Remote work security market to reach $136Bn by 2028
ILLINOIS, UNITED STATES — The remote work security market is projected to reach $136 billion by 2028, according to a new report by management consulting firm MarketsandMarkets.
This represents substantial growth from $51.7 billion in 2023, with an expected compound annual growth rate (CAGR) of 21.3% over the 2023-2028 period.
Remote work security provides tools like secure access, endpoint protection, multi-factor authentication, encrypted communication, and endpoint detection/response. These solutions safeguard confidential data and ensure productivity and wellbeing.
With the growth of remote work, demand for security solutions will continue expanding exponentially, making this a vital investment area for organizations globally. Remote work provides benefits like flexibility, cost savings, and global talent access.
Network security is the largest market segment, enabling secure communication and data transfer for remote employees through technologies like virtual private networks (VPNs), firewalls, and intrusion detection/prevention systems.
Asia Pacific is forecast to see the highest CAGR, driven by heightened security spending, regulations, and remote work uptake. The retail and e-commerce sector will also exhibit high growth, focusing on customer data protection and compliance.
Key players in the remote work security market include Cisco, VMware, Palo Alto Networks, and Microsoft.
The COVID-19 pandemic accelerated the adoption of remote work, reshaping traditional work dynamics. Over half of security decision-makers foresee a future dominated by fully remote or hybrid work models.
