MOBILE DEVICE MANAGEMENT MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)


Mobile Device Management Market Analysis:

The mobile device management (MDM) market has been valued at USD 6.9 billion in the current year and is projected to reach USD 22 billion by the end of the forecast period, exhibiting a Compound Annual Growth Rate (CAGR) of 26.1% during the forecast period. The growth of the market is expected to be driven by several factors, including the increasing security concerns, the need to manage and secure a growing number of mobile devices, the rising adoption of cloud-based mobile device management solutions, and the growing demand for remote management capabilities.

Mobile devices have become an integral part of the modern workplace, enabling employees to work from home, the office, or on the go. However, this convenience also exposes organizations to potential threats, making it essential to manage the security and health of mobile devices to minimize risk. The adoption of Bring Your Device (BYOD) policies and the need to protect corporate data from security breaches are significant factors driving the growth of the MDM market. The proliferation of BYOD has become a force across the business landscape, and organizations must deploy a platform that offers high oversight and robust data protection to manage the rapidly expanding fleet of mobile devices.

Devices without the protection of an MDM are at an increased risk of malware and other virus attacks that could compromise confidential data. Any compromise in personal data can permanently affect an organization’s reputation with its consumers and other business partners, making it a critical factor driving the market. Additionally, the use of low-quality mobile phones can increase the risk of explosions due to the use of cheap electronic components and lithium-ion batteries that are not adequately tested. An MDM system can help import genuine mobile devices that meet quality and standards.

In May 2023, the Nepal Telecommunications Authority introduced the Mobile Device Management System, a security software that facilitates the regulator to implement policies that secure, monitor, and manage end-user mobile devices. According to the authority, 27,000 individuals have registered their phones with the MDMS, including registration of the International Mobile Equipment Identity (IMEI) number, a unique 15-digit code that precisely identifies the device with the SIM card input.

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