Latest News- Bring Your Own Device (BYOD) Market: Retail is expected to lead the End-user segment during 2025-2029

The Bring Your Own Device (BYOD) Market is being driven by Reduced hardware cost for enterprises

The Bring Your Own Device (BYOD) Market is expected to grow at a CAGR of 19.3% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 155759.4 million. The Bring Your Own Device (BYOD) market trend in Small and Medium Enterprises (SMEs) signifies a significant shift towards enterprise mobility solutions. These solutions enable businesses to stay competitive and responsive to evolving customer demands. SMEs, with their diverse customer segments, necessitate frequent updates to their offerings. BYOD implementation empowers SMEs to enhance revenue growth, optimize customer services, and reduce customer acquisition costs. In contrast, large organizations primarily focus on managing the inflow and outflow of mobile devices within their corporate environment. For SMEs, BYOD is a strategic tool to boost business agility and efficiency. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Retail
  • Healthcare
  • Government
  • Energy and utilities
  • Others
• Deployment
  • On-premises
  • Cloud
• Sector
  • Large enterprises
  • Small and medium enterprises (SMEs)
• Geography
  • North America
    • Canada
    • US
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Reduced hardware cost for enterprises
• Rising smartphone penetration
• Increasing employee satisfaction and productivity

However, the market also witnesses some limitations, which are as follows:

• Infrastructure constraints and connectivity issues
• Privacy and security concerns
• Lack of uniformity in devices

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Market Scope in Bring Your Own Device (BYOD) Market Research Report

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Research Analysis Overview

In the Bring Your Own Device (BYOD) market, zero trust security is prioritized to ensure data protection. Biometric authentication secures access, while mobile device analytics track usage and performance. Policies manage integration, ownership, and support, including device upgrades, repairs, and replacements. Employee productivity metrics are monitored, and compliance is enforced through mobile device policies and solutions. Application usage is tracked for optimization, and device health and performance are monitored throughout the device lifecycle. Insurance options provide peace of mind for device damage or loss. Effective BYOD program management includes deployment, training, and ongoing device maintenance.

Market Research Overview

The Bring Your Own Device (BYOD) market is a significant segment of the global technology hardware, storage, and peripherals market, which encompasses manufacturers of mobile devices, computers, servers, and peripherals. According to Technavio, this market is driven by the increasing volume, velocity, veracity, and variety (4Vs) of data, leading to a surging demand for data storage solutions. To effectively manage and secure this data, businesses are prioritizing mobile device management (MDM), endpoint security, data encryption, remote access, and application management solutions. The global technology hardware, storage, and peripherals market size is determined by the revenue generated from sales of hardware devices, equipment, and components. Other factors fueling market growth include the proliferation of IoT devices, digital transformation initiatives, and advancements in cloud computing.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/