The bring your own device market (BYOD) has seen rapid growth over the last few years and it looks like this is set to continue and speed up between now and the year 2022.
This growth in the BYOD market is attributed to the number of companies adopting BYOD policies, which means that the market is now valued at billions of pounds, according to a report published by Market Research Future.
BYOD allows employees to bring their own device to work in order to use them to access company information and continue utilising them as personal devices. It encompasses all electronic devices from smartphones to tablets and laptops.
More workers are choosing to work from a single device, which brings with it a number of benefits. As well as avoiding the inconvenience of having to use separate devices, BYOD can help employees feel more comfortable with the device they're using, which can aid productivity.
For companies, BYOD removes the costs of purchasing new devices in the case of loss or theft, as well as upgrades and software purchases. As technology is changing at such a fast rate, BYOD can help ensure companies aren't struggling to keep up.
According to the report, the BYOD market is currently dominated by North America, with this being driven by a high consumption of electronic devices and high employment rates. However, Europe is closely following as the second biggest market in terms of BYOD revenue.
Other BYOD markets are also growing at a quick pace, with Asia-Pacific market seeing the fastest growth rate. It is expected to continue growing and could start to catch up with the top of the table.
With BYOD becoming such a popular option worldwide, companies need to consider how they are going to keep privileged data safe. Beyond having a strict BYOD policy, businesses also need to look at BYOD security and mobile device management solutions to ensure all information is kept as secure as possible.