BYOD market expected to reach £59 billion by 2021

BYOD market expected to reach £59 billion by 2021 [Photo: ShotShare via iStock]

The global bring your own device (BYOD) and enterprise mobility market is expected to reach $73.3 billion (£59 billion) by 2021, according to a new report.

The report – entitled ‘BYOD & Enterprise Mobility Market by Software (MDM, Mobile Content Management), Security (Device Security, Network Security, IAM), Service (Managed & Professional Services), Deployment (Cloud & On-Premise), Vertical, and Region – Global Forecast to 2021’ – was published by MarketsandMarkets.

Currently, the sector is worth $35.1 billion. It is forecast to grow at a compound annual growth rate (CAGR) of 15.87% until 2021.

The researchers expect that increased productivity and employee satisfaction, reduced hardware cost for businesses, increased smartphone penetration and the growing prominence of managed mobility services will drive the market.

It is also thought that demand for enterprise mobility software in large firms with in-house IT departments will be a driving force for the expansion of the BYOD market.

According to the report, mobile device management software has the largest BYOD software market share during the forecast period.

Its market share is expected to grow because of the rapid increase in the use of mobile devices for personal as well as professional tasks. The report publishers said that mobile device management has allowed organisations to deploy, monitor, integrate, and manage mobile devices in the workplace.

Among the BYOD security market, the identity access management market is expected to grow at the highest rate, followed by the mobile content security market. The report explained that identity access management provides access to resources for authorised individuals and manages and monitors user activities to protect company information.

Any business that operates a BYOD policy should incorporate a specialist mobile device management solution. Arrow could provide this in the form of Cloud-based MaaS360 from IBM and BlackBerry BES12.