Large organizations are embracing flexible work policies and remote teams are becoming the new normal. This has accelerated the demand for remote access solutions that allow seamless connectivity between enterprise networks and remote users. Remote access solutions provide secure connections to enterprise applications, servers, and other resources through VPN or dedicated connections. They ensure business continuity even when employees are not physically present in offices. Remote access solutions deliver virtual private networks, authentication, authorization and accounting, endpoint security and single sign-on capabilities. They play a vital role in digital transformation by supporting hybrid work models.
The global Remote Access Solution Market is estimated to be valued at US$ 20.91 Billion 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 key trends:
One of the key trends driving the remote access solution market growth is the growing popularity of cloud-based and SaaS delivery models. Vendors are increasingly offering their remote access solutions in the cloud to make them more scalable, flexible and cost-effective for businesses of all sizes. Cloud deployment eliminates the burden of on-premise hardware, regular software updates and maintenance. It allows enterprises to access remote connectivity Services from anywhere using an internet connection. This is boosting the adoption of cloud-based remote access among price-sensitive small and medium enterprises.
Porter’s Analysis
Threat of new entrants: Low capital requirement for software based solutions and availability of open source platforms poses moderate threat of new entrants in the remote access solution market.
Bargaining power of buyers: Large buyers have significant bargaining power due to availability of various vendors providing remote access solutions.
Bargaining power of suppliers: Leading technology providers like Microsoft, Cisco etc. enjoy high bargaining power being major suppliers of remote connectivity solutions.
Threat of new substitutes: Rise of advanced technologies like blockchain, AI and VR based solutions pose minimal threat currently to mainstream remote access solutions.
Competitive rivalry: Intense competition exists among established remote access software vendors to capture additional market share through development of new features and competitive pricing.
Key Takeaways
The Global Remote Access Solution Market Growth is expected to witness high. The global Remote Access Solution Market is estimated to be valued at US$ 20.91 Billion in 2023 and is expected to exhibit a CAGR of 3.9% over the forecast period 2023 to 2030.
The market in North America is expected to dominate the global market owing to strong technology adoption and growing remote workforce in the region. Asia Pacific market is expected to grow at fastest pace during the forecast period supported by development of digital infrastructure and increasing number of SMEs in emerging countries of the region.
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. Remote access solution providers are focused on developing advanced security features and multi-platform compatibility to expand their client base. Partnerships with telecom operators and collaboration with other technology providers are also among the key strategies adopted by leading market players.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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