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Bring your own device (BYOD) refers to the technology that can safely integrate personal devices of employees with the company’s network. The uptake of BYOD approaches in the organization is allowing the employees to bring their personal (own) devices such as tablets, laptops, and smartphones to their workplace and use them to access the privileged company information help in increasing productivity at work.
In addition, the use of a single device helps in avoiding hassles such as theft, loss, and inconvenience caused by carrying separate devices. Also, as employees use their own devices, they feel more comfortable while working; this, in turn, might improve job satisfaction level.
As a result, BYOD is trending in various small and large enterprises across the globe. Increasing employee preferences towards using a single device for professional, as well as personal use, is impacting the market growth positively, creating a massive demand for the BYOD security solutions.
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Assessing the kind of traction, the market is garnering currently Market Research Future (MRFR), in its recently published study report asserts that the global BYOD Market will reach USD 96 BN by 2023 registering a CAGR of over 16% throughout the forecast period (2017-2023).
Additional factors boosting the market growth include Increased productivity and reduced hardware costs. Furthermore, factors such as the growing prominence of managed mobility services act as a major tailwind pushing up the market growth. Also, the augmenting demand for enterprise mobility is fuelling the growth of the BYOD market.
On the other hand, cyber-attack concerns are expected to restrict market growth over the next couple of years. However, the rapid advents of technologies that are increasingly providing solutions for the attacks are estimated to support the market growth over the assessment period.
Cybercrimes and cyber-attacks that have increased significantly due to malware such as trojans, viruses, and adware. This malware allows hackers to gain access to confidential data stored on mobile devices which triggers a loss of financial and personal data, misconduct, and exploitation.
Also, mobile devices can also get hacked through the Internet, networks, alongside external storage devices such as USBs and media cards. Therefore, the increasing concerns of cyber-attacks and the awareness among organizations of the various security risks are translating into the augmented adoption of BYOD security solutions.
Global BYOD Market – Segments
MRFR has segmented the report into six key dynamics for an easy grasp;
By Component: Solutions, Security, and Services.
By Device: Smartphone, Tablets, and Laptops among others.
By Industry: IT, Manufacturing, Telecommunication, Entertainment, and Healthcare among others.
By Deployment: On-Cloud and On-Premise.
By Vertical: BFSI, Healthcare, Manufacturing, Transportation
By Regions: Asia Pacific, North America, Europe, and Rest-of-the-World.
Global BYOD Market – Geographical Analysis
The North American region dominates the global BYOD market with the largest market share. The spurting markets in the U.S and Canada heading with the presence of a large number of established key players are anticipated to drive the growth of the regional market.
Being the largest well-developed region, North America has an edge over another region in terms of every aspect. The region has a well-established infrastructure that seamlessly allows high integration of advanced technologies providing reliable connectivity. Moreover, the augmenting demand for enterprise mobility and huge acceptance of BYOD approach into small and medium organizations.
The European region stands the second-largest market for BYOD in terms of revenue generation which holds a considerable market share. Factors fostering the market growth include the advancements of technology and the proliferation of smart connected devices which are led by the resurging economy in the region.
The Asia Pacific region has emerged as a promising market for BYOD, growing rapidly with a significant rate of CAGR. Factors such as the vast technological advancements, high employment ration, and the considerable market penetration of consumer electronics products like smartphones and tablets are driving the market in the region.
Global BYOD Market – Competitive Analysis
The highly competitive global BYOD Market appears to be fragmented characterized by the well-established players with their strong presence in the international market alongside the small-scale players and new entrants form a competitive landscape in the market.
Key players operating in the market are investing substantially in transforming the consumer and business landscape in the future. Matured players incorporate strategic initiatives such as collaboration, partnership, acquisition, product & technology launch, and expansion to gain a competitive edge staying ahead in this market.
Key players leading the global BYOD market include The prominent players in the market of BYOD are Cisco Systems, Inc. (U.S.), Microsoft Corporation (U.S.), Blackberry Limited (Canada), IBM Corporation (U.S.), Infosys Limited (India), Tata Consultancy Services Limited (India), Tech Mahindra Limited (India), SAP SE (Germany), AT&T (U.S.), Capgemini (France), Honeywell International (U.S.), Oracle Corporation (U.S.), Alcatel-Lucent S.A. (France), Accenture (Ireland), MobileIron Inc. (U.S.), Hewlett-Packard (U.S.), Apperian (U.S.), AirWatch (U.S.), AT&T (U.S.), HCL (India), and Duo Security (U.S.) among others.
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