Surge in data and mobile devices in organizations and rise in BYOD culture in organizations drive the growth of the global mobile device management market. By component, the solution segment would lead the trail throughout the forecast period. Based on region, on the other hand, the market across North America dominated in 2020 and would lead the trail throughout the forecast period.
Portland,OR, Aug. 03, 2021 (GLOBE NEWSWIRE) -- According to the report, the global Mobile device management market generated $8.49 billion in 2020, and is expected to garner $98.71 billion by 2030, witnessing a CAGR of 27.8% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Surge in data and mobile devices in organizations and rise in BYOD culture in organizations drive the growth of the global mobile device management market. However, high implementation cost and lack of awareness in developing nations hinder the market growth. On the other hand, rise in adoption of cloud-based technology among enterprises presents new opportunities in the coming years.
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The outbreak of COVID-19 pandemic immensely impacted the global manufacturing and industrial sectors as production facilities were hindered, which, resulted in significant demand in industries, especially during the initial phase of the lockdown.
Nevertheless, the situation is reviving as the government bodies across the globe are initiating for vaccination drives. And, the market, therefore, is expected to recoup soon.
Based on component, the market is bifurcated into solution and services segment. The solution segment contributed to the highest share in 2020, holding more than two-thirds of the global mobile device management market, and is estimated to maintain its lead position during the forecast period. However, the services segment is estimated to register the highest CAGR of 30.0% from 2021 to 2030.
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Based on deployment model, the report divides the market into on-premise and cloud. The on-premise segment dominated the highest share in terms of revenue in 2020, accounting for nearly three-fifths of the global mobile device management market, and is estimated to maintain its dominant share during the forecast period. At the same time, the cloud segment is projected to manifest the largest CAGR of 28.9% from 2021 to 2030.
Based on region, the market is studied across Asia-Pacific, North America, Europe, and LAMEA. The Asia-Pacific is estimated to witness the fastest CAGR of 28.9% during the forecast period. On the other hand, the market across North America dominated with highest market share in 2020, holding more than one-third of the total market share.
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The major market players profiled in the report include Cisco System Inc., Vmware Inc., Citrix Systems Inc., Microsoft Corporation, Blackberry Ltd., IBM Corporation, Samsung Electronics, SAP SE, Quest Software, Sophos Ltd. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, regional expansion, and collaborations, to enhance their market penetration.
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