BYOD Security Market is expected to garner $24.6 billion by 2020, registering a CAGR of 36.3% during the forecast period 2014-2020.
Portland, OR -- (SBWIRE) -- 06/26/2017 -- BYOD Security Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $24.6 billion by 2022, registering a CAGR of 36.3% during the period 2014-2020. Smartphones are widely used for business purposes among all other devices, and generated nearly 58% of revenue for the global market in 2013. Mobile application management (MAM) solutions would be witnessing tremendous growth opportunities in future due to the rising awareness about these security solutions across various regions.
Large enterprises generated significant revenue for the global market in 2013, whereas small- and medium-scale enterprises (SMEs) contributed around one-fourth of the total revenue. SMEs would eventually increase their revenue share in global market. North American countries generated a considerable amount of revenue in 2013 due to early adoption of BYOD concept and implementation of BYOD security policies.
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The introduction of BYOD security software reduces the security risks associated with BYOD, due to which the adoption of BYOD policies by the companies in emerging markets is increasing. BYOD concept is gaining foothold due to its benefits for the enterprises such as lowering down infrastructure cost, increased the productivity of the organizations and allowing employees to work according to their convenient time and place. The increasing importance of BYOD concept would ultimately support BYOD security market to rise in emerging markets by 2020.
The smartphone is a key device that is majorly being used by the employees for work purposes. The ease of accessibility of corporate or business data by smartphones is driving the smartphone usage. However, security risks are also high with the usage of smartphones as in case of loss or theft of such devices. Compact size and light weight of tablet phones is leading the employees to replace their laptops with tablet phones for business purposes. The usage of tablets would eventually increase, which would ultimately increase the revenue generated through the tablet security software in years ahead.
Though mobile device management (MDM) solution is popular among all other solutions across the enterprises for the implementation of BYOD security policies, mobile application management (MAM), mobile content management (MCM) and mobile identity management (MIM) would also increase their penetration into the market in coming years. The increasing awareness about the BYOD security solutions and introduction of wide range of apps for business purposes (appification) would support MAM to gain its prominence in the market. In order to secure corporate as well as personal data on the device, mobile data security software is largely preferred by the enterprises, which is followed by mobile device security.
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The initial investment to implement BYOD security policies is high, due to which majorly large-scale enterprises have implemented BYOD security policies in their organizations. Therefore, the revenue from the sales of BYOD security software to large-scale enterprises is prominent as compared to small- and medium-enterprises. However, small- and medium-scale enterprises (SMEs) have started adopting BYOD concept in their organizations, which would eventually create a need of BYOD security software among SMEs. Considering above factors, the revenue generated from the end users would eventually increase and contribute a significant amount of revenue for the global market by 2020.
Introduction of BYOD security software reduces the security risks associated with BYOD, due to which the adoption of BYOD policies by the companies in emerging markets is increasing. BYOD concept is gaining foothold due to its benefits for the enterprises such as lowering down infrastructure cost, increased productivity of the organizations and allowing employees to work according to their convenient time and place. The increasing importance of BYOD concept would ultimately support BYOD security market to rise in emerging markets by 2020.
Key findings of BYOD Security Market:
The global BYOD security market would grow due to increase in the adoption BYOD across companies in emerging markets and appification of businesses during the forecast period (2014-2020)
Tablet security software would witness an increasing growth with a CAGR of 46.2% during 2014-2020
Mobile application management segment would grow at a rapid rate as compared to other solutions, which includes mobile device management, mobile content management and mobile identity management
North American region generates highest revenue for the global market
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The market growth is attributable to acquisitions and collaborations of the players in the market to excel their services to the customers. For instance, on 26 January, 2014, VMware acquired AirWatch, a leader in delivering secure and enterprise-mobile management solutions, for$1.175 billion. This acquisition has helped VMware to boost mobile security offerings to the customers. Similarly, in August 2014, SAP in collaboration with VMware has developed a mobile security software platform for mobile applications, which offers simplified user experience for all mobile applications. Prominent players profiled in the report are SAP, Symantec, VMware, Citrix Systems, Mobile Iron, Good Technology, Trend Micro, IBM, Alcatel-Lucent and Cisco Systems.
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