BYOD Security Market Innovative Strategies for Harnessing Future Market Size Growth | VMware, Citrix systems

The market for BYOD has significantly evolved in regions such as North America and Europe. Rise in the productivity of the organizations lead to the BYOD adoption across varied industry verticals. This ultimately helps the market to grow at a rapid pace. As BYOD concept is gaining popularity across various regions, implementation of BYOD security solutions has become highly important. These BYOD security solutions allow remote management of mobile devices used for business purposes viz., smartphones, tablets and laptops. To protect the important corporate data over the mobile devices, BYOD security policies plays an important role and supports the use of employee's own devices at their work places.

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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.

Increasing adoption of BYOD concept across emerging markets is one of the key driver for BYOD security market. Increased productivity, reduction in the hardware cost and popularity of BYOD across various industry verticals are some additional drivers for the BYOD security market. On the other hand, low awareness about the BYOD security tools limits the growth of market.

The vendors presently are manufacturing mobile devices that are integrated with security solutions. These in-built security policies allow employees to access both their personal and corporate data from a single device and from various access points. Additionally, the vendors in the market are acquiring and collaborating with the top companies in the market to enhance their product portfolio. For instance, on 26 January, 2014, VMware acquired AirWatch, which is a leader in delivering secure and enterprise-mobile management solutions, for $1.175 billion. This acquisition has helped VMware to boost mobile security offerings to the customers. Similarly, In August, 2014, SAP in collaboration with VMware has developed a mobile security software platform for mobile applications, which offers simplified user experience for all mobile applications.

The global BYOD security market is segmented based on the type of device used for business purposes, BYOD solutions for the implementation of BYOD in enterprises, security software, end users and geography. The employees at their workplaces usually prefer Smartphones, tablets and laptop, where smartphones holds large percentage of market size, amongst others. Solution segment is further classified as mobile device management, mobile application management, mobile content management and mobile identity management.

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The segment of security software is classified as mobile data security, mobile device security and network security. The end users for the BYOD security market are large enterprises, small and medium enterprises (SME's) and government organizations. The microscopic analysis of the market has been performed by examining various regions such as North America, Europe, Asia-Pacific and LAMEA.

Key highlights of the report include

Market Size and Growth Analysis:

Detailed examination of the market size and growth trajectory during the forecast period.
In-depth insights into the factors driving market expansion and the challenges restraining growth.
Accurate revenue projections and trends shaping the market landscape.

Strategic Analysis:

Identification of key drivers influencing market growth and strategic recommendations to leverage emerging opportunities.
Exploration of market trends and future prospects to aid in informed decision-making.
Strategies for market players to capitalize on growth areas and navigate challenges effectively.

Competitive Landscape Evaluation:

Comprehensive profiles of industry leaders, offering a thorough understanding of their market presence and influence.
Analysis of market share held by key companies and their impact on the overall market dynamics.
Assessment of the product portfolios of major players, highlighting key offerings and innovations.

Recent Developments and Innovations:

Coverage of the latest advancements and innovations within the industry.
Insightful examination of recent developments by key market players, including product launches, partnerships, and acquisitions.
Evaluation of the impact of these developments on the overall market landscape.

Competitive Strategies:

Examination of the competitive strategies employed by leading companies to gain a competitive edge.
Analysis of successful tactics utilized in the market, providing valuable insights for other players.
Benchmarking of competitive strategies to help businesses formulate effective plans for sustainable growth

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Key Benefits

The analysis of the global market provides an overview of the global BYOD security market with special reference to market trends, market structure, limiting factors and opportunities
The global market has been analyzed in a comprehensive manner to help the stakeholders identify the key market opportunities
Quantitative analysis of the current market and estimations through 2013-2020 would determine the financial caliber of the market
Porter's five forces model has been used to analyze the potential of buyers and suppliers, and the competitive structure of the market, to guide the market players in developing effective strategies
Value chain analysis provides a systematic study on the key intermediaries involved, which would in turn help the stakeholders to make appropriate strategies

Key Players

SAP
Symantec
VMware
Citrix systems
MobileIron
Good Technology
Trend Micro
IBM
Alcatel Lucent
Cisco Systems

KEY MARKET SEGMENTS
Market by Device Type

Smartphone
Tablet
Laptop

Market by Solution

Mobile Device Management (MDM)
Mobile Application Management (MAM)
Mobile Content Management (MCM)
Mobile Identity Management (MIM)

Market by Security Software

Mobile data security
Mobile device security
Network security

Market by End User

Large enterprises
Small and medium Enterprises (SMEs)
Government organizations

Market by Geography

North America
Europe
Asia-Pacific
LAMEA

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