Remote Working Software Market to Reach $42.7 Billion, Globally, by 2032 at 7.1% CAGR: Allied Market Research

News provided byAllied Market Research 

Sep 17, 2024, 02:01 ET

Rise in adoption of cloud computing and the push towards digital transformation have influenced the remote working software market. Cloud-based remote desktop solutions offer benefits such as scalability, accessibility, and reduced IT infrastructure costs. Organizations are migrating their systems and services to the cloud, and remote working software that integrates well with cloud environments provides a competitive advantage. 

NEW CASTLE, Del., Sept. 17, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “Remote Working Software Market by Component (Solution and Services), Deployment Mode (On-premise and Cloud), Type (Time and Attendance Software, Communication and Collaboration Software, Measuring and Monitoring Productivity Software, Project Management Software and Others), Enterprise Size (Large Enterprises and Small and Medium Enterprises), and End-User (BFSI, Healthcare, IT & Telecom, Government, Manufacturing, Education and Others): Global Opportunity Analysis and Industry Forecast, 2024-2032″. According to the report, the remote working software market was valued at $22.5 billion in 2023 and is estimated to reach $42.7 billion by 2032, growing at a CAGR of 7.1% from 2024 to 2032.

Prime determinants of growth 

The increasing adoption of cloud computing and the push towards digital transformation have influenced the remote working software market. Cloud-based remote desktop solutions offer benefits such as scalability, accessibility, and reduced IT infrastructure costs. Organizations are migrating their systems and services to the cloud, and remote desktop software that integrates well with cloud environments provides a competitive advantage. With the rise in remote work, cybersecurity and data privacy have become paramount concerns. Remote desktop software plays a crucial role in ensuring secure remote access to company networks and sensitive data. Organizations are investing in remote desktop solutions that offer strong encryption, multi-factor authentication, and other security features to safeguard their digital assets. The increasing emphasis on compliance with data protection regulations has further driven the demand for secure remote desktop software. 

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The services segment is expected to dominate the market during the forecast period.

By component, the services segment is projected to attain the highest CAGR from 2024 to 2032. This growth is driven by several key factors such as increasing adoption of hybrid model works and increased investment in IT infrastructure and support. 

The cloud segment is expected to dominate the market during the forecast period.

By deployment, the cloud segment is projected to attain the highest CAGR from 2024 to 2032. This growth is driven by several key factors that make cloud-based remote working solutions increasingly attractive to businesses of all sizes. 

The measuring and monitoring productivity software segment is expected to dominate the market during the forecast period.

By type, the measuring and monitoring productivity software segment is projected to attain the highest CAGR from 2024 to 2032, due to the increasing focus on maintaining and enhancing employee productivity in remote work settings. Organizations are investing in advanced analytics and monitoring tools to gain insights into work patterns and ensure efficient performance management. 

The small medium enterprises segment is expected to dominate the market during the forecast period.

By organization size, the small-medium enterprise segment is projected to attain the highest CAGR from 2024 to 2032. This anticipated growth can be attributed to several key factors that make remote working solutions particularly appealing and necessary for SMEs. 

The IT & telecom is expected to dominate the market during the forecast period.

By end-user, the IT & telecom segment is projected to attain the highest CAGR from 2024 to 2032, owing to an increase in the acceptance of cloud-based solutions as well as acceptance of the product in the IT & telecom segment. 

Asia-Pacific to maintain its dominance by 2032

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2023, accounting for three-fourths of the global remote working software market revenue and is expected to rule the roost in terms of revenue during the forecast timeframe. With the rising footprint of work-from-home culture across the U.S. and Canada, leading players could further investments in remote desktop software solutions. 

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Major Industry Players: – 

• Microsoft Corporation, 
• IBM Corporation, 
• Slack Technologies, LLC,  
• ClickMeeting,  
• Alludo,  
• TeamViewer GmbH,  
• eramind Inc.,  
• Veriato Inc,
• Workpuls, Inc, 
• Parasol Software Trading L.L.C.
• NEOGOV,
• Veriato Inc,
• Birch Grove Software, Inc 

The report provides a detailed analysis of these key players in the global remote working software market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

• In November 2023, IKEA launched three new budget-friendly smart sensors, such as VALLHORN, PARASOLL, and BADRING, which distinguish water spillage and motion. These sensors are pointed toward giving clients more control and peace of mind, empowering them to remain connected with their homes in any event, when they are not there. 
• In October 2023, Leostream, a remote work area access seller, launched another partner program focusing on VMware MSPs. These advancements at Citrix and VMware have created uncertainty in the remote desktop market, giving an open door to Leostream. The President, Karen Gondoly, referenced in a meeting with CRN that Broadcom’s securing of VMware has ignited interest in Leostream’s utilization case as an expense-saving option in contrast to VMware’s Horizon commercial desktop. Leostream, situated in Boston, plans to profit from this valuable chance to grow its market presence. 
• In March 2022, the U.S.-based computer software company IDrive Inc. offered the cloud-based and on-premise remote desktop program RemotePC. Businesses can use RemotePC to send files, manage applications across several remote machines, and interact with customers. It includes advanced features including role-based permissions, live video sharing with augmented reality capabilities, multiple users, session recording, and video conferencing. 

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