BYOD Security Global Market Report 2024

The byod security market has grown exponentially in recent years. It will grow from $57.86 billion in 2023 to $78.33 billion in 2024 at a compound annual growth rate (CAGR) of 35.4%. During the historical period, growth can be attributed to several factors, enhanced employee productivity and convenience, cost-effectiveness, optimized infrastructure, evolving work culture emphasizing flexibility, increased usage of mobile devices, and the positive impact on employee satisfaction and retention.

The byod security market is expected to see exponential growth in the next few years. It will grow to $263.5 billion in 2028 at a compound annual growth rate (CAGR) of 35.4%. In the upcoming forecast period, growth is expected to stem from ongoing remote work practices, heightened emphasis on data privacy and compliance, the integration of robust endpoint security, advancements in authentication technologies, and the evolution of enterprise mobility management (EMM).

The anticipated upsurge in cyberattacks and data breaches is set to be a driving force behind the expansion of the BYOD security market. These malicious activities afford hackers illicit access to computer systems or networks, enabling the pilfering of private, sensitive, or confidential financial and personal information of clients or users. BYOD security facilitates remote access to organizational resources for employees, ensuring the safeguarding of an organization's data when accessed through personal devices. For example, data from AAG IT Services revealed a staggering global count of over 236.1 million ransomware attacks and an impact on 53.35 million US citizens due to cybercrime in the initial half of 2022. Additionally, a report by HISCOX in May 2022 highlighted a 12% year-on-year surge in cyberattacks, with 48% of organizations reporting an assault in the preceding 12 months, up from 43% in the prior year, further accentuating the impetus behind the BYOD security market.

The surge in smartphone adoption is expected to significantly propel the BYOD security market. Smartphones, blending mobile phone functionalities with computing capabilities, necessitate robust BYOD security measures to protect sensitive data and systems from unauthorized access. As per Uswitch Limited's report in February 2023, active mobile connections surged to 71.8 million in 2022, marking a 3.8% increase from 2021. With a projected 68.3 million individuals residing in the UK by 2025, an estimated 95% (65 million) are anticipated to possess smartphones, underscoring the pivotal role of smartphone adoption in driving the growth trajectory of the BYOD security market.

Technological progressions stand out as a prominent trend gaining momentum within the BYOD security landscape. Companies within this realm are innovating advanced solutions to fortify their market presence. Notably, in August 2022, Seraphic, an Israel-based enterprise specializing in browser security solutions, introduced 'Security,' an Enterprise-Grade Browser Security Solution. This innovation caters to securing the hybrid workforce and business data, functioning seamlessly across browsers and devices. It ensures secure browsing and enforces company protocols across public sites, Software as a Service (SaaS), and internal corporate applications. As remote work proliferates and organizations increasingly leverage BYOD settings and web-based SaaS applications, the browser has emerged as a primary productivity tool for employees.

Prominent companies in the BYOD security sphere prioritize collaboration and partnerships to deliver reliable services to customers. Strategic partnerships, formalized through business agreements or contracts, represent a structured affiliation between two or more commercial enterprises. For instance, in October 2022, Traced Mobile Security partnered with METCLOUD, a UK-based cloud-centric cybersecurity platform, to bolster mobile threat defense for organizations grappling with BYOD security concerns. This collaboration offers businesses a comprehensive, privacy-centric solution geared towards enhancing mobile security, ensuring compliance, and safeguarding valuable data.

In November 2023, Palo Alto Networks Inc., a leading American cybersecurity firm, completed the acquisition of Talon Cyber Security for $650 million. This strategic move involves the incorporation of Talon's advanced cybersecurity solutions, specifically their secure third-party access and secure employee BYOD programs, into Palo Alto's Prisma SASE platform. Additionally, Palo Alto will integrate Talon's secure enterprise browser technology, enhancing the comprehensive security offerings within their portfolio.

Major companies operating in the byod security market report are Citrix Systems Inc., Trend Micro Inc., SAP SE, International Business Machines Corporation, VMware Inc., Cisco Systems, Hewlett Packard Enterprise, BlackBerry Limited, Broadcom Inc., Check Point Software Technologies Ltd., McAfee LLC, Symantec Corporation, Sophos Ltd., MobileIron Inc., Ivanti, Microsoft Corporation, Dell Technologies Inc., Fortinet Inc., F5 Networks Inc., Palo Alto Networks Inc., FireEye Inc., Proofpoint Inc., Zscaler Inc., Okta Inc., Duo Security Inc., OneLogin Inc., Centrify Corporation, Ping Identity Corporation, RSA Security LLC, AnyDesk Software GmbH, BeyondTrust Corporation, ConnectWise LLC, CyberArk Software Ltd., LogMeIn Inc., ManageEngine, SecureAuth Corporation, SolarWinds Worldwide LLC, Splashtop Inc., TeamViewer GmbH, Thycotic Software LLC.

North America was the largest region in the global BYOD security market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the byod security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the byod security market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary devices focused on in BYOD security include laptops, smartphones, and tablets. Smartphones denote mobile phones running an operating system allowing users to upgrade and install new software. They serve various purposes in mobile device management, application management, content management, and identity management, deployed in both on-premises and cloud settings. These devices cater to diverse user categories such as large corporations, small to medium-sized enterprises, and government entities.

The BYOD security market research report provides BYOD security market statistics, including BYOD security industry global market size, regional shares, competitors with a BYOD security market share, detailed BYOD security market segments, market trends and opportunities, and any further data you may need to thrive in the BYOD security industry. This BYOD security market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The BYOD security market includes revenues earned by providing services such as choose your own device (CYOD), company-owned, personally enabled (COPE) devices, company-owned, business-only (COBO), and related services such as passwords, zero trust policies, VPNs, and back-up devices. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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