Global demand for BYOD Security market was valued at approximately USD 12.40 Billion in 2019, and is expected to generate revenue of around USD 80.58 Billion by end of 2026, growing at a CAGR of around 30.7% between 2020 and 2026
BYOD Security Market
According to the report, global demand for BYOD security market was valued at approximately USD 12.40 Billion in 2019, and is expected to generate revenue of around USD 80.58 Billion by end of 2026, growing at a CAGR of around 30.7% between 2020 and 2026.
BYOD i.e. bring your own device, is also referred as bring your own technology (BYOT), and bring your own phone (BYOP). It is a practice in which employee of the organization allowed to bring personally owned devices (tablets and smart phones) to their workplace and permitted to use these devices to access privileged company information and applications. Many IT departments struggling to keep updated with yearly changing technology hence increasing number of employees are seeking to use personal devices to access corporate data. BYOD security protects such devices from security threats that can harm the intellectual property of the organization.
The growth of global BYOD security market has been attributed to increased adoption of BYOD policies which helps to reduce hardware cost for the organizations. Employees expect to carry-out work-related tasks such as accessing and sending emails while they are out of office premises. This ensures employee productivity independent of their location. Popularity of BYOD in varied industry verticals, increased penetration of smartphones and tablets are the major driving factors of BYOD security market. On a contrary, low awareness about BYOD security tools is expected to pose challenge to the market growth. Nonetheless, availability of common & easy accessible BYOD security tool is likely to offer new opportunities to the participants of BYOD security market within the forecast period.
The report covers forecast and analysis for the BYOD security market on a global and regional level. The study provides historic data of 2015 along with a forecast from 2016 to 2021 based on revenue (USD Million). To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model for the BYOD security market has also been included in the study. The report also analyzes several driving and restraining factors and their impact on the market during the forecast period. The study encompasses a market attractiveness analysis, wherein segments are benchmarked based on their market size, growth rate and general attractiveness.
The report provides detailed segmentation of BYOD security market based on device, and security software. The device segment includes laptop, smartphone and tablets. In term of security software, the market is bifurcated as mobile data security solutions, mobile data management solutions, mobile network security solutions and others.
Major regional segments analyzed in this study include North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. In terms of revenue, North America held the largest market share in 2015. However, Asia Pacific is expected to be the fastest growing region due to the proliferation of smartphones and increasing foreign investment in India, China and Singapore.
Key players profiled in the report include Fortinet Inc., Citrix Systems, VMware Inc., Good Technology Corporation, MobileIron, and International Business Machines (IBM) Corporation amongst others.
This report segments of the global BYOD security market as follows:
BYOD Security Market: Device Segment Analysis
BYOD Security Market: Security Software Segment Analysis
BYOD Security Market: Regional Segment Analysis