Global BYOD Security Market to Post a CAGR Surpassing 24% Until 2020, Says Technavio

LONDON--()--According to the latest market study released by Technavio, the global BYOD security market is expected to grow at a CAGR of more than 24% during the forecast period.

This research report titled ‘Global BYOD Security Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

BYOD security market at a glance

The global BYOD security market is in its growth stage. The increase in the number of mobile devices, rise in the number of mobile malware attacks, increased internet use on mobile devices, and enterprise mobility are major factors contributing to the growth of the market. The rate of adoption of the BYOD policy among enterprises in North America is higher compared to enterprises in Europe. This is because enterprises in North America are more advanced in terms of their dependence on the internet and awareness of digital technologies. In Europe, enterprises refrain from adopting BYOD because they believe that continuous invention of new bugs will lead to higher investments in security solutions. By the end of 2018, SMBs in India, China, and Brazil will implement the use of the BYOD policy to facilitate employee satisfaction and to improve productivity.

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Based on end-user, the report categorizes the global BYOD security market into three major segments:

  • Large enterprises
  • Government organizations
  • SMBs

Global BYOD security market by large enterprises

BYOD security solutions are gaining importance among large enterprises because of the growing need to prevent data breaches and maintain data confidentiality. Large enterprises are increasingly adopting the BYOD policy to improve business productivity and provide employees with the convenience to work efficiently from home. It helps enterprises to save on hardware and service costs. With the increase in adoption of mobile cloud services, mobile managed services, and the BYOD policy among enterprises, hackers are focusing on improving and developing new hacking methods. They are developing applications that control mobile devices and steal stored data. Malware and spyware can send unauthorized messages from mobile devices without the user's consent, which can lead to financial losses. These types of malware can also steal the user's financial and personal information.

According to Amrita Choudhury, a lead analyst at Technavio, for research on IT security, “Large enterprises are considering investing in BYOD security solutions to protect critical information from security threats. They have higher IT security budgets, which allow them to invest in advanced security solutions.”

Global BYOD security market by government organizations

Government organizations are highly dependent on IT and mobile devices for business operations, which has resulted in the increased incidents of security threats. Advanced targeted attacks including phishing, botnets, worms, and spyware are becoming common in government organizations because of the increased use of mobile devices. “There is a greater demand for BYOD security solutions among organizations in the government sector because of the increased need to protect critical data and assets from theft, exploitation, and sabotage,” adds Amrita.

Global BYOD security market by SMBs

SMBs are constantly increasing their investments in IT security products to improve the efficiency of business processes and to gain competitive advantages in the market. Many SMBs worldwide have adopted the BYOD policy to reduce capital expenditure and improve business productivity and efficiency. The adoption of the BYOD policy among SMBs has exposed them to incidences of hacking and insider threat. This has led to the increased adoption of BYOD security solutions among SMBs.

The top vendors highlighted by Technavio’s research analysts in this report are:

  • Citrix Systems
  • Good Technology
  • IBM
  • MobileIron
  • VMware

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

According to the latest market study released by Technavio, the global BYOD security market is expected to grow at a CAGR of more than 24% during the forecast period.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com