Mobile Device Management Market to Register an Impressive 23.80% CAGR by 2031, Growing Adoption of Mobile Software

WESTFORD, MASSACHUSETTS, UNITED STATES, August 23, 2024 /EINPresswire.com/ -- Mobile Device Management Market size was valued at USD 4.8 billion in 2022 and is poised to grow from USD 5.94 billion in 2023 to USD 32.79 billion by 2031, growing at a CAGR of 23.80% in the forecast period (2024-2031).

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Mobile device management is evolving at a speedy rate that earlier appeared limited for the world of science fiction. This development is anticipated to speed up even more in the forthcoming years owing to trends like endpoint diversity management, escalated adoption of BYOD, improved security protocols, among others. With more transformations in mobility trends, businesses are assigned with instituting a strong framework of mobile device management that apart from catering to the existing needs, also lays foundation for success in the future. In 2022, the global mobile device management market size was estimated at $ 4.8 billion.

Mobile Device Management Market Top Players Company Profiles

• Microsoft Corporation
• IBM Corporation
• VMware, Inc.
• Citrix Systems, Inc.
• BlackBerry Limited
• SAP SE
• MobileIron, Inc.
• Sophos Ltd.
• Cisco Systems, Inc.
• Ivanti, Inc.
• Jamf
• SOTI Inc.

Growing Adoption of Bring Your Own Device to Boost in Coming Years

Growing policies concerning BYOD or Bring Your Own Device in businesses highlight the increasing shift to cost-effectiveness and flexibility by employee-owned systems. Mobile device management services are crucial in embracing this trend. They offer businesses the essential tools for a continuous approach to BYOD, delivering granular control over corporate and personal data on shared systems. Data separation protocols and strong containerization ensure optimal privacy and security of confidential data, dealing with the challenges related to the merging of professional and personal data. The rising trend of BYOD has made MDM services incorporate with IAM devices, also known as Identity and Access Management.

Growing Efforts to Address Compliance and Privacy Concerns over 4-5 years

The following are the key Mobile Device Management Trends that will shape the growth of the market in the next 5 years

As the regulations for data protection are becoming stricter on the global scale, mobile device management solutions are implementing privacy concerns and address compliances. In the coming years, MDM solutions will be embedded with features that aid businesses to comply to industry-specific regulations and data protection policies. This comprises improved privacy controls, technologies that streamline compliance reporting, and data encryption. Providers of MDM are increasingly partnering with compliance professionals to make sure their solutions comply with the constantly evolving regulatory scenario.

Mobile Device Management Industry Will Witness Growth in Advanced Features

The mobile device management market is experiencing a rise in advanced functionalities and features to improve the experience of users, fortify security measures, and simplify management process. From improved application management analytics in real-time, the recent solutions of MDM are embedded with plethora features that are beyond primary device control. These modernizations will certainly fuel the mobile device management market. The decision-making team in IT should initiatively discover and incorporate these advances in their MDM strategies to stay ahead in the competition and expand efficiency.

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Segments covered in Mobile Device Management Market are as follows:

• Component
o Solution (Device management, Application Management, Security Management, Others), Services (Professional services {Consulting Services, Implementation Services, Support Services}, Managed services)

• Operating System
o iOS, Android, Windows, MacOS, Others

• Deployment Mode
o On-Premises, Cloud

• Organisation Size
o Small and Medium Enterprises, Large Enterprises

• Vertical
o Banking, Financial Services and Insurance (BFSI), Telecom, Retail, Healthcare, Education, Transport and Logistics, Government and Public Sector, Manufacturing and Automotive, Others

Preparation of IoT Integration and 5G to Rise over Next Decade

As is already known, 5G networks and IoT integration are on the rise today and nearly every industry is adopting these advantageous trends. The emergence of 5G networks and constant growth of IoT will impact majorly on mobile device management in the coming years. With improved transfer speed and advanced connectivity, IT experts should prepare for a more interlinked future. This could comprise implementing novel mobile device management tools that can efficiently manage a greater number of devices and adopting tactics to secure Internet of Things devices against impending risks.

Latest Headlines and Headlights

In May 2024: Ras Infotech, a forerunner distributor of information security products, pronounced alliance with Hexnode, a prize-winning UEM (Unified Endpoint Management) service by Mitsogo Incorporation. This distribution alliance aims to supply device management service by Hexnode in the MEA regions.

In February 2024: Kandji launched Prism, a novel compliance reporting device that offers Apple admins with visions on important data about their fleet in a place. This will aid the IT team in better monitoring of policy obedience, examine cases, and detect issues in managed endpoints.

In October 2023: BlackBerry Ltd., the innovator of enterprise mobility management declared 2 novel major innovations in United Endpoint Management; BlackBerry UEM for IoT and BlackBerry UEM at the edge.

In July 2023: Scalefusion’s UEM service, now accompanies the management of Android WPCO/COPE devices. This recent modernization denotes a major milestone in device management of Android, allowing businesses to improve flexibility and security at workstations.

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Growing Trend of Remote Work and Mobility Will Deepen Importance of MDM

The mobile device management scenario by 2025 is ready for major dynamic changes, categorized by convergence of flexibility, security, and focus on human-centricity. Businesses are actively identifying the crucial role of mobile device management in guarding digital assets, mainly in the constantly changing dynamics of current work environments. With businesses embracing remote working and mobility, the role of mobile device management in delivering a unified and safe mobile experience is becoming important, arranging it as a cornerstone in the active digital landscape of the future.

Related Report:
Internet Of Things (IoT) Market

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