BlackBerry could revive and achieve “double” its current market cap if it continues to go down the right path, believes Global Equities Research analyst Trip Chowdhry. The Canadian smartphone maker unveiled its latest smartphone recently, with management saying they expect business users, specifically entrepreneurs, will be buyers of its smartphone, but the segment may be only a small part of the company’s focus.

BlackBerry Ltd Could 'Double' If It Focuses On The Right Segment

A massive opportunity

Chowdhry noted that total global IT spending stands at $4.5 trillion. Approximately 15% of that is contributed by federal agencies around the world, and of this, around 15% to 20% is spent on mobile, which is the market in which the Canadian company wants to make a mark.

“It cannot be all things to all people like Android is,” Chowdhry told Benzinga, referring to the kinds of devices federal agencies want to purchase.

The Waterloo, Ontario-based company unveiled the BlackBerry Leap, a five-inch, an all-touchscreen smartphone that will go on sale for $275 this spring. Additionally, BlackBerry teased three other new models lined up for 2015. BlackBerry has kept in mind the usage of business and government customers as it goes ahead with its turnaround efforts.

Apple, Google no threat to BlackBerry?

Talking about advantages for BlackBerry, Chowdhry says Android does not fit the security framework of federal agencies. “There’s no security in Android,” said Chowdhry. According to the analyst, it is all about exploitation, and Google does not have enough resources to create an entirely different standalone business that does not capture any personal information.

Talking about Apple, Chowdhry says even the iPhone maker does not have resources to do so. The analyst added that these companies are design firms and suitable for consumers and enterprises. But in security matters and the level of security needed to secure a president, he says they are “horrible.”

“But from a pure business, monetization perspective, the leader is BlackBerry,” said Chowdhary.

However, the analyst notes that Microsoft is the only company that could compete with the Canadian firm in the segment.

On Wednesday, BlackBerry shares closed down 1.14% at $10.84, and year to date, the stock is down by over 1%.