Bring Your Own Device Market
Bring Your Own Device (BYOD) Market - By Component, By Device, By End-use, By Vertical & Global Region - Market Size, Trends, Opportunity, Forecast 2021-2026Request Sample Request Discount
Bring your own device is a policy that permits individuals to bring their own devices to the office or to a learning event and use them for educational or work-related purposes. Employees are allowed to use their personal devices to access company resources and applications in businesses. It is an IT trend and a broader movement that impacts the way enterprises invest in assets, empower employees and attract talent. Various MNCs use this service since it allows them to give a flexible workplace with the highest level of employee satisfaction. However, there are some security issues with this strategy, for which businesses are working to develop better software solutions. With the introduction of new IT solutions, the demand for BYOD has grown in a variety of businesses.
The global bring your own device market is expected to grow at a CAGR of around 15% over the period of next 5 years.
Globally, the number of small and medium-sized businesses is increasing. In recent years, both developed and developing economies are embracing the startup culture. As a result, there is a greater need to adopt a BYOD culture in order to save money on infrastructure in the early stages of a company's development. It also contributes to significant cost savings by lowering the cost of acquiring and maintaining workplace gadgets. They also concentrate on technology or solutions that promote a seamless workflow and high file fidelity. BlackBerry and Microsoft, struck a collaboration agreement in March 2018 to empower the mobile workforce with mobile identity management, mobile device management, and mobile content management. BYOD is gaining traction among businesses as a way to improve interactions between business partners and customers while meeting corporate objectives. The expansion of the BYOD market is expected to be accelerated by the transformation of workplaces as a result of the influx of connected devices.
According to a Bitglass study, roughly 85 percent of enterprises have already enabled bring your own device (BYOD) settings for both employees and partners as a result of the COVID-19 epidemic. The pandemic has also sparked a significant shift in employee work culture, with the majority of firms embracing BYOD practices.
Additionally, in order to maintain strong customer management, retailers are increasing their attention on consumerization. Customers are currently utilizing social, mobile, and cloud technologies. As a result, merchants are focusing on data collection in order to improve customer happiness. Organizations are using the BYOD policy as part of this to increase employee connection with consumers and coworkers. Customers will have a more engaged in-store experience as a result of this policy. On the other hand, it lowers the cost of device acquisition and improves visibility into in-store performance. BYOD enabled staff to have more resources at their fingertips, resulting in increased productivity and customer satisfaction.
Furthermore, technological and infrastructure advancements might aid industry expansion. Mobile service infrastructure is substantially subsidized by mobile operators. For instance, Citrix Systems Inc., a software company based in the United States, helps to simplify BYOD with its simple and safe approach. It is built on technologies such as remote support, workplace mobility management, file sharing, and desktop virtualization, to name a few. In addition to, Citrix helps businesses to safeguard and regulate their data against theft and loss. It satisfies the requirements for privacy compliance and risk management at the same time. Thereby, certain factors are expected to propel the market demand.
BRING YOUR OWN DEVICE MARKET SEGMENTATION:
By End Use:
- Large Enterprises
- Small Enterprises
- Energy and Utility
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Owing of growing technological developments, the North American region dominates the market. Furthermore, changes in business work culture, such as organizations providing free and flexible workspace to their employees, as well as enterprise adoption of cloud technology and services, are all contributing to the region's market growth. The growing use of SMACT technologies in a variety of industries, including manufacturing, retail, BFSI, healthcare, government, and others, is expected to boost BYOD adoption in North America in the coming years. Furthermore, for BYOD employees, the smartphone is the most desired device. According to the Consumer Technology Association, smartphone sales in the United States will reach USD 80 billion in 2019, up from USD 69 billion in 2017.
Due to rising smartphone demand and benefits such as low cost, high productivity, and higher customer satisfaction, Asia-Pacific is expected to see considerable market share rise. The market is expected to strengthen as the IT sector in the region grows, bringing with it more technically skilled people. Additionally, businesses are attempting to provide a better work environment for employee retention, such as flexible work hours, work-from-home options, and other initiatives that are expected to have an impact on the market.
FEW KEY PLAYERS IN BRING YOUR OWN DEVICE MARKET:
- Cisco Systems
- IBM Corporation
- The Citrix Systems Inc.
- Good Technology Inc.
- MobileIron Inc.
- SAP SE
- Microsoft Corporation
- Oracle Corporation
- Internal Systems Ltd
- ForeScout Technologies
- Trend Micro
- Verivo Software
- In October 05, 2020, Crestron has released the Crestron ONE app, which includes mobile room control and allows users to control their systems from any personal device. Crestron ONE enables touchless room management by enabling room automation, employee wayfinding, and content sharing from iOS and Android mobile devices.
- In January, 2020, ATEN ANZ had released the VP2120 Seamless Presentation Switch with Quad View Multi-streaming, which integrates a video matrix switch, audio mixer, quad-view multi-streaming, and idea-sharing platform into one compact device. The ATEN Presentation Switch VP2120, in conjunction with the Video Presentation Control App, enabled wireless BYOD collaboration at any time when a fast catch-up, quick meeting, rapid brainstorm, stand-up, or ad hoc call is required.
- In 2019, AppGuard, a cybersecurity software company had launched an enterprise BYOD app TRUSTICA Mobile facial, iris, and fingerprint biometrics for user authentication and encryption keys that change for each interaction.
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