Report

The Enterprise Mobility Security Market size is estimated at USD 1.21 billion in 2024, and is expected to reach USD 2.10 billion by 2029, growing at a CAGR of 11.70% during the forecast period (2024-2029).

Enterprise mobility or business mobility is recognized as the growing trend among businesses to offer remote working options, which also allows the use of personal mobile/laptop devices for business purposes and makes efficient and effective use of cloud technology for data access.

Key Highlights
-The enterprise's adoption of cloud-based services has been a massive enabler for vendors, as this provides the flexibility of delivering solutions that can be offered based on the number of users and can also be updated without disrupting the services while doing so. Since these solutions are difficult to switch from one solution provider to another, the competition in getting new customers is high. It requires a considerable amount of time and money to create an infrastructure that can be supported.
-The vendors in the market studied offer cross-platform support for their solutions to address the need of enterprises to support multiple device types used by their employees. Android, Windows, iOS, macOS, and Samsung Knox are a few such platforms that are supported. The EMS can provide secure business productivity by providing either or all these services, such as a unified launcher to access all apps, secure browser, email, calendar, contacts or cards, separate corporate identity on personal devices, secure instant messaging, secure notes, and access to cloud-stored files.
-In a modern workspace, where bring-your-own-device (BYOD) and mobility scenarios are gaining increased significance, EMS helps IT administrators meet the challenges of data protection and risk management. Additionally, the introduction of 5G is expected to shape the landscape of enterprise mobility further. This is because 5G will be able to make remote work faster and easier. It will provide a more reliable experience and will also offer businesses and their employees greater flexibility.
-Market vendors face challenges in the market as multiple enterprises have legacy OS still functional in their enterprises. Such challenges make it necessary for the market players to provide support for older versions of OS as a one-time switch cost to a new platform, making it a complicated option for multiple vendors to offer solutions with minimum price.
-The spread of COVID-19 increased the demand for EMS solutions. According to Owl Labs, about 16% of global companies are fully remote, whereas 40% offer in-office and remote work, which is in line with what most employees prefer. This number is expected to increase soon as companies embrace the work-from-home culture.


Enterprise Mobility Security Market Trends

Banking/Insurance Industry to Hold Significant Market Share


- Banking/insurance services have been experiencing a business transition with digitization, internet services, and international transactions require fast redressal. Banking, financial services, and insurance (BFSI) have evolved from being a service that requests the customers to visit for the service to a bank that reaches customers at their homes. BFSI stores critical financial and personal data of the customer and clients and uses them to provide services. This creates a threat for security breaches across financial institutes of many countries worldwide. For instance, in August 2022, according to the government of India, the country reported 248 successful data breaches in the banks, out of which Private sector banks reported 205 data breaches, while PSBs reported 41.
- With the changing banking ecosystem, the banking officers need to access the core services on the move and use public network connectivity services to create a unique user experience. Emerging technologies, such as blockchain and voice command integration, are expected to emerge as mainstream for the BFSI over the forecast period, with multi-factor authentication becoming a norm in the market segment.
- Financial institutions employ a modern cybersecurity approach, the Zero Trust model through EMS. Adopting this model can help banks strengthen their security posture, so they can confidently support initiatives that give employees and customers more flexibility.
- The adoption of EMS has been majorly driven owing to the need to meet security compliance in the BFSI sector. Device provisioning, for instance, aids the BFSI organizations in remotely configuring mobile devices and providing access to corporate data resources and enterprise apps. BFSI apps include tools, such as wealth management, mortgages, and insurance, which the employees need to access financial apps through the tablets outside the banks to connect to the customers, which requires EMS software for security purposes, hence driving the market.
- The market segment's opportunity is majorly in the small-scale and cooperative banks, which still have the scope for digitization and adoption of such services. The emergence of video-based banking services is expected to create an opportunity for enterprise-level banking and insurance businesses.


Asia-Pacific to Witness the Highest Growth


- The Asia-pacific region consists of many emerging economies, and increasing digitalization trends across industries in the region is creating an opportunity for the Enterprise mobility security market because due to digitalization and decentralization of business process for flexibility, the usage of many mobile devices such as smartphones, laptops, and tablets are increasing in the services.
- Additionally, according to the Asia-Pacific digital transformation report published in August 2022 by the United Nations, the mobile industry has made yearly investments in services, infrastructure, and other advancements over the past five years. More than USD 400 billion of this total was invested in Asia and the Pacific. As a result, the countries of the Asia-Pacific are becoming more connected to one another and to the rest of the globe, which is fuelling the market growth in the region.
- Companies in the Asia-Pacific region are embracing BYOD to increase employee satisfaction and productivity, especially in China and India. The growth in high-speed network coverage and smartphone adoption leads to a surge in the use of mobile data in Asia-Pacific.
- Banks have activated remote working tools, allowing their employees to work from home. Financial service providers have deployed live-stream events moving from physical to virtual customer events, and online training for remote servicing is picking up. However, these kinds of scenarios are expected to increase the demand for mobility security services.
- The adoption of 5G in government administration supports the development of smarter utilities, cities, and public safety agencies. Central banks are using the underlying technologies, such as blockchain, and they support the use of technology to encourage further innovation. Due to 5G and AI, every industry is evolving; the government can increase its transportation productivity by implementing smart transportation technologies and connected vehicles. Digital connections have also given society a whole new way to help people. This trend of adoption of smart technology increases the risk of security breaches in the region, which is creating an opportunity for the enterprise mobility security market across various end-user industries in the region.


Enterprise Mobility Security Industry Overview

The enterprise mobile security market needs to be more cohesive. Players in the market adopt strategic initiatives such as mergers and acquisitions, partnerships, and new product offerings due to increasing awareness regarding mobility security among enterprises. Some of the recent developments in the market are:

In October 2022, SyncDog Inc, the leading Independent Software Vendor for mobile security and data loss prevention, announced a partnership with 3Eye Technologies to accelerate the development of a more innovative, more complex product for its mobility and cloud strategy. SyncDog would leverage 3Eye Technologies' distribution capabilities through these partnerships to build upon its growing market presence and engage with more customers across new commercial markets and nations.

In August 2022, CWSI, a mobile and cloud security company in Ireland, acquired mobco, a modern workplace and mobility firm located in Dilbeek, Belgium, and Capellen, Luxembourg. Due to the acquisition, the customers of mobco would have access to the extensive technical resources and expertise of CWSI, including its dedicated Microsoft Security Practice, which has been supported by CWSI's Microsoft Gold Security competency and membership in the Microsoft Intelligent Security Association.

In July 2022, Jamf, an Apple-focused mobility provider, partnered with Microsoft's enterprise mobility security to offer Mac security for using Macs in Enterprise applications. Due to these partnerships, organizations could verify user credentials and check the Mac has been managed and compliant using Microsoft EMS and Jamf Mac management before allowing access.

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- The market estimate (ME) sheet in Excel format
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