The BYOD Market registered a CAGR of 15% over the forecast period 2021 - 202.6 High-speed like 4G and 5G services offered by telecom companies drive the BYOD market in both developing and developed economies. The increase in demand for smartphones has also supported the growth of the bring-your-own-device (BYOD) culture.
- Further, the increasing number of small and medium-sized enterprises, as a result of the growing startup culture across developed and developing economies alike, has led to companies willing to adopt the BYOD culture to eliminate or restrict the initial infrastructure expenses, which limit their early growth.
- In addition, organizations require employees to interact with customers and co-workers. The rise in the productivity of the organizations has led to the increased adoption of BYOD across varied industry verticals.
- BYOD has gained immense popularity due to its ability to extend confidence and trust in the employee, leading to a highly dedicated workforce. Notably, many people and organizations face restrictions regarding geographical borders and long-distance collaborations within the team, and BYOD conveniently manages to connect them and allows access to the required information. This is opening new avenues for the industry players, thus positively impacting the market growth over the forecast period.
- To support a smooth workflow, in March 2018, BlackBerry and Microsoft partnered to empower the mobile workforce. By making Microsoft's mobile apps seamlessly available from within BlackBerry Dynamics, enterprise users have a consistent experience when opening, editing, and saving a Microsoft Office 365 file such as Excel, PowerPoint, and Word on any iOS or Android device. This enabled users to work anytime, anyplace, with rich file fidelity.
- Additionally, according to a study by ITU, there are approximately 4,131 million internet users in 2019, as compared to 2,478 million in 2012. also, China had the maximum number of internet users (854 million), as of December 2019, followed by India (560 million). Developed countries like the United States has approximately 313.32 million internet users in the same period.
- However, the integration of such concepts attracts large amounts of cyber threats and puts corporate data at risk of a data breach. This is expected to hamper the overall market growth over the forecast period.
- Due to COVID-19 pandemic, according to a study by Bitglass, approximately 85% of organizations already enable bring your own device (BYOD) environments for both employees and partners. The pandemic has further triggered a massive transformation in the employees' working culture, with a majority portion of the organizations adopting BYOD trends.
Key Market Trends
Retail Industry is Expected to have Significant Growth in the Market
- Consumerization of retail, where customers have increased access to information via., technologies, such as cloud, mobile, and social, is creating a new opportunity for retailers. To boost customer engagement, retailers are more focused on data collection to help improve customer satisfaction.
- Organizations require employees to interact with customers and co-workers. BYOD helps retailers to take advantage by providing a more engaging in-store experience to the customers and, in turn, reducing device procurement costs and gaining visibility into in-store performance. BYOD helps the workers access resources at their fingertips, increasing productivity and driving employee and customer satisfaction.
- According to the Financial Impact of BYOD study, employees tackle work tasks the moment they receive them, accomplish them more quickly and gain some extra minutes, 37 minutes per week to be exact. The US BYOD users ranked highest on that scale, with an average 81 minutes saved per week. For retailers, with a large number of associates, the regained minutes can quickly add up, translating into improved customer service that results in increased sales.
- With the increase in the number of connected wearable devices, the workers can keep themselves updated in real time, which helps them take decisions quicker and serve customers as soon as they get the query.
North America to Witness the Highest Growth Rate
- North America is expected to hold a prominent share in the BYOD market. Moreover, the region has a strong foothold of BYOD vendors. Some of them include Cisco Systems Inc., IBM Corporation, Oracle Corporation, and BlackBerry Limited, among others, which contributes to the growth of the market.
- The vendors operating in the region are collaborating for improving digital transformation solutions. For instance, in June 2018, BlackBerry Limited and Samsung collaborated on enhanced digital transformation solutions. One of the outputs of this partnership is that joint enterprise customers using cutting-edge Samsung devices, such as mobile phones, tablets, wearables, and the Samsung DeX mobile desktop experience, gained the 'out-of-the-box' ability to manage all those devices on a single pane of glass via the BlackBerry Universal Endpoint Management (UEM) platform.
- The increasing adoption of social media, mobile technology, advanced analytics, cloud and Internet of Things (IoT) (SMACT technologies) across diverse sectors, such as manufacturing, retail, BFSI, healthcare, government, etc., is further expected to boost the adoption of BYOD solutions across North America in the coming years.
- The shift to deliver the access of business critical information to the employees, regardless of their geographical location, has pushed the rapid adoption of BYOD solutions. With the increase in adoption of smartphones and tablets for accessing the business critical information, the growth of BYOD in the region is expected to be high over the forecast period.
- Furthermore, smartphone is the most preferred device for BYOD employees. According to Consumer Technology Association, the revenue from smartphone sales in the United States is expected to reach USD 80 billion in 2019 from USD 69 billion in 2017.
- Organizations operating in the region are encouraging their employees by numerous reimbursement schemes to purchase tablets of their own choice. This has boosted the growth of the BYOD market in the region.
The competitive rivalry in this market is high because of the presence of dominant players, like VMware, Inc., Citrix Systems, Inc., IBM, SAP SE, BlueBOX IT, Cisco Systems, Inc., etc. The players in this industry are constantly working on developing their product portfolio to gain competitive advantages with mergers and acquisitions, partnerships, and constant innovation.
- Sept 2019 - Crestron launched the Crestron ONE app with mobile room control, enabling a flawless control experience from any personal device. Crestron ONE empowers employee wayfinding, room automation, and content sharing from their personal device, facilitating touchless room management. With Crestron ONE, employees and guests at any workplace can control room technology safely, securely, and reliably through their personal devices which automatically detect Crestron systems, authenticate via the touch screen, and securely connect.
- July 2019 - Microsoft integrated third-party mobile threat defence (MTD) software with its Intune UEM platform, enabling corporate systems to detect when an employee's unenrolled, smartphone or tablet has an app potentially infected by malware. The new Intune capability is particularly useful for companies with bring-your-own device (BYOD) policies in that it can block access to enterprise systems on devices flagged by the MTD software
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