BYOD Security Market to Record an Exponential CAGR by 2023

Bring your own device (BYOD) refers to computing devices such as smartphones and tablets that employees bring to the workplace on the secure corporate networks. These mobile devices are prone to viruses and other potential risks such as cyber attacks. BYOD security solutions protect such devices from security threats that can harm the intellectual property of the organization. Additionally, these security solutions aid employees to take optimum advantage of mobile devices to efficiently perform their tasks at convenient locations.

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Business enterprises across the globe are promoting the use of BYOD devices, thereby allowing their employees to carry these portable mobile devices for work-related tasks at the convenient locations. BYOD concept permits employees to access data at real time, thereby helping them in making quick decisions. This in turn necessitates the deployment of effective BYOD security solutions to prevent unauthorized access to the company’s data and in turn is fuelling the growth of BYOD security solutions market. Another key factor boosting the growth of BYOD security market is the increased demand for smartphones. Employees prefer to carry-out work-related tasks such as accessing and sending emails while on the move.

This ensures employee productivity independent of their location. This for addressing all Increasing possible security threat is triggering the need for deploying effective BYOD security solutions. BYOD risk doesn’t just arise from malicious hackers. Threats to data and security are hidden in the most innocuous seeming software applications that employees access over the enterprise network. Such apps can transmit user data to advertisers, access contacts lists, read SMS messages or even install packages on the phone. Mobile application management (MAM) solutions offer more security control than Mobile Device Management (MDM). Thus, the BYOD security market is seeing a paradigm shift from MDM approach to the app-centric MAM approach. Some of the recent solutions by are Citrix Systems, Inc such as XenMobile are a combination of MDM, MAM and enterprise-grade productivity apps.

However, initial investment to deploy these solutions is a significant factor restraining the growth of the market making them unaffordable for start-up companies. Also, the lack of awareness among the end-users and the technical complexity involved in resolving the issues pertaining to theft of BYOD device is a critical factor affecting the adoption of BYOD security solutions. Due to these factors, certain mid-size business enterprises are reluctant to implement the use of BYOD devices and their security solutions, thereby adversely affecting the growth of this market.

The BYOD security market is segmented on the basis of types of security solutions as mobile data security solutions, mobile data management solutions, mobile network security solutions, and mobile ID management solutions among others. The BYOD security market is dominant in North America. The growth is primarily attributed to advancements in security based technologies and stiff competition among the business enterprises to increase productivity and in turns revenues by focusing on employees comfort. Asia-Pacific is witnessing growth in BYOD security solutions due to the increasing foreign investment in India, China, Indonesia and Singapore among others. Proliferation in the usage of smartphones is also one of the key factors for the growth of BYOD devices and its security solutions in this region. However cost associated with the BYOD devices security solutions are high making it a hindrance in this market.

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Leading players in the market are investing in research and development in designing solutions with the goal to address the increasing number of security threats and lessen their impact. For instance, Fortinet Inc., one of the major players in the market recently detected 211G1 malware and developed advanced techniques in blocking this malware. Other leading players in the market include Citrix Systems, Inc., International Business Machines (IBM) Corporation, VMware Inc., MobileIron, and Good Technology Corporation.

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