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BYOD Market is driven by growing adoption of 4G LTE led to increased internet speeds

Author : Ronak Bora | Published Date : 2019-04-09 

BYOD Market growth will be impelled by increasing use of, tablets, and laptops is anticipated to have a positive impact on the market. 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.

The software companies developing applications for supporting smartphones are focused towards increasing the convenience of using a single device for professional and personal use. BYOD market is driven by growing adoption of 4G LTE led to increased internet speeds, and increasing the overall accessibility and availability. Favorable policy framework by employers, including SMBs and enterprises alike helps the companies in reducing the operating and capital expenditure. This also results in companies saving on purchasing cost of these devices which increases net profits of the company.

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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 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.

Healthcare, financial services and insurance industry segments in BYOD market are predicted to be most key verticals. Moreover, both mid-to-large sized and small scale businesses have started adopting the system and are predicted to further the growth.

The report discusses the in-depth analysis of the BYOD market at the regional level, including India, Korea, Indonesia, Taiwan, Japan, Australia, China, Singapore, New Zealand, Malaysia, Philippines, and U.S.

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North America dominated the BYOD market acquiring more than 30% share owing to high demand from the consumers. Early adoption of the enterprise mobility model by the companies in this region are among the chief drivers of this trend. Asia Pacific BYOD industry is estimated to exhibit a CAGR of over 20%, largely due to the proliferation of smartphones and related devices, as well as changing company policies.

The report covers competitive analysis of the market discussing the profiles, key market strategies of major market players accumulating major market share in the BYOD market are Alcatel-Lucent, Cisco Systems, MobileIron, Good Technology,and IBM Corporation.

Increased productivity owing to growing use of personal devices is expected to trigger the market growth. Possible security threats, including device theft, challenges in tracking data and risk exposure, etc. need to be addressed to support the employees.

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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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