(PRWEB) May 23, 2014 -- Bring Your Own Device (BYOD) is an IT policy of permitting employees to bring personally-owned mobile devices (laptops, tablets, and smart phones) to their workplace, and to use those devices to access privileged company information and applications. BYOD is making significant inroads in the business world, with about 75% of employees in high growth markets such as Brazil and Russia, and 44% in developed markets already using their own technology at work. BYOD helps in increasing the employee’s productivity, increases employee morale and convenience by using their own devices, and makes the company look like a flexible and attractive employer.
The North American BYOD market is expected to grow to $83.76 billion by 2019. The demand for BYOD is anticipated to increase in future because of the increasing demand of CRM in various organizations in North America. More than half the North American organizations are developing BYOD programs in response to their workforce demand. A successful program can increase the overall revenue by boosting IT and helpdesk productivity, improving efficiencies, and reducing expenses.
The European BYOD market is expected to grow from $19.25 billion in 2013 to $69.84 billion in 2018, at a CAGR of 24.7% during the forecast period. Employees in European countries positively embraced the possibility of having constant access to work data, and want to carry only a single device and use it for both work and personal purposes. Such attitudes demonstrate comfort with the blurring boundaries between work and personal life, and perhaps more of a willingness to do whatever it takes, and work whatever hours required, to get ahead in their careers. Also, the increase in the adoption of mobility solutions is the major factor which is increasing the demand of the BYOD market in the European region.
The Asia-Pacific Bring Your Own Device (BYOD) market is expected to reach $62.50 billion by 2019.A major trend that is influencing the growth of the BYOD market in the APAC region is the high population comprising young people, and a diverse workforce comprising self-governing professionals, remote workers, and contracting associates. There are other new trends that create prospects for organizations to offer interactive devices and solutions which are promoting the BYOD culture highly in the APAC region.
The Latin American BYOD market is expected to grow by $3.72 billion to $14.52 billion,at a CAGR of 26.3% by 2019. With an increase in the amount of mobile devices to connect to corporate information, the demand for mobile management solutions has also increased in the Latin American region. An increase in IT spending, inclination towards cloud-based MDM, and technological developments are the major factors that ensure that the demand for the Bring Your Own Device (BYOD) market is not going to stop anytime soon in the LA region.
The MEA BYOD market has been showing a massive growth pattern, and is expected to grow further in the coming years. The total revenue of the BYOD market in the year 2014 was valued at $12.97 billion, and is expected to hit $35.55 billion by the end of 2019. Organizations have an emerging mobile workforce that demands constant connectivity to organizational content. To ensure security compliance, organizations are extensively adapting to BYOD policies. Due to the recent advancement in mobile device technologies, there has been a steady growth in the adoption of mobile devices that access organizational data. The MEA BYOD market is expected to grow at a CAGR of 22.3%, which can be considered very favorable.
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Mr. Chandrasekhar K.
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Mr. Chandrasekhar K., Micro Market Monitor, http://www.micromarketmonitor.com/, +91 9881155004, [email protected]