Bring Your Own Device Industry Research Report - Analysis and Forecast to 2024

Posted by Marsh William on February 27th, 2018

The Global Bring Your Own Device (BYOD) Market is projected to exceed 350 billion by 2022 from USD 94.15 billion in 2014. Widespread adoption of devices, like tablets, smartphones, and laptops can positively affect the market over the forecast period (2016 - 2024). BYOD enables employees bring their own devices to work. This not only reduces hardware & device costs but also boosts employee productivity & satisfaction.

4G LTE services offered by telecom companies can drive the BYOD market in both developing & developed economies. High demand for mobile phones owing to their low prices and low voice calling tariffs may boost the Asia Pacific market till 2024.

BYOD increases the possibility of security risks, such as device thefts, tracking data, and hacking. Oftentimes, when employees using their own personal devices at work, leave an organization, take with themselves crucial organizational data & information. Moreover, device seizure & data loss and governance & compliance issues can restrain market demand.

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The BYOD market is fragmented into software, end-uses, devices, and regions. Software is divided into Enterprise Mobile Email Management (EMEM), Mobile Application Management (MAM), Mobile Devices Management (MDM), Enterprise Mobile Content Management (EMCM), and Telecom Expense Management (TEM). Improvements in IT technology can further increase the adoption of BYOD, thus propelling market growth.

Based on end-use, the industry is segmented into mid-to-large sized businesses and small businesses. A number of companies are taking to the ‘BYOD’ concept to minimize both operating expenditure (OpEx) and capital expenditure (CapEx). Employees too, share the costs incurred on their devices. This in turn, lowers the costs borne by the company.