Workplace transformation involves implementing strategies and technologies that improve employee productivity and engagement while reducing operational costs. The rising adoption of remote and hybrid working models during the pandemic has accelerated digital transformation at workplaces. Work tools that facilitate seamless collaboration between remote and on-site employees are seeing increased demand. Virtual conferencing solutions, team communication apps, and digital workspaces have become essential for businesses to function remotely.
The global Workplace Transformation Market is estimated to be valued at Us$ 632.3 Bn in 2023 and is expected to exhibit a CAGR Of 19% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing trend of remote working has been a major driver of the workplace transformation market over the recent past. According to a survey, about 71% of the workers expressed a strong preference for remote and hybrid working arrangements even after the end of the pandemic. This growing acceptance of remote and flexible work models has propelled businesses across sectors to overhaul their operations and invest substantially in digital workplace tools. Modern collaboration platforms, virtual conferencing solutions, activity-based workspaces, and intelligent building technologies have seen massive adoption to support hybrid workforces. Companies are actively implementing future-proof workplace strategies focused on employee experience to enhance productivity and talent retention in the new distributed working models. This ongoing remote work adoption is expected to significantly fuel the demand for workplace transformation solutions over the coming years.
Segment Analysis
The global workplace transformation market is primarily segmented into virtual reality, digital workplace, smart offices & services. Within virtual reality, wearables segment accounts for the largest market share and is expected to witness high growth during the forecast period. This is due to increasing adoption of AR/VR technologies among organizations to enhance various business functions such as training, communication and collaboration.
Key Takeaways
The Global Workplace Transformation Market Demand is expected to witness high growth during the forecast period of 2023 to 2030.
Regional analysis:
North America leads the global market and is expected to remain the highest revenue generating region throughout the forecast period. This is due to early adoption of advanced digital transformation technologies by leading organizations in the region to enhance workplace efficiency and productivity. Asia Pacific is expected to be the fastest growing regional market.
Key players analysis:
Key players operating in the workplace transformation market are KinectoRehab, Oculus Health, Basis VR, VirtaMed, Trice Imaging, MindMaze, and GestureTek Health. The market is dominated by large players who are investing heavily in advanced technologies like VR, AR and digital workspace solutions.
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According to new research report "Workplace Transformation Market by Type of Services (Enterprise Mobility & Telecom, Unified Communication & Collaboration, Workplace Upgrade & Migration, Field Services, and Service Desk), Organization Size, Vertical, and Region - Global Forecast to 2021", published by MarketsandMarkets™, the Workplace Transformation Market estimated to grow from USD 8.02 Billion in 2016 to USD 18.06 Billion by 2021, at a CAGR of 17.6% from 2016 to 2021.Ask for Report Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=260658536Increasing trend in the adoption of new technologies such as Bring Your Own Device (BYOD) and enterprise mobility by organizations, changing nature of workplace, and processes supported by organizational restructuring and reorganizing, reduction in operational expenditures and changing demographic factors are some of driving forces in the Workplace Transformation Market.Enterprise mobility and telecom services to play a key role in the Workplace Transformation Market by 2021The enterprise mobility and telecom service has the largest market share in the Workplace Transformation Market during the forecast period.
Some of the new market trends such as Bring Your Own Identity (BYOD), Carry Your Own Identity (CYOI), and mobile-first approach are also encouraging the organization to adopt enterprise mobility services.
Enterprise mobility & telecom services is a broad term, which comprises mobile device management, mobile application management, digital identity, mobility management services, mobile virtualization, mobility orchestration platform, telecom expense management, and telecom lifecycle management services.
These services help workforce to work securely while they are roaming, which increase their productivity, engagement, and collaboration across organization.Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=260658536Small and medium enterprises will dominant the Workplace Transformation Market by 2021Among organization size, the small & medium enterprises (SMEs) segment is expected to grow at the highest rate in the Workplace Transformation Market during the forecast period.
