work-related tasks (BYOD – Bring Your Own Device), organizations require robust MDM solutions to manage and secure these devices. With the increasing amount of sensitive corporate data being accessed and stored on mobile devices, data security has become a paramount concern for businesses. MDM solutions offer comprehensive security features, including encryption, remote wipe capabilities, and threat detection, to safeguard corporate data. The shift towards remote work and the hybrid workplace model has necessitated the need for MDM solutions that enable IT departments to manage and support remote employees’ devices effectively. MDM tools facilitate remote troubleshooting, software updates, and application deployment.

Market Segmentation and Sub-Segmentation Included Are:

By Component:

• Solution
• Service

By Device Type:

• Smartphones
• Laptops
• Tablets

By Deployment:

• Cloud
• On-premise

By Enterprise Size:

• Large Enterprises
• Small & Medium Enterprises

By Industry vertical:

• BFSI
• Healthcare
• Government & Public Sector
• IT & Telecom
• Retail
• Educational
• Others

Impact of Recession

The impact of an ongoing recession on the mobile device management market is multifaceted. While cost-cutting measures and reduced IT budgets can pose challenges, the increasing importance of remote work, cybersecurity concerns, and the need for scalability can create opportunities for MDM providers. The extent of the impact will vary by industry and individual business circumstances, but adaptability and a focus on core MDM functionalities will likely be key strategies for providers to thrive in this challenging economic environment. Some industries, such as healthcare and finance, may continue to invest heavily in MDM solutions due to regulatory requirements and the critical nature of their operations, even during a recession.

Impact of Russia-Ukraine War

The Russia-Ukraine war has brought about various challenges and opportunities for the mobile device management market. Supply chain disruptions, geopolitical uncertainty, data security concerns, and regulatory changes are among the key factors impacting the industry. MDM providers that can adapt to these changes and position themselves as partners in building resilient technology infrastructures may find success in this evolving landscape. While the conflict has introduced uncertainty, it has also highlighted the importance of diversifying supply chains and exploring new markets. MDM providers may look to expand their presence in regions less affected by geopolitical tensions, opening up new growth opportunities.

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Key Regional Development

North America remains a dominant force in the mobile device management market, driven by the presence of tech giants, a strong focus on cybersecurity, and a high adoption rate of mobile technologies. The United States, in particular, is a key contributor to market growth. European countries have been at the forefront of data privacy regulations, which has led to a significant emphasis on MDM solutions. GDPR compliance remains a major driver for MDM adoption, and European companies are actively investing in MDM to safeguard customer data. The Asia-Pacific region is witnessing substantial growth in MDM adoption, driven by the proliferation of mobile devices, especially in emerging economies like India and Southeast Asian countries. The need for remote device management has become crucial due to the remote work trend accelerated by the COVID-19 pandemic.

Key Takeaway from Mobile Device Management Market Study

• In today’s fast-paced digital landscape, the dominance of the smartphone segment in the market is indisputable. With the rapid proliferation of mobile devices, smartphones have emerged as the cornerstone of business communication and productivity. The Bring Your Own Device trend has gained substantial momentum. Employees prefer using their smartphones for work-related tasks, which requires robust MDM solutions to ensure security, data protection, and compliance.
• Large enterprises represent a formidable force in the market. These organizations are at the forefront of MDM adoption due to their specific needs, resources, and complex IT environments. Large enterprises handle vast amounts of sensitive data, making data security and compliance paramount. MDM solutions are crucial for enforcing security policies, encrypting data, and ensuring compliance with industry regulations.

Recent Developments Related to Mobile Device Management Market

• TeamViewer, a global leader in remote connectivity solutions, has forged a strategic partnership with Ivanti Neurons, a renowned player in the field of unified endpoint management. This collaboration promises to revolutionize device management by combining TeamViewer’s cutting-edge remote access and support capabilities with Ivanti Neurons’ advanced endpoint management solutions.
• GoTo, a leading provider of collaboration and communication solutions, has recently unveiled a cutting-edge Mobile Device Management (MDM) solution designed specifically for its GoTo Resolve platform. This innovative addition to their product lineup is set to streamline and enhance IT management processes, catering to the ever-evolving needs of businesses in today’s digital landscape.

Table of Contents – Major Key Points

1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1. COVID-19 Impact Analysis
4.2. Impact of Ukraine- Russia War
4.3. Impact of Ongoing Recession on Major Economies
5. Value Chain Analysis
6. Porter’s 5 Forces Model
7. PEST Analysis
8. Mobile Device Management Market Segmentation, By Component
9. Mobile Device Management Market Segmentation, By Device Type
10. Mobile Device Management Market Segmentation, By Deployment
11. Mobile Device Management Market Segmentation, By Enterprise Size
12. Mobile Device Management Market Segmentation, By Industry Vertical
13. Regional Analysis
14. Company Profiles
15. Competitive Landscape
16. USE Cases and Best Practices
17. Conclusion

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SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company’s aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.

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