Bring Your Own Device Market Growth By Major Companies: Alcatel-Lucent Enterprise, Aruba, a Hewlett Packard Enterprise company, Avaya, Cisco, Duo Security, HP, IBM, Meru Networks, MobileIron, Oracle, ThreatMetrix, Verizon, Vox Mobile, WatchDox (acquired b

As per a new research report by Global Market Insights, Inc., Bring Your Own Device (BYOD) Market is set to reach USD 350 billion by 2022. Growth is attributed to the employee convenience and increasing demand for smartphones, tablets, and laptops. Employees preferring single device for professional commitments and personal use fuels the adoption of BYOD policy.

Increasing employee preference towards using a single device for professional as well as personal use may positively impact the industry demand over the several coming years. In addition, use of single device helps in avoiding hassles such as theft, loss, and inconvenience caused by carrying separate devices. In addition, as employees use their personal devices, they feel more comfortable while working; this in turn might improve job satisfaction level. It also aids in increasing productivity at work.

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The software companies developing applications for supporting smartphones are focused towards increasing the convenience of using a single device for professional and personal use. Growing adoption of 4G LTE led to increased internet speeds, and increasing the overall accessibility and availability. Favorable policy framework by employers, including SMBs and enterprises alike helps the companies in reducing the operating and capital expenditure. This also results in companies saving on purchasing cost of these devices which increases net profits of the company.

Factors such as economical handset prices, low calling rates, in addition with development and implementation of new technologies and high investment by mobile operators in building infrastructure is anticipated to boost BYOD market size. Surging use of smartphones and high speed internet services such as 4G LTE is expected to positively impact the industry over the forecast period.

Employees connected to the company’s network through communication device and internet connection brings in the factor of security. Potential security breaches or data loss poses a veritable threat to adoption. Loss of critical business information owing to theft of device is restricting the adoption of the BYOD facility. Securing crucial data and confidentiality of client information are the major challenges faced by the BYOD market these are managed through enterprise mobility management initiatives.

Mobile application and content management are also offered by MDM vendors, in order to ensure secure mobile applications and content delivery. Tablets are predicted to experience the highest growth rate owing to increasing adoption.

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Use of Internet of Things (IoT) enables users to connect and monitor multiple devices simultaneously. The companies have growth opportunities by integrating this technology for smooth and secure business operations. Companies mandating the security software installation in employee device helps in safeguarding the proprietary data.

North America dominated the BYOD market acquiring more than 30% share owing to high demand from the consumers. Early adoption of the enterprise mobility model by the companies in this region are among the chief drivers of this trend.

Asia Pacific BYOD market is estimated to exhibit a CAGR of over 20%, largely due to the proliferation of smartphones and related devices, as well as changing company policies.

Key industry participants accumulating major BYOD market share include Alcatel-Lucent,Apperian, AirWatch, Aruba Networks, AT&T Mobility, Avaya Inc, Bluebox, Cisco Systems Inc., Duo Security, Enterprise Mobility Solutions LLC, Fixmo, Good Technology, Inc., Hewlett-Packard, IBM Corporation, iPass Inc., Meru Networks, MobileIron, Mobiquity, Motorola Mobility Holding, Notify Technology Corporation, Oracle, ThreatMetrix, Verivo Software, Verizon Communication Inc., Vox Mobile, and WatchDox.

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About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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