BYOD Security Market Global Competitive Analysis by Citrix Systems, VMware, Good Technology, International Business Machines, Cisco Systems, Mobileiron, Fortinet, Avaya, Hewlett Packard Enterprise, Symantec

BYOD Security Market Overview:

Global BYOD Security Market is likely to garner a lucrative CAGR of 23% during the assessment period of 2016 to 2023. BYOD refers to ‘bring your own device’ where organizations permit employees to use personally owned devices like laptops, tablets, and smartphones to work. The organization allows employees to use these devices to access privileged company information and application. BYOD is projected to make significant inroads and transforming the business landscape. Many IT departments struggle to update with the new developments in technology, causing employees to prefer working through their own devices. However, the use of BYOD poses serious security threats to the organization such as data breaches, cybercrime, and malware attacks. BYOD security solutions are built to protect the intellectual property of the organization from such security threats.

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The growth of the BYOD security market can be accredited to the increased adoption of BYOD policies in organizations to reduce hardware costs. Organizations witness a rise in employee productivity as the adoption of BYOD enables employees to carry out work-related tasks, irrespective of whether they are present in office premises, further propelling demand for BYOD security. Increasing penetration of smartphones and tablets, and rising adoption of BYOD in multiple industry verticals is projected to prompt significant growth in the BYOD security market. Availability of easily accessible BYOD security tools is predicted to cater potential opportunities to the key players in the BYOD security market. In contrast, a lack of awareness of BYOD security tools is likely to pose as a major hindrance in the growth of the BYOD security market.

BYOD Security Market Key Players:

The BYOD security market boasts a range of noteworthy players from across the globe. Some of these prominent companies profiled by Market Research Future (MRFR) include Citrix Systems, Inc. (U.S.), VMware, Inc. (U.S.), Good Technology Corporation. (U.S.), International Business Machines (IBM) Corporation (U.S.), Cisco Systems (U.S.), Mobileiron Inc. (U.S.), Fortinet Inc. (U.S.), Avaya Inc. (U.S.), Hewlett Packard Enterprise (U.S.), and Symantec Corporation (U.S.).

BYOD Security Industry Update:

March 2019: SyncDog, a Reston-based startup has launched Nist 800171 a mobile-based BYOD security solution that enables companies to enforce multi-factor authentication, a wipe of all CUI and other work or sensitive data without erasing personal data of the employee and guarantees the protection of data with 256-bit encryption in both transit and rest.

BYOD Security Market Segmentation:

The BYOD security market is segmented on the basis of device type, software, security solution, and end user. On the basis of device type, the BYOD security market has been segmented into smartphones, laptops, and tablets. Based on software, the BYOD security market has been segmented into mobile device security, mobile data security, and network security. The BYOD security market has been segmented into mobile application management (MAM), mobile identity management, mobile device management (MDM), and mobile content management (MCM)based on security solutions. The segment of mobile device management (MDM) is expected to dominate the BYOD security market. On the basis of end user, the BYOD security market is segmented into small & medium enterprises and large enterprises.

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BYOD Security Market Detailed Regional Analysis:

The BYOD security market is regionally segmented into the Asia Pacific (APAC), North America, Europe, and the Rest of the World (RoW). North America is estimated to assert dominance over the global BYOD security market owing to high adoption of BYOD by many large enterprises as well as SMEs in the region, leading to a rise in BYOD security concerns.

Asia Pacific is assessed to perceive the fastest market growth for BYOD security due to the adoption of BYOD for retention of employees in the organization. Proliferation in the adoption of smartphones and other smart devices in developing countries such as India and China, along with an increase in the foreign investments in these countries is projected to propel the growth of BYOD security market in the region further.

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