Market Highlights
Workplaces are changing their environment to suit the comfort and convenience of employees. The trend of bring-your-own-devices (BYOD) and remote working has brought a turnaround to enhance the mood of employees. According to Market Research Future (MRFR), the global workplace transformation market is expected to expand at 17% CAGR from 2017 to 2023 to touch a value of USD 22 billion.
Primary Drivers and Top Barriers
Over the years, the global market for workplace transformation has noted remarkable growth, thanks to the rising use of enterprise workflow management as well as technological advancements within the IT industry. The IT and human resources departments in several organizations have joined hands to give rise to a workspace environment that boasts of flexible and smooth functioning of business processes. Various business organizations have come up with digital transformation in the workplace, which boosts employee satisfaction as well as productivity.
Renowned technology vendors like NTT Data Corporation (Japan), Accenture PLC (Ireland), Atos (France), Cisco Systems, Inc. (U.S.), Hewlett Packard Enterprise Development LP (HPE) (U.S.) are working on different marketing hacks that can fetch them a better position across the globe. Among them, Accenture PLC is a highly regarded vendor in the market with expertise in services like automatic software upgrades, virtual desktop capabilities, self-service support options as well as collaboration tools. These services offer a high-quality operating ability to distributed platforms, in addition to providing services for standardized and pre-tested configurations that cater to the need of multiple workers. They also help clients in migrating to advanced and modern operating systems and software.
The workplace transformation market is gaining high traction across the globe on the back of rising adoption of the latest technologies like Bring Your Own Device (BYOD) as well as enterprise mobility solution & service. Evolving nature of workplace, processes backed by organizational restructuring and reorganizing, declining operational expenditures along with the changing demographic factors also stimulate market growth.
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Segmentation:
The global workplace transformation market is segmented by service type, organization size, and end-user.
By service type, it is segmented into telecom services, unified communication, and enterprise mobility. Enterprise mobility is expected to be the biggest segment in the market due to the trend of BYOD among employees. On the other hand, unified communications can gain a large market share due to being a secure medium for collaboration by teams for projects. Benefits of unified communications applications can enhance efficiency and allow for greater mobility among businesses.
By organization size, it is segmented into small, medium size, and large enterprise. Small and medium size enterprises can exhibit the highest growth rate due to adoption of digitization by these organizations to grow rapidly. Enhanced work productivity, mobilization of desk jobs, faster speed-to-market, and prioritization of customer experience are factors which can push the segment growth.
By end-user, it is segmented into BFSI, healthcare & life sciences, and government. The BFSI sector can contribute the maximum to the workplace transformation market due to digitization of data and adoption of enterprise mobility services.
Regional Analysis
The workplace transformation market is geographically segmented into Asia Pacific (APAC), Europe, North America, and the Rest of the World (RoW).
North America is the leading market for workplace transformation. The market in the region is strongly backed by the mounting demand for mobility solutions, given the rapid surge in the adoption of cloud-based solutions and smartphones. Also, most of the enterprises in the region are using cloud-based solutions as well as digital workplace services which benefits the market.
APAC can note the fastest growth rate in the global workplace transformation market in the given timeframe. A vast number of companies in the region are increasingly adopting bring your own device (BYOD) as well as cloud-based technology due to high acceptance of digital workplace services among enterprises. APAC has emerged as a strong region in the market due to rapid economic growth, globalization along with foreign direct investment, high number of smartphone users, and surging adoption of internet in workforce.
Prominent Vendors
The prominent companies influencing the size of the global workplace transformation market are Cognizant Technology Solutions Corporation (U.S.), Infosys (India), Atos (France), Hewlett Packard Enterprise Development LP (HPE) (U.S.), Tata Consultancy Services (India), Accenture PLC (Ireland), Cisco Systems, Inc. (U.S.), HCL Technologies Ltd. (India), Citrix Systems (U.S.), Capgemini (France), Wipro Ltd. (India), Unisys Corporation (U.S.), IBM Corporation (U.S.), Computer Sciences Corporation (CSC) (U.S.), Intel Corporation (U.S.), NTT Data Corporation (Japan), to mention a few.
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Workplace Transformation Market: by Service Type (Enterprise Mobility, Telecom Services, Unified Communication) Organization Size (Small, Medium Size & Large Enterprises) End-User (BFSI, Government, Healthcare & Life Sciences) – Global Forecast till 2023
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