Rising globalization, technological advancement, and surge in bring your own devices trend is driving the market for remote connectivity solution.
Market Size – USD 30.49 Million in 2019, Market Growth – CAGR of 11.2%, Market Trends – The surge in demand due to COVID-19 pandemic.
The global Remote Connectivity Solution market is forecast to reach USD 71.85 Billion by 2027, according to a new report by Reports and Data. The primary driver of the remote access market is the growing trend of BYOD or Bring Your Own Devices. The adoption of this trend in various enterprises, coupled with the increase in the number of tablets and smartphone users, has fueled the market growth.
The need for real-time computing and the increase in the demand for the connected devices have augmented market demand. However, certain factors, such as lack of even communication principles and the interfaces of other electromagnetic sources, is hampering the market growth. The developed regions provide more opportunities for growth as compared to the developing region owing to the growing application of IoT in the region. The U.S. and Canada are among the most advanced countries and are quick to adopt new technologies hence driving the demand for the market.
Key participants include Juniper Networks, Cisco Systems, Inc., Vmware, Inc., Citrix Systems, Inc., Fortinet, Sophos Ltd., Palo Alto Networks, Inc., Brocade Communication Systems, Inc., Symantec Corporation, and Netscreen Technologies, Inc. among others.
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The COVID-19 impact:
The demand for remote connectivity solutions has witnessed a surge with the increase in lockdown that the COVID-19 has resulted in. The need to be able to connect from a distance and still keep the operation going has become crucial for corporates as well as government sectors. The market will witness an increased demand after lockdown as enterprises will invest in research and innovative technologies that will limit human interaction and still keep them connected.
Firms across all sector worldwide are forced to follow ‘work from home’, as the government in various nations are trying implement this and curb spread of Covid-19 disease, along with their efforts to ascertain that their operations are disturbed to a minimum. The use of remote access technologies virtual private network (VPN) has witnessed a spiraling growth of around 33.0% since the outbreak of the COVID-19 pandemic. The market will continue to grow after the lockdown as more and more people will prefer to work remotely.
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Further key findings from the report suggest
Remote connectivity software can create a simpler option for accessing a single system remotely, but they tend to be less secure at their most basic level. However, business-level options do come with significant security improvements, though there can still be limited centralized control of employee login and remote access.
The software does come at an increased cost, as well, whereas direct remote access is typically free. Still, for smaller companies, these options can be quite helpful for intermittent work-from-home opportunities.
IPSec VPN offers a variety of benefits such as flexibility to communicate with legacy systems and the ability to access the entire subnets of a corporate network. It uses cryptographic security services to protect communications over Internet Protocol networks and supports network-level peer authentication, data integrity, data origin authentication, data confidentiality (encryption), and replay protection.
The growth of the Asia Pacific is attributed to the ubiquity of internet connectivity in the region as well as the increasing government initiatives for digitalization in the emerging countries such as India.
In April 2020, Google is launching a commercial zero-trust remote access service, which will allow companies to enable their work-from-home employees to access internal web-based applications without the help of virtual private networks (VPNs). Called BeyondCorp Remote Access, the subscription-based service will be part of Google Cloud’s portfolio and will cost USD 6 per user per month, but it will not require customers to already be users of Google’s existing cloud-based services or enterprise collaboration tools.
For the purpose of this report, Reports and Data have segmented the global Remote Connectivity Solution market on the basis of component, technology, organization size, industry vertical, and region:
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Component Outlook (Revenue, USD Billion; 2017-2027)
Technology Outlook (Revenue, USD Billion; 2017-2027)
Organization Size Outlook (Revenue, USD Billion; 2017-2027)
Industry Vertical Outlook (Revenue, USD Billion; 2017-2027)
IT and Telecommunications
Aerospace and Defense
Regional Outlook (Revenue, USD Billion; 2017-2027)
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