DUBLIN, Dec 1, 2016 /PRNewswire/ -- Research and Markets has announced the addition of the "Mobile Device Management Market by Solution (Device Management, Application Management, Security Management, and Network Service Management), Service, Deployment Type, Vertical, and Region - Global Forecast to 2021" report to their offering.
The Mobile Device Management (MDM) market size 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% The Mobile Device Management market is broadly classified by vertical into education; healthcare & life sciences; Banking, Financial Services, and Insurance (BFSI); retail; government & public sector; manufacturing; aviation; transportation & logistics, and others. The BFSI sector commands the major market share; education is expected to be the fastest-growing vertical in this market as the number of students and faculties bringing mobile devices to educational institutions is increasing and this trend is compelling IT departments to change the way they manage these devices. Application management is expected to dominate the solution segment as well as be the fastest-growing solutions in the Mobile Device Management market as this solution provisions and controls the access to the mobile applications in an organization, on company-provided and BYOD devices. The solution also provides granular controls to the administrators in an organization which ultimately helps them in managing and securing the app data. The Mobile Device Management market is segmented across five regions, namely, North America, Asia-Pacific (APAC), Europe, Middle East and Africa (MEA), and Latin America. North America is expected to account for the largest share of the overall MDM market in 2016, owing to factors such as technological advancement, increased mobile workforce, increased smartphones penetration and BYOD trend. APAC is expected to have the highest growth rate during the forecast period as organizations in this region are looking to adopt enterprise mobility solutions to meet the demands of the dynamic mobile workforce and economic growth. Usage of mobile devices by the high percentage of young population, demand for cloud-based solutions by SMEs, and the growing BYOD trend are some of the factors driving the overall Mobile Device Management market in this region.