Channel partners should keep an eye on the Bring Your Own Device (BYOD) trend considering the latest growth figures. According to a new report from MarketsandMarkets, the BYOD along with enterprise mobility market is forecasted to grow globally from US$35 billion this year to more than US$73 billion by 2021.
The India-based research firm found that BYOD is growing worldwide at a compound annual growth rate of close to 16 per cent.
Some of the reasons for momentum in the market is that BYOD continues to increase productivity and employee satisfaction, while reducing hardware cost for enterprises and even SMBs or SMEs. MarketsandMarkets also found that increased smartphone penetration and a new demand for enterprise mobility software in large enterprises with in-house IT departments is another factor. There is also some evidence that managed mobility services inside these organizations have led to staff becoming a driving force for BYOD.
MarketsandMarkets added that the mobile device management software has the largest market share in the BYOD and enterprise mobility software market during the forecast period. Its market share is expected to grow because of the rapid increase in the use of mobile devices for personal as well as professional work. Mobile device management has allowed organizations to deploy, monitor, integrate, and manage mobile devices in the workplace.
There are still security concerns with BYOD and enterprise mobility. Among enterprise mobility security market, identity access management market is expected to grow at the highest rate, followed by mobile content security market. Identity access management provides authorized individuals to access to resources and manages and monitors user activities to protect company information.
Canada and the United States are expected to contribute the largest market share for BYOD and enterprise mobility. This is because of the huge acceptance of BYOD and enterprise mobility services by the enterprises. The increasing innovative developments in technologies are benefiting all the stakeholders present in the BYOD and enterprise mobility market ecosystem in this region.