Bring Your Own Device (BYOD) Market concept refers to the connection of personal devices such as smartphones, tablets and PCs to an enterprise’s network, which benefits to several financial, operational and organizational activities. Well deployed BYOD benefits in job satisfaction are leading towards overall business benefits. Access to enterprise solutions by employees from distance or home is expected to increase the productivity of an organization. This advantage is anticipated as a key factor to augment the market growth. Furthermore, capital expenditure is going to decrease due to elimination of device purchasing. Operational expenditure can be reduced by providing tech support and self service solutions for resolving issues. These advantages are anticipated as the prominent drivers for the growth of the market in coming years
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Reduced hardware cost for enterprises, increasing smartphone diffusion, constant usage popularity among industry verticals, regions and enterprises and emergence of mobile business user workforce are expected to drive the market growth over the forecast period. However, security issues, governance & compliance issues and device seizure & data loss are expected to hamper the market growth. Personalized mobile environment and cloud technology offer key opportunities to players to augment the market growth in coming years.
Devices used in BYOD concept include smartphones, laptops and PCs. The market is expected to grow owing to increasing awareness of mobile devices technology. Most of the users use their own smartphones as the preferred device due to the ability to couple work and personal lives effectively. Provision of funds for BYOD, technical support & services and security issue solutions by organizations is expected to enhance the concept of BYOD leading towards the growth of the market in coming years.
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Mobile Device Management (MDM), Telecom Expense Management (TEM), Mobile Application Management (MAM), Enterprise Mobile Content Management (EMCM) and Enterprise Mobile Email Management (EMEM) are some of the examples of IT applications in BYOD technology. Enhancing IT technology and its applications through these systems are expected to increase the usage of BYOD which is going to expel the growth of the market in coming years.
BYOD market is going to impact mid-to-large sized businesses and small businesses. Mid-to-large size businesses are expected to witness the largest market share growth due to decreased need in hardware installation cost as well as its operating cost. Financial service sector and healthcare sector are going to augment the market growth with strong policies in place over the forecast period. Rise in usage of mobile devices in BFSI institutions is going to impact the market positively owing to remotely accessible account information and collaboration with co-workers and customers. Other key sectors are expected to witness the growth include logistics and transportation, IT & telecom, public sector, retail and manufacturing. Logistics and transportation sector is expected to be growing sector due to availability of GPS and online applications in mobile devices. IT & telecom are expected to witness the fastest growth in coming years. Increasing internet & online applications as well as GPS system are the key driving factors, expected to lead towards the growth of BYOD market in end use industries.
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North America has accounted for the largest BYOD market share and is expected to remain the largest BYOD market in coming years. Initially U.S. companies only had supported the BYOD system. However, adoption has been increasing in emerging region market as well. Fast adoption rate is expected to emerge the BYOD market globally. In Asia pacific region, China is going to witness the fastest growth owing to increasing demand as well as production of mobile devices in region. Europe including France is going to witness slower adoption rate of BYOD over the forecast period, with higher inclination towards protecting privacy rights combined with monitoring of personal communications.
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