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

Workplace Transformation Market Overview

The global workplace transformation market generated revenue of $9.2 billion in 2017 and is forecast to progress at a CAGR of 17.5% during 2018–2023. The increasing adoption of the bring-your-own-device (BYOD) policy, changing workforce demographics, and growing adoption of enterprise mobility services are the key factors driving the growth of the market worldwide.

Based on service, the workplace transformation market has been classified into enterprise mobility and telecom services, unified communication and collaboration services, application management services, workplace automation services, workplace upgradation and migration services, desktop virtualization, asset management services, field services, service desk, and others, where “others” include data center transformation services and network management services. Among these, the enterprise mobility and telecom services category held the largest share in the market in 2017, as these services offer uninterrupted operations, irrespective of the location, and enhance the overall efficiency and productivity of the organization.

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

On the basis of end user, the workplace transformation market has been categorized into banking, financial services, and insurance (BFSI), healthcare and life sciences, retail, manufacturing and automotive, government, telecom and information technology, transportation and logistics, media and entertainment, and others, where “others” include education, energy, and utilities. Among these, BFSI held the largest market share in 2017, owing to the increasing need in the industry for improving the productivity and efficiency of employees. Due to the influx of new digital-first firms, traditional insurers and banks are rethinking their digital strategy to compete effectively in the market.

Based on region, North America held the largest share in the workplace transformation market in 2017. This is primarily attributed to the technological advancements, huge IT spending, and presence of a huge number of large enterprises. In addition, the rising adoption of unified communication and collaboration services as well as enterprise mobility and telecom services by various business organizations is further supporting the growth of the market in the region.

Workplace Transformation Market Dynamics

Trend

The rising demand for connected workplaces is one of the major trends being observed in the workplace transformation market. Collaboration services are becoming the face of futuristic, connected and automated workplaces. Collaboration technologies offer an end-user-defined environment, where a user can access his or her workplace and communicate with other employees from any device, anywhere. Such a collaborative workplace would provide platforms for idea generation, crowdsourcing, and gamification, all of which lead to enhanced productivity.

The use of cloud-based applications in the workplace has increased in the past few years, which is supporting the growth of the workplace transformation market. IT enterprises are seeing cloud-based applications as an opportunity; for example, the enterprise-controlled use of cloud-based collaboration tools such as Dropbox is providing an efficient way of communication to support collaboration within a group or organization.

Driver

The increasing adoption of the BYOD policy in the workplace is one of the key factors driving the growth of the market across the globe. The adoption of smartphones and tablets has been growing exponentially, which has led to the rise of the BYOD culture in the workplace. Enterprises are looking for ways to increase the efficiency and productivity of employees. As the demand for mobility in the workplace is increasing from employees, enterprises have started implementing BYOD policies. This enables employees to carry their own devices, such as laptops, smartphones, and tablets, to the workplace, and use them with enterprise mobility applications to easily access corporate data. Enterprises have their own benefits by implementing BYOD policies, as it increases employee productivity and also reduces the IT setup time and cost. Furthermore, a rise in the usage of cloud-based apps has also made the adoption of BYOD easier for enterprises, as cloud-based apps can be accessed from anywhere, which helps employees work anytime, irrespective of their location.

Opportunities

Technological developments, such as automation and artificial intelligence (AI), are playing a crucial role in organizations in improving productivity and streamlining processes. With advancements in AI, workplace transformation service providers do not want to lag behind in providing the cloud technology and integrating the AI technology in their service offerings. Future workspaces will adopt new technologies that would make it easier for employees to connect and get things done smoothly. For instance, smart and cloud-based connected meeting rooms will empower employees to collaborate wirelessly by using touchscreens, voice, and video. Hence, there are ample opportunities for service providers to innovate their offerings by using advanced technologies.

Workplace Transformation Market 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?