Market Snapshot
Key Players
Market Synopsis:
The global enterprise mobility management market was valued at USD 19.5 billion in 2019 and is projected to reach USD 151.45 billion by 2027, growing at a CAGR of 29.3% from 2021 to 2027.
Market Driver
Rising Competition has Compelled Businesses to Shorten their Timeframes
Enterprise mobility is a developing trend among businesses that allow workers to work remotely to improve corporate operations. Further, workplace mobility delivers several benefits, such as increased employee productivity, lower operating expenditures for businesses. Business mobility allows companies to limit access to specific data within the institution and protect it from various ransomware attacks.
The exceptional COVID-19 health crisis has accelerated company demand for enterprise mobility solutions to manage their employees' data and boost productivity while remote working in lockdown scenarios worldwide.
The increase of data and mobile devices in businesses, and the expansion in the cloud and mobile applications in many industries, are driving the worldwide enterprise mobility market forward. The rapid increase in business adoption of cloud-based technologies is forecasted to have a significant influence on the growth of the market. High implementation costs and a lack of knowledge in undeveloped countries, on the other side, are forecast to suppress market growth.
The Merger of Cloud Technology and BYOD is Driving Market Growth:
Cloud computing technologies, such as Software-as-a-Service (SaaS) and cloud storage are being adopted by the business mobility market demand. It allows employees to securely access confidential company data without complementary software/applications installed on their devices. Cloud storage also guarantees that sensitive data is only accessible securely through the cloud and not locally on personal devices.
Similarly, the current work-from-home trend pushed across several business verticals as a result of the COVID-19 pandemic has increased demand for workplace mobility products. During a coronavirus outbreak, it is estimated that around 85% of worldwide enterprises rely on their employees' gadgets to guarantee market competitiveness and business continuity.
The Impact of COVID-19 on the Global Enterprise Mobility Management Market:
Employers are obligated to give remote access alternatives to their employees in response to the broad dissemination of the COVID-19, allowing them to work outside the company infrastructure. Allowing staff to work from home is a measure to prevent the spread of viruses in the workplace. The adoption of Enterprise Mobility Management solutions is increasing because these solutions empower businesses to remotely operate, update, and even delete data from devices. During this outbreak, several companies have also launched a BYOD program, which lets employees use their devices for work purposes to maintain company continuity.
Large enterprises use enterprise mobility technology to manage their employees' BYOD and remote access to corporate resources. Countries have developed one-of-a-kind mobile solutions with security systems to combat the spread of the Covid-19 virus. For example, Oman has released Tarassud Plus, a system that includes a mobile application powered by AI.
Market Segmentation:
Enterprise Mobility Management Solutions are Adapted to Satisfy Every Business Requirement for a Consistent End-User Experience
Enterprise Mobility Management solutions are adapted to satisfy every business requirement for a consistent end-user experience. Solution vendors are unable to tailor the approach to solve unique business requirements. Every company has various security requirements for mobile devices to the corporate network. The correct Enterprise Mobility Management solution may improve both security and efficiency. Acquiring an accurate understanding of what an organization intends is quite challenging. Since each company's demands are unique, the implementation of Enterprise Mobility Management solutions should be as well.
The Growing Incidence of Cyberattacks Encourages the Demand for Enterprise Mobility Management Solutions
According to Lookout's report, the number of business mobile phishing threats has grown over time. Mobile phishing attack rates have increased by around 37% since the fourth quarter of 2019. The United States has experienced some of the harshest effects, with a 66 % rise since the end of 2019. As more mobile devices are deployed in the office, phishing attempts targeting those devices become more prevalent, necessitating staff training on adequate mobile security practices.
Encrypting all data using a cryptographic hash should be done for new businesses. The system would validate each file's digital signature to verify data integrity. If an intruder achieves illegal file access, the digital signature of the file is changed, and the system alerts the appropriate parties. An authentication method should also be in place to limit data access.
Underqualified Enterprise System Integrators:
Every business should have numerous solutions for workflow automation that function in combination. Various systems should be linked to communicate crucial data. Similarly, mobile devices such as smartphones and laptops should interact easily with complicated corporate processes. Failure to integrate mobile devices with complex systems may result in information silos, which occur when essential information is only available on one device and is not shared with the company's network. An employee who works from home on occasion and fails to transfer crucial data after moving to another organization, for example, might create an information silo. As a result, smart apps that can communicate with several complicated business systems are required to ease the processing of data and processes across platforms.
