BYOD Security Market to Garner $153.38 Billion by 2027 | Growing CAGR At a 32.1%

28 Sep 2021

Global BYOD Security Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027. Growing use of smartphones and tablets, rising adoption of BYOD policies and increasing BYOD implementation to reduce hardware cost are some of the major factors driving the growth of Global BYOD Security Market.

Global BYOD Security Market is valued at USD 21.85 Billion in 2020 and expected to reach USD 153.38 Billion by 2027 with a CAGR of 32.1% over the forecast period.

Key Players of Global BYOD Security Market Report:

Some major key players for global BYOD security market report cover prominent players like Air Watch, Avaya, Alcatel-Lucent, Aruba Networks, IBM, Blue Box, Citrix Systems, Mobileiron, Kaspersky, Mcafee, Forescout Technologies, Cisco Systems, Hewlett-Packard, VMware, Symantec, iPass Inc., Meru Networks, Web root, Good Technology Inc., and others.

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Scope of Global BYOD Security Market Report:

Bring your own device (BYOD) refers to figuring devices like tablets and smartphones that employees bring to the working environment on the protected corporate organizations. The phenomenon is usually stated as IT consumerization. These cell phones are inclined to infections and other potential risk like cyber assaults. BYOD security arrangements defend such devices from security dangers that can damage the intellectual property of the association. Moreover, these security arrangements help workers to exploit cell phones to effectively play out their tasks at suitable locations. Business endeavors across the world are advancing the utilization of BYOD devices, in this manner permitting their employees to convey these versatile mobile devices for business related tasks at the convenient areas. BYOD concept allows employees to get to information at real time, accordingly helping them in making speedy choices. This requires the arrangement of viable BYOD security solutions for avoid unauthorized admittance to the organization's information and thusly is fueling the development of BYOD security arrangements market.

The use of BYOD security are expanded employee work fulfillment and maintenance through supporting adaptable work plans, expanded employee viability because of more speed and comfort with their own gadgets, rising efficiency and decreased expenses. The term BYOD originally showed up normal use in 2009, with regards to Intel when it recognized an growing tendency among its employees to carry their own devices to work and connect them to the corporate organization.

COVID-19 pandemic has shown a positive impact on the growth of the global BYOD security market. During pandemic, companies enabled bring your own device (BYOD) environments for both employees and partners due to massive change in the employees working culture, majority organizations adopting BYOD trends. Businesses have been forced to adopt a BYOD policy to enable their workforces to operate from home which increased the growth of global BYOD security market. As employees are working remotely and adapting to new IT systems, large scale remote work has caused more relaxed rules regarding certain devices including personal laptops, thumb drives and printers which resulted in increased growth of market of BYOD security.

Global BYOD Security Market Segmentation:

Global BYOD security market is segmented on the basis of device, solution, software, end-user and region & country level. Based upon device, the global BYOD security market is classified into smartphone, tablet and laptop. Based upon solution, the market is classified into mobile application management (MAM), mobile content management (MCM) and mobile identity management (MIM). Based on software, the global BYOD security market is divided into mobile data security, mobile device security and network security. Based upon end-user, the market is classified into large enterprises, small and medium enterprises (SMEs) and government organizations.

By Device:

Smartphone

Tablet

Laptop

By Solution:

Mobile Application Management (MAM)

Mobile Content Management (MCM)

Mobile Identity Management (MIM)

By Software:

Mobile Data Security

Mobile Device Security

Network Security

By End-User:

Large Enterprises

Small and Medium Enterprises (SMEs)

Government Organizations

The regions covered in global BYOD security market report are North America, Europe, Asia-Pacific, Latin America and Rest of the World. On the basis of country level, the market of global BYOD security is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, India, Japan, South East Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.

Growing Use of Smartphones and Tablets, Rising Adoption of BYOD Policies and Increasing BYOD Implementation to Reduce Hardware Cost are Some of the Major Factors Driving the Market Growth

One of the major factors drive the growth of global BYOD security market is growing use of smartphones and tablets. Smartphones can likewise be infected by malware through networks, the Internet, and the utilization of external storage gadgets like media cards and USBs. Accordingly, the growing incidences of cyber attacks have increased concerns and awareness amongst organizations of the different security risks converting into the increased adoption of BYOD security solutions. For instance; in 2021, the quantity of cell phones working globally remained at very nearly 15 million, up from a little more than 14 billion in the earlier year. The number of cell phones is relied upon to arrive at 18.22 billion by 2025, an expansion of 4.2 billion devices contrasted with 2020 levels. In addition, another major factor for the growth of global BYOD security market is raising adoption of BYOD policies. IT methodology moves giving employee with access office/work networks utilizing their own electronic gadgets. With automated business change, interest for BYOD has raised quickly in recent years. For instance, according to the Cisco, 69% of IT leaders favor BYOD as a positive expansion to any work environment strategy since it saves laborers time.

Furthermore, increasing BYOD implementation to reduce hardware cost also fosters the global BYOD security market growth. Number of organizations can adopt the work from home or remote working which reduces the hardware cost. The decrease in hardware cost for the ventures is boosting the BYOD implementation across different enterprises. This is improving the BYOD reception rate which at last drives the BYOD security market. However, low awareness about BYOD security tools may hamper the global BYOD security market growth. In spite of that, availability of easy and common accessible BYOD tools can provide various opportunities for the further growth of the global BYOD security market.

North America is Anticipated to Dominate the Global BYOD Security Market

North America is expected to dominate the global BYOD security market within the forecast period due to the growing smartphone sales, rising threats of cyber crime and cyber attacks, emergence of advanced security based technologies and presence of key players in this region. Asia Pacific is anticipated to grow at a faster rate in the global BYOD security market due to the rising foreign investment, increasing use of smartphones and growing advancement in technology in this region. For example; in September 2020, Ivanti, a significant IT software company, inked an obtaining agreement worth $872 million with MobileIron, a main supplier of BYOD security to improve its versatile just as endpoint security abilities.

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