New high-end features to boost the BYOD security market

Need for BYOD security & Trends 

Almost everyone in this working world possess a mobile device and a majority of them have used at least one device to get the work done in the enterprise. This may include taking quickly checking the email, taking notes while attending a call or just tuning their smartphone to check any urgent deliverables after they have left office. And reportedly, the application of these devices have contributed to enhancing the workplace productivity. 

A recent study from Wrike, a software company that pioneers in project management, conducted a survey of as many as 851 workers in the U.S. spanning across different business roles and industries to determine how the use of mobile devices affect productivity. 63 % of those surveyed reported using up to four apps to conduct their daily work, while 37 % reported using up to five or more apps. A large percentage of these devices are either personal devices or the devices they owned. This point to some interesting trends in bring-your-own-device (BYOD) security market. Tuning in to their personal devices by these employees may be simple enough but are they getting easy adoption across organizations considering the risk of complex security threats they pose to concerned IT departments.  The risks to enterprises are unique both in nature and complexity. These all considered by the IT departments while devising BYOD policy for their employees.

Security Breach & Weighing the Cost of BYOD policy 

The emerging BYOD trend has no doubt has transformed the workplace and led to the evolution of new business methods where we are constantly connected, whether in the workplace or away from it. A virtual workplace is fast evolving where applications, content, video conferencing, and the web can be easily combined into a visual work space, where anyone can create, edit, share, and store any business file from anywhere in the world. However, the enterprise implementation of BYOD security solutions has given rise to a debate which still continues. 
 
Most companies are prefer to provide mobile devices to their employees to conduct the business work, however companies that choose not to do so may not be necessarily saving any money or may be inviting more troubles with time as the IT analysts suggest. The cost of a security breach or loss of data can be very high: the gains accrued by not owning the device may be offset by the loss due to data breach. The loss is not only in terms of money but also can also extend to losing valued consumer and loss of reputations. But for various industries containing a large amount of highly confidential patient data, such as the healthcare industry, the cost can very high. Various IT vendors in collaboration with top technology companies are proactive in devising a well-integrated BYOD solution. Many of these solutions aim at maintaining "a fine balance between ensuring security and increasing usability”, boosting the BYOD security market. 

Market Growth Prospects

As per a report by Allied Market Research titled “World BYOD Security Market - Opportunities and Forecasts, 2013 – 2020”, mobile application management (MAM) solutions are expected to witness huge growth in the future owing to large numbers of employees using smartphones in the BYOD Security Market. However to prevent the data getting compromised with they are encouraged to use small and portable tablets. So tablet security software is expected to witness an increasing growth with 46.2% CAGR amid the forecast period 2014-2020. Based on geography, the North American region generates maximum revenue for global BYOD security market. Mobile device management (MDM), mobile application management (MAM), mobile identity management (MIM) and mobile content management (MCM) are other preferred solutions. 

Related Post