Bring Your Own Device Market is expected to grow at a significant rate throughout the estimated time period from 2020 to 2027.
Bring your own device (BYOD) is also termed as bring your own technology (BYOT), bring your own phone (BYOP), and bring your own personal computer (BYOPC). Basically, it’s the trend of being allowed by the employer to use one's personally owned device instead of using officially provided devices. These devices are used to connect to the organizational networks and access work-related systems and potentially sensitive or confidential data. It provides lots of benefits to the employer such as money savings by eliminating the investment on devices for employees, increased productivity by providing satisfaction to the employees of using their own devices, up-to-date technology as the users keep on updating their own devices. The advanced concept works on cloud applications in the workplace that the individual devices can store videos, photos, inventory, mobile schedules, and more along with easy data accessibility.
The benefits associated with the bring your own device (BYOD) concept to the employer is the major factor supporting the market growth. The increasing usage of smartphones along with the advanced data packs such as 4G LTE is supporting the market growth. The increasing disposable income coupled with the advent of advanced technologies in the workplace is further bolstering the market growth. Additionally, the feeling of familiarity associated with the own devices can increase the productivity of the employees at the workplace is further expected to create potential growth throughout the forecast period from 2020 to 2027. The increasing working population across the industry sectors is further projected to provide potential growth throughout the estimated timeframe.
On the other side, devices used by employees are vulnerable to theft, loss, or damage as well as employees often work at outside Wi-Fi locations that are not secure and are easy to get hacked by the hackers are some of the factors projected to restrict the growth during the forecast period.
Smartphones segment accounted for the maximum revenue share in the market
In 2019, based on devices, smartphone segment is leading the global Bring your own device market. The increasing usage and demand for Smartphones in every economy are supporting market growth. The decreasing cost or affordability of data packs (2G, 3G, 4G) in the emerging economies is further bolstering the demand for smartphones in the market.
North America accounted for the maximum share in the global market
In 2019, North America has registered maximum double-digit revenue share (%) in the bring your own device market. The region encompasses developed economies like US and Canada which has contributed to the maximum share of the region. The highly developed infrastructure of employers in respective economies is supporting the regional market value. Furthermore, Asia Pacific is projected to exhibit the fastest growth with major CAGR (%) throughout the forecast period along with its emerging economies. The developing industrial sector along with the increasing number of the working population of the region is supporting the regional market growth. Moreover, increasing disposable income and rising demand for devices like mobiles, laptops, and tablets are further bolstering the market values.
The players profiled in the report include AT&T Intellectual Property, Blackberry Limited, Cisco Systems, Inc., Honeywell International Inc., IBM Corporation, Infosys Limited, Microsoft, SAP SE, Tata Consultancy Services Limited, and Tech Mahindra Limited. The major players are involved in mergers & acquisition, partnership and collaborations and new product development for expanding the market share.
Market By Device
Market By End-Use
Mid-To-Large Sized Businesses
Market By Industry Vertical
IT & Telecom
Energy & Utilities
Market By Geography
Middle East & Africa