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Secure Device Management Market Size Forecast to Reach $21.25 Billion by 2027

Secure Device Management Market Overview

The global Secure Device Management market size is forecast to reach $21.25 billion by 2027, growing at a CAGR of 28.52% from 2022 to 2027. Secure device management solutions and services are essential cyber defense technology that is used to secure and manage fleets of devices in a workspace or enterprise. Some common examples of secure device management solutions and services are Virtual Private Networks (VPNs), Advanced Threat Protection (ATP) and Intrusion Detection System (IDS). Secure device management solutions and systems are used primarily in the security infrastructure of banks, airports, government offices and so on. A growing work-from-home culture has influenced the growth of cloud services thereby driving secure device management industry. Further increase in security to protect the abundance of corporate data and rise in adoption of bring your own device (BYOD) among the enterprises are the major factors influencing the growth of the Secure Device Management Market share. In addition, surge in compliance among enterprises to protect data and rise in stringent government regulation for device security is driving the growth of the Secure Device Management industry outlook.

Secure Device Management Market Segment Analysis – By Deployment Mode

Based on deployment mode, the cloud segment is analysed grow at a highest CAGR of 24.52% during the forecast period of 2022-2027. There is an increased demand for cloud services as the population has begun to adopt a work-from-home culture post the COVID-19 pandemic. As such, enterprises and businesses have begun to adopt more cloud secure device management solutions and services. The preference for personal mobile devices, as opposed to company-issued devices amongst employees, has also seen a rise. This has further decreased the application of on-premises secure device management services, where security services and solutions were pre-applied. According to the Institute of Electrical and Electronics Engineers’ (IEEE’s) Computer Society, as of 2021, 92% of organizations host their information technology (IT) environment in the cloud. However, accidents like the exposure of credentials and data loss & leakage are commonplace due to this. As such, secure device management for cloud services is becoming paramount in the forecast period 2022-2027.

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Secure Device Management Market Segment Analysis – By End-Users

Secure Device Management for Information Technology (IT) & Telecom is anticipated to grow with the highest CAGR of 22.73% during the forecast period of 2022-2027. The Information Technology (IT) sector and the Telecommunication sector witnessed unprecedented growth in 2020 and 2021 primarily due to the COVID-19 pandemic. As the outbreak of COVID-19 forced a global lockdown many businesses had to move their operations online and the dependence on IT had increased substantially as such. Similarly, the demand for the telecom sector also saw a spike in demand. According to the Japan Electronics and Information Technologies Industries Association (JEITA), the production of the global electronics and IT industries is estimated to have grown by 7% year-on-year in 2021 and is valued at US$ 3,175.6 billion and 5% year-on-year in 2022 to record $3,536.6 billion. Moreover, according to the Federation of Indian Chambers of Commerce & Industry (FICCI), the global Internet of Things (IoT) market is estimated to be growing at a CAGR of 17% from 2017-2025 and is estimated to be valued at US$ 1.1 trillion by 2025. The growing market for frontier technology and IT & telecom sectors prove to be an excellent driver for the growth of secure device management market size within the forecast period of 2022-2027.

Secure Device Management Market Segment Analysis – By Geography

The Asia-Pacific (APAC) region dominated the global Secure Device Management market in 2021, with a share of around 33%, and is also analyzed to have significant growth during the forecast period 2022-2027. The Asia-Pacific region is driven by an increased demand in the electronics sector which is also driving the demand for secure device management solutions and services in the region. According to the Global System for Mobile Communications Association (GSMA), the mobile industry contributed USD $ 750 billion in 2020, which accounted for 5.1% of the total GDP of the region. It is also estimated that the Asia-Pacific economic contribution of the mobile industry will increase by an additional USD $ 110 billion by 2025. According to the Japan Electronics and Information Technologies Industries Association (JEITA), Japan alone sits at a 10% share of the global production by electronics and IT companies. According to the India Brand Equity Foundation (IBEF), the IT sector of India was valued at US$ 97 billion in FY 2020. The increasing demand for the IT and electronics sector in the region has led to a surge in secure device management services and solutions. This proves to be a great driver for the Secure Device Management industry within the forecast period of 2022-2027.

