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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The information and communication technology sector is rapidly gaining traction owing to rapid technological advancements, high demand for smartphones, laptops, computers and other modern electronic devices, and increasing adoption of latest technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and cloud services. The ICT sector consists of several sections, software, hardware, telecommunications and other services. Factors such as increasing demand for advanced ICT services in BFSI, agriculture, retail, hospital and healthcare, rapid adoption of digitalization, rising number of internet users and high demand of advanced services and devices are expected to drive global market revenue growth during the forecast period. Other factors such as increasing need for managing large data base, rising concerns about data security and increasing investments in RD activities are expected to boost market growth during the forecast period.
Competitive Landscape:
This collaboration is a significant milestone for the remote connectivity solution market as it is expected to lead to the development of high-speed, reliable, and secure remote access solutions. The implementation of 5G technology will enable faster data transfer speeds, lower latency, and higher bandwidth, making it possible to connect more devices than ever before. This will further enhance the growth potential of the remote access market.
In addition to the collaboration between Qualcomm Technologies and Nokia, other major players in the market 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. These companies are continuously investing in research and development to enhance their remote access solutions and expand their market presence.
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The global market is further segmented into type and application:
Component Outlook (Revenue, USD Billion; 2017-2027)
- Software
- Services
- Professional Services
- Managed Services
Technology Outlook (Revenue, USD Billion; 2017-2027)
- IPsec VPN
- Direct Access
- SSL VPN
Organization Size Outlook (Revenue, USD Billion; 2017-2027)
- SMEs
- Large Enterprises
Industry Vertical Outlook (Revenue, USD Billion; 2017-2027)
- Manufacturing
- BFSI
- IT and Telecommunications
- Healthcare
- Government
- Aerospace and Defense
- Others
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Overall, the remote connectivity solution market is expected to continue to grow in the coming years, driven by the increasing trend of BYOD, the growing demand for real-time computing, and the adoption of IoT. The implementation of 5G technology is also expected to be a significant driver of market growth, as it will enable faster and more reliable remote access solutions.
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