The growing Bring Your Own Device (BYOD) trend at the workplace is posing a considerable security threat to the enterprises. The wearable device security solution market is expected to reach $13,682.9 million by 2022.
Global market research and consulting organization, has published a study titled “Worldwide Wearable Device Security Market: Drivers, Opportunities, Trends, and Forecasts, 2016–2022” (July 2016).
According to Publisher, the healthcare industry will continue to dominate the worldwide device security market. As per the study, the market will experience a significant growth in the coming years due to the increase in the government investments, rise in the wearable device users and growing demand for health and fitness wearables across the globe. The market is expected to grow at a CAGR of 51.4% during the period 2016–2022 to touch an aggregate of $35.70 billion by 2022.
The wearable device market will be driven by the end-users such as healthcare, sports, and BFSI. The healthcare market, by security types, is expected to reach $11,441.1 million by 2022. At present, Americas is leading the overall wearable device security market followed by Asia Pacific. The healthcare, BFSI and fitness industries are supporting the growth of the wearable device security market in Americas. The Americas’ wireless security market is expected to reach $4,870.4 million by 2022.
“The rise in the enterprise-focused wearable apps has made the handling of the workload at ease. However, increased risk of breaches in parallel with sensitive data is now easily transferred from one wearable to the other. Organizations should be prepared with security policies for ensuring data safety. Wearable device security solutions provide a profitable opportunity to modern enterprises to improve their workflow, resource management, and enhance communications efficiently.” – Tariq Ahmed. Shaik, Research Manager at Publisher
“The growing number of wearable device users at the workplace is leading towards a potential threat to the enterprise data security. With the wearable device, it is bit easy to enter the enterprise wireless network and tamper the data. Even from the consumer perspective, security of the wearable devices is a key concern, as user’s information can be easily stolen by entering into the device through the short-range technologies such as Bluetooth. Hence, this market offers a huge growth opportunity for the data security providers.” – Komal Sharma, Senior Research Analyst at Publisher
The report aims to highlight key insights from providers and end-users. The report provides an in-depth analysis and forecast about the industry covering the following key features:
- This report not only highlights users’ conundrum (challenges and barriers to adopting wearable device security market) but also brings in their perspective on the market. This market has been analyzed by taking into account the key regions – Americas, Western Europe, Asia Pacific, and EEMEA
- The report analyzes the market according to the devices, security types, solutions and end-users
- The report analyzes the top 15 players in terms of market reach, business strategy, and business focus
- Competitive benchmarking analysis to optimize short term and long term strategy of the organizations
- Stakeholders’ insights and key trends (current and future) of the market
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