Device Management Market Size, Share & Industry Analysis, By Deployment (On-Premise, Cloud), By End User(Telecom and Information Technology, Banking and Financial Service, Healthcare, Retail, Government, Manufacturing, Other) And Regional Forecast, 2024-2032

Device management enables administrations to secure and protect their data and resources and from different devices. The organization can ensure that only authorized devices and people can access proprietary data by using a device management solution

Organizations have increasingly started focusing on wider enterprise mobility choices to improve overall productivity and operational efficiency. Thus, the rising trend of enterprise mobility solutions has escalated the demand for mobile device management solutions. Mobile device management solutions perform critical functions such as remote access, PIN enforcement, root detection, security analysis, data loss prevention (DLP), data encryption, and application tunnels. Mobile device management solutions can be easily integrated with additional security tools and services to enhance enterprise mobility systems' security.

The rising security concerns and trend of bringing your device (BYOD) are significant factors influencing the device management market's growth. The rapidly increasing fleet of mobile and portable devices has become a crucial consideration for all organizations. It drives mobile device management system deployment that offers robust data protection and a high level of oversight. Besides, cumulative adoption of the internet of things-based applications bolsters the demand for device management software. The need for efficient management of connected devices and rapid advancements in technology leads to device management solutions. Enterprises are increasingly looking for mobility solutions to manage their mobile workforce and protect data from cyber-attacks, data breaches, and other severe losses. This factor further influencing the demand for mobile device management solutions.

Key Market Driver -

• Rising security concerns for data protection will fuel the demand • Increasing adoption of BYOD would likely to accelerate the market growth

Key Market Restraint -

• High initial set-up cost impacts the overall adoption of solution

Key Players Covered:

Many small and large vendors operating the global device management market provide featured solutions and services in the international market. The major companies adopt various business growth strategies such as product innovation and product enhancement to offer a mobile device management solution as part of their enterprise mobility management offerings. For instance, in August 2019, VMware, Inc., announced the innovations for its mobile device management and enterprise mobility management solution at VMworld 2019. These innovations aimed to engage an employee and improve employee productivity.

The key players operating the global device management market include Vmware, Inc., Citrix Systems, Inc., MobileIron Inc., IBM Corporation, Broadcom Inc. (Symantec Corporation), Sophos Group plc., Centrify Corporation, Kaspersky Lab Inc., SAP SE, Ivanti Software Inc., Cisco Systems Inc., BlackBerry Limited, SOTI Inc, Miradore Ltd., JAMF, and among others.

Regional Analysis:

North America is expected to emerge as one of the significant markets, principally attributed to the cumulative demand for advanced technology across various industries. Substantial smartphone adoption, rising BYOD penetration, the proliferation of 5G services, and the high need for security are the key factors driving market growth in the United States. The adoption of IoT-enabled devices positively impacts market growth across North America. The rising dependence on choose your own device (CYOD) and bring your own device (BYOD) trends in the United States and Canada's corporate sector offers employees real-time access to various applications and data, which drives the region's device management market.  

The growing adoption of portable connected devices in North America and Europe will drive mobile device management solution’s demand. Besides, numerous well-established organizations and government assists in the growth of the device management market in Europe and North America.

The Asia-Pacific is anticipated to register the highest CAGR in the IoT device management market due to the government's progressive initiatives for the digitalization and IoT development. Smart nation’s agenda initiated in various Asian countries including Singapore, India, Japan, China  and dynamic adoption of smart infrastructure projects such as smart cities, smart grids, and smart buildings will likely propel market growth across the Asia-Pacific. Well-known Asian countries, such as China, India, Japan, Singapore, and Australia, are taking various initiatives in research and development activities and supporting IoT deployments in the manufacturing, utilities, and retail sectors.

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Segmentation

Key Industry Developments:

• April 2020: Ayla Networks Inc. and Firedome Inc. announced a strategic partnership to integrate Ayla’s internet of things (IoT) management solution with Firedome’s advanced privacy and cybersecurity service. The integration aimed to upgrade the manufacturer’s products with smart monitoring and control capability.