LONDON, Nov. 14, 2016 /PRNewswire/ -- "Increasing smartphone and tablet penetration, strong adoption of BYOD policies, and growing security concerns regarding corporate data is expected to drive the overall market"The Mobile Device Management (MDM) market size is estimated to grow from USD 1.69 billion in 2016 to USD 5.32 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 25.8% due to increasing smartphone and tablet penetration, strong adoption of BYOD policies, and growing security concerns to protect corporate data. In addition, MDM's capability to manage and synchronize different OS platform devices through a single console has led to an increasing demand for MDM services and solutions. However, factors such as reluctance to implement MDM solution on the employees' personal phones due to privacy constraints and low adoption of MDM solutions by Small and Medium Enterprises (SMEs) because of budgetary constraints are the major restraints in the overall growth of the market. "Application management solution is expected to dominate the market during the forecast period" In 2016, the application management segment is expected to dominate among MDM solutions. With the growing number of mobile apps, this solution provides granular controls to the administrators in an organization which ultimately helps them in managing and securing the app data. " Asia-Pacific (APAC) is projected to witness the highest growth during the forecast period"North America is expected to hold the largest market share of the MDM market in 2016 due to the increased mobile workforce, increased smartphones penetration, BYOD trend, and higher cloud-based deployment of MDM solutions in the region. APAC is estimated to grow at the highest rate during the forecast period as the organizations in this region are looking to adopt enterprise mobility solutions to meet the demands of the dynamic mobile workforce. Better economic growth, usage of mobile devices by the high percentage of young population, demand for cloud-based solutions by SMEs, use of local brands of tablets and smartphones for business purposes, and the growing BYOD trend are other factors responsible for the rapid growth of MDM market in this region. In the process of determining and verifying the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key industry personnel. The break-up of profiles of primary discussion participants is given below.