Global Workplace Transformation market is expected to expand at a CAGR of 17% during the review period from 2017 to 2023 and with a value of USD 22 billion. The rising demand for workplace transformation in the IT industry is due to reasons such as the rapid adoption of advanced technology, customization, and cost-effectiveness.
Modern technology in the IT industry has resulted in tremendous growth in the workplace transformation market 2020. The human resources and the IT department's technology in various enterprises are collaborating to provide a workspace that assures the flexible and seamless functioning of their daily business process. The organizations which have already introduced digital transformation in their workplace experience greater productivity and happy employees.
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The segmental insight into the workplace transformation market is conducted on the basis of organization size, service type, region, and end-user. Based on the vertical segment, the workplace transformation market comprises of healthcare & life sciences, media & entertainment, telecommunication BFSI, government, automotive retail, transportation & logistics, manufacturing, and IT and others. Based on the service type, the workplace transformation market consists of application management services, unified communication & collaboration services, asset management services, service desk, desktop virtualization, enterprise mobility & telecom services, field services, workplace upgrade & migration services, workplace automation services, and others. Based on the organization sizes, the workplace transformation market consists of small, medium size enterprises, and large enterprises. On the basis of regions, the workplace transformation market comprises of North America, Europe, Asia Pacific, and Rest of the regions.
Detailed Regional Analysis
The global workplace transformation market is analyzed in Europe, North America and the Asia Pacific and the Rest of the World (Row).
Europe is expected to defeat North America in the workplace transformation market. Asia Pacific is expected to be the fastest-growing during the review period. Europe's market is experiencing fast growth because of the modern technologies and rising demand for the digital workplace in the region. The U.S has acquired the maximum share of the market in the context of revenue as well as the adoption of modern solutions.
Among all, the North American market holds the maximum share for the workplace transformation market.
The Asia Pacific is projected to be the fastest-growing market due to the rising adoption of cloud-based solutions and establishing digital workplace services by large and small and medium enterprises. The other important factors affecting the growth of the APAC market are robust economic development, foreign direct investment, globalization, increased usage of mobile phones, and internet adoption in the workforce. China, South Korea, and Taiwan are estimated to affect the expansion of workplace transformation market due to the existence of established players like Infosys (India), NTT Data Corporation (Japan), Tata Consultancy Services (India), Wipro Ltd. (India).
The support of the administration in countries around the world is estimated to have a significant impact on the development of the market in the upcoming period. The revamping of distribution channels is also expected in the coming years with a particular focus on using robots for the logistic function on a larger scale than before. The market is in a condition of flux due to the rapid and severe changes in the global economy. The rebooting of manufacturing activities is another strategic aspect that is being emphasized to ensure that the supply of the end product can be reasonably ensured to the users in the market. The market players are taking the steps that are necessary to ensure that the market survives the turbulent period and emerge recovered in the future. The fortification of the human resource is estimated to be the critical point being addressed in these times of uncertainty.
The eminent contenders in the workplace transformation market are NTT Data Corporation (Japan), Unisys Corporation (U.S.), Cisco Systems, Inc. (U.S.), Accenture PLC (Ireland), Hewlett Packard Enterprise Development LP (HPE) (U.S.), Computer Sciences Corporation (CSC) (U.S.), Citrix Systems (U.S.), Capgemini (France), Atos (France), Infosys (India), Cognizant Technology Solutions Corporation (U.S.), IBM Corporation (U.S.), HCL Technologies Ltd. (India), Wipro Ltd. (India), Tata Consultancy Services (India), and Intel Corporation (U.S.) to name a few.
Apr 2020 Transurban, a toll road operator, has set up virtual desktops in AWS Workspaces for more than 850 staff, adding up a new facet to a workplace transformation in progress for the last two years. Transurban’s accelerated transition to distant work arrangements due to the COVID-19 pandemic has been identified as key to future work from home arrangements.
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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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