Secure Device Management Market Drivers

The increase in demand for Cloud Services in the IT sector is analysed to drive the market growth in the forecast period

One of the key driving factors for the Secure Device Market is the increase in demand for cloud services, especially in the IT sector. As a result of the COVID-19 outbreak, many enterprises and organizations shifted their business operations online, primarily to support social distancing and work-from-home culture. According to the Institute of Electrical and Electronics Engineers’ (IEEE’s) Computer Society, as of 2021, 92% of organizations host their information technology (IT) environment in the cloud. However, this has also led to an increase in the frequency of accidents like the exposure of credentials data loss & leakage as well as attacks from hackers. Due to this, secure device management for cloud services is becoming increasingly important and will continue to grow more in importance as more organizations and industries begin adopting cloud technology.

The growth of the electronics and IT sector in Asia-Pacific (APAC) is enhancing the market growth in the forecast period

The Asia-Pacific region heavily dominates the global electronics and IT industry as most of the major manufacturers are headquartered in the region and the region is also essential in the global supply chain of key raw materials for the electronics and IT industry like semiconductors. This, in turn, has also led to an increase in demand for secure device management services in the region. According to the Japan Electronics and Information Technologies Industries Association (JEITA), Japan alone sits at a 10% share of the global production by electronics and IT companies. According to the India Brand Equity Foundation (IBEF), the IT sector of India was valued at US$ 97 billion in FY 2020. Hence these growing demand for electronics and IT sector in the region is analysed to create significant demand for the Secure Device Management market in the forecast period 2022 to 2027.

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Secure Device Management Market Challenges

The efficacy of Secure Device Management Services especially in Cloud Services is restricting the market growth

One of the key challenges for the Secure Device Management market is secure device management services, especially cloud security services, can still be breached and hacked. This leads to the loss and theft of data from cloud services, data leakage, and data corruption. An example of such a breach was the cyberattack on Alibaba Chinese Shopping website Taobao that impacted the user data of more than 1.1 billion users in 2019. Similarly, in June 2021, LinkedIn also fell victim to a data scarping breach that affected 700 million LinkedIn profiles. As such, the safety of data isn’t always guaranteed, and this proves to be a challenge for the Secure Device Management market within the forecast period of 2022-2027.

Secure Device Management Industry Outlook

Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Secure Device Management Market. The Secure Device Management Market top 10 companies include:

  1. VMware, Inc.
  2. Microsoft
  3. International Business Machines (IBM) Corp
  4. Google
  5. Citrix Systems, Inc.
  6. Cisco Systems, Inc.
  7. Micro Focus International plc
  8. SolarWinds Inc.
  9. Ivanti
  10. SAP SE

Recent Developments

  • In 2021, Intel and Microsoft announced the availability of a range of Windows 10 Pro devices that are powered by the Intel vPro platform for small & medium businesses (SMBs) in India. These devices help the employees stay connected and ensure safeguard against security threats.
  • In 2020, Blackberry Limited and Bell Technologies announced a new partnership that will help provide enhanced security communications to businesses and government customers.
    In 2020, Sophos Ltd. has launched Sophos Intercept X for mobile with new security capabilities. This new solution prevents users, their devices, and data from known and unknown mobile threats.

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Key Takeaways

  • The Asia-Pacific (APAC) region holds the largest share in the Secure Device Management Market within the forecast period of 2022-2027 which can be mainly attributed to the increasing demand of the electronics and IT sector in the region.
  • Due to the mass population adopting the work-from-home culture and many organizations and enterprises shifting their businesses online, the demand for cloud services has significantly increased. This has, in turn, led to the increase in demand for secure device management for cloud services.
  • The increase in demand for passenger vehicles has been on a rise, especially post the COVID-19 pandemic, as many economies are recovering. This, along with an increase in demand for electric vehicles, has proven to be an excellent driver for the Secure Device Management Market within the forecast period of 2022-2027.
  • Secure Device Management companies are strengthening their position through mergers & acquisitions and continuously investing in research and development (R&D) activities to come up with solutions to cater to the changing requirements of customers.

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PR-Wirein, Reportedtimes, Extended Distribution, Research Newswire, English

Contact Information:

Venkat Reddy
Sales Director
Email: venkat@industryarc.com
Website: https://www.industryarc.com
Phone: (+1) 970-236-3677

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