According to the latest report by IMARC Group, titled “BYOD Security Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global BYOD security market size reached a value of US$ 48.76 Billion in 2021. BYOD security refers to the additional layer of protection, such as a password, pin, or another authentication factor, that secures sensitive enterprise data. It is generally shared via the personal devices of employees to access their organizational networks. Depending on the activity, personal devices could include smartphones, personal computers, tablets, or USB drives that access corporate emails, connect to company networks, and access corporate apps and data. Its usage reduces costs associated with hardware, software licensing, and device management. There has been an increasing demand for BYOD security worldwide due to the growing incidences of cyber-attacks and data breaches involving private companies and government agencies.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global BYOD Security Market Trends:
The global market is majorly driven by escalating security concerns regarding sensitive enterprise data and employee-owned devices. This can be attributed to the rising number of security threats and data breaches across the corporate sector. Additionally, the rising usage of smartphones and tablets that are susceptible to malware infections through external storage devices, such as USBs and other media cards, is propelling the market. The growing number of work-from-home (WFH) employees using their own devices in numerous organizations is also acting as a significant growth-inducing factor for the market. The market is further fueled by continual technological advancements, along with the augmenting adoption of the internet of things (IoT) and artificial intelligence (AI). Some of the other factors providing an impetus to the market include considerable growth in the information technology (IT) sector, rapid digitization, increasing penetration of high-speed 5G internet connection, an increase in the tech-savvy population, and extensive research and development (R&D) activities conducted by key players. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 113.37 Billion by 2027, exhibiting a CAGR of 14.50% during 2022-2027.
- Based on the device type, the market has been segmented into laptop, smartphone and tablet.
- On the basis of the solution, the market has been divided into mobile device management, mobile application management, mobile content management, and mobile identity management.
- Based on the deployment type, the market has been categorized into on-premises and cloud-based.
- On the basis of the end user, the market has been classified into large enterprises, small and medium-sized enterprises, and government organizations.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Alcatel-Lucent Enterprise (Nokia Oyj), Aruba Networks (Hewlett Packard Enterprise Development LP), Avaya Inc., BlackBerry Limited, Broadcom Inc., Cisco Systems Inc., Citrix Systems Inc., Forescout Technologies Inc., International Business Machines Corporation, iPass Inc. (Pareteum Corporation), Ivanti, and VMware Inc.
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