Geographically-spread enterprises are constantly faced with scenarios that require the convergence of a large number of communication channels and inclusion of foreign computing devices in the central network. With a vast rise in mobile devices that need to be integrated with enterprise networks, mostly owing to the increasing trend of policies such as bring-your-own-device and choose-your-own-device, and diversely located workplaces and employees, the need for adopting enterprise mobility solution has become profound in the past few years.
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Modern enterprise business strategies require a much faster pace of operations, especially if the enterprises are looking to become a globally prominent entity. In order to achieve this highly sought-after competitive advantage, companies are looking to the solutions offered by enterprise mobility players. Enterprise mobility services and solutions have proven to enhance the decision-making speed of enterprises, thereby generating an increasing demand for enterprise mobility solutions.
Transparency Market Research estimates that the global enterprise mobility market will expand at a high 24.7% CAGR over the period between 2015 and 2024. Expanding at this pace, the market, which held an opportunity of US$86.36 bn in 2014, is expected to rise to a valuation of US$510.39 bn by 2024.
Enterprise Mobility Applications across BFSI Industry to Lead to Most Promising Returns
Currently, the most prominent applications of enterprise mobility are found across industries such as banking, financial services and insurance (BFSI), manufacturing, retail, transportation and logistics, and IT and telecommunication. Of these, the IT and telecom industry currently has a strong influence on the overall development of the global enterprise mobility market. Applications across this industry contributed revenues of nearly US$24.64 bn to the global market in 2014, accounting for a 28.5% share. The IT and telecom industry is also expected to remain the most influential end-use industry for the global enterprise mobility market over the next few years, contributing revenues totaling nearly US$151.12 bn to the global market in 2024.
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However, the BFSI industry will lead to the most promising returns enterprise mobility solutions in the near future. Over the period between 2015 and 2024, applications of enterprise mobility across the BFSI industry will expand at the fastest CAGR of 25.7%. End-use industries such as hospitality, retail, manufacturing, and automation are also expected to lead to excellent demand for enterprise mobility solutions over the said period.
North America to Retain Dominance but Asia Pacific to Emerge as Most Encouraging Regional Market
The market for enterprise mobility in North America is presently the dominant regional market globally. The region contributed revenues totaling US$25.18 bn to the global market, accounting for a share of 29% of the global market’s revenues in 2014. The region remains at the forefront of the global enterprise mobility market owing to the high concentration of leading vendors and high rate of adoption of technological advances across enterprises. Over the forecasting horizon as well, the enterprise mobility market in North America is expected to grow at a significant pace.
However, the North America market for enterprise mobility is expected to lose prominence to Asia Pacific, which is estimated to expand at a high CAGR of 25.7% over the period between 2015 and 2024. The Asia Pacific enterprise mobility market will gain traction owing to the rising workforce of mobile device users, adoption of cloud infrastructure, flourishing end-use industries, and increasing demand for digital advancements across enterprise infrastructures. Asia Pacific enterprise mobility market’s revenue contribution to the global market is expected to rise to US$122.60 bn by 2024.
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The global enterprise mobility market is highly fragmented, featuring the presence and dominance of some of the world’s most eminent technology giants. The most prominent vendors in the market include companies such as Symantec Corporation, MobileIron, Microsoft Corporation, Citrix Systems Inc., Alcatel Lucent S.A., Cerner Corporation, Cisco Systems, Inc., Nokia Corporation, SOTI, Inc., IBM Corporation, Avaya Inc., AT&T Inc., Hewlett Packard Development Company Ltd., BlackBerry Ltd., and Panasonic Corporation.
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