Enterprise Mobility Management Market Expected to Grow by USD 53,688.83 Million at a CAGR of 18.62% by 2027
The enterprise mobility management market is projected to experience substantial growth over the next few years, reaching a value of USD 53,688.83 million by 2027. This represents a compound annual growth rate (CAGR) of 18.62% during the forecast period. These estimations come from a recent report by Technavio.
One of the key trends driving the growth of the enterprise mobility management (EMM) market is the increasing adoption of EMM solutions in the banking, financial services, and insurance (BFSI) sector. The BFSI industry has witnessed significant changes in the past two decades, with the need for quick resolutions due to digitization and the rise of internet services and international transactions. EMM solutions can assist banks in controlling the cost of mobile data by allowing IT administrators to remotely define cellular data thresholds and corresponding actions. Additionally, these solutions offer enhanced security features that can detect and address potential risks, especially in kiosk-based services. The combination of kiosks, digital signage, and secure browser technology can provide superior customer experiences while ensuring data protection.
The report by Technavio offers a detailed analysis of the enterprise mobility management market, providing insights into its scope and segmentation. The market is segmented by enterprise size, with large enterprises expected to hold a significant share during the forecast period. Large businesses typically have substantial workforces and a wide range of business activities, necessitating scalable EMM solutions. Security features are of utmost importance for these enterprises, given the large number of mobile devices used by their employees across multiple departments and locations.
The adoption of bring-your-own-device (BYOD) policies in organizations is driving the growth of the EMM market. To stay competitive, businesses need to develop a mobile workforce capable of adapting to constantly changing business scenarios. Business and individual users depend more and more on the internet to fulfill their personal and business needs, leading to the implementation of BYOD policies. EMM vendors have introduced numerous solutions to capitalize on this trend, driving the overall market growth.
While the EMM market presents promising opportunities, there are challenges to consider. Privacy and compliance issues associated with EMM solutions could hinder market growth. As organizations implement EMM solutions to secure their mobile ecosystems, sensitive information such as employee data, device information, and corporate data accessed through mobile devices are collected and managed. Furthermore, EMM solutions involve monitoring and tracking employee activities on mobile devices, raising concerns about privacy and compliance. Addressing these challenges will be crucial for sustained market growth.
In terms of vendor analysis, the enterprise mobility management market is fragmented, with numerous players operating in the space. Some of the prominent vendors mentioned in the report include BlackBerry Ltd., Cisco Systems Inc., Citrix Systems Inc., Microsoft Corp., SAP SE, and VMware Inc., among others. Technavio’s research reports provide comprehensive coverage, competitive intelligence, and actionable market insights to support businesses in identifying opportunities, developing effective strategies, and optimizing their market positions.
The enterprise mobility management market presents substantial growth potential, driven by the increasing adoption of EMM solutions in the BFSI sector and the rise of BYOD policies in organizations. While privacy and compliance challenges exist, addressing them will be crucial for sustained market growth. Businesses in the EMM market can leverage these trends and challenges to capitalize on emerging opportunities and ensure their long-term success.
This press release was originally published by PRNewswire on August 1, 2023.
