BYOD Could be Worth $266.17 Billion by 2019 says Recent Research

A recent research initiative has determined that the market for Enterprise Mobility and BYOD will reach a value of $266.17billion, at a compound annual growth rate of 25.2% by 2019.

The research, by MarketsandMarkets, was conducted to define and segment the global BYOD market into various sub-segments, with an acute analysis and forecasting of market sizes. Additionally, factors driving the market growth were identified, as well as various restraints and opportunities impacting it, along with trends in adoption.

According to the research, there has been a significant growth in the BYOD market, which is expected to continue over the coming years. Organisations have become much more open to putting in place BYOD policies, due to the increase in mobile application use in the workplace. However, the main challenge in doing this is to build networks that are sufficiently secure and accessible.

It appears that the major industry verticals are well-placed in terms of the adoption of mobile technology and the related issues and implications. Current BYOD solution providers offer interactive software solutions and security systems which can be implemented through smart devices for task management and information delivery.

Due to the consumerisation of IT, many enterprise IT leaders have recognised the need to embrace mobility, and IT infrastructure plays a crucial role in the successful implementation of personal devices in the corporate environment. The report warns that businesses must adhere to the policies and guidelines related to BYOD, in order to adapt their network security accordingly.

The MarketsandMarkets research suggests that the total BYOD and Enterprise Mobility market will grow from $71.93billion in 2013 to $266.17billion in 2019.

To learn more about how enterprises can leverage BYOD-enabled employees to cost-effectively improve their fundamental business workflows, read From BYOD to MobileFirst: Transforming your Employees' Work-Life Balance.