BYOD (Bring Your Own Device) is now a worldwide trend, it’s part of the enterprise set-up everywhere and companies and organizations all over are making the most of this emerging trend. The BYOD market is expanding now like never before…
As per recent reports, the next five years would see an unprecedented growth in the BYOD market. In fact, it’s pointed out that the BYOD market globally would be expanding to more than double of what it is, in the next five years. Just take the case of the market in the US. If it’s a $35 billion market now, it’s estimated that by 2021, it’s likely to have touched $73 billion. The annual BYOD market growth rate, as per studies made by an India-based research firm recently, is almost 16 percent. Studies also show that Canada and the US would be contributing the largest market share in this area in the next few years.
Reasons for the growth in BYOD market
The growth registered in the BYOD market is perhaps of an expected kind, taking into consideration that factors that contributed to it. Let’s examine these factors-
While the BYOD market is showing this kind of an unprecedented growth, entrpreneurs and companies should also understand that there are security issues related to it, which need to be taken care of. Hackers could gain access to corporate data as well as sensitive card data of customers through unsecured personal devices if proper care is not taken. Hence companies and organizations should give utmost importance to adopting security measures and adopting things like BYOD security, MDM (Mobile Device Management), MTM (Mobile Threat Managament) etc. Having a BYOD policy should be of prime importance too. The IT departments in all companies should take special care to ensure that BYOD poses no threat to their businesses or reputation and also that it doesn’t lead to data breaches.