Global workplace transformation market is expected to reach $24.1 billion by 2023, according to P&S Market Research.
Transition in workforce demographics and increasing adoption of enterprise mobility services, which help enhance workforce productivity and reduce operational expenses, are the major factors contributing to the robust growth of the market.
Insights on Market Segments
On the basis of service, the workplace transformation market has been categorized 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. Enterprise mobility and telecom services contributed the largest revenue to the market in 2017. Organizations are making enterprise mobility a crucial component of the workplace strategy by offering mobile-based applications, cloud-enabled services, and related software to their employees for improved productivity and communication.
Based on organization size, the workplace transformation market has been categorized into large enterprises, and small and medium enterprises (SMEs). Large enterprises are expected to continue generating larger revenue share in the workplace transformation market in the coming years.
Browse report overview with detailed TOC on "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" at:https://www.psmarketresearch.com/market-analysis/workplace-transformation-market
On the basis of industry, 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. Of these, the BFSI industry is expected to continue generating the largest revenue in the workplace transportation market in the coming years.
Enterprise mobility and smart mobile applications have transformed the way the traditional banking system functions. Digital banking applications offered by vendors have transformed the devices used by the clients into financial management devices, which can be accessed by them as per their convenience.
Market is expected to witness the fastest growth in Asia-Pacific (APAC)
During the forecast period, the workplace transformation market is expected witness the fastest growth in APAC, as many western companies are adopting the “Look East” strategy for cost-cutting and governments in various Asian countries are supporting the Industry 4.0 revolution, which stresses workplace transformation. Besides, the APAC region has become a manufacturing hub in recent years. There has also been an increase in the demand for large automated warehouses facilities for storage and logistic purposes, which require optimum usage of the workspace through workplace automation services.
Enhanced work flexibility and collaborations among employees are the key growth drivers for the market
A flexible workplace is a key factor that can differentiate an organization from its competitors. A major element in creating a flexible work environment is having the supporting technology in place that can allow employees to collaborate more effectively, irrespective of their location. Connected devices has come as a boon to all employees, as they help increase connectivity among devices, which, in turn, results in the faster exchange of data among employees. Business organizations, across the world, are recognizing the need for technologically transforming their workplaces, which, in turn, is supporting the growth of the workplace transformation market.
Adoption of workplace transformation services such as cloud-based mobility solutions by SMEs are offering growth opportunities to the market
Vendors are increasingly integrating cloud-based and mobility solutions, such as AI, IoT, and virtual reality, to offer improved workplace management. Future workspaces will adopt new technologies, such as smart and connected meeting rooms, and will empower employees to collaborate with colleagues wirelessly, enabling interactions through touchscreens, voice, and video features.
Moreover, SMEs are increasingly implementing workplace transformation services because of the various benefits offered by them, such as faster deployment, improved business agility, increased employee efficiency, and elimination of huge infrastructure cost. Thus, the rising adoption of these services by SMEs and the increasing integration of cloud-based and mobility solutions are offering growth opportunities to the players in the workplace transformation market.
Workplace transformation market competitiveness
Players in the workplace transformation market are focusing on enabling technological modification in organizations for enhanced work environment and operational efficiency. Some of the key players operating in the market are Accenture plc, Tata Consultancy Services Limited, Infosys Limited, Citrix Systems Inc., HCL Technologies Limited, Intel Corporation, Cisco Systems Inc., IBM Corporation, Cognizant Corporation, and Unisys Corporation.
Global Workplace Transformation Market Segmentation
Market Segmentation by Service
Market Segmentation by Organization Size
Market Segmentation by Industry
Market Segmentation by Region