The global telecommuting market hit the $200 billion mark last year and is on pace to double that value by 2033, according to a new report from Market Research Intellect. It will enjoy a compound annual growth rate (CAGR) of 8.5% between next year and the end of the report period.
Telecommuting’s great strides are being driven by several parallel advances. A key is the near ubiquity of 5G networks. This enhances bandwidth, reduces latency, and provides smoother video conferencing. Other advances include edge computing and Wi-Fi 6.
The report also mentions virtual private networks and zero trust access frameworks that support telecommuting workers in a far wider variety of settings and more remote areas than in the past. Cloud networks are also expanding the areas where folks can live without relying on antiquated telecommunications tools and platforms.
A lot of this has to do with state and federal programs that have increased the area in which these advanced technologies are available.
“As connectivity infrastructure strengthens worldwide, telecommuting becomes more accessible, functional, and secure,” the report says. “These advancements enable remote work ecosystems that seamlessly integrate high-performance computing, virtual desktops, and distributed workforce models.”
The advanced telecommunications networks, which rely largely on fiber, are driving a parallel rise in advanced cybersecurity. The inherent danger is that sensitive and mission-critical data is being accessed in far more settings, many of which were not designed with security built in. Companies therefore are investing in endpoint protection, identity authentication protocols, encrypted communication channels, and zero-trust network architecture, the report says.
Companies are also using multi-factor authentication, biometric verification, and AI-driven threat detection. The report also says that cloud security monitoring tools aid telecommuting by evaluating traffic patterns in real time and automatically responding to issues that emerge. Regulatory compliance requirements are also tightening, pushing organizations to do more to protect employees and customers.
The catalyst clearly was the COVID-19 pandemic. It put the broadband industry into uncharted waters. The industry improvised in the short term and, later, built out networks and developed technology that created more stable and secure enterprise-level networks.
The pandemic also got people accustomed to working at home and largely disproved the old assumption that people working remotely would goof off and not be as productive as they are in the office.
