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Remote Connectivity Solution Market Size Projected To Reach USD 71.85 Billion at CAGR of 11.2%, By 2027

Reports And Data

Reports And Data

Remote Connectivity Solution Market Size – USD 30.49 Million in 2019, Market Growth - CAGR of 11.2%, The surge in demand due to COVID-19 pandemic.

NEW YORK, NY, UNITED STATES, December 21, 2021 / -- Rising globalization, technological advancement, and surge in bring your own devices trend is driving the market for remote connectivity solution.

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.

In September 2017, Qualcomm Technologies and Nokia collaborated for an over-the-air field trials and interoperability testing based on the 5G New Radio (NR) Release-15 specifications being developed by 3GPP. Both the companies aim to make mobile 5G a commercial reality based on standard-compliant 5G NR infrastructure and devices

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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.
• 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.
• 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.

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Segments covered in the report:

Component Outlook (Revenue, USD Billion; 2017-2027)

• Software
• Services
• Professional Services
• Managed Services

Technology Outlook (Revenue, USD Billion; 2017-2027)

• IPsec VPN
• Direct Access

Organization Size Outlook (Revenue, USD Billion; 2017-2027)

• SMEs
• Large Enterprises

Industry Vertical Outlook (Revenue, USD Billion; 2017-2027)

• Manufacturing
• IT and Telecommunications
• Healthcare
• Government
• Aerospace and Defense
• Others

On the basis of regional analysis, the market is segmented into key geographical regions such as North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. According to the analysis, North America is expected to dominate the market with the highest market share. Asia-Pacific is anticipated to show a significant growth rate owing to rising development and population demands.

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Thank you for reading our report. Reports and Data provides customization of the report as per the needs of the clients. For further inquiry on customization, please connect with us and our team will ensure the report is tailored to fit your requirements.

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Tushar Rajput
Reports and Data
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