BYOD forecast revealed

BYOD forecast revealed

The bring-your-own-device (BYOD) market across Europe is set to grow from $23.4 billion in 2014 to $74.7 billion by 2019, new research has claimed.

A recent study by TOC found the market is set to increase at a combined annual growth rate of 26.1 per cent during that time.

Europe is currently the second-largest market for BYOD, with the UK holding the largest maximum market share.

Many organisations operating across Europe have shown a greater willingness to adopt mobile solutions as a means of enhancing their productivity, with such methods requiring efficient IT infrastructure to serve the needs of the large workforce.

As well as the many benefits of such technology, the rise of BYOD has been mainly driven by the fact that IT hardware is often reasonably inexpensive.

The UK, which contributes a major share of 23.7 per cent in the overall European BYOD market, is one nation that has been particularly successful in encouraging its use across a number of businesses, while a greater number of young people in work has also helped to drive results further.

The correlation between BYOD and the younger generation is something that has been noticed by a number of businesses, many of which have seen the hiring of young people as the best way to take advantage of the often ludicrous benefits that come with BYOD adoption.

The draw of BYOD is not exactly a mystery as it helps to offer a sense of ease and convenience that allows for substantial cost savings for any company.

There is therefore a feeling that having a BYOD policy will help to add value to a business.

Outside of Europe, there are some other regions that are seemingly just as enthusiastic about BYOD, with the market in North America set to grow from  $25.38 billion in 2013 to $69.52 billion by 2018, with an estimated CAGR of 22.33 per cent during the forecast period.