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Cloud-Based Is Fastest Growing Segment Fueling The Growth Of Remote Access Solution Market

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Sumedha
Cloud-Based Is Fastest Growing Segment Fueling The Growth Of Remote Access Solution Market

The remote access solution market is estimated to be valued at US$ 20.91 Bn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market Overview:

A remote access solution provides secure remote access to company's network and resources for employees, partners and customers. It allows users to access files, applications, and computing resources that reside on a private network from outside locations through an Internet connection. Remote access solutions help improve workforce productivity by allowing employees to work remotely from anywhere, on any device. It enables organizations to support flexible workforce without compromising on security and compliance. With the changes in working pattern due to COVID-19 pandemic, demand for remote access solutions has increased significantly to support remote and hybrid working models.


Market Dynamics:

Growing popularity of remote and hybrid working models is a major growth driver for remote access solution market. During COVID-19 pandemic, majority of the organizations shifted to remote working and this trend is likely to continue even post pandemic. This has boosted the demand for remote access solutions from small and medium enterprises. Innovation in virtual desktop infrastructure (VDI) technology is another factor fueling the market growth. VDI provides users with full virtual desktop experience on any device with internet access. Increasing concerns around security of remote access is prompting organizations to adopt advanced secure solutions such as SSL VPN and zero trust network access (ZTNA) solutions. Rising spend on digital transformation by enterprises is also supporting the remote access solution adoption. However, data privacy and security challenges related to remote access may hinder the market growth.

 

SWOT Analysis


Strength: Remote Access Solution provides easy and secure access to enterprise applications from any location. It offers centralized management and control over all remote access connections. Remote access solution also helps in reducing operational costs by consolidating remote access infrastructure.


Weakness: Initial set up and deployment costs of remote access solution are high which can impact small and medium sized businesses. Complex configuration requirements and management of remote access solution requires IT expertise.


Opportunity: Growing trend of work from home and work flexibility offers significant growth opportunity for remote access solution providers. Increasing mobility of workforce is further driving the demand for secure remote access.


Threats: Security threats from unauthorized access and cyber-attacks are major challenges faced by remote access solution. Stringent regulations around data privacy and security also increases compliance requirements.


Key Takeaways:


The Global Remote Access Solution Market Share is expected to witness high growth, exhibiting CAGR of 13% over the forecast period, due to increasing adoption of Bring Your Own Device (BYOD) trend among organizations. Growing mobility of workforce coupled with need for flexible work schedules is majorly driving the demand for secure remote access solutions.


Regional analysis


North America region currently dominates the remote access solution market owing to rapid digital transformation of enterprises in countries like US and Canada. Asia Pacific is expected to witness fastest growth due to rising number of multinational companies in the region adopting remote working model. China, India and Japan contribute majorly to the revenue growth of remote access solution market in Asia Pacific region.


Key players


Key players operating in the remote access solution market are Microsoft, Cisco, Juniper Networks, VMware, Citrix Systems, Pulse Secure, Array Networks, F5 Networks, Barracuda Networks, Symantec, NetScreen Technologies, Check Point Software Technologies, SSL VPN Products, Sangfor Technologies, QNO Technology, H3C Technologies, Beijing NetentSec, LeadSec, DPWORK Technologies, Tianjin Yongxin Jiesheng Technology. The major players are focusing on new product development and partnerships with resellers to expand their global footprint.

Get More Insights Here

https://www.trendingwebwire.com/remote-access-solution-market-size-share-growth-outlook-2023/


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