Rise in adoption of cloud-based technology among enterprises is expected to create lucrative opportunities for the key players in the industry. Surge in data & mobile devices in organizations and increase in cloud & mobile applications in various industries drive the growth of the global enterprise mobility market.
Key market players such as Amtel, Inc., Blackberry Limited, Citrix Systems, Inc., IBM Corporation, Infosys, Ltd., Microsoft Corporation, SAP SE, Sophos Ltd., Soti, Inc., and VMware, Inc.
The global enterprise mobility market was estimated at $19.65 billion in 2019, and is anticipated to hit $151.51 billion by 2027, registering a CAGR of 29.3% from 2020 to 2027.
Based on geography, North America garnered the major share in 2019, holding more than one-third of the global enterprise mobility market, owing to the growing penetration of smartphones for business activities in Canada. Asia-Pacific, on the other hand, would showcase the fastest CAGR of 30.9% from 2020 to 2027, due to the fact that the key players have established an inviolable market in countries such as India and China.
Based on component, the solution segment accounted for nearly three-fourths of the global enterprise mobility market share in 2019, and is projected to rule the roost by 2027. Rise in need to ensure the security of the IT infrastructure of organizations propel the segment growth. At the same time, the service segment would exhibit the fastest CAGR of 32.6% throughout the forecast period, due to growing adoption of services among end users, as they ensure effective functioning of enterprise mobility solution.
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Based on deployment, the on-premise segment contributed to nearly three-fifths of the global enterprise mobility market revenue in 2019, and is expected to lead the trail from 2020 to 2027, due to its security features and high data transfer speed. Simultaneously, the cloud segment would register the fastest CAGR of 30.8% during the forecast period. Rise in adoption of cloud services across various industry verticals fuels the segment growth.
Covid-19 scenario
- The outbreak of the pandemic increased the drift of remote working system across the globe. This, in turn, has accelerated the demand for enterprise mobility solutions among the organizations.
- The cloud based solution has become highly effective in the work-from-home culture, as it helps manage the employees’ data and perk up productivity to a considerable extent.
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