Digital Workplace Market to Register an Exceptional CAGR through 2028
Increasing adoption of
digital workplace solutions is a significant factor driving the growth of the
global digital workplace market in the forecast period of 2024-2028
According to TechSci research
report, “Digital Workplace Market
– Global Industry Size, Share, Trends, Competition, Opportunity and Forecast,
2018-2028F,” the global digital
workplace market is projected to expand in the coming years. Key factors anticipating
the growth of the global digital workplace market during the analysis period is
the increasing adoption of digital workplace solutions by businesses. Digital
transformation is used to align employees, business processes, and technologies
in the context of the digital workplace. It makes it possible for workers to
access their data and apps from any location and on any device. The term
digital workplace solutions refer to business mobility options that enable
users to work seamlessly across connected, virtual, and physical environments.
The creation of a user-centric environment is the main goal of workplace
digitization. Employees can use digital workplace solutions to select devices
that improve their working experience, which is expected to boost
organizational productivity.
Browse
over 26 market data figures spread through 110 pages and an in-depth TOC on "Global Digital Workplace Market”
The Global
Digital Workplace Market is segmented based on component, deployment,
organization size, end user industry, company, and region.
The market is segmented
into on-premises and cloud deployments based on deployment. Both cloud and
on-premises solutions are offered to customers by major market players. During
the forecast period, cloud based solutions are anticipated to have the fastest
rate of growth. According to the March 2021 study by ForgeRock, 80% of IT
decision-makers have already adopted, have expanded their use of, or plan to
adopt cloud-based solutions in the next two years. The increasing adoption of
cloud-based solutions by SMEs drives growth in this segment. The on-premises
segment is expected to grow steadily. cloud-based segment is
expected to increase due to increasing dependance on cloud-based services given
its benefits such as lower cost and easy scalability. Additionally, the work
from home trend has also been assisting in the growth of the global digital
workplace market.
Based on end
use industry the global digital workplace market is divided into BFSI, IT &
telecom, retail, healthcare, transportation & logistics, and others. The IT
& telecom segment is expected to lead in terms of revenue contribution to
the global digital workplace market during the forecast period because of rising
SaaS service adoption, remote working, and BYOD trends in IT & telecom
sector, which have led to rising implementation of the digital workplace in
that industry. The growing IT and telecom industries around the world, as well
as the growing need for efficient communication across all IT operations, are
key factors expected to drive the segment's revenue growth.
In terms of revenue, North
America dominated the market. Due to the growing adoption of technologies and
the presence of major market players in the region, North America dominated the
global digital workplace market in 2022. The major players in the global
digital workplace market are International Business Machines Corporation, Microsoft
Corporation, Citrix Systems, Inc., DXC Technology Company, VMware, Inc., Accenture
PLC, NTT Data Corporation, Tata Consultancy Services Limited, The Hewlett
Packard Enterprise Company, HCL Technologies Limited. To
remain competitive in the market, major corporations are creating advancements
in technologies and introducing new products. Mergers and acquisitions and the
creation of new products are two additional competitive strategies. Citrix
Systems Inc. launch a digital workplace solution in 2020 that unify and secure
SaaS, mobile, and virtual apps, and content across all endpoints.
Major
market players operating in the global digital workplace market are:
- International
Business Machines Corporation
- Microsoft
Corporation
- Citrix
Systems, Inc.
- DXC
Technology Company
- VMware,
Inc.
- Accenture
PLC
- NTT
Data Corporation
- Tata
Consultancy Services Limited
- The
Hewlett Packard Enterprise Company
- HCL
Technologies Limited
Some of the key developments and strategies adopted
by the key market players are:
- Trianz,
a provider of technology and services for digital transformation, and Workgrid
Software, company that offers intelligent digital workspace solutions, formed partnership
in December 2021 to create a modern workplace with a digital assistant. This works
with business applications and gives workers individualized, relevant
information and content. This partnership will help Trianz to provide a
cutting-edge workplace that is supported by intelligent automation, predictive
analytics, and enterprise social platforms to promote collaboration,
productivity, and career orientations.
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“Global Digital Workplace
market is expected to grow at a robust pace on account of technological
advancements. A digital workplace concept has become increasingly popular with
the rise of remote work and the availability of cloud-based software and other
digital tools. The goal of a digital workplace is to enhance productivity,
increase flexibility, and improve the overall work experience for employees,
are anticipated to propel the demand for Digital Workplace across the country over
the next five years.”, said Mr. Karan Chechi, research director with TechSci
research, a research-based global management consulting firm.
“Digital
Workplace Market – Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028, Segmented By Component (Solutions & Services), By
Deployment (On-premises, and Cloud), By Organization Size (SME, and Large
Organization) By End Use Industry (BFSI, IT & Telecom, Retail, Healthcare,
Transportation & Logistics and Others), and By Region”, has evaluated the future
growth potential of global digital workplace market and provides statistics
& information on market size, structure, and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in global digital workplace market.
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