Enterprise Mobility Market To Reach $285 bn In 2019

by CXOtoday News Desk    Apr 04, 2014

mobility

With more businesses using mobile solutions for better efficiency and customer experience (as well as to improve their ROI), a recent report published by MarketsandMarkets revealed that enterprise mobility market, triggered by bring your own device (BYOD) will grow from $72.34 Billion in 2013 to $285.0 billion in 2019, at a CAGR of 26.6% during the forecast period.

Boom Amidst Challenges

While enterprise mobility will undergo an unprecedented boom to become a necessity for businesses that aspire to lead and compete aggressively, the report also points out that organizations may find it difficult to adopt server-based resources or a secure IT infrastructure to keep pace with this rapid growth scenario. Nevertheless, the report notes that with software vendors in the BYOD market continuously innovating and remodeling their present architecture to build more proficient and advanced systems to allow workers to bring their own devices to work, the trend is here to stay.

MarketsandMarkets states that apart from key vendors in the BYOD and enterprise mobility market such as Alcatel-Lucent, Avaya, Cisco Systems, IBM and Hewlett-Packard, to name a few, many more vendors will join the fray with innovative and cost-effective solutions, intensifying the market competition further.

The major forces driving this market are cloud infrastructure adoption, reduced hardware cost for enterprises, emergence of mobile user workforce, increase in smart phone penetration, and persistent usage popularity among industry verticals, regions, and enterprises, points out the study.

“Emergence of mobile user workforce has indeed encouraged organizations to come up with effective strategies for adopting this technological model. Organizations across almost all the regions are widely accepting this concept, by encouraging employees to bring their own devices in order to improve productivity,” says the report.

Read: The Biggest Enterprise Mobility Blunders To Avoid In 2014

Regionwise…

In terms of regions, North America is expected to be the largest market in terms of market size, while EU and APAC are expected to experience an increase in market traction during the forecast period. APAC is expected to experience a higher growth rate and adoption trend in this market, it predicts.

Nasscom also observes in a report last year that even though North America is expected to remain the largest market, APAC would be the fastest growing market by geography growing at a CAGR of 21% from 2013-2019. Talking specifically about the Indian market, Som Mittal, President, Nasscom notes that organizations in India are quickly tapping the enterprise mobility opportunity, transforming business process strategies from an enterprise focus to a consumer focus.

The opportunity for service providers in the North American market lies in the development of enterprise application stores as well as BYOD and related solutions. The EU market will continue its demand for development of apps for smart phones and tablets while APAC will offer opportunities in developing vertical specific apps and integration of consumer and business apps, it says.

Both the reports reveal that the adoption of enterprise mobility services will be much higher in industries having a high level of customer transactions, such as the banking, insurance and retail. However, going forward, government, healthcare and media are expected to show significant adoption.