The global BYOD market is expected to reach USD 238.39 billion by 2020, according to a new study by Grand View Research, Inc. Growing proliferation of smartphones and tablets coupled with the preference to use a single device is expected to fuel market growth over the next six years. Grand View Research also observes that reduction in OpEx and CapEx is expected to drive BYOD adoption across enterprises.
Concerns
regarding theft of the mobile device and safety of classified data are key
challenges for enterprises implementing BYOD. Solutions such as mobile device
management (MDM) and mobile application and content management have been
employed by organizations in order to maintain security and management of data.
Techniques including infrastructure provisioning, virtualization and
containerization are used to ensure management.
For more info visit here: https://www.grandviewresearch.com/industry-analysis/bring-your-own-device-market
Further key findings from the study suggest:
- Smartphones
were the most widely used BYOD devices and accounted for the largest
market share in 2013. Although laptops are also used to a large extent,
they are expected to exhibit slower growth as compared to tablets, which
serve the dual purpose of higher processing power and increased
portability.
- Mid-to-large
sized businesses accounted for over 75% of the overall market in 2013.
BYOD can also help small businesses drive profitability as well as improve
job satisfaction. Reduced hardware/device costs along with the use of
cloud-based solutions are expected to favorably impact BYOD
implementation. In terms of industry vertical, financial/insurance and
healthcare have been among active adopters.
- North America
led the market and accounted for 34.7% of the global market share in 2013;
and is further expected to remain the largest regional segment over the
next six years. BYOD adoption is expected to remain high in emerging
markets. This can be attributed to relatively lower provision rate of
corporate mobile devices in these regions coupled with high degree of comfort
and flexibility of individuals in working during traditional downtime.
BYOD demand in Asia Pacific is expected to grow at the fastest rate of
20.6% from 2014 to 2020.
- Key industry
participants include Cisco Systems, MobileIron, IBM Corporation, and Good
Technology Inc. among numerous others. In order to ensure successful
implementation, it is essential to enforce BYOD policies and avoid data
security risk.
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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