Market for bring your own device to increase to $181 billion in 2017

As manufacturers and other industrial sectors try to get ahead of the competition and reduce business costs, a new trend is persuading companies to change how they view efficient communications. Known as bring your own device (BYOD), this emerging tech policy is set to transform business operations by allowing employees to use their own personal mobile devices for work purposes. With the benefits of employees being able to communicate with managers and other workers out in the field while having access to important information on their devices at all times, it's no wonder why this trend is growing fast in popularity.

The market for BYOD is projected to grow at a compound annual growth rate of 15.17 percent between 2012 and 2017, according to a report by MarketsandMarkets. As more businesses incorporate BYOD into the workplace, the BYOD market will reach about $181 billion by 2017.

"The reason behind the market growth is that, enterprises are going mobile and they need to be in touch with their mobile workforce anytime anywhere," the MarketsandMarkets report said. "Companies are getting instant return in terms of visibility, time management, cost saving and positive work environment."

Benefits of using mobile and cloud solutions

In using personal mobile devices for work, BYOD is a cost-effective telecommunication solution for managers to reach out to workers and convey information in real-time. Branching out with enterprise mobility helps ensure productivity wherever workers are located because they can perform their duties and keep up-to-date whenever there is an Internet or mobile connection.

BYOD is also changing how manufacturers and other companies use their IT resources, according to ZDNet. One company that offers cloud software that could be used with mobile devices is helping companies better manage their inventory and other operations. Manufacturing software provider Exact Online has a program that allows companies to track their production, inventory and customer relationship processes in one system.

"There has been an upswing in domestic manufacturing, and we want to give these folks the ability to scale their capabilities," said Steve Leavitt, general manager of U.S. cloud solutions at Exact Online. "We also want to give them the ability to scale down when necessary."

The software gives companies a chance to reduce costs of manufacturing through more reliable and accurate quotes to give them a better idea of how to move their business forward.

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