BYOD and enterprise mobility market to hit $73 bn in 2021

plan-enterprise-mobilityBYOD and enterprise mobility market is projected to grow from $35.10 billion in 2016 to $73.30 billion by 2021, latest report from research firm MarketsandMarkets showed.

There are many factors boosting the BYOD and enterprise mobility. Most importantly, enterprises realized that this change in the work culture increases productivity and employee satisfaction. Further, BYOD helped enterprises to reduce hardware cost for enterprises.

Other reasons leading to the market growth are the increase in smartphone penetration, demand for enterprise mobility software in large enterprises with in-house IT departments and growing prominence of managed mobility services.

While we have talked about growth factors, there is another side of the coin, the constraints. According to Transparency Market Research, initial investment to deploy these solutions is a significant factor restraining the growth of the market making them unaffordable for start-up companies.

The lack of awareness among the end-users and the technical complexity involved in resolving the issues pertaining to theft of BYOD device is a critical factor affecting the adoption of BYOD security solutions, the research firm says.
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Due to these factors, certain mid-size enterprises are reluctant to implement the use of BYOD devices and their security solutions, adversely affecting the growth of this market.

The major vendors in the BYOD and enterprise mobility market are Microsoft, Cisco, IBM, SAP SE, Infosys, Oracle, TCS, BlackBerry, Tech Mahindra, HCL, and AT&T.

According to an IDC chart, Microsoft holds 7.6 percent market share in the enterprise mobility management software market in 2015, followed by IBM with 6.5 percentage share. VMware holds major share of 16.6 percent and BlackBerry have 14.4 percent. SAP held 6.4 percent share.

BYOD and enterprise mobility associated market

Mobile device management has allowed organizations to deploy, monitor, integrate, and manage mobile devices in the workplace.

But, over the years, we have seen an escalation in cyber security issues. Like any other technology meant for enterprises, BYOD and Enterprise Mobility also raises security concerns.

MarketsandMarkets says security concerns in BYOD and Enterprise Mobility Market drives the mobility security market as well.

An earlier research from MarketsandMarkets forecasts the global mobile security market to grow from $1,507.7 million in 2014 to $5,754.8 million by 2019, at a CAGR of 30.7%.

Among enterprise mobility security market, identity access management market is expected to grow at the highest rate, followed by mobile content security market, the research firm predicts.

Identity access management provides authorized individuals to access to resources and manages and monitors user activities to protect company information.

Technology research firm Technavio predicts that the global identity and access management market to grow at a CAGR of around 13 percent between 2016 and 2020.

According to the research firm, mobile device management software will play a key role in the BYOD and Enterprise Mobility Market by 2021.

During the forecast period, the mobile device management software has the largest market share in the BYOD and Enterprise Mobility Market software market.

The rapid increase in the use of mobile devices for personal as well as professional work is the main factor pushing up the market share.

The huge acceptance of BYOD and enterprise mobility services by the enterprises in the North America makes the region a favourable place for BYOD and Enterprise Mobility. North America is expected to hold the largest market share during the forecast period.

MarketsandMarkets says that the increasing innovative developments in technologies are benefiting all the stakeholders present in the BYOD and enterprise mobility market ecosystem in this region.

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Arya MM
editor@infotechlead.com