According to a recent report published by Allied Market Research, titled, “Mobile Device Management Market By Component, Deployment Model, Enterprise Size, Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021-2028,” The global mobile device management market size was valued at $8.49 billion in 2020, and is projected to reach $98.71 billion by 2030, growing at a CAGR of 27.8% from 2021 to 2030. The mobile device management market is currently in its growth stage and is expected to register substantial growth in the near future, owing to the high investment in R&D activities by market players and increase in focus toward Internet of Things (IoT). Other factors that drive the mobile device management market size include increase in demand for 5G technology and cloud computing globally.
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Mobile device management can be defined as software which can be used in various types of organization for monitoring, managing and safeguard laptops, smart phones, desktops and other electronic devices. It aids in various services like inventory & asset management, remote device management & configuration and in operating system for security.
According to mobile device management market trends, devices without the protection of an android device management are at an increased risk of malware and other virus attacks that could compromise the confidential data stored. Any compromise in the confidential data can permanently affect an organization’s reputation with its consumers and other business partners, which is one of the most critical factors driving the mobile device management market growth.
Due to the outbreak of COVID-19, service firms are increasingly embracing work-from-home culture. Any employee working remotely significantly increases the risk of a compliance deficiency and poses a risk to firms’ most sensitive data. To mitigate these risks, firms need to undertake countermeasures like adopting mobile device management applications to increase supervision and security features, which boost the mobile device management industry globally.
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COVID-19 Impact Analysis
COVID-19 has caused the overall semiconductor industry to mobilize quickly and make short-term decisions with long-term implications. Semiconductor companies operate in a complex ecosystem, working across the value chain with numerous raw materials, assembly, test, package, and equipment suppliers & partners across the globe.
Demand from the wireless communication segment is expected to increase, owing to factors such as rise in broadband usage, higher demand for cloud services, and video streaming. In addition, in medium to long term, COVID-19 is expected to further push the need for digital transformation and technologies, such as 5G, IoT, AI, and intelligent edge computing, for future optimization.
Some of the mobile device management device manufacturers have witnessed temporary delays in mobile device management production, increased costs, and revenue losses due to the pandemic.
The manufacturing sector witnessed severe loss, and thus no new orders have been placed during the pandemic. In addition, this impact is estimated to continue till 2021. Moreover, international consumer electronics and electric devices markets are in a very weak state, owing to lockdowns imposed to tackle the pandemic. Although the markets in the U.S. and Europe witnessed mild recovery in the second half of 2020, they are still significantly down on pre-crisis levels. Therefore, the mobile device management market is facing major obstacles from the emergence of COVID-19 pandemic.
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The overall impact of the pandemic is impacting the production process of several industries, including semiconductor and electronics. Trade barriers are further constraining the demand and supply outlook. The overall production process is adversely affected as governments of different countries have already announced total lockdown and temporary shutdown of industries.
Key Findings Of The Study
• By industry vertical, IT & telecom sector is projected to be the major end user during the forecast period.
• Asia-Pacific and Europe dominated the market in 2020.
• Europe is anticipated to witness highest growth rate during the forecast period.
• U.S. was the major shareholder in 2020 in the North America mobile device management market analysis.
The key players profiled in this report include Citrix Systems Inc., Microsoft Corporation, Blackberry Ltd., IBM Corporation, Samsung Electronics, Cisco System Inc., Vmware Inc., SAP SE, Quest Software, Sophos Ltd. These key players have adopted several strategies, such as new product launch & development, acquisition, partnership & collaboration, and business expansion, to increase their footprint in the mobile device management industry during the forecast period.
Report Overview: https://www.alliedmarketresearch.com/mobile-device-management-market-A12421
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