The global bring your own device (BYOD) security market is expected to witness significant growth over the forecast period. Introduction of mobile devices has created a huge impact on both personal and professional lives of individuals. In order to increase productivity, organizations are shifting more towards allowing employee’s personal devices such as tablets, laptops, and smartphones for carrying out office work. Many enterprises have created strategies with their IT team to support this revolution as it helps in reducing the overall operation and IT cost. In the competitive business environment, enterprises are constantly thriving to increase their overall efficiency and want their employee’s productivity to be on the higher side. Bring Your Own Device (BYOD) is one such concept that allows employees to carry their own devices to access corporate data.
It is observed that the mobile workforce is more productive, fast, and reduces the cost of buying multiple devices. It gives ease of access to the person as they can access the data anywhere in the world, they have been in a particular place to access the data. An employee from company gets seamless connectivity to data, irrespective of the device they are using.
Increase in adoption of mobile devices to access corporate has resulted in increased in overall organization productivity but also raised data security issues. Unauthorized access, violation of network safety policies are key areas to look into adopting the BYOD strategy. Among organization data loss and unauthorized access are among the chief concerns creating high demand for BYOD security solutions. These solutions offer real-time data protection such as authorized access and data encryption and protect the data in case of stolen devices too.
In many developing economies the adoption of BYOD is not significant chiefly due to lack of technology awareness and security concerns. Enterprises are still not willing to trust the BYOD as there is a possibility of leaking information or mixing personal and corporate information restraining the growth of the market. However, the market for BYOD and its security solutions is gaining traction among the emerging countries considering its huge potential to increase productivity.
On the basis of software, the bring your own device security market is segmented into network & mobile data security, and mobile devices. The solutions market is segmented into four major solutions which include mobile application management, mobile identity management, mobile device management, and mobile content management. The market is further segmented by end-use which includes large enterprises and small & medium enterprises.
On the basis of geography, the BYOD security market is segmented in five regions. It includes North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America. North America is considered to be a market leader followed by Europe in the market. Asia-pacific region is expected to see a rise in demand for BYOD due to gradual increase in the adoption of cloud infrastructure, Tech-savvy generation willing to adapt change, and developing IT sector. Asia Pacific region has observed a change in the attitude of employees to adopt work from home culture which has improved their efficiencies, hence Asia Pacific is an upcoming market for BYOD.
Key companies in the bring your own device security market are Avaya, Air Watch, Alcatel-Lucent, Cisco Systems, Aruba Networks, IBM, Hewlett-Packard, Citrix Systems, Mobileiron, VMware, Blue Box, Kaspersky, Mcafee, Symantec, Forescout Technologies, iPass Inc., Meru Networks, Web root, and Good Technology Inc.
Air watch has launched Air watch inbox in October 2015 as part of the mobile e-mail management system. Air watch inbox has improved security features in smart devices, it is available on more devices, secured video distribution and data will be optimized for IPad.
Hewlett-Packard launched MT42 in August 2015, the world's thinnest, lightest, and most powerful quad-core mobile thin client laptop, which will enable business customers in different sectors, such as financial services, healthcare, and government to perform their tasks in a virtualized environment.
Mobility solution provider Bitzer Mobile was acquired by Oracle. Oracle acquired Bitzer to use its security feature in Oracles BYOD products. Oracles interest in Bitzer’s mobility solution is to keep the corporate data and the personal data separate in the device. This will reduce the chances of corporate and personal data mixing while using one device for office and personal use.
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Amidst the COVID-19 crisis, the network security industry is poised for sustainable growth despite the foreseeable economic turbulence. Implementation of remote working policy, due to lockdown is putting unanticipated stress on remote networking technologies and causing operational technology (OT) security risk concerns over the vulnerable home network security. Furthermore, as digital infrastructure becomes a critical aspect of business strategic considerations, network security will become a competitive differentiator for businesses and overhaul their remote working strategies. We are incessantly monitoring the market dynamics and regulations while continuously assessing the impact of Covid-19 with the aim of providing you with actionable market insights. The report will account for Covid19 as a key market contributor.