Global Bring Your Own Device Market Projected to Reach Over USD 435 Billion By the End Of 2025
- by KD Market Insights
- Sep, 2021
The global bring your own device market was capitalized around USD 190 Billion in 2019 and is estimated to reach around USD 435 Billion by the end of 2025, developing at a compound annual growth rate (CAGR) of over 15% during the forecast period 2019–2025. Bringing your own device refers to the use of employee-owned device to access enterprise content or networks. This provides workers with a variety of gadgets from which to choose. It only allows access to non-sensitive frameworks and data. Bring your own device policies have a number of benefits, including the ability to save money by avoiding the need to acquire new gadgets for each representative. It also contributes to increased profitability by providing representatives with the satisfaction of working with their devices, which fosters a sense of community. It will also feature cutting-edge technology that will be implemented as customers continue to update their devices.
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Some of the key players in the market include Cisco Systems, MobileIron, IBM Corporation, The Citrix Systems Inc., Good Technology Inc., MobileIron Inc., SAP SE, HP, Miradore, Microsoft Corporation, Oracle Corporation, Internal Systems Ltd, Apple, BlueBox, ForeScout Technologies, Sophos, Symantec, Trend Micro, and Verivo Software amongst others.
Increased efficiency and work life balance of personnel boost the bring your own device market
Employees have been shown to prefer using only one device for both business and personal purposes. This eliminates the inconvenient caused by using different devices and decreases the risk of theft. Additionally, there is no need to move between personal and business devices. A company's hardware and device costs are reduced as a result of this trend. Employees are more familiar with devices because they are their own. This promotes employee satisfaction while also increasing their productivity at work.
The Asia Pacific Region Expected to Witness fastest Growth in the Bring Your Own Device Market
Increase in tech-savvy population and rising mobile device consumption among prospective buyers, the Asia-Pacific BYOD industry is developing. The market is expected to strengthen as the IT sector in the region grows, bringing with it more technically skilled people. Organizations are embracing BYOD trends in order to retain employees by offering benefits like as flexible scheduling, internet access, and mobile technology for personal and professional use. This has also aided in the mobilisation of organisational data, resulting in improved organisational efficiency and production.
“Bring Your Own Device Market - By Component (Solution, Security, Service), By Device (Smartphones, Tablets, Laptops), By End-Use (Large Enterprises, Small Enterprises), By Vertical (BFSI, Retail, Healthcare, Government, Automotive, Energy and Utility, Others) and By Region - Global Comprehensive Analysis, Forecast (2019-2025), Industry Perspective.
The global bring your own device market is segmented as follows:
By End Use:
- Large Enterprises
- Small Enterprises
- Energy and Utility
- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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