Rise in cyber threats among organizations coupled with compliance regulations, growing usage of mobile devices among the workforce, and increase in IT asset footprints drive the growth of the global Unified Endpoint Management Market. On the other hand, high deployment costs and device and OS fragmentation impede the growth to some extent. However, growing adoption of cloud-based solutions is anticipated to pave the way for multiple opportunities in the industry.
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By component type, the solution segment accounted for more than three-fifths of the global unified endpoint management market share in 2020, and is anticipated to retain its dominance throughout the forecast period. This is owing to the growing demand for data security solutions and the ability to deliver better business productivity. The services segment, however, would showcase the fastest CAGR of 33.5% by 2030.
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Based on deployment model, the on-premise segment held the lion’s share in 2020, contributing to nearlythree-fifths of the global unified endpoint management market, and is expected to continue its lead during the forecast period. This demand is attributed to enhanced security of data and better maintenance of servers offered by the on-premise deployment of unified endpoint management solutions.
However, the cloud segment is expected to witness the highest CAGR of 32.6% by 2030. The cloud segment is preferred by mid-sized financial institutions due to its low capital expenditure and low maintenance requirements, thus driving the demand for the segment.
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By geography, North America garnered the major share in 2020, contributing to nearly two-fifths of the global unified endpoint management industry. Growing trend of BYOD and work from home policies, working infrastructure to sustain day-to-day operations, availability of remote working and advanced communication, and core business operations are the key factors that propel the demand for unified endpoint management solutions in the region.
Simultaneously, the Asia-Pacific region would manifest the fastest CAGR of 34.7% throughout the estimated period. This is attributed to the growth in acceptance of mobility devices in enterprises and IoT applications, growth of BYOD policies, and cloud-based solutions in the region.
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COVID-19 Scenario
- Due to the outbreak of Covid-19, businesses were forced to shift their operations to remote working environments. As a result, companies begun bring your own device (BYOD) program or enterprise-owned equipment, thus increasing demand for UEM solutions.
- Moreover, due to the work from homepolicies during the pandemic, the demand for cloud-based solutions and the SaaS-based model increased significantly and this impacted the global unified endpoint management market positively.
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