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The bring your own device (BYOD) market size is estimated to grow at a CAGR of 15.49% between 2023 and 2028. The market size is forecast to increase by USD 101.02 billion. The growth of the market depends on several factors, including the reduced hardware cost for enterprises, the rsing smartphone penetration, and the increasing employee satisfaction and productivity. Bring your own device (BYOD) is an emerging technological trend, which encourages employees to use their own devices to access the companys corporate systems and data. BYOD successfully connects a lot of people and companies that struggle with geographical limitations and long-distance team collaborations and provides access to the necessary information.
The report includes a comprehensive outlook on the bring your own device (BYOD) market, offering forecasts for the industry segmented by Deployment , which comprises on-premises and cloud. Additionally, it categorizes End-user into retail, healthcare, government, energy and utilities, and others, and covers Geography regions, including North America, APAC, Europe, South America, and Middle East and Africa. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
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Increasing employee satisfaction and productivity is the key factor driving market growth. BYOD technology gives freedom to employees across various industries to work from anywhere in the world. The adoption of BYOD has positively impacted the productivity of employees in different industries, such as healthcare, banking, and MNCs. BYOD programs provide more flexible schedules, heightened creativity, innovation, and better workplace collaboration.
Moreover, adopting the BYOD policy can enhance employee satisfaction because employees are already comfortable with their devices, and they can even customize the device according to their preferences. Moreover, BYOD programs help employees balance their personal and professional lives, which, in turn, increases their satisfaction and productivity as well. Thus, such factors will drive the growth of the market during the forecast period.
The adoption of BYOD in SMEs is the primary trend shaping market growth. SMEs require regular updates on their services, as they find themselves catering to many customer segments, and this requires constant innovation in business offerings. Enterprise mobility solutions are among the most valuable methods for SMEs to increase their revenues, improve customer services and satisfaction, and reduce the cost of acquiring customers.
Furthermore, SMEs and regular high-data use individual customers are focusing more on 4G wireless routers, and the bring your own device market is projected to experience constant growth in the future due to abundant mobility benefits. Thus, the increasing adoption trend of BYOD in SMEs will boost the growth of the market during the forecast period.
Lack of uniformity in devices is a challenge that affects market growth. The variety of gadgets utilized for work in the office under the BYOD model is a big issue. Multiple devices could cause operational and software compatibility problems for the business. Every organization has a particular software for completing projects and tasks. Additionally, the same software may have various versions or shortcuts for different operating systems (OS). It could be challenging for employees to cooperate across several devices, especially if they need to transmit and edit data.
As a result, organizations must create different directives, standard operating procedures (SOPs), and information packets for all different types of devices used in the organization. Hence, the lack of uniformity in devices leads to compatibility issues impeding the growth of the global BYOD market during the forecast period.
The market share growth by the on-premises segment will be significant during the forecast period. On-premises deploy software within the confines of the organization. The data are stored on the company's server, and the company is responsible for installing the maintaining the software. With on-premises, sensitive data such as personal information, location details, and enterprise apps can be managed quickly as the data are present on-premises. Besides, scaling on-premises comes at a cost as it requires additional hardware equipment and software to handle increasing workloads, and an in-house team is needed to facilitate upgrades.
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The on-premises segment showed a gradual increase in the market share of USD 34.37 billion in 2018. On-premises infrastructure requires upfront capital costs. Additional costs include hardware maintenance, software updates, power consumption, and IT staff for maintenance. Lower network bandwidth costs, greater security and privacy, and more control over server hardware are some of the benefits of on-premises deployment. Thus, such benefits of the on-premises segment will boost the global BYOD market during the forecast period.
The retail segment is growing at a significant rate in the global bring your own device (BYOD) market. A new opportunity for retailers is being created by the consumerization of retail, where customers have more access to information through technologies such as cloud, mobile, and social media. Retailers can benefit from BYOD by giving customers a more engaging in-store experience, which lowers device acquisition costs and gives retailers visibility into in-store performance. Furthermore, as the devices are owned by employees, they take greater care of them. Replacements are never as frequent as retailers expect, and when they are, they are cheap and quick to do. Thus, such factors contribute to the growth of the retail segment of the global BYOD market during the forecast period.
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APAC is estimated to contribute 32% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Another region offering significant growth opportunities to BYOD market players is North America. Bring your own device market players have a strong presence in the North American region. The move to provide employees with access to business-critical information regardless of their location has boosted the adoption of BYOD solutions.
The adoption of BYOD solutions in the North American region is expected to increase due to the growing use of social media, mobile technology, advanced analytics, cloud computing, and the IoT across a variety of industries. Furthermore, the US has one of the largest smartphone industries in the world. The smartphone penetration rate in the US has increased steadily over the past few years, in line with the general growth of the smartphone industry globally. Thus, such factors will contribute to the growth of the regional bring your own device market during the forecast period.
The Bring Your Own Device (BYOD) Market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
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Global Bring Your Own Device (BYOD) Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The bring your own device (BYOD) market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018-2028
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Bring Your Own Device (BYOD) Market Scope |
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Report Coverage |
Details |
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Page number |
178 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 15.49% |
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Market Growth 2024-2028 |
USD 101.02 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
14.75 |
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Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 32% |
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Key countries |
US, China, Japan, India, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Accenture Plc, ALE International, AT and T Inc., BlackBerry Ltd., Broadcom Inc., Capgemini Service SAS, Cisco Systems Inc., Cloud Software Group Inc., Forcepoint LLC, Fortinet Inc., HCL Technologies Ltd., Hewlett Packard Enterprise Co., Honeywell International Inc., International Business Machines Corp., Ivanti Software Inc., Microsoft Corp., Oracle Corp., Tata Consultancy Services Ltd., Tech Mahindra Ltd., and Verizon Communications Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Deployment
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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