The global Enterprise Mobility market, valued at USD 20,829.3 million in 2021, is set to experience significant growth with a projected CAGR of 28.5%. The surge in demand for workplace mobility solutions is driven by the expanding mobile workforce and the adoption of Bring Your Own Device (BYOD) programs by enterprises. BYOD programs enable employees to work remotely, boosting productivity by providing access to business data from anywhere at any time.
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Market Dynamics
Workforce Mobility and BYOD Adoption Fuel Growth
The Enterprise Mobility market is on an upward trajectory due to the increase in mobile workforce and the adoption of BYOD programs. These programs enhance worker productivity by allowing employees to work remotely and access business data through personal devices. The ease and flexibility offered by BYOD in small and medium-sized organizations have led to greater acceptance of enterprise mobility solutions. Additionally, heightened security concerns have further driven the markets growth.
Rising Demand for Smartphones Drives Market
The growing demand for smartphones is a significant driver of the workplace mobility market. According to the United Nations, the global number of smartphone users is expected to reach 6.648 billion by 2022, covering 83.37% of the worlds population. Enterprise mobility enhances employee productivity by enabling them to work from convenient locations outside the office. This trend also fosters unified communications and collaboration among employees, contributing to market growth.
Regional Opportunities
Asia-Pacific and MEA Offer High Potential
The expanding industrial economies of Asia-Pacific, the Middle East & Africa, and Latin America present substantial opportunities for the BYOD and enterprise mobility industry. These regions are witnessing rapid growth in cloud-based applications, making them attractive markets for enterprise mobility solutions. Additionally, the mature cloud-based application market in North America and Western Europe contributes to the BYOD and enterprise mobility markets. North America, for instance, boasts an increasing number of cloud customers, such as the US Government, which further drives BYOD adoption.
Enterprise Mobility Market: COVID-19 Impact
Shift to Remote Work Accelerates Adoption
The COVID-19 pandemic prompted a shift towards remote work as employers provided employees with remote access options to work outside traditional office settings. To mitigate virus spread, remote work arrangements were encouraged, leading many companies to adopt BYOD policies. Enterprises ensured employees had the necessary resources to work from home, including secure access to corporate data. These factors contributed to the adoption of Enterprise Mobility Management (EMM) systems among major corporations.
Market Drivers
Remote Work Culture Spurs EMM Adoption
The pandemic-induced remote work trend has accentuated the importance of mobility in the workforce. EMM solutions gained popularity as they enable remote management, updates, and data deletion from devices. EMM solutions are crucial in managing Mobile Device Management (MDM) and remote workforces, especially in the current pandemic scenario. The trend towards remote work has resulted in 557 million individuals, or 17.4% of the global workforce, working remotely during the second quarter of 2020. As a result, EMM adoption has become pivotal for managing unmanaged remote endpoints and ensuring cybersecurity.
Increasing Cybersecurity Concerns Drive EMM Adoption
Rising instances of enterprise mobile phishing attacks have propelled the need for EMM solutions. Phishing attacks targeted at enterprises have grown consistently, with 83% of businesses experiencing such attacks in 2021. This trend is expected to continue, with an estimated six billion more attacks forecast for 2022. As phishing attacks become more effective, the need for training employees on mobile security protocols becomes critical. The adoption of AI-powered authentication systems and robust security mechanisms is crucial to safeguarding corporate data and countering cyber threats.
Market Restraints
Customization Challenges Hamper Growth
EMM solution vendors face challenges in customizing solutions to meet the diverse requirements of different businesses. The lack of flexibility and agility in addressing multi-user connections and various security standards hampers the implementation of EMM solutions. Different enterprises have unique security standards for mobile devices connecting to their networks, and tailoring EMM solutions to meet these varied needs is complex. Customization is essential to ensure a consistent end-user experience and align the EMM solution with specific business demands.
Market Segments
Cloud Mode Leads with Operational Flexibility
The cloud deployment mode is expected to dominate the market due to its operational flexibility. Cloud-based Enterprise Mobility Management (EMM) solutions, delivered through Software-as-a-Service (SaaS) models, offer digital access to EMM solutions via the internet. While cloud deployment offers benefits like flexibility, scalability, affordability, operational efficiency, and reduced costs, it also presents challenges such as a lack of application control and compliance with government regulations.
BFSI Sector Drives Adoption
The Banking, Financial Services, and Insurance (BFSI) sector is projected to hold a significant share of the market, driven by the industrys emphasis on workplace mobility and BYOD. The sectors transition towards digital banking and the adoption of mobile apps and other mobility solutions fuel demand for EMM solutions. Furthermore, the BFSI sectors regulatory requirements make it an early adopter of new technologies like enterprise mobility.
Regional Landscape
North America Leads with Digitization Initiatives
North America is expected to dominate the Enterprise Mobility market, holding the largest market share. The region is home to prominent EMM vendors such as IBM, Microsoft, and Citrix, driving innovation and product offerings. Digitization initiatives across verticals like BFSI, retail, healthcare, and life sciences in North America contribute to the adoption of EMM solutions. The prevalence of remote work and the demand for enhanced security further bolster EMM adoption in the region.
Global Enterprise Mobility Market: Competitive Landscape
Innovative Solutions Drive Market Players
Key players in the Enterprise Mobility market are focused on innovation and technology to enhance their offerings. Notably, Blackberry Limited introduced the BlackBerry Spark Suite, a comprehensive solution aimed at improving user productivity and security. Citrix Systems Inc. and Microsoft Corporation forged a partnership to provide digital workplace solutions, responding to the increasing demand for remote work solutions.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/enterprise-mobility-market
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