Bring Your Own Device (BYOD) & Enterprise Mobility Market Worth $266.17 Billion by 2019
According to a new market research report, “Bring Your Own Device (BYOD) & Enterprise Mobility Market [Mobile Device Management, Mobile Application Management, Telecom Expense Management, Content Management and Email Management] – Global Advancements, Market Forecast and Analysis (2014 – 2019)“, published by MarketsandMarkets, Bring Your Own Device (BYOD) & enterprise Mobility Market to grow from $71.93 Billion in 2013 to $266.17 Billion in 2019 at a CAGR of 25.2% during the forecast period.
The market report defines and segments the global BYOD Market into various sub-segments with an in-depth analysis and forecasting of market sizes. The report also identifies the factors driving this market, various restraints and opportunities impacting it along with the adoption trends.
There has been a significant growth in the BYOD Market and this is expected to continue in the coming years. Enterprises have become more open to adopting BYOD policies due to the increase in mobile application users in the workforce. Even though organizations are rapidly adopting this technology, the primary challenge is to build networks that are more secure and accessible.
The major industry verticals are well-placed in terms of the adoption of latest technologies and issues related to the usage. Present day BYOD vendors provide interactive software solutions and security technologies that can be implemented successfully through smart devices such as smartphones and tablets for effective task management and information delivery.
Today, due to the consumerization of IT, most enterprises feel the need to embrace mobility. IT infrastructure plays a vital part in the implementation of personal devices within the workspace. Enterprises need to adhere to the policies and guidelines related to BYOD so as to adapt the network security accordingly.
The driving factors for the BYOD Market are cloud infrastructure adoption, reduced hardware cost for enterprises, and emergence of mobile business user workforce. North America (NA) is expected to have the largest market share in the overall BYOD Market followed by Europe (EU) and Asia Pacific (APAC) in 2014. The same trend is expected to continue in 2019.
However, there are a few restraints in the BYOD Market such as government and compliance issues, security risks, and device seizure and data loss faced by organizations implementing this technological revolution. MarketsandMarkets expects the total bring your own device (BYOD) & enterprise mobility market to grow from $71.93 Billion in 2013 to $266.17 Billion in 2019 at a CAGR of 25.2% during the forecast period.
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