Enterprise mobility market to register 5.5% CAGR between 2019-24

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Hyderabad: Enterprise mobility market value in India has declined from $860 million in 2019 to $800 million in 2020. Despite this fall in value, Enterprise mobility market in India is expected to maintain a 5.5% CAGR for a five year period between 2019 to 2024.

Enterprises adopting remote working and BYOD (bring-your-own-device) strategies are driving forces of this growth rate, according to GlobalData‘s latest forecast.

The uncertainty seen in business environment amid the COVID-19 pandemic has led enterprises in India to take a conservative approach towards ICT spending in 2020, which has dented opportunities for Enterprise mobility market in the country during the year.

However, with business activity slowly picking up, enterprise spending on ICT including the enterprise mobility solutions is expected to recover in 2021. 

Businesses are slowly returning to full-scale operations and are allowing their employees to even work-from-home and use their own devices to access the corporate network.

“Their investments on enterprise mobility solutions that can support remote working model by securing, monitoring and managing mobile devices, including those owned by employees, will only increase going forward,” said Nidhi Gupta, Technology Analyst – GlobalData.

Enterprise mobility software/applications comprising mobile application platform management, mobile content and device management, and telecom expense management. In value terms, these software categories represent the largest segment for Enterprise mobility market in India.  

The growth in the software segment will be led by mobile application platform management (MAPM) software, which will see its market value increase at a CAGR of 8.3% over 2019-2024, according to Gupta.

With many companies expected to hire new staff as their businesses pick up and allow them to work remotely, their spending on MAPM software. This can equip the staff with enterprise apps they need and provide secure access to the same on their mobile devices, will increase, pointed out Gupta.

“Managed mobility services will see its value grow at a 5.4% CAGR during the forecast period. The growing complexity of managing the ever-rising number of device platforms and apps connecting remote workers with enterprise infrastructure will drive demand for managed mobile services,” concluded Gupta.

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