Managed Services Poised for Rapid Growth in Remote Work Security, Offering Proactive Expertise in Safeguarding Digital Assets

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Nov 10, 2023, 17:30 ET

DUBLIN, Nov. 10, 2023 /PRNewswire/ -- The "Remote Work Security Market by Offering (Solutions and Services), Security Type (Endpoint & IoT, Network, Cloud), Remote Work Model (Fully, Hybrid, Temporary), Vertical (BFSI, Retail & eCommerce, IT & ITeS) and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

The Remote work security market is estimated at USD 51.7 billion in 2023 to USD 136.0 billion by 2028 at a CAGR of 21.3% from 2023 to 2028.

The rise in cybersecurity threats is a major driver of the remote work security market. Cybercriminals have identified vulnerabilities in these setups with the growing reliance on remote work. They exploit these weaknesses through ransomware attacks, data breaches, and phishing schemes, often targeting remote employees with less secure home networks and devices than those in office settings.

These cyberattacks can result in severe consequences, including financial losses, company reputation harm, and regulatory fines. Consequently, organizations are under pressure to invest in advanced security solutions capable of identifying, preventing, and responding to these evolving threats. This entails implementing strong endpoint security measures, regular employee training in cybersecurity best practices, and adopting state-of-the-art threat intelligence and analysis tools to outmaneuver cybercriminals.

IT & ITeS vertical to contribute the largest market share in the remote work security market during the forecast period.

IT & ITeS companies handle vast amounts of sensitive client data and proprietary information, making them attractive targets for cyber threats. To maintain the trust of clients and partners, IT & ITeS firms must establish stringent remote work security measures. This includes ensuring remote employees have secure access to the necessary systems and data, implementing robust data encryption and privacy protocols, and continuously monitoring for potential security breaches. Furthermore, compliance with industry-specific regulations and data protection standards is critical to remote work security for IT & ITeS organizations.

The managed services are expected to register the fastest growth rate during the forecast period.

Managed services enhance remote work security by offering organizations expert assistance safeguarding their dispersed workforces and digital assets. MSPs deliver a spectrum of security services, including threat detection, incident response, security monitoring, and ongoing cybersecurity management. By partnering with MSPs, businesses can access dedicated security expertise, round-the-clock monitoring, and the latest threat intelligence to identify and mitigate security risks in remote work environments proactively.

MSPs also ensure the proper configuration and management of security solutions, such as firewalls, antivirus, and VPNs, while continuously updating and patching systems to defend against emerging threats. This collaborative approach helps organizations adapt to evolving threats, maintain compliance, and foster a secure and productive remote work environment.

Asia Pacific to register the highest growth rate during the forecast period.

The Asia Pacific countries are grappling with the increasing need for security spending as they face a growing threat landscape. The region encompasses dynamic economies like China, Japan, and India, where effective government regulations and technological advancements pave the way for substantial growth in remote work security. APAC's remote work security market is on the rise, driven by the rapid adoption of remote work, cloud technologies, and the imperative to enhance security in remote work setups.

The COVID-19 pandemic acted as a catalyst, forcing organizations to invest heavily in security control systems to protect remote employees. Additionally, the region faced a surge in highly sophisticated cyberattacks targeting critical infrastructure and government entities, further compelling organizations to fortify their investments in remote work security technologies.

Premium Insights

Increasing Adoption of Remote Work and Rising Rates of Cybercrime to Drive Market
Solutions Segment and US to Account for Significant Share in 2023
Solutions Segment and China to Account for Significant Share in 2023

Market Dynamics

Drivers

Rising Adoption of Remote Work
Increasing Cases of Cybercrime
Growing Demand for Cloud-Based Security Solutions

Restraints

Low Readiness to Adopt Advanced Solutions
Lack of Awareness Regarding Remote Work Security Risks
Challenges in Managing Remote Devices and Networks

Opportunities

Growth of Cloud Computing Market
Increasing Demand for Mobile Security Solutions
Rise of Internet of Things (Iot)

Challenges

Diverse Range of Devices and Networks Used by Remote Workers
Development of New Methods to Breach Data
Increasing Phishing and Other Social Engineering Attacks

Companies Mentioned

Axis Security
Broadcom
Check Point
Cisco
Citrix
Cloudflare
Crowdstrike
Cyberark
Cynet Security
Eset
Forcepoint
Fortinet
IBM
Issquared
Microsoft
Openvpn
Palo Alto Networks
Proofpoint
Revbits
Seclore
Securden
Security Onion
Sentinelone
Sophos
Trend Micro
Venn
Vmware
Wallarm
Zscaler

For more information about this report visit https://www.researchandmarkets.com/r/1g7lij

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