Digital workplace services bring many advantages to SMEs such as increases workforce productivity & business efficiency, mobilize desk-based operations, speed up time to market, cost efficient, and enhanced customer experience.Asia-Pacific (APAC) region is expected to grow at the highest rate in the Workplace Transformation MarketAPAC is expected to grow at the highest growth rate in the Workplace Transformation Market during the forecast period.
There are several factors driving the growth in APAC such as rapid economic development, globalization and foreign direct investment, increasing penetration of smartphone, and internet adoption in workforce.The major vendors in the Workplace Transformation Market are Accenture PLC (Ireland), NTT Data Corporation (Japan), Cisco Systems, Inc. (U.S.), Atos SE (France), Hewlett Packard Enterprise Development LP (HPE) (U.S.), Capgemini (France), Cognizant Technology Solutions Corporation (U.S.), HCL Technologies Ltd. (India), Citrix Systems (U.S.), Computer Sciences Corporation (CSC) (U.S.), Wipro Ltd. (India), Unisys Corporation (U.S.), IBM Corporation (U.S.), Tata Consultancy Services (India), Infosys Limited (India), and Intel Corporation (U.S.).About MarketsandMarkets™MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.
According to a new market research report "Workplace Transformation Market by Type of Services (Enterprise Mobility & Telecom, Unified Communication & Collaboration, Workplace Upgrade & Migration, Field Services, and Service Desk), Organization Size, Vertical, and Region - Global Forecast to 2021", published by MarketsandMarkets™, the workplace transformation market size estimated to grow from $8.02 Billion in 2016 to $18.06 Billion by 2021 at a CAGR of 17.6% from 2016 to 2021.Browse in-depth TOC on “Workplace Transformation Market”53- Tables 54- Figures 145- PagesDownload PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=260658536Increasing trend in the adoption of new technologies such as Bring Your Own Device (BYOD) and enterprise mobility by organizations, changing nature of workplace, and processes supported by organizational restructuring and reorganizing, reduction in operational expenditures and changing demographic factors are some of driving forces in the workplace transformation market.Enterprise mobility and telecom services to play a key role in the workplace transformation market by 2021The enterprise mobility and telecom service has the largest market share in the workplace transformation market during the forecast period.
Some of the new market trends such as Bring Your Own Identity (BYOD), Carry Your Own Identity (CYOI), and mobile-first approach are also encouraging the organization to adopt enterprise mobility services.
Enterprise mobility & telecom services is a broad term, which comprises mobile device management, mobile application management, digital identity, mobility management services, mobile virtualization, mobility orchestration platform, telecom expense management, and telecom lifecycle management services.
These services help workforce to work securely while they are roaming, which increase their productivity, engagement, and collaboration across organization.Small and medium enterprises will dominant the workplace transformation market by 2021Among organization size, the small & medium enterprises (SMEs) segment is expected to grow at the highest rate in the workplace transformation market during the forecast period.
Digital workplace services bring many advantages to SMEs such as increases workforce productivity & business efficiency, mobilize desk-based operations, speed up time to market, cost efficient, and enhanced customer experience.Asia-Pacific (APAC) region is expected to grow at the highest rate in the workplace transformation marketAPAC is expected to grow at the highest growth rate in the workplace transformation market during the forecast period.
There are several factors driving the growth in APAC such as rapid economic development, globalization and foreign direct investment, increasing penetration of smartphone, and internet adoption in workforce.Speak to Research Expert @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=260658536The major vendors in the workplace transformation market are Accenture PLC (Ireland), NTT Data Corporation (Japan), Cisco Systems, Inc. (U.S.), Atos SE (France), Hewlett Packard Enterprise Development LP (HPE) (U.S.), Capgemini (France), Cognizant Technology Solutions Corporation (U.S.), HCL Technologies Ltd. (India), Citrix Systems (U.S.), Computer Sciences Corporation (CSC) (U.S.), Wipro Ltd. (India), Unisys Corporation (U.S.), IBM Corporation (U.S.), Tata Consultancy Services (India), Infosys Limited (India), and Intel Corporation (U.S.).About MarketsandMarkets™MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.
