Bring Your Own Device (BYOD) could be seen as a rather new trend, but it’s now trending, picking momentum. Companies all across the world are encouraging BYOD owing to obvious reasons. It makes the work culture rather flexible and reportedly boosts productivity. The most notable thing, for entrepreneurs, would definitely be that it helps cut down on expenses.
It was in 2009 that the term BYOD was used for the first time; the trend got popular only from 2011. Today, with smartphones, tablets etc getting popular, the BYOD trend has picked momentum and is sort of encouraged in companies everywhere.
In this scenario, it would be interesting to make a segment-wise market analysis of BYOD. The market analysis could be categorized as based on devices, based on end-use, based on software used etc and discuss trends for the next 3 or 4 years.
A market analysis based on the devices used suggests that the market definitely is going to expand in the next few years. There is an increasing awareness of mobile device technology and many smartphone users now prefer using their device at work too, for official purposes. They thus manage to combine work with personal activities, personal life. Laptops and tablets too are increasingly used in BYOD; the market would no doubt expand for these BYOD devices too.
End-use based analysis
Market analysis based on BYOD end-use suggests considerable business growth for many businesses owing to the rising popularity of BYOD. All kinds of businesses, from small ones to larger ones, would enjoy the benefits of BYOD, especially since it brings down cost (lesser operating cost as there is a lesser need for hardware installation) and also makes business easier. The finance and banking sector would benefit a lot while the healthcare industry too would register business growth due to widespread BYOD usage. Retail and manufacturing sector, IT industry, the telecommunication industry, logistics, and transportation etc are some of the other sectors that would reap the benefits of the BYOD trend. Increased usage of GPS, mobile applications, internet apps etc in these sectors has caused this kind of a surge in business.
BYOD technology grows with and also involves an increase in usage of IT applications and software related to Mobile Application Management (MAM), Mobile Device Management (MDM), Enterprise Mobile Content Management (EMCM), Enterprise Mobile Email Management (EMEM) etc. The trends suggest that with these different kinds of software getting more popular BYOD technology would obviously register further growth. Similarly, with BYOD being increasingly encouraged and promoted, such IT applications and software too would be in demand.
BYOD no doubt is a global trend, but it’s North America that has registered the largest BYOD market share; this would continue at least till 2020. Asian and Latin American companies have been encouraging BYOD; China will witness the fastest growth in the next few years as regards BYOD. At the same time, Europe seems a bit cautious and hesitant as regards promoting BYOD.
To round up, let’s examine the reasons that make BYOD so popular globally. We also need to take a look at what all could affect BYOD adversely.
Well, we could say that the factors that help the growth of BYOD include a more flexible work atmosphere (leading to increased job satisfaction), a considerable increase in productivity, decrease in operational expenditure and expenditure related to installation of hardware etc. At the same time, the factors that work against BYOD are security issues, governance related issues, data loss relates issues etc.
The present market trend, however, predicts great growth for BYOD in the next 3-4 years and with entrepreneurs and security experts putting their heads together to root out the negatives, the BYOD would definitely register spectacular growth in the next decade as well.