The report forecasts the global BYOD security market to grow at a CAGR of 24.97% during the period 2016-2020.
To calculate the market size, the report takes into consideration the revenue generated from the sales of the following BYOD security solutions:
Mobile content management (MCM)
Mobile device management (MDM)
Mobile application management (MAM)
A trend boosting market growth is the increase in number of DDoS attacks. DoS is one of most common techniques used to steal confidential data. The increased use of mobile devices has led to an increase in access to critical information and the storage of data on mobile devices. So, the need for securing mobile devices is increasing. The increase in employee mobility and the rising adoption of the BYOD policy is leading to the increased use of mobile devices.
It is easy for hackers to gain access to mobile devices and unauthorized access to corporate networks, firewalls, and virtual private networks. This may lead to cases of fraud and misuse of critical corporate and business data. Enterprises are increasingly adopting BYOD security solutions to secure their networks from increasing security threats and to provide secure access to confidential information.
Further, the report states that one challenge that could hamper market growth is the lack of awareness about BYOD security among end-users.