Global Mobile Device Management Market to Expand 25.84% CAGR till 2023
According to a new Research on Global Markets report, the global mobile device management market is expected to be worth approximately USD 6.96 Bn by 2023, expanding at a compound annual growth rate (CAGR) of 25.84% during 2018-2023. The ever-increasing demand for smartphones and tablets, and growing concerns about the protection of corporate data are driving the adoption of mobile device management solutions.
The global mobile device management market is segmented based on solutions, deployment and industry. Based on solutions, device management held the largest market share (41%) in 2018, driven primarily by the growing acceptance of state-of-the-art telecom infrastructure. However, the security management solutions segment is estimated to expand 29.8% CAGR during the forecasted period, owing to the growing concerns regarding data breaches.
Based on deployment, cloud computing currently holds 56% of the market share. On-premise deployment, however, is experiencing slower-than-expected growth due to the massive adoption of cloud computing across most organizations.
Based on industry, mobile device management solutions are witnessing significant adoption in multiple sectors like banking, financial services and insurance (BFSI), telecom, retail, healthcare, education, transportation, and the government sector as well. Among these industries, the healthcare sector generated revenue of USD 0.63 Bn and held a 29% market share in 2018, according to Research on Global Markets.
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Research on Global Markets tracks the performance of the global mobile device management market across North America, Latin America, Europe, Asia-Pacific, and the Middle East and Africa. North America accounted for the majority of market share for mobile device management solutions in 2018. However, Asia-Pacific is expected to expand at the highest CAGR of 29.8% during the forecasted period. Latin America, and the Middle East and Africa markets are still at nascent stages.
Key highlights of this report:
- Global market overview - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), geography-wise market revenue (USD Bn), and market attractiveness analysis
- Qualitative analysis of the drivers and challenges affecting the global market
- Major trends in the global mobile device management market
- Analysis of the competitive landscape and profiles of the major players operating in the market
- Market segmentation based on solutions (device management, application management, security management, and network service management) – historical (2015–2017) and forecasted (2018–2023) market size (USD Bn), and key market observations
- Market segmentation based on deployment (cloud, on-premise, and hybrid) – historical (2015–2017) and forecasted (2018–2023) market size (USD Bn), and key market observations
- Market segmentation based on industry verticals (banking, financial services and insurance [BFSI], telecom, retail, education, healthcare, transport, logistics, and government and public services) – historical (2015–2017) and forecasted (2018–2023) market size (USD Bn), and key market observations
- Market segmentation based on region (North America, Europe, Asia-Pacific, Latin America, and The Middle East and Africa)
This report has been formulated and designed with the purpose of giving businesses a concise understanding of the demand for mobile device management solutions across the world to determine the viability of the market, develop strategies based on the drivers, and to help brands identify competition and respond accordingly.