According to a new report shared Thursday with Mobile Marketing Watch, the global BYOD market is expected to top 238 billion by 2020.
The study, conducted by Grand View Research, shows that the growing proliferation of smartphones and tablets coupled with the preference to use a single device is expected to fuel market growth over the next six years.
Grand View Research also observes that reduction in OpEx and CapEx is expected to drive BYOD adoption across enterprises.
“Concerns regarding theft of the mobile device and safety of classified data are key challenges for enterprises implementing BYOD,” the report summary reads. “Solutions such as mobile device management (MDM) and mobile application and content management have been employed by organizations in order to maintain security and management of data.”
The report “Bring Your Own Device (BYOD) Market Analysis And Segment Forecasts To 2020,” is available now to Grand View Research customers. However, a sample of the report can be requested here.