Workplace Transformation Market by Service (Enterprise Mobility & Telecom Services, Unified Communication & Collaboration Services, Application Management Services, Workplace Automation Services, Workplace Upgradation & Migration Services, Desktop Virtualization, Asset Management Services, Field Services, Service Desk), by Organization Size (Large Enterprises, Small & Medium Enterprises) by Industry (Banking, Financial Services, & Insurance, Government, Healthcare & Life Sciences, Manufacturing & Automotive, Retail, Transportation & Logistics, Media & Entertainment, Telecom & Information Technology), by Geography (U.S., Canada, Russia, France, Germany, Japan, China, India, Brazil and Saudi Arabia) – Global Market Size, Share, Development, Growth, and Demand Forecast, 2013–2023

Market Outlook

The workplace transformation market revenue stood at $9.2 billion in 2017, and it is expected to progress at a CAGR of 17.5% during 2018–2023. The growth can be attributed to the changing workforce dynamics, rising penetration of the bring-your-own-device (BYOD) policy, and increasing adoption of enterprise mobility services.

In 2017, the enterprise mobility and telecom services category held the largest share in the market for workplace transformation solutions, under the service segment. This was because these services provide uninterrupted operations from any location and improve the overall efficiency and productivity of the organization.

The banking, financial services, and insurance (BFSI) category, within the industry segment, accounted for the largest market share in 2017 due to the mounting need for improving the efficiency and productivity of employees in this sector. Traditional bankers and insurance providers are rethinking their digital strategies to gain a competitive edge, owing to the influx of new digital-first firms.

Geographically, North America held the leading position in 2017, primarily on account of the technological advancements, hefty information technology (IT) expenditure, and presence of an umpteen number of large enterprises. Besides, the increasing adoption of enterprise mobility and telecom services and unified communication and collaboration services by business entities is supporting the workplace transformation market growth in the region.

GLOBAL WORKPLACE TRANSFORMATION MARKET, BY ORGANIZATION SIZE, $M (2013-2023)

Market Dynamics

The spurring demand for connected workplaces is one of the most-prominent trends in the workplace transformation industry. Collaboration services are currently becoming the face of futuristic, automated, and connected workplaces. Collaboration technologies provide an end-user-defined environment, where a user can communicate with other employees and access her/his workplace from any device, from any location. Such a collaborative workplace would provide platforms for crowdsourcing, idea generation, and gamification, which would result in enhanced productivity.

In recent years, the utilization of cloud-based applications has significantly increased in workplaces, which is why IT firms are viewing such applications as growth opportunities for themselves. For instance, the controlled use of cloud-based collaboration tools, such as Dropbox, is offering an efficient way of communication to facilitate collaboration within an organization or a group.

The growing penetration of tablets and smartphones has resulted in the proliferation of the BYOD culture in workplaces. Businesses are searching for new ways to enhance the productivity and efficiency of their employees. With the mounting demand for mobility in the workplace from employees, businesses have started embracing the BYOD culture. This driver for the workplace transformation market enables employees to carry their laptops, tablets, and smartphones to the office and use them with the mobility applications of the enterprise to access corporate data.

Moreover, the BYOD culture reduces the IT setup time and the burden of hiring extra IT resources. Additionally, a surge in the utilization of cloud-based apps has aided the adoption of BYOD in business firms, as these apps can be accessed from anywhere, at any time.

Technological advancements, such as artificial intelligence (AI) and automation, are helping organizations in streamlining their operational processes and boosting productivity. The advancements in AI have encouraged workplace transformation solution providers to bolster their offerings with the cloud and AI technologies. Futuristic workplaces will integrate such novel technologies to enable employees to connect smoothly and get things done efficiently.

For example, smart and cloud-supported connected meeting rooms will enable employees to connect wirelessly, by using voice, video, and touchscreens. With the advancement in these technologies, market players have ample opportunities to develop innovative services and products to transform workplaces.

Competitive Landscape

The workplace transformation market is highly competitive in nature. Major players are focusing on mergers & acquisitions, partnerships, and service launches to expand their market foothold. For instance, in February 2018, Citrix Systems Inc. acquired Cedexis Inc., a real-time data-driven service provider, for dynamically optimizing the flow of traffic across public clouds, data centers, content delivery networks (CDN), and internet service providers (ISP). The aim behind this move was to improve application performance in hybrid and multi-cloud environments using a dynamic and programmable intelligent traffic steering technology.

Further, in January 2018, Infosys Limited signed a strategic partnership with A.S. Watson group (a health and beauty retailer) to initiate digital transformation in the latter’s workplace. Infosys agreed to provide technology services across data science and AI and develop AI-based customer centric analytics aimed at improving efficiency and scalability.

Some of the key players operating in the global workplace transformation market are Tata Consultancy Services Limited, Accenture plc, Infosys Limited, HCL Technologies Limited, Citrix Systems Inc., Cisco Systems Inc., Intel Corporation, IBM Corporation, Cognizant Corporation, and Unisys Corporation.

Key Questions Addressed/Answered in the Report

• What is the current scenario of the global workplace transformation market?
• What are the historical size and the present size of the categories within the market segments and their future potential?
• What are the major catalysts for the market and their impact during the short, medium, and long terms?
• What are the evolving opportunities for the players in the market?
• Which are the key regions from the investment perspective?
• What are the key strategies being adopted by the major players to expand their market share?