The global bring-your-own-device (BYOD) market is predicted to more than triple in the next five years, with vendors such as Alcatel-Lucent, Avaya, Cisco Systems, IBM and Hewlett-Packard serving as major drivers of that growth.
MarketsandMarkets predicts BYOD will grow from more than $71.9 billion in 2013 to almost $266.2 billion in 2019. North America is expected to be the largest market with Europe and Asia-Pacific seeing an increase in market traction in the next few years.
As organizations have become more receptive to the adoption of evolving technology, employees and workers are increasingly using their preferred devices – be it smartphone, tablet, notebook PC or ultrabook.
The biggest challenge for organizations is the difficulty in adopting server-based resources or a secure IT infrastructure, MarketsandMarkets said. The software vendors in the BYOD market are continuously innovating and remodeling their present architecture to build more proficient and advanced systems that can allow workers to bring their own devices for work purposes. The major forces driving this market are cloud infrastructure adoption, reduced hardware cost for enterprises, emergence of mobile user workforce, increase in smartphone penetration and persistent usage popularity among industry verticals, regions and enterprises.