The BYOD security market revenue estimated to total ~US$ 35.6 Billion in 2023. The BYOD security market is projected to reach ~US$ 235.8 Billion by 2033, growing at a CAGR of 18.9% for 2023 to 2033.
Attributes
Details
Estimated Year (2023) Market Value
US$ 35.6 Billion
Projected Year (2033) Market Value
US$ 235.8 Billion
CAGR% (2023 to 2033)
18.9%
Top 5 Vendor Market Share
20.5%
BYOD stands for “Bring Your Own Device”, it basically allows employees to bring their own laptops/tablet computers to office to be used as work computers, BYOD Security entails maintaining cybersecurity of these devices, BYOD allows organisations to enable their staff by allowing them to utilise the devices with which they are most comfortable and accustomed.
BYOD security hold nearly 5% market share in global cybersecurity market.
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2018 to 2022BYOD Security Market Demand Outlooks Compared to 2023 to 2033 Forecast
The CAGR for BYOD security market is expected to grow from 13.0% in 2018-22 to 18.9% in 2023 to 2033.
Around three out of every five employees under the age of 25, as well as more than half of those over the age of 30, say that the technology they use at home is superior to the tools available at work. BYOD emerged as a subset of the greater trend of IT consumerisation, in which software and hardware from the consumer realm are permitted into business premises.
This market is still in its growth stage and therefore can provide great opportunities for investors.
BYOD offers cost savings and ease by allowing employees to use endpoints for work-related purposes.
BYOD has various business advantages, like cost savings and ease. By implementing BYOD, businesses may improve their flexibility, mobility, and productivity. Businesses that use BYOD programmes in their offices do not need to purchase new devices or carrier plans for each employee.
Each employee is free to utilise the endpoints that they possess for work-related purposes. Some businesses may choose to pay their staff with a compensation that covers a portion or the entirety of their phone expenses.
Others may provide payment based on the employee's geographic area and the price of terminal ownership. BYOD's low cost is a key positive for firms that really are looking to implement a portability programme or are just getting started.
This market is still in introductory phase and will provide great opportunities for early investors.
Find your sweet spots for generating winning opportunities in this market.
Regional Analysis
Due to the widespread use of BYOD security system, North America dominates the global market for BYOD security with a market share of 28.4%.
Increasing investment in wireless technology development, a strong presence of major industry players, and growing preference for personalized workspace are some of the primary drivers driving revenue growth in this region.
Country wise insights
Corporations in USA collaborate to develop mobile security framework for BYOD security administration
BYOD is becoming popular in companies in the USA, with several employees preferring to bring their own devices to work. This has however lead to the problem of maintaining confidentiality with these employees owned devices, in light of these events IBM, Quokka, Palo Alto Networks, Qualcomm, Zimperium have decided to collaborate with NIST to develop Mobile Security Framework, which is a framework developed for BYOD Security administration, which can be followed by companies in the US wanting to implement BYOD.
Therefore, US held the largest market share of 24.2%in 2022.
The demand for BYOD security is being driven by Indian companies' need for BYOD device cybersecurity
The BYOD Security is still emerging in India; the companies that allow BYOD tend to adopt this model to cut costs and therefore don’t seem to be affected by security concerns. On the other hand companies that are tight in security prefer to provide employees with work computers or use alternative models like company-owned, business-only (COBO), and company-owned, personally-enabled (COPE). However, some companies have started to see the advantage of BYOD and are planning to implement it, such companies are likely to require cybersecurity systems for their devices creating demand for BYOD security in the future.
Therefore, India has a CAGR of 17.3%for the BYOD security market over the forecast period.
UAE firms are trying to implement BYOD security applications to boost employee productivity, creating opportunities for BYOD security market
According to Al-Tamimi, a UAE-based legal firm, consumers spend 3 times more on IT than corporations - smartphone adoption in the Emirati is higher than in the US. Taking advantage of the prevalence of mobile devices can boost employee productivity. UAE based firms are therefore trying to implement BYOD security applications, creating opportunities for BYOD security market in UAE,
Thus these factors allow UAE to hold a market share of 19.2%.in 2022 for the BYOD security market.
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Category wise Insights
Is There a Growth Opportunity in BYOD Security for Laptops?
Laptops are most commonly the devices used in BYOD models as they are the most common form of personal work computers, this has led to several security techniques being developed for laptop security, such as biometric identification, smart cards and other encryption methods. These methods however restrict usage of the laptop on a personal level and therefore may not be preferable for BYOD Security. This creates an opportunity for research and development in the BYOD security for laptops fields, giving it a CAGR of 17.6%
Is Mobile Data Security a profitable market to invest in?
Bringing personal devices to work brings the challenge for maintaining company confidentiality, container applications are one method for allowing employees to utilise their own devices while also minimising security threats. These are usually provided by third-party vendors. One container can contain several apps. This option gives the employee less control over their device while still offering appropriate security controls and monitoring. Therefore, Mobile Data Security is a profitable market to invest in.
These factors lead mobile data security to have the CAGR of 16.9% over the given forecast period.
Competitive Landscape
Several Companies in both developed and developing countries are emerging in the BYOD security market, this is leading the market into a position of competitiveness as no firms have been established as a top player yet.
In November 2022, IBM, Quokka, Palo Alto Networks, Qualcomm, Zimperium have decided to collaborate with NIST to develop Mobile Security Framework, which is a framework developed for BYOD Security administration.
In January 2023, Intel introduces a secure computing platform for virtual machines. Intel's VM isolation solution is intended to safeguard data kept within VMs within a trusted runtime environment that is separate from the underlying hardware.
Scope of report
Attribute
Details
Market value in 2023
US$ 35.6 Billion
Market CAGR 2023 to 2033
18.9%
Share of top 5 players
20.5%
Forecast Period
2023 to 2033
Historical Data Available for
2018 to 2022
Market Analysis
USD Billion for Value
Key Regions Covered
North America, Latin America, Europe, South Asia & Pacific, East Asia and the Middle East & Africa
Key Countries Covered
USA, Canada, Germany, UK, France, Italy, Spain, Russia, China, Japan, South Korea, India, Australia & New Zealand, GCC Countries, Turkey and South Africa
