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  • 13 June 2018 20:11

U.S. to lead Bring Your Own Device (BYOD) Market over 2017-2022, elevated rate of IT consumerization to boost the regional revenue

Application of this system for enhancement of organizational productivity is predicted to positively impact BYOD market trend.

Encouraging BYOD models has been depicted to ensure maximum productivity with minimal distractions in the recent years. Bring your own device industry has made a solid mark with the increasing implementation of this system across global work environments. This is evident from the projected revenue figures - Bring Your Own Device (BYOD) Market , worth USD 94.15 billion in 2014, is anticipated to hit a revenue of USD 366.95 billion by 2022, as per Global Market Insights, Inc.

Literally and figuratively, bring your own device refers to the practice of permitting employees to bring their own devices (computers, laptops, tablets, palmtops, and smartphones) to work. The successful implementation of this model has led to improved productivity across the IT sector. An intelligently designed and executed bring your own device model is likely to reduce the necessity for continuous IT support staff, thereby profiting the organization in terms of reduced staff recruitment and fueling global bring your own device industry.

Increasing smartphone penetration in countries such as India and China will lead to APAC bring your own device market growing at a remarkable CAGR of 20.8% over 2015-2022. Reasonably priced internet plans coupled with high productivity in companies will augment the regional growth.

Rising popularity of the enterprise mobility model across North America and the huge rate of smartphone usage will also propel U.S. bring your own device industry, which is projected to grow at a high annual growth rate of 15% over 2015-2022. Having attributed to more than 30% of the regional market share in 2014 with a revenue of USD 30 billion, U.S. will be the highest revenue generator over 2015-2022, enormously fueling the regional growth.

With increasing applications across small, mid-sized, and large businesses, global bring your own device market is driven by the surging use of laptops and tablets and the rising technological advancements in the mobile industry. Excellent internet plans (4G) and low calling rates offered by premium service providers will further augment bring your own device market size.

Rising usage of smartphones across various sectors coupled with the high demand for the BYOD model from small enterprises will propel bring your own device industry share from small businesses. This market is projected to be the most lucrative end-use segment, projected to grow at a rate of 19.7% with a target revenue estimation of USD 90 billion by 2022.

Having been valued at USD 50 billion in 2014, bring your own device market from smartphones is predicted to grow at a CAGR of 17% over 2015-2022, driven by the highly escalating global demand for smartphones subject to the convenience factor offered by these devices in terms of combining work and entertainment.

Rising adoption of tablets and increasing technological innovations in this sector will lead bring your own device market from tablets to experience maximum growth between 2015-2022, with a projected revenue of USD 130 billion by 2022.

Major players partaking in global bring your own device industry include Good Technology, IBM Corporation, Cisco Systems, MobileIron, and Alcatel-Lucent. In a bid to retain employees, companies are focusing on providing data security and device safety to enhance overall productivity standards of the enterprise.

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