Global BYOD Security Market 2016-2020

Overview of the global bring your own device (BYOD) security market

Extensive market research carried out by the analysts at Technavio has shown that the global bring your own device (BYOD) security market will grow at a tremendous CAGR of nearly 25% over the forecast period. The increasing adoption of mobile devices by enterprises and consumers for performing personal and business tasks has led to them becoming potential targets for cyber attacks. These personal mobile devices are used for multiple applications like web browsing, e-mailing, accessing corporate information, monetary transactions, downloading apps, and accessing social media sites. Recently, there has been a surge in cyber crime and cyber attacks by malware like Trojans, viruses, and adware. Such malware enables hackers to gain access to confidential data stored on mobile devices, triggering a loss of personal and financial data, misconduct, and exploitation. Moreover, mobile devices can also be infected by malware through networks, the Internet, and the use of external storage devices like USBs and media cards.  Therefore, the increasing instances of cyber attacks have raised concerns and awareness among organizations of the various security risks translating into the augmented adoption of BYOD security solutions.

In this market study report, the analysts have estimated factors such as increasing market consolidation to bolster the growth prospects for the BYOD security market over the predicted period. Since the global BYOD security market is highly fragmented, it presents several opportunities for mergers and acquisitions. Large enterprise application vendors and core BYOD security vendors are engaging in M&A strategies to improve their position and presence in the market. As a result, many leading companies are readily acquiring small vendors to enhance their product base. With such acquisitions, established enterprises are gaining a competitive edge by keeping up with technological advances and are getting opportunities to explore emerging markets; for instance, well-established vendors such as Citrix Systems, Good Technology, and IBM are expected to continue the trend of acquisition and mergers in the next four years.

Segmentation by end user and analysis of the BYOD security market

• Large enterprises
• Government organizations
• SMBs

The large enterprises segment dominated the global BYOD security market and accounted for more than 46% of the market share in terms of revenue. Large companies are increasingly adopting the BYOD policy to improve business productivity and provide employees with the convenience to work efficiently from home. Also, this helps big organizations to save on hardware and service costs. With the increasing adoption of the BYOD policy, mobile managed services, and mobile cloud services among enterprises, cyber criminals are focusing on improving and developing new hacking methods. Therefore, the growing need to prevent data breaches and maintain data confidentiality will contribute to the growth of this market segment until the end of 2020.