A report titled, “Mobile Device Management Market” published by Zion Market Research, discusses predictions in the value and growth of the global mobile device management (MDM) market.
According to the report, the global MDM market was valued at nearly 1.35 billion USD in 2015 and is expected to generate revenue of 5.15 billion USD by the end of 2021, growing at a CAGR of slightly above 25 percent between 2017 and 2021. As mobile devices continue to grow as valuable enterprise tools that allow immediate access to internal content and resources, the more prevalent device management becomes.
In 2015, North America was the leading in the MDM market. However, Asia-Pacific is expected to emerge as the fastest growing segment within the next three years due to the high percentage of the young population and increasing use of local brands of tablets and smartphones for business purposes, especially in emerging economies such as China, India, and Japan. Europe is expected to exhibit considerable growth over the next few years as well.
Currently, MDM is being widely used in education, healthcare, banking, financial services, insurance, retail, and manufacturing sectors. MDM solutions manage data security, network connectivity, device capabilities, and other various features of mobile devices. Among all segments, application management was the largest solution segment of MDM owing to the solution requirements and need to control the access to mobile applications in an organization on company-owned and BYOD devices.
The report shows the global mobile device management market is expected to witness a significant growth over the forecast period owing to a rapid surge in the banking, financial services, and insurance sector. Increasing demand for smartphones and tablets are expected to help drive the market for mobile device management. Due to this, the educational segment is expected to be one of the fastest growing vertical of the MDM market. Meanwhile, healthcare, retail, manufacturing, and other verticals are predicted to have a moderate growth in the MDM market over the next few years.