New York, USA, Nov. 01, 2021 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global mobile device management market is predicted to garner a revenue of $24,161.1 million by 2027, growing at a CAGR of 28.2% during the forecast period 2020-2027. The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market such as 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 Global Mobile Device Management Market
Drivers: Remarkable rise in the manufacturing of new mobile phones across the globe is expected to drive the growth of the market. In addition, increasing application of mobile device management software to protect crucial data of the organization is further expected to bolster the growth of the mobile device management market during the forecast period.
Restraints: Strict rules and regulations imposed by the government concerning the data access on mobile device management is expected to hinder the growth of the market during the forecast period.
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Segments of the Global Mobile Device Management Market
The report has divided the mobile device management market into various segment based on deployment type, organization size, industry vertical and region.
Deployment Type: Cloud Sub-segment to be Most Profitable
The cloud sub-segment generated a revenue of $1,390.7 million in 2019, and hence is expected to grow exponentially during the forecast period. It significantly improves the efficiency of the employee to perform tasks as they offer a coherent remote access, making it extremely convenient for the employee working in an organization. This factor is expected to drive the growth of the sub-segment during the forecast period.
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Organization Size: Small and Medium Sub-segment to Have the Highest Growth Rate
The small and medium sub-segment is expected to surge rapidly with a CAGR of 29.7% during the forecast period. Increase in the number of small and medium enterprises across the globe and their extensive use of mobile devices to get their daily work done are expected to bolster the growth of the mobile device management market sub-segment during the forecast period.
Industry Vertical: Retail Sub-segment to Witness Maximum Growth Rate
The retail sub-segment is predicted to grow expeditiously with a CAGR of 29.4% during the forecast period. Numerous retailers across the globe are using mobile devices for their functional work for protecting the data. This factor is expected to stimulate the growth of the market during the forecast period.
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Region: Asia-Pacific Region to Create Immense Growth Opportunities
The Asia-Pacific region is expected to surge abruptly with a CAGR of 29.1% during the forecast period. Availability of low-cost and skilled labor in this region is expected to drive the growth of the market. In addition, shifting of huge number companies in this region due to the cheap investment cost in setting up manufacturing plants is expected to bolster the growth of the regional mobile device management market during the forecast period.
Key Players of the Global Mobile Device Management Market
1. IBM
2. SAP SE
3. Google
4. Cisco System Inc.,
5. Microsoft
6. Samsung
7. Blackberry
8. Citrix Systems Inc.,
9. VMware Inc.,
10. Quest Software
For instance, in June 2020, Apple Inc., an American multinational technology company that specializes in consumer electronics, computer software, and online services, acquired Fleetsmith, an innovative mobile device management startup, in order to bring in an important new capability and maximize its brand portfolio.
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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