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Bring Your Own Device (BYOD) Market in united states to grow at 15% CAGR till 2022

Author : Ronak Bora | Published Date : 2019-04-05 

Global Market Insights, Inc. presents an extensive report on bring your own device (BYOD) market that offers qualitative information about prevailing trends and a detailed analysis of the growth trajectory of this industry. It also includes a study of the historical data and detailed statistics that will help determine the future scope of the industry in terms of commercialization opportunities.

U.S. Bring Your Own Device (BYOD) Market is expected to continue its dominance with the largest market share in the projected time frame. Asia Pacific bring your own device market share is likely to witness substantial growth, at a growing CAGR of 20% during the expected period owing to lower hardware expenses, and surging smartphone penetration.

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The trending demand for enterprise mobility to efficiently perform business tasks, is expected to be the driving force behind bring your own device (BYOD) market rapid expansion. Increase in employee productivity, reduced hardware cost, and strong claim for mobility software in large scale enterprises are some of the pushing factors influencing the market globally. Many companies have already embraced this program to increase their organization productivity. Furthermore, the noticeable trend observed among employees to prefer their own device for professional as well as personal usage is likely to uplift the industry trends in the coming years.

Use of Internet of Things (IoT) enables users to connect and monitor multiple devices simultaneously. The companies have growth opportunities by integrating this technology for smooth and secure business operations. Companies mandating the security software installation in employee device helps in safeguarding the proprietary data. On the basis of device, smartphones dominated the bring your own device (BYOD) market share owing to considerable number of employees opting for smartphones to carry out business operations. The demand for tables employing this business model is estimated to cross USD 130 billion by 2022.

Bring Your Own Device (BYOD) Market growth will be driven by increasing use of, tablets, and laptops during the forecast period. Furthermore, the  proliferation of smartphones and 4G LTE is expected to fuel the market growth. A smartphone is expected to be the most preferred device, as it simplifies handling of both personal life and office work. The tablet segment is forecast to witness substantial growth over 130 billion in a predicted time frame.

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Employees connected to the company’s network through communication device and internet connection brings in the factor of security. Potential security breaches or data loss poses a veritable threat to adoption. Loss of critical business information owing to theft of device is restricting the adoption of the BYOD facility. Securing crucial data and confidentiality of client information are the major challenges faced by the bring your own device (BYOD) market these are managed through enterprise mobility management initiatives.

Increasing employee preference towards using a single device for professional as well as personal use may positively impact the bring your own device (BYOD) market demand over the several coming years. In addition, use of single device helps in avoiding hassles such as theft, loss, and inconvenience caused by carrying separate devices. In addition, as employees use their personal devices, they feel more comfortable while working this in turn might improve job satisfaction level. It also aids in increasing productivity at work.

Factors such as economical handset prices, low calling rates, in addition with development and implementation of new technologies and high investment by mobile operators in building infrastructure is anticipated to boost bring your own device (BYOD) market. Surging use of smartphones and high speed internet services such as 4G LTE is expected to positively impact the industry over the forecast period. Employees are inclined toward using a single device for both professional and personal applications in order to dodge the cyber hassles, thefts and other inconveniences. Addressing the security concerns is one of the vital factors influencing the enterprises to implement bring your own device model. Key participants in bring your own device market include Good Technology, IBM Corporation, Alcatel-Lucent, Cisco, and MobileIron.

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About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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