by Remote access solutions allow users to access corporate resources and systems remotely. These solutions allow employees to access internal business applications, documents, virtual desktops, and more from any device at any location. Common examples of remote access solutions include virtual private networks (VPNs), cloud-based solutions, and remote desktop protocol (RDP) software. With the rise of remote work and flexibility due to pandemic, demand for remote access solutions surged significantly among organizations. Remote access solutions allow organizations to stay productive and maintain business continuity without physical presence of employees at the workplace.
The global remote access solution market is estimated to be valued at US$ 20.91 Bn in 2023 and is expected to exhibit a CAGR of 3.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The rising demand for remote work is one of the key drivers for growth of remote access solution market. During the pandemic, majority of organizations had to adopt work from home model which significantly increased demand for remote access solutions to allow employees securely access the organizational network. As many organizations plan to continue hybrid or full remote work even post pandemic, demand for such solutions is expected to remain high. Additionally, increasing inclination towards digital transformation among organizations is another major driver as remote access solutions are integral part of digital initiatives. Many organizations are leveraging such solutions to enable remote workforce, integrate cloud applications and offer flexible working environment to employees.
However, security and privacy concerns associated with remote access poses a challenge. As remote access solutions expand the attack surface, organizations face increased risks of cyber threats like data breaches and ransomware attacks. Ensuring security of confidential data accessed remotely is a key consideration for organizations considering such solutions. Vendors are focusing on offering enhanced security features like multi-factor authentication, encryption and advanced threat protection capabilities to address these concerns and boost adoption of remote access solutions.
Segment Analysis
Remote Access Solution can be segmented into remote desktop services, remote application services, and collaboration suites. Remote desktop services dominate the market and are expected to continue their dominance over the forecast period. Remote desktop services allow remote access and control of a computer from a client device and are helpful in securely connecting and accessing office desktops remotely.
PEST Analysis
Political: Data protection laws and regulations across countries continue to evolve requiring remote access solution providers to develop compliant products.
Economic: Increasing adoption of work from anywhere models and digital transformation initiatives across industries are driving demand for remote access solutions.
Social: Younger demographics are more comfortable with remote and flexible working arrangements driving demand. Additionally, remote working helps in diversity and inclusion.
Technological: Advancements in cloud computing, networking technologies, and security protocols have enabled secure and frictionless remote access experiences. Increased focus on zero trust security architectures.
Key Takeaways
The Global Remote Access Solution Market Size is expected to witness high over the forecast period of 2023 to 2030. The global remote access solution market is estimated to be valued at US$ 20.91 Bn in 2023 and is expected to exhibit a CAGR of 3.9% over the forecast period 2023 to 2030.’
North America currently dominates the market due to high technology adoption. Europe is expected to see fastest growth over the forecast period due to initiatives promoting flexible work.
Key players operating in the remote access solution market are Gilead Sciences, ViiV Healthcare, Merck & Co., Inc., GlaxoSmithKline PLC, Bristol-Myers Squibb Company, Johnson & Johnson, AbbVie Inc., Janssen, Pharmaceuticals, Inc., Theratechnologies Inc., Shionogi & Co., Ltd. Key players are focused on product innovation and partnerships to strengthen their market position. For instance, AbbVie partnered with Theratechnologies to strengthen commercialization of Trogarzo in Europe.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
