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The digital workplace market size is forecast to increase by USD 76.22 billion at a CAGR of 23.6% between 2023 and 2028. The market's growth trajectory is influenced by various factors, foremost among them being the decreasing hardware expenses for businesses. This reduction in costs enables enterprises to adopt digital workplace solutions more readily. Another driving force is the expanding user base accessing the internet through various devices, indicating a growing trend towards digitalization. Furthermore, there's a notable shift in employee preferences towards achieving a better work-life balance, with a particular emphasis on flexibility. Digital workplace solutions play a crucial role in facilitating this flexibility, thereby contributing to the market's upward trajectory. This confluence of reduced hardware costs, increased internet accessibility, and the demand for flexible work arrangements underscores the significant drivers propelling the digital workplace solution market forward.
Moreover, the market growth and forecasting report includes key player's detailed analyses of the competitive landscape of the market and information about 20 market companies, including Capgemini Service SAS, Cognizant Technology Solutions Corp., DXC Technology Co., Fujitsu Ltd., HCL Technologies Ltd., Hewlett Packard Enterprise Co., Infosys Ltd., Kissflow Inc., Kyndryl Inc., Microsoft Corp., Mphasis Ltd., Nippon Telegraph and Telephone Corp., Tata Consultancy Services Ltd., Tech Mahindra Ltd., Trianz, Unisys Corp., Wipro Ltd., and Zensar Technologies Inc. Additionally, Accenture Plc offers digital workplace such as Accenture Digital Workplace solutions, which prioritize user-centric experiences and digital transformation, promoting flexible collaboration and productivity.
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In today's digital age, organizations are increasingly adopting the digital workplace to enhance work-life balance for their employees. This new work style, which includes remote work and geographic flexibility, is becoming essential for attracting and retaining top talent. New employees require comprehensive training programs to adapt to data-enabled, data-driven methods, such as Desktop-as-a-Service and AI-powered tools. The digital workplace also extends to industries like BFSI Healthcare and IT and telecom, where business processes are becoming more complex. To ensure a positive employee experience, organizations must prioritize data security and cloud services. Moreover, advanced technologies like Virtual Reality (VR) and Artificial Intelligence (AI) are transforming the digital workplace, making it more engaging and productive. In summary, the market is witnessing significant growth as organizations strive to provide their employees with a modern, flexible, and efficient work environment. By leveraging technologies like AI, VR, and cloud services, organizations can improve work-life balance, enhance employee experience, and streamline business processes. Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
The reduced hardware cost