During the Forecast Period, The Solution Segment is Estimated to have the Leading Market Share:
Organizations rely on Enterprise Mobility Management solutions to improve customer acquisition, retain current customers, and improve customer experience and profitability. Organizations must handle their data efficiently and effectively to increase productivity and ensure company continuity. The explosion of data, resulting in big data, has driven suppliers to implement Enterprise Mobility Management solutions to assist IT, teams, in simplifying and managing their decision-making process. Enterprise Mobility Management solutions enable the analysis of massive volumes of social media and sensor-based data to unearth new insights about customer, product, and operation relationships and understandably display them. Enterprise Mobility Management solutions and services are already being adopted and deployed by big businesses and small and medium-sized businesses.
The Cloud Industry is Expected to Grow at a Higher CAGR Throughout the Forecasted Period:
The cloud is forecasted to grow at a higher rate in the deployment category throughout the forecast period. Cloud-based solutions leverage the Software-as-a-Service (SaaS) structure, which allows customers to access Enterprise Mobility Management solutions digitally through the internet. Enterprise Mobility Management solutions are offered through the cloud in this deployment method. Flexibility, scalability, affordability, operational efficiency, and minimal expenses are advantages of using a cloud-based Enterprise Mobility Management solution. However, cloud-deployed Enterprise Mobility systems have several drawbacks, such as a lack of application control, tight government requirements, and private material. Due to the related functionality and essential features, general adoption of cloud-based Enterprise Mobility Management solutions is expected to increase and strong over the forecast timeframe.
During the Forecast Period, The BFSI Vertical Segment is Expected to Expand at a Greater Market Size:
The BFSI vertical is forecasted to have a greater market size throughout the forecasted period. The growing BYOD trend in the BFSI industry has resulted in the adoption of Enterprise Mobility Management solutions. Several BFSI companies are increasingly concentrating on boosting workplace mobility, which will enhance employee satisfaction and motivation. ABANCA, one of the leading banks in Galicia (Spain), for particular, required a versatile, extendable platform that allows its IT teams to access COPE devices.
The Emergence of the Bring Your Own Device (BYOD) Culture in Businesses:
Businesses are adopting a bring your device (BYOD) culture to balance employee mobility while raising organizational security. BYOD culture also assists organizations in increasing employee trust and breaking down communication barriers between employees. Further, the rise in the demand for businesses to reduce overhead expenses and boost employee satisfaction drives the market's growth.
Regional Overview
During the Forecasted Period, North America is Expected to Have the Largest Market Size:
North America is expected to hold the largest market size and dominate the Enterprise Mobility Management market from 2020 to 2027. North America is home to multiple Enterprise Mobility Management vendors, such as IBM, Microsoft, ManageEngine, and Citrix, who offer Enterprise Mobility Management solutions and services. These companies target higher revenues and business expansions due to the competition across the North American region.
Organizations in North America focus on innovations to keep up with the latest technologies in the market. In this region, verticals such as BFSI, retail, and healthcare, and life sciences adopt Enterprise Mobility Management solutions due to various benefits, such as efficient management of day-to-day transactions in the BFSI vertical, improved supply chain management process, and enhanced ability of healthcare machines to track patient health.
During 2020-2027, Asia-Pacific will have the highest CAGR of 30.8%. Due to the increasing accessibility of the BYOD culture and the growing demand to secure the company's sensitive data from potential cyber-attacks.
Various Strategies Adopted by the Key Players:
The global enterprise mobility market is divided into components, solution types, deployment methods, enterprise size, device types, industry verticals, and regional segments. It is divided into two categories: solutions and services. It is divided into mobile content management (MCM), mobile application management (MAM), mobile device management (MDM), mobile identity management, and others, depending on the solution type. It is classified as on-premise or cloud-based based on the deployment model. It is divided into two categories Big enterprises and small and medium companies.
It is divided into three categories based on device type: computers, tablets, and smartphones. The market is divided into BFSI, healthcare, government and public sector, IT and telecom, retail, education, energy, and utilities. It is divided into four regions, North America, Europe, Asia-Pacific, and Latin America, and LAMEA.
Amtel, Inc., Blackberry Limited, Citrix Systems, Inc., IBM Corporation, Infosys, Ltd., Microsoft Corporation, SAP SE, Sophos Ltd., Soti, Inc., and VMware, Inc. are the key players in the global enterprise mobility market. These companies have used various strategies to expand their market penetration and enhance their position in the industry.
Enterprise Mobility Management Market: Segmentation
By Components:
- Solutions
- Services
By Deployment Modes:
- Cloud
- On-premises
By Enterprise Size:
- Large Enterprises
- Small & Medium Enterprises
By Verticals:
- BFSI
- Retail and eCommerce
- Healthcare and Life Sciences
- IT and Telecom
- Manufacturing
- Government
- Transportation and Logistics
- Travel and Hospitality
- Others Verticals
By Devices Types:
- Laptop
- Tablet
- Smartphones
By Regions:
- North America
- Europe
- APAC
- The Middle East and Africa
- Latin America
