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Enterprise Mobility Management (EMM): Navigating Market Dynamics 2024
Enterprise Mobility Management Market
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According to The Business Research Company's, The enterprise mobility management market size has grown exponentially in recent years. It will grow from $19.61 billion in 2023 to $24.61 billion in 2024 at a compound annual growth rate (CAGR) of 25.5%. The growth in the historic period can be attributed to proliferation of mobile devices in the workplace, rise in bring your own device (byod), security concerns and data protection, increased mobile workforce, demand for application management and collaboration tools.
The enterprise mobility management market size is expected to see exponential growth in the next few years. It will grow to $59.8 billion in 2028 at a compound annual growth rate (CAGR) of 24.9%. The growth in the forecast period can be attributed to growing demand for 5g networks and services, increasing adoption of iot devices and services, growing demand for edge computing and distributed cloud services, increasing demand for low-latency and high-bandwidth applications, growing demand for wireless backhaul solutions in rural areas. Major trends in the forecast period include mobile application containerization, unified endpoint management (uem), cloud-based enterprise mobility solutions, emphasis on user experience and productivity, mobile threat defense solutions.
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Market Drivers and Trends:
The increasingly mobile workforce and the adoption of BYOD programs within enterprises are expected to propel the growth of the enterprise mobility management market going forward. Bring your own device (BYOD) refers to a set of policies at a firm that allows employees to use their devices to access business apps and data rather than being forced to utilize company-provided devices. The widespread adoption of BYOD programs and mobile workforces to individually utilize their gear and software within the enterprise jeopardizes corporate data confidentiality. For instance, in January 2022, according to Security Boulevard, a US-based media company, enterprise use of BYOD increased significantly, with 59% of firms using BYOD and 69% of IT decision-makers in the United States seeing the benefits of BYOD. Therefore, the increasingly mobile workforce and the adoption of BYOD programs within enterprises are driving the enterprise mobility management market growth.
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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Major Key Players of the Market:
International Business Machines Corporation, Microsoft Corporation, BlackBerry Limited, VMware Inc., Cisco Systems Inc., MobileIron Inc., Citrix Systems Inc., SAP SE, SOTI Inc., Sophos Group plc, Ivanti International Holding Limited, Samsung Electronics Co. Ltd., Google LLC, Apple Inc., Broadcom Inc., Palo Alto Networks Inc., Check Point Software Technologies Ltd., Mobile Solutions Services Inc., Kaspersky International Holding Limited, Wandera Limited, Apperian Inc., Zimperium Inc., Lookout Inc., ManageEngine, 42Gears Mobility Systems Private Limited, Absolute Software Corporation, Mitsogo Inc., Baramundi Software AG
Enterprise Mobility Management Market 2024 Key Insights:
• The enterprise mobility management market size is expected to see exponential growth in the next few years. It will grow to $59.8 billion in 2028 at a compound annual growth rate (CAGR) of 24.9%.
• Rising Enterprise Mobility And Byod Adoption Driving Growth In Enterprise Mobility Management Market
• New Enterprise Mobility Management To Address The Growing Demand For Efficient And User-Friendly Solution
• North America was the largest region in the enterprise mobility management market in 2023
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