In a recent published report, Kenneth Research has updated the Mobile Device Management Market report for for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Mobile Device Management Market products.
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According to the statistics by the Bureau of Economic Analysis (BEA) of the U.S. Dept. of Commerce, the gross output registered from the data processing, internet publishing and other information services industry grew from USD 162.5 Billions in 2010 to USD 530.4 Billion in 2020.
The rising demand for smartphones, and growing safety concerns regarding protection of corporate data are increasing the need for mobile device management (MDM) solutions. The purpose is to manage and streamline different platforms through a single device. This significant factor is propelling the MDM market to grow and reach approximately USD 6.96 Bn by 2023, expanding at a compound annual growth rate (CAGR) of 25.84% during 2018-2023.
Solution segment insights:
State-of-the-art telecom infrastructure is driving the MDM market growth, globally. Device management held the largest market share in 2018 (41%), among other variants such as application management, network service management and security management solutions. However, the security management solutions market is estimated to expand at a CAGR of 29.8% during 2018 to 2023, owing to the growing concerns regarding data breaches, and protection from malware, virus and data theft.
Deployment segment insights:
Substantial growth in cloud-based deployment by small and medium-sized enterprises (SMEs) is estimated to drive the market. Integration of MDM in unified endpoint management (UEM) is another critical factor expected to accelerate market growth. Cloud computing holds upto 56% of the market share in the on-premise, cloud and hybrid segments. On-premise deployment, on the other hand, is experiencing a declining growth after the massive adoption of cloud computing in most organizations. Hybrid deployment is still at its nascent stage in many countries, as the concept is still unfamiliar to organizations.
Industry vertical segment insights:
Mobile device management impacts multiple sectors such as banking, financial services and insurance (BFSI), telecom, retail, healthcare, education, transportation, and government initiatives. Among these, the healthcare sector dominated the market with a revenue of USD 0.63 Bn and a 29% market share, in 2018. Hospitals are installing MDM solutions for security purposes. Monitoring patients and checking their electronic medical records have increased among doctors, nurses and support staff. Banks and financial institutions are offering mobile apps and chatbots to assist customers and provide product information. The BFSI segment holds about an 18% market share, followed by telecom and retail.
North America is leading the innovation in the MDM market, and occupied approximately 35% of the global market in 2018. Advancement in technologies such as cloud computing, edge computing, and the Internet of Things (IoT), along with a state-of-the-art telecom infrastructure are expected to propel market growth in the region to 2.35 Bn by 2023. Asia-Pacific is one of the fastest developing regions, and is anticipated to expand at the highest CAGR of 29.8% during the forecast period. Latin America, and the Middle East and Africa markets, though still at nascent stages, will also experience high growth.
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
The Market report answers the following questions:
What is the aim of the report?
- The market report presents the estimated market size of Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year-on-Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
- The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
- The various parameters accelerating the growth of Market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the Market during the forecast period.
What aspects regarding the regional analysis Market are included in this report?
- Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
- The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
- The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
- The report offers detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in the Market including Key Playes
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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