REMOTE ACCESS SOLUTION MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Market Challenges And Opportunities

Remote Access Solution Market Drivers:

• Rising Adoption of BYOD Policies Propels Market Growth: The rising popularity of bring-your-own-device (BYOD) policies in organizations is a key factor driving the growth of the remote access solution market. BYOD allows employees to use their personal devices, like laptops, tablets, and smartphones to access company data and applications. This approach enhances workflow flexibility, productivity, and job satisfaction. However, it also increases vulnerability to cyber threats if not managed properly. This is where remote access security becomes crucial. Solutions like virtual private networks (VPNs), virtual desktops, and cloud access software help secure BYOD programs. According to Global Workplace Analytics, 78% of companies currently allow BYOD in some form. As more organizations adopt flexible BYOD policies, the demand for securing remote access will consequently rise.
• Surging Cybercrime Warrants Advanced Remote Security: The growing threat of cybercrimes such as malware attacks, phishing, ransomware, and data breaches is compelling enterprises to ramp up their remote access security. Verizon’s 2021 Data Breach Investigations Report revealed that 85% of breaches involved a human element, indicating the need for robust access management. Attackers are exploiting vulnerabilities in outdated legacy architectures to gain unauthorized access to valuable company data. Remote access solutions like zero trust network access implement strict identity verification and multi-factor authentication to prevent breaches. The requirement for advanced protection against sophisticated cyber threats continues to propel market growth.
• Widespread Adoption of Cloud-based Solutions Stimulating Market Growth: The rapid adoption of cloud-based services like IaaS (infrastructure as a service), PaaS (platform as a service), and SaaS (software as a service) has led to a parallel rise in cloud-based remote access security solutions. Migrating to the cloud enables anytime, anywhere access for a distributed workforce. It provides superior flexibility and scalability. However, factors like data security risks, compliance issues, and a lack of control can inhibit cloud adoption. Robust cloud-based remote access solutions are vital for safeguarding cloud environments. For instance, cloud access security brokers (CASBs) monitor user activity and enforce security policies. The exponential growth in cloud computing and services is consequently driving the demand for associated remote access security solutions. For instance, in January 2022, Yokogawa Electric Corporation is a global company specializing in industrial automation, control, and measurement technology declared its plans to launch Collaborative Information Server (CI Server) R1.02 by March 2022. This upgraded version of CI Server, part of the OpreX™ Control and Safety System series, will be deployable on Yokogawa Cloud*1, the company’s cloud platform.
• Flexibility and Agility Essential for Business Continuity: The unprecedented disruptions caused by the COVID-19 pandemic highlighted the importance of having a flexible and agile remote access infrastructure. Restrictions compelled enterprises to transition to remote work models to ensure business continuity. This sudden shift only emphasized the need for securing access outside the traditional perimeter. Remote access solutions enabled organizations to adapt swiftly and provide quick, protected access to applications and networks. The growing requirement for flexibility and agility to withstand market uncertainties continues to stimulate the adoption of secure and reliable remote access solutions.

Remote Access Solution Market Opportunities:

• Immense Potential in Small and Medium Enterprises (SMEs): While large enterprises are steadily adopting remote access solutions, small and midsized businesses remain an untapped market segment with immense growth potential. SMEs face greater cyber risks due to limited security budgets and IT expertise. However, they recognize the significance of strengthening access security as they embrace remote work and cloud-based tools. Scalable and budget-friendly solutions tailored for SMBs can unlock a massive opportunity in this space. Collaborations with managed service providers allow solution vendors to deliver robust protection to SMEs. Overall, the underserved SMB sector represents a lucrative incremental growth avenue.
• Rapid Digital Transformation in Emerging Markets: Emerging economies like China, India, Brazil, and Mexico are undergoing rapid digital transformation. Technologies like cloud computing, mobility and virtualization are opening new growth avenues as companies modernize their IT infrastructure. This is creating substantial demand for securing remote access to data and networks. Global players are entering these markets through partnerships with local vendors. Moreover, various government initiatives like Digital India are propelling technology adoption and the need for associated security solutions. The ongoing digital revolution across high-potential emerging markets offers attractive expansion and diversification opportunities. For instance, in January 2023, Lexmark is a multinational company specializing in imaging and printing solutions collaborated with HARMAN International to jointly develop industrial IoT applications.
• Increasing Enterprise Investments in Digital Workplace Technologies: The remote work transition has compelled organizations to reimagine workplace technology with an emphasis on enabling secure collaboration and productivity. Companies are investing in solutions like enterprise mobility management (EMM), VDI (Virtual desktop infrastructure), SDP (software defined perimeter), virtual meeting tools and improved VPNs/VDIs to empower the digital workplace. Gartner is a leading global research and advisory company providing insights, analysis, and recommendations across various industries and sectors predicts that by 2024, 60% of enterprises will implement structured remote work policies. This will drive spending on digital workplace infrastructure, in turn fueling the growth of complementary remote access security solutions. Solution vendors can capitalize on this accelerated enterprise shift towards the digital workplace ecosystem.
• Rise of Remote and Mobile Workforce Expanding Addressable Market: The COVID-19 induced remote work trend is blurring geographic boundaries. Location is no longer a constraint as a larger share of workforce opts for remote models, even post-pandemic. This is expanding the addressable market for remote access security solutions. Furthermore, the workforce is becoming increasingly mobile, utilizing multiple devices across different locations. IDC (Institute for Development and Communication) predicts that by 2024, the mobile worker population will increase to 1.87 Billion. Catering to this growing, heterogeneous, and dispersed workforce will be critical. Solution providers can gain a competitive edge by delivering secure access optimized across devices and platforms. The rise of the mobile and geo-distributed workforce will continue to widen the scope of the remote access security market.