Global BYOD & Enterprise Mobility Market Projected to Reach USD 360.07 Billion by 2020, at a CAGR of 27.6%
According to a new Market Research Report - Bring Your Own Device (BYOD) & Enterprise Mobility Market: By Solution (MDM, MAM, TEM, EMCM), By Device (Smartphone, Tablet, Laptop), By Security (Mobile Data Security, Mobile Device Security, Network Security), By Vertical, By Region - Analysis & Forecasts till 2020, the global BYOD & enterprise mobility market is estimated to grow from USD 106.45 billion in 2015 to USD 360.07 billion by 2020, at a CAGR of 27.6% from 2015 to 2020.
BYOD is a policy that allows employees to use their personal devices for official purposes, and is essentially applicable to smartphones, laptops, and tablet devices. In recent years, there has been a significant growth in adoption of smart devices such as mobile phones and tablets. Organizations are adopting BYOD & enterprise mobility for various reasons, such as to increase productivity, reduce IT expenses, and provide employees access to real-time information. The BYOD trend holds huge potential to transform businesses and encourages innovative ways of interacting with customers and business partners. The main advantage of BYOD is responding to employee expectations by fulfilling business requirements for security, compliance, and risk mitigation.
AirWatch, MobileIron, Microsoft Corporation, IBM, Cisco Systems, Hewlett-Packard, Avaya, and Good Technology are some of the major companies that provide technologies and solutions that are suitable for various types of deployments of BYOD & enterprise mobility solutions. Other companies such as Samsung, Globo plc, Apple Inc., and Dell are also aggressively marketing their products to sustain their position in the global BYOD & enterprise mobility market.
The BYOD & enterprise mobility market report has been broadly segmented on the basis of solution, device, security, and region. It provides an in-depth analysis of emerging technologies, solutions, and security across small and large-scale enterprises across various industry verticals. Some of the important industry verticals include manufacturing, healthcare, logistics and transportation, retail, BFSI, IT and telecom, and public sector, among others. The increased productivity and employee satisfaction is further driving the growth of the global BYOD & enterprise mobility market. Reducing hardware costs have also enabled these solutions to be adopted by many organizations.
Information security has increased the challenges with regard to providing suitable BYOD & enterprise mobility solutions. Devices owned by employees are considered more prone to theft and loss because of their size and portability. Thus having to track lost personal devices and wipe the sensitive corporate data stored on them is considered the biggest challenge for organizations.