Are you ready for another acronym to add to your arsenal? Hot on the heels of the “bring your own device” (BYOD) trend is this one: “bring your own cloud” (BYOC).

Once you get past the jargon, this is a whole new market that businesses large and small will need to assess. Mobile users are increasingly presented with the option to own their own personal storage or collaboration cloud outside of their enterprise.

So what is BYOC? It’s a trend in which people bring their own “personal clouds” to work; or when employees are empowered to use public or private third-party cloud services to help them perform certain jobs. In the corporate version, BYOC typically involves the stitching together of enterprise and consumer software, both in the cloud and on premise, to get the job done.

But integrating different cloud requirements brings a host of considerations: will the security (or, lack thereof) of one cloud affect another? Will data that you want to keep private stay private? How will segment-specific cloud models fit in? Will more open standards become required?

There have been several in-depth studies dine recently that analyses the landscape. And they have overwhelmingly found that the BYOD trend and increasing use of cloud mobile services will spur rapid growth in the use of mobile software-as-a-service (SaaS) products by small and medium-sized businesses (SMBs), predicts market research firm Strategy Analytics.

Our friends over at Fierce Mobile IT share these findings:

The BYOC/BYOD market, which includes firms with up to 250 employees, is forecast to increase at a 24.1 percent compound annual growth rate (CAGR), reaching $19.8 billion by 2017, up from $6.7 billion in 2012.

Andrew Brown, executive director of enterprise research at Strategy Analytics, observes: “SaaS continues to find traction and appeal in the SMB sector as cloud services lower the barrier to entry for cash-conscious organizations, allowing them to realize savings by outsourcing services and shifting funds from capex to opex.”

Bring-Your-Own-Cloud-480x330Regarding the corporate market, Brown notes: “Large enterprises, for the most part, have still been reluctant to adopt cloud BI and analytics solutions, especially on mobile devices, as these solutions continue to lack the best-of-breed capabilities found in premises-based solutions. However, as enterprises tackle new challenges around capturing, storing, and analyzing ‘big data,’ they are increasingly going to look at mobile cloud-based solutions.”

When an organisation chooses to implement BYOC, their decision affects every employee – and often customers – who use data within their company, from the IT to the front line marketing executives who need customer data analysis instantly. This is because most of us are already walking around with our own private clouds, to a great extent. Where we go with our mobile devices is where our personalised, cloud-based services follow. And wearable computing adds yet another dimension to BYOC.

For example, you probably have a variety of apps on your smartphone with your personal data – your banking information, your personal and professional social media data, etc. And with each day, the list grows greater every day that a new business and/or industry joins the app world.

How and where do enterprises draw the line with this data? And, as with BYOD, what additional security measures need to be considered, especially as employees will literally be wearing both business and personal data 24 hours a day, seven days a week?