The value of mobile-device management (MDM) is expected to more than double by 2023.
That’s according to a new report by MarketsandMarkets, which expects the market to grow from $2.8 billion this year to almost $7.9 billion by 2023 — that’s a compound annual growth rate (CAGR) of nearly 23 percent. That should be music to partners’ ears.
The key players in the market include IBM, Microsoft, VMware, BlackBerry, MobileIron, Citrix Systems, ManageEngine, SAP, Sophos and SOTI . The key innovators include Mitsogo and 42Gears Mobility Systems, the report states.
Market drivers include the widespread use of smartphones and tablets, growing security concerns to protect corporate data, and the increasing need to manage and synchronize different platforms through a single console.
The MDM solutions segment is expected to grow the most through 2023. The uptake of corporate-owned devices, and advancements in business applications and technologies are expected to drive MDM solutions across businesses.
Among deployment types, look for cloud to take hold. Most industry verticals, such as telecom, manufacturing and automotive, education, transportation, logistics, utilities and retail, prefer cloud-based MDM offerings. Small and medium businesses (SMBs) are rapidly deploying in the cloud due to budget constraints and the accessibility of cloud-based MDM services.
Among verticals, health care will flock to MDM. The increasing world population, changing lifestyle and increasing awareness of health-related issues are expected to contribute to the massive growth of MDM in this vertical. Also, the use of mobile devices among patients, doctors, nurses and other supporting staff has increased globally.
North America will continue to be home to the largest number of MDM deployments, followed by Europe. North America, MarketsandMarkets says, has been particularly receptive to MDM solutions because organizations want to safeguard content from piracy and data breaches, web and network-threat security, cyberattacks and severe data losses. Also, almost all major MDM companies are located in either the United States or Canada.
In terms of growth rate, Asia Pacific will domiante. Businesses there are looking forward to adopting enterprise mobility services for meeting the demands of a dynamic mobile workforce, the report says.