Global Bring Your Own Device (BYOD) & Enterprise Mobility Market Report 2022: Increasing Need for Productivity and Employee Satisfaction Boosts Sector

DUBLIN, April 6, 2023 /PRNewswire/ -- The "Global Bring Your Own Device (BYOD) & Enterprise Mobility Market by Deployment Mode (Cloud and On-Premises), Component (Services, Software, and Security), Industry Verticals, and Region - Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

The market for Bring Your Own Device (BYOD) and enterprise mobility was valued at USD 67.85 billion in 2021 and is expected to experience a revenue compound annual growth rate (CAGR) of 15.9% over the forecast period.

This growth can be attributed to various factors, including the need for increased productivity and employee satisfaction, reduced hardware costs for organizations, and the expansion of mobile and broadband services.

BYOD is a recent trend that permits employees to use their personal devices for work purposes. With a BYOD policy in place, businesses can use laptops, tablets, and cellphones for work-related functions without purchasing additional IT management equipment. The development of BYOD policies is typically done by organizations, which consider various factors such as security concerns and permitted device types. Employees are required to read and understand the policies put in place by their employer before agreeing to participate in BYOD programs. Additionally, organizations can install specific applications on employees' devices for work purposes and put in place security measures to access confidential company information. Some employees may not be allowed to participate in BYOD programs, particularly if their Mobile Device Management (MDM) policy blacklists specific apps. Policies that allow employers to remotely access staff devices are common, although employees may prefer a clearer separation between work and personal life.

Increasing Need for Productivity and Employee Satisfaction

The enterprise mobility and Bring Your Own Device (BYOD) policies enable employees to use their personal electronic devices, such as smartphones, tablets, and laptops, for work-related activities, which is a significant factor driving the growth of the industry. The increased use of BYOD and enterprise mobility solutions in businesses has helped in managing work more flexibly, saving money on infrastructure, and improving employee performance. Furthermore, small and medium-sized enterprises (SMEs) have started adopting BYOD and enterprise mobility solutions due to the high degree of comfort and flexibility it offers, leading to the growth of the BYOD and enterprise mobility market. The BYOD and enterprise mobility market have also expanded globally due to increased smartphone penetration, rapid growth in mobile data and device usage, and lower hardware prices for businesses. Technology's benefits include increased employment rates, fast urbanization, industrialization, economic development, digitization, the need to reduce security concerns, stimulation of investment, an increase in productivity, and employee happiness. The possibilities for market growth in the BYOD and enterprise mobility market include the increasing usage of cloud-based technologies and the popularity of BYOD.

Lack of Uniformity in Devices May Hamper Operations

The variety of gadgets utilized for work in the office under the BYOD model is a major issue. For instance, while some workers might feel more comfortable with only an iPad and a MacBook, others might prefer a Windows tablet and laptop. Additionally, some people might upgrade their smart devices every two to three years while others might stick with the same model for an extended period, which could lead to multiple devices causing problems with a company's software functionality and interoperability. Moreover, employees could face issues installing or utilizing these programs, even with more dated machines. It could be challenging for workers to cooperate across several devices, especially when they need to transmit and edit data. Furthermore, management might need to develop unique directives, Standard Operating Procedures (SOPs), and information packages due to various devices utilized in the enterprise.

Key Takeaways

Deployment Mode Outlook

The global enterprise mobility market is divided into two deployment modes: cloud and on-premises. In 2021, the cloud segment experienced significant growth as it enables organizations to quickly deploy various services. With the use of cloud technology, employees can access data directly on their devices and start working without waiting for validated reports. This platform also enables users to make service requests from their devices, and businesses that adopt mobile cloud platforms can benefit from increased productivity, stronger relationships with clients and business partners, quicker time to market, improved work processes, and more affordable and integrated storage and business apps. This segment is expected to drive revenue growth.

Component Outlook

The market is also divided into three components: services, software, and security. The software segment is expected to register a steady growth rate as enterprise mobility software can help organizations manage and secure mobile devices used by employees, uphold corporate policy, and follow security regulations. This software can also provide more control over app users' download and data sharing, increase employees' productivity at work, enhance workflows through app data analysis, and offer new apps to meet staff demands.

Industry Vertical Outlook

The market is further segmented by industry verticals, including BFSI, IT & telecom, automobile, and others. The IT & telecom segment is expected to register a steady growth rate due to the rising adoption of BYOD and enterprise mobility in the industry. Enterprise mobility solutions can help IT professionals manage massive data pools using AI and big data analytics technology, make swift decisions based on insightful facts, accurately allocate resources through real-time tracking, and enhance departmental coordination. They also aim to increase staff productivity and customer happiness by raising reaction time and lowering costs, and ultimately increase profitability. With mobility solutions, employees can access company data on various devices and keep all stakeholders and management in sync.

Key Topics Covered:

Chapter 1. Market Synopsis

Chapter 2. Executive Summary

Chapter 3. Indicative Metrics

Chapter 4. BYOD & Enterprise Mobility Market Segmentation & Impact Analysis
4.1. BYOD & Enterprise Mobility Market Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers' analysis
4.2.2.1. Increasing need for productivity and employee satisfaction
4.2.2.2. Increase in data traffic
4.2.2.3. Reduction in hardware costs of organizations
4.2.2.4. Growth of mobile and broadband services
4.2.3. Market restraints analysis
4.2.3.1. Security concerns regarding information
4.2.3.2. Lack of uniformity in devices may hamper operation
4.2.3.3. High costs

Chapter 5. BYOD & Enterprise Mobility Market by Deployment Mode Insights & Trends

Chapter 6. BYOD & Enterprise Mobility Market by Component Insights & Trends

Chapter 7. BYOD & Enterprise Mobility Market by Industry Verticals Insights & Trends

Chapter 8. BYOD & Enterprise Mobility Market Regional Outlook

Chapter 9. Competitive Landscape

Chapter 10. Company Profiles

Companies Mentioned

• SAP SE
• Honeywell International Inc.
• Infosys Limited
• Microsoft Corporation
• Oracle
• Capgemini
• Tech Mahindra Limited
• Cisco Systems Inc.
• IBM

For more information about this report visit https://www.researchandmarkets.com/r/c44bx2

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets 
Laura Wood, Senior Manager 
[email protected]  

For E.S.T Office Hours Call +1-917-300-0470 
For U.S./CAN Toll Free Call +1-800-526-8630 
For GMT Office Hours Call +353-1-416-8900 

U.S. Fax: 646-607-1907 
Fax (outside U.S.): +353-1-481-1716

Logo: http://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets