Bring your own device (BYOD) is the policy which allows an individual to bring their personal devices to workplace or at the event of learning, and use these devices for work related to education or the job. In enterprises, employees are allowed to access the company’s resources and applications on their personal devices. These devices include smartphones, tablets and laptops and may or may not be supported by organization’s IT department.
There are various MNCs that are providing this facility as it enables to provide a flexible workplace with maximum employee satisfaction level. However, there are certain security problems attached to this policy for which the enterprises are trying to provide better software solutions. With emergence of new IT solutions there has been an increased demand for BYOD in various industries.
The global bring your own device market is anticipated to record a CAGR of around 16% over the forecast period 2019-2027 owing to rise in awareness about the benefits about this system. The system results in overall productivity of the firm by reducing capital and operational expenditure and improving employee efficiency. Furthermore, BYOD helps in increasing communication flow with the help of applications such as dashboards, workflow management applications and profitability dashboards among others, between employees inside an organization, as well as in-between the employee and customer.
The market is segmented by device type into tablet, laptop and smartphones, out of which, the smartphones segment is anticipated to hold largest market share on the back of rising sales of smartphones around the globe, coupled with the ease of portability, varied functional power in the hand, and also for providing balance work and personal life to the employees. Furthermore, with the availability of varied number of apps meant for official purposes and the added security features to these apps, helps the enterprises to maintain confidentiality of data, and also helps in larger employee engagement rate and increased concentration in work places, which are also adding to the growth of the segment. CLICK TO DOWNLOAD FREE SAMPLE REPORT
Implementation of BYOD helps employees increase their work flexibility and balance between work life and personal life, owing to which employee are able to save time and thereby concentrate in work, which is increasing their work efficiency. Owing to such factors, employers are shifting their focus towards BYOD implementation.
With the use of BYOD, enterprises are able to save on their capital expenditure and operational expenditure. Startup companies are much benefitted to the implementation of BYOD owing to reduced costs.
The developers of applications that support smartphones are trying to make it convenient for the employees to use same device for personal and work use for instance Microsoft has partnered with BlackBerry to make Microsoft mobile apps available on BlackBerry smart devices such that it is possible for the employees to access files anytime, anywhere. The improved internet services and speed has resulted in improved file accessibility which is anticipated to improve the market growth.
The lack of security and privacy of the data of the organization is anticipated to be the restraining factor. Since personal devices are connected to office networks and databases, there might be the probability for confidential data hack or leakage, which might affect the profitability of the organization. All of these factors Are anticipated to act as key restraints to the growth of the bring your own device (BYOD) market.
Our-in depth analysis of the bring your own device market includes the following segments:
On the basis of regional analysis, the bring your own device (BYOD) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
North America region is anticipated to hold leading shares in the market on the back of rise in technological developments and enterprise mobility in the region. Furthermore, advancements in the work culture of enterprises, where employers intend to provide free and flexible workplace to its employees, and the adoption of cloud technology and services by enterprises is also contributing to the growth of the market in the region.
Asia-Pacific is anticipated to witness significant growth in market share owing to increased smartphone demand coupled with benefits for instance low cost, high productivity and better customer satisfaction. The increase in IT sector in the region with technically skilled individuals is anticipated to improve the market. Additionally, enterprises are trying to provide better work environment for employee retention for instance flexible work hours, work-from-home facilities and others, which are anticipated to impact the market.
The Bring Your Own Devices market is further classified on the basis of region as follows:
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