BYOD Security Market, By Device Type (Smartphone, Tablet), By Software (Mobile Data Security, Mobile Device Security), By Security Solutions (Mobile Content Management, Mobile Identity Management), By End User (Large Enterprise, Small & Medium Enterprises) - Forecast 2027
Market Overview
The global BYOD (bring your own device) security market is expected to exhibit a strong 37% CAGR between 2020 and 2027, rising to a valuation of USD 69 Billion by 2027, according to the latest research report from Market Research Future (MRFR).
BYOD has become a key trend in the modern workplace due to the rapid development of communications technology allowing workers to do their tasks in a remote location and hand in the work to their superiors through connectivity tools such as email or Dropbox. However, the growing demand for bring your own device policies has also raised the specter of BYOD security. While the benefits of BYOD policies for organizations are clear to see, many organizations lack the insight necessary to identify the security risks posed by the use of remote working policies. As any new user is connected to the common company network from his or her own device, they become a security liability, as their own device may contain links to other, harmful sites and expose the company software architecture to large-scale security breaches.
This is likely to be the major driver for the global BYOD security market over the forecast period, as companies are likely to seek effective measures for protection of their proprietary data from online attackers.
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Competitive Analysis:
Leading players in the global BYOD security market include Symantec Corporation, Hewlett Packard Enterprise, Cisco Systems, Avaya Inc., Fortinet Inc., Good Technology Corporation, Mobileiron Inc., VMware Inc., IBM, and Citrix Systems Inc.
A new research from Bitglass revealed in May 2019 that while 74% of the survey’s respondents said their company allows employees to work from personal devices, about 47% said their company didn’t have a clear BYOD security policy or didn’t have a BYOD security policy at all. This demonstrates the need for greater awareness about the perils of BYOD overuse, as companies stand to lose significant money and data due to breaches in BYOD security. Increasing efforts from key developers of BYOD security systems to educate enterprises about the risk of BYOD policies could prove crucial for the sustained growth of the global BYOD security market over the forecast period.
Segmentation:
The global BYOD security market is segmented on the basis of device type, software, security solution, end user, and region.
By device type, the global BYOD security market is segmented into smartphones, tablets, and laptops. Smartphones and tablets are likely to be increasingly important for the global BYOD security market over the forecast period due to their growing use by employees working remotely.
By software, the global BYOD security market is segmented into mobile data security, mobile device security, and network security.
By security solution, the global BYOD security market is segmented into mobile device management, mobile application management, mobile content management, and mobile identity management.
By end user, the global BYOD security market is segmented into large enterprises and small & midsized enterprises.
Regional Analysis:
North America is likely to be the dominant regional market for BYOD security over the forecast period due to the growing demand for BYOD policies in the region. Employers in the region are increasingly adopting BYOD policies in order to save expenses on workplace equipment and maintenance. The increasing development of advanced telecommunications systems in North America is also likely to be a key driver for the BYOD security market in the region, as this facilitates easy adoption of BYOD policies. Several leading internet security market players are also situated in North America, leading to smooth growth of the BYOD security market in North America over the forecast period.
Europe is also likely to retain a dominant share in the global BYOD security market over the forecast period due to the growing demand for BYOD working policies in the region.
The growing corporate sector in Asia Pacific and the increasing availability of advanced telecommunications solutions to operate BYOD operations smoothly are likely to drive the Asia Pacific market for BYOD security solutions over the forecast period. Asia Pacific is likely to exhibit the fastest growth in the global BYOD security market over the forecast period.
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As per Market Research Future (MRFR) the global Bring Your Own Device (BYOD) market is expected to grow at USD 96 Billion by 2023, at 16% of CAGR between 2017 and 2023.As per the global bring your own device market research report, the global market for bring your own device is anticipated to grow rapidly.
As per analysts, the introduction of efficient security models along with the effective adoption of BYOD trend will drive the market growth throughout the forecast period.The bring your own device market research report provides an in-depth analysis of the industry and its deployment, device, vertical, and component segments.
The risk of data breach as well as underdeveloped infrastructure is the factors which could affect the global bring your own device market growth during the forecast period 2017-2023.
Additionally, the market on the basis of device, is segmented into smartphone, tablet, and laptop.
The segmental analysis of deployment, device, vertical, and component segments as well as regional market analysis has been presented in the global bring your own device market research report.
The global bring your own device market research report further explores other regional markets from the rest of the world including bring your own device markets of the Middle East and Africa.Also Get More Info@ Bring Your Own Device (BYOD) Market 2021 Highlights Recent Trends, Market Growth, Opportunities till 2026; Cisco Systems, AirWatch, AT, etc.Competitive LandscapeThe rising adoption of the BYOD trend and various benefits are expected to accelerate the global bring your own device market growth worldwide.
Industry insightThe global BYOD security market 2020 is estimated with a valuation of USD 69 Billion by the year 2027, according to the report found by Market Research Future.
The report also states that the market is set to grow at a rate of ~37% during the assessment period.Top Impacting FactorsBYOD is known by “Bring Your Own Device.” In current times, employees are accepting personal mobile gadgets such as smartphones, tablets, PCs at the workplace to complete work through efficiently.
In the existing working environment, every company wants its employees to be more productive as well as healthier networks with the safety of corporate data.
All these factors have made the market of BYOD security more valuable than previous years that could make growth possibilities higher in the forecast period.
The implementation of BYOD security systems aided in preserving an organization's intellectual property by avoiding cyber attacks.
All these factors have profoundly contributed to the growth of the global BYOD security market.
Not many of us notice but there has been a subtle change in recent years regarding how people use their mobile devices.
And it’s not just about emails and Skype calls but more and more people find themselves creating or reviewing official documents on their personal computers- something unheard of just a few years ago.
Transforming ideas into innovation yearns for a well-analyzed excellently-developed and impressively-executed strategy.
Every domain in mobile app development is increasing tremendously be it the web or enterprise mobile app development.
The credit, of course, goes to mobile app developers for developing business-specific enterprise mobile apps for companies.
Appdexa takes a look into the growing stats of enterprise mobile apps and presents you the stats in the infographic represented below.
Enterprise apps carry the luxury of being the problem-solving tool for a number of mobile app development firms.
The module such apps offer to the businesses makes it easy for them to manage the business operations easily.
It goes without saying that digital transformation starts with mobility.
Enterprise Mobility refers to the initiatives organizations are taking to improve operations, service delivery and customer relations via mobile-centric solutions, as well as mobile products being released for customers.
This definition involves operational/employee-focused enterprise mobile apps; customer-facing mobile apps; DevOps; and other digital transformation initiatives focusing on trends, challenges, solutions and recommendations, and more.
The market size for the enterprise mobility and BYOD (Bring Your Own Device) will hit a figure of $73.30 billion by 2021.
According to a Gartner report, on an average, an enterprise launches eight apps, of which 6.2 are planned for next year and the rest are in the development phase.
As reported by insight.com, 75% of businesses have implemented a BYOD policy, and in the coming years, many more will implement one to offer the best services to their clients.
