The bring your own device trend, also commonly known as BYOD, has gained quick mileage over time. The trend allows and requires the employees to bring their own systems in the office to work. It offers benefits to both employers and employees. A comprehensive outlook offered by Market Research Future MRFR asserts that the global brings your own device market is expected to register 16% CAGR during the evaluation period 2017 to 2023. The valuation of the BYOD market has been assessed to reach USD 96 Bn mark by 2023.
BYOD policy has been proven to enhance the productivity of the employees as they are more accustomed to working on their systems. It is expected to increase the revenue growth for the organizations, thus, supporting expansion of the bring your own device market on the global front. In addition, the culture of bringing own devices also brings down the cost of the organization of maintaining or purchasing a large number of systems. This, in turn, is anticipated to drive the proliferation of the bring your own device market in the foreseeable future.
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The rising utilization of cloud-based services is anticipated to impact the bring your own device market positively in the coming years. Also, the availability of effective security management software for facilitating the secure use of employees’ devices is further projected to catalyze the expansion of the market in the upcoming years. However, the concerns regarding privacy of the employees remain an impediment to growth of the market.
On the basis of the component, the bring your own device market has been segmented into solution, security and service. The solution segment covers the following sub-segments mobile device management, mobile data management, mobile email management, mobile application management, mobile telecom expense management, and others. The sub-segments of the security segment are device security, application security, email security, mobile content security, identity access management, network security, and multi-user management. The bifurcation of the service segment covers managed services and professional services.
On the basis of the device, the bring your own device market has been segmented into smartphones, tablets and laptops.
On the basis of the deployment, the bring your own device market has been segmented into cloud and on premise.
On the basis of the vertical, Bring Your Own Device Market Trends has been segmented into BFSI, healthcare, retail, transportation, manufacturing, IT & telecommunication, and others.
The regional assessment of the global bring your own device market is covered for four regional segments. These regional segments are – North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW). These regions are further analyzed on the basis of country-level markets for a lucid and comprehensive assessment. The largest share of the market is held by North America owing to the rising adoption of the trend there. It is equipped with advanced technological infrastructure to support the growth of the bring your own device market in the region. Also, the rising demand for cloud technology in the region is expected to drive the growth of the market over the assessment period. Meanwhile, Asia Pacific is recorded to witness the highest growth rate across the evaluation period.
Microsoft Corporation (U.S.), Blackberry Limited (Canada), Cisco Systems, Inc. (U.S.), Infosys Limited (India), IBM Corporation (U.S.), SAP SE (Germany), Tech Mahindra Limited (India), Tata Consultancy Services Limited (India), AT&T (U.S.), Capgemini (France), Oracle Corporation (U.S.), Honeywell International (U.S.), Accenture (Ireland), MobileIron Inc. (U.S.), Apperian (U.S.), Hewlett-Packard (U.S.), AirWatch (U.S.), Alcatel-Lucent S.A. (France), AT&T (U.S.), Duo Security (U.S.) and HCL (India) are few of the key participants of the bring your own device market.
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