Enterprise Mobility in Banking Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The market can be segmented by Type ( Solutions ( Device Management​, Access Management​, Application Management and Other Solutions​) and Services), and Geography.

Market Snapshot

enterprise mobility in banking industry
Study Period: 2018 - 2026
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 24.81 %

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Market Overview

The Enterprise Mobility market in banking is expected to grow at a CAGR of 24.81% during the forecast period (2021-2026). Banks are more transaction-led than customer-centric, which inhibits them from fully engaging their customers, making it difficult to personalize and streamline the mobile user experience. Thus there is a need for enterprise mobility in the banking sector.

  • Mobile devices are almost ubiquitous and are displaying similar trends across enterprises. Thus, the deployment of appropriate controls in companies is expected to benefit them from mobility’s opportunities, while ensuring that sensitive data and devices are safeguarded.​ For instance, an EMM policy ensures that the enterprise’s application, content, and device are fully integrated, safe to use, including secure access mechanisms.
  • The banks and allies are pivoting to allow BYOD and require EMM for secure data and regulatory compliance for their financial exchanges. With the proliferation of multiple OS, like macOS, Windows 10, and ruggedized devices, along with the Internet of Things (IoT), the mobile hardware context enlarges, enabling enterprises to focus on EMM.​
  • Further, the banking industry currently lacks a proper system that can manage the overall inventory of devices and track whether the devices are online or offline. Banks primarily need to keep track of all their mobile devices that are being used in the field by the salesforce and primarily ensure that the employees are not misusing them. Any unintended use of the devices, such as watching non-related videos, playing games, or installing any app, can lead to loss of productivity.​
  • Organizations in the market are now adopting these mobility solutions in order to increase the effectiveness in controlling these mobile devices irrespective of the location. For instance, in Feb 2020, Fino Payments Bank selected the Seqrite mSuite in order to increase its workforce mobility. The firm will primarily leverage Seqrite mSuite to empower its mobile workforce in accessing the enterprise data and applications on the go while enabling the IT teams to manage and control the devices securely.​
  • Additionally, the ongoing coronavirus outbreak has caused a worldwide situation unpredictable for most businesses. In the banking industry, the banks are currently in need to immediately enable their employees to operate remotely. The rising need for digital infrastructure to facilitate the continuation of uninterrupted services is expected to create a demand for mobility solutions in the industry.​

Scope of the Report

Enterprise mobility comprises a set of tools and technologies to maintain and manage mobile or handheld devices that are used within an organization among the routine business operations. The solutions exhaustively consider mobile device management, mobile access management, and mobile application management as part of our market analysis. Enterprise mobility has changed the way banks run businesses. Banks work in an aggressive commercial center with extending customer wants, so they have to reorient themselves and make usage of mobility solutions to overcome challenges related to customer satisfaction.

By Type
Device Management​
Access Management​
Application Management​
Other Solutions​
North America
Asia Pacific
Rest of the World

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Key Market Trends

Increase in Cyber Attacks to drive the Market Growth

  • Data breaches lead to an exponential rise in costs and loss of valuable customer information. According to the 2019 Data Breach Investigations Report (DBIR) released by Verizon, 88 % of all cyber incidents in the financial services and insurance sector were done with financial motivation. Cyber attackers in pursuit of the most straightforward path possible to financial gain attack the financial services industry.​
  • Evidently, to secure their IT processes and systems, secure customer critical data, and comply with government regulations, both private and public banking institutes are focused on implementing the latest technology to prevent cyber attacks. Additionally, with higher customer expectations, growing technological capabilities, and regulatory requirements, banking institutions are pushed to adopt a proactive approach to security. ​
  • Further, the growing technological penetration, coupled with the digital channels, such as internet banking, and mobile banking, are becoming the preferred choice of customers for banking services. There is a greater need for banks to leverage advanced authentication and access control processes.​

North America is Witness Significant Growth

  • North America is expected to hold a significant share in the enterprise mobility in the banking market, with the increasing adoption among banks and the presence of major vendors acting as the primary factors driving the growth of the market in the region.​
  • The penetration of smartphones and tablets is increasing in the United States, which is likely to drive the BYOD policy across enterprises. The increasing penetration of devices, coupled with strong network connectivity across the region, is expected to encourage the organizations to adopt BYOD policies.​
  • According to the Identity Theft Resource Center (ITRC), as of July 2019, the business, BFSI, educational, and medical sectors faced more than 105 data breaches exposing more than 104 million sensitive records. These incidents have created a positive demand for enterprise mobility management in the country, especially for mobile security, as they are the most vulnerable endpoints that a hacker can attack to gain entry into an enterprise system. With growing awareness among the end-users, the demand for managed mobility services in the country is expected to increase over the forecast period. ​
  • Moreover, cyberattacks in the North American region, especially in the United States, are rising rapidly. They have reached an all-time high, primarily owing to the rapidly increasing number of mobile devices in the region. For instance, the US government has spent over USD 15 billion on cybersecurity-related activities during the year 2019, resulting in a 4% increase as compared to the year 2018.

Competitive Landscape

The market for enterprise mobility for banking is fragmented, with many existing and new players offering mobility solutions through on-premise or cloud. The majority are focusing on smartphone-related services.

  • February 2019 - Seqrite, launched its Enterprise Mobility Management (EMM) portfolio. As part of the development, Seqrite introduced two cloud-based solutions, MobiSMART, and mSuite, which have been designed to provide comprehensive control over mobile devices accessing their network and data.
  • January 2019: IBM announced that the IBM MaaS360 with Watson had been named by Google as an “Android Enterprise Recommended” solution for company-owned, BYOD, and dedicated devices. The Android Enterprise Recommended is a Google-led program that validates the EMM product offerings that are primarily built to an elevated set of solution standards using the advanced Android Enterprise features that prioritize modern management methods to help business customers utilize the best of Android. ​

Table of Contents


    1. 1.1 Study Assumptions and Market Definition​

    2. 1.2 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.2.1 Bargaining Power of Suppliers

      2. 4.2.2 Bargaining Power of Consumers

      3. 4.2.3 Threat of New Entrants

      4. 4.2.4 Intensity of Competitive Rivalry

      5. 4.2.5 Threat of Substitute Products

    3. 4.3 Market Drivers

      1. 4.3.1 Growth of Mobile Devices as the Preferred Medium of Accessing Internet, Enterprise Data, and Various Other Information

      2. 4.3.2 Rising Trend of BYOD​

    4. 4.4 Market Challenges

      1. 4.4.1 High Cost of Implementation, Coupled with Lack of Acceptability Among Employees​

    5. 4.5 Assessment of COVID-19 Impact on the Industry


    1. 5.1 By Type

      1. 5.1.1 Solutions

        1. Device Management​

        2. Access Management​

        3. Application Management​

        4. Other Solutions​

      2. 5.1.2 Services

    2. 5.2 Geography

      1. 5.2.1 North America

      2. 5.2.2 Europe

      3. 5.2.3 Asia Pacific

      4. 5.2.4 Rest of the World


    1. 6.1 Company Profiles

      1. 6.1.1 BlackBerry Limited​

      2. 6.1.2 VMware Inc.​

      3. 6.1.3 Citrix Systems Inc.​

      4. 6.1.4 IBM Corporation​

      5. 6.1.5 Microsoft Corporation​

      6. 6.1.6 Mobile Iron Inc.​

      7. 6.1.7 Accenture Plc​

      8. 6.1.8 Newgen Software Technologies Limited​

      9. 6.1.9 Infosys Limited​

      10. 6.1.10 HCL Technologies​

    2. *List Not Exhaustive



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Frequently Asked Questions

The Enterprise Mobility in Banking Market market is studied from 2018 - 2026.

The Enterprise Mobility in Banking Market is growing at a CAGR of 24.81% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

BlackBerry Limited​, VMware Inc.​, Citrix Systems Inc.​, IBM Corporation​, Microsoft Corporation​ are the major companies operating in Enterprise Mobility in Banking Market.

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