Growing penetration of mobile devices expected to drive the market over the forecast period
San Francisco, California (PRWEB) April 08, 2014
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.
The report “Bring Your Own Device (BYOD) Market Analysis And Segment Forecasts To 2020,” is available now to Grand View Research customers at http://www.grandviewresearch.com/industry-analysis/bring-your-own-device-market.
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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.
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For the purpose of this study, Grand View Research has segmented the global BYOD market on the basis of device, end-use and region:
- BYOD Device Outlook (Revenue, USD Billion, 2012 - 2020)
- BYOD End-Use Outlook (Revenue, USD Billion, 2012 - 2020)
• Mid-to-Large Sized Businesses
• Small Businesses
- BYOD Regional Outlook (Revenue, USD Billion, 2012 - 2020)
• North America
• Asia Pacific
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