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BYOD and enterprise mobility market to exceed $284 billion by 2019

BYOD and enterprise mobility market to exceed $284 billion by 2019
BYOD & Enterprise Mobility

MarketsandMarkets has released some eye-popping figures in terms of the BYOD and enterprise mobility market. The research and consulting firm expects the global market for BYOD and enterprise mobility to nearly quadruple in size over the next four years. Currently valued at $72 billion, MarketsandMarkets expects annual growth of 26.6 percent for a projected value of $284 billion by 2019.

That’s a projected 26.6 percent compound annual growth rate (CAGR) and North America is positioned to be the largest region in terms of market size.

The report, “Bring Your Own Device (BYOD) & Enterprise Mobility Market,” defines and analyzes the global BYOD market in the following segments: Mobile Device Management, Mobile Application Management, Telecom Expense Management, Content Management and Email Management.

Key drivers of growth include cloud infrastructure adoption, reduced hardware costs, emergence of the mobile workforce, growing smartphone adoption worldwide, across a growing number of industry verticals and regions, according to the report. Security and compliance are also on the minds of many enterprise decision-makers. “Government standards and regulations such as HIPAA and PCI DSS” are now necessary considerations for organizations with BYOD programs, according to the report.

Together, these factors have “encouraged organizations to come up with effective strategies for adopting” the BYOD model.

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