Fast Facts: Corporate Data Security Fuels MDM Explosion

In the fast-paced IT industry, new statistics and data are released daily. Each week, Enterprise Mobility Exchange publishes Fast Facts, taking a look at interesting or noteworthy information impacting businesses.

The mobile security and management landscape has evolved just as quickly as the enterprise mobility environment itself, and while more end-to-end technologies are finding themselves on various strategy roadmaps, one component is continuing to grow steadily as it finds itself as a match in the enterprise.

See related: Rethinking Security: Q&A With MobileIron CEO

A forecast released this week by MarketsandMarkets shows the Mobile Device Management (MDM) market isn’t slowing down a bit over the next half decade, jumping in market value from $2.81 billion in 2018 to $7.86 billion by 2023, boasting a CAGR of 22.8%.

“The propagation of smartphones and tablets, the growing security concerns to protect corporate data, and the increasing need for MDM solutions to manage and synchronize different platforms through a single console are expected to be the major factors in driving the MDM market,” the report stated. “The uptake of corporate-owned devices and advancements in business applications and technologies are expected to have driven the adoption of MDM solutions across businesses.”

See related: Successful Enterprises Have A Mobile-First Mindset

As previously reported by Enterprise Mobility Exchange, some 42% of enterprises now consider themselves mobile-first, which leads to enhanced needs around management and security, forcing companies to bolt-on solutions for their standing technology.

The new forecast shows Healthcare will be the largest industry for MDM growth, and North America will hold the largest market share, but the APAC region will grow the quickest.

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