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 Bring Your Own Device 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 Bring Your Own Device Market – Geographical Analysis
The North American region dominates Bring Your Own Device (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 Bring Your Own Device Market – Competitive Analysis
The highly competitive global bring your own device 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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