New York, USA, May 31, 2021 (GLOBE NEWSWIRE) — According to a report published by Research Dive, the global mobile device management market is anticipated to register a revenue of $24,161.1 million by 2027 at a CAGR of 28.2%, increasing from $3,019.9 million in 2019. The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market from growth factors, challenges, restraints and various opportunities during the forecast period. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.
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Dynamics of the Market
Mobile device management software helps in enhancing the device security, support, and corporate operation at the same time providing user flexibility. The instillation process of the mobile device management is easy. It is done with the help of cloud services by distribution of applications, data, and configuration settings for all types of smartphones. Moreover, in recent years, corporate data has become the first target of the cyber criminals which has increased the security concern. These are the major factors enhancing the growth of the global market of mobile device management.
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Mobile device management software restricts unauthorized personnel including the government from accessing data. This factor is expected to hinder the growth of the market during the forecast period.
Segments of the Market
The report has divided the market into different segments based on deployment type, organization size, vertical, and regional outlook.
Deployment Type: Cloud Segment Expected to be the Most Lucrative
The cloud segment generated a revenue of $1,390.7 million in 2019 and is further anticipated to garner the highest revenue at a CAGR of 29.9% by 2027. The main reason behind this growth is the benefits of using cloud in mobile device management. Use of cloud improves the employee efficiency during the remote work culture without compromising the security of the organization.
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Organization Size: Small and Medium Segment Predicted to be the Most Profitable
Small and medium sub-segment generated a revenue of $1,244.6 million in 2019 and is further expected to grow with a CAGR of 29.7% in upcoming years. Because of the benefits of mobile devices such as ease of access, amazing networking opportunities, and security, the small and medium organizations are adopting mobile device management software. This is the reason behind the growth of the market segment.
Industry Vertical: Retail Segment Expected to Earn the Highest Market Share
Retail sub-segment is expected to garner the highest growth rate with a CAGR of 29.4% during the forecast period. In retail industry, retailers are using mobile devices for operational usages. The mobile device management software secures and helps in tracking the data on a regular basis. This is the main factor influencing the growth of the segment.
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Region: Asia-Pacific Expected to Dominate the Market
Asia-Pacific regional market recorded a revenue of $814.8 million in 2019 and is further anticipated to continue the growth with a CAGR of 29.1% in the projected period. The main attributor behind this growth is the presence of the major companies in the industry across the region.
Key Players and Strategies
2. SAP SE
4. Cisco System Inc.,
8. Citrix Systems Inc.,
9. VMware Inc.,
10. Quest Software
For instance, in February 2021, Cisco, the global IT and networking leader, announced the completion of the acquisition of IMImobile PLC., a global leader in cloud communications software and services. By uniting IMImobile’s solution with Webex Contact Center, Cisco expects to provide a robust Customer Experience as a Service (CXaaS) solution. This new offering is an amalgamation of artificial intelligence, experience management, cloud contact center, collaboration and Communications Platform as-a-Service. This solution enables the organizations to provide the excellent customer-experience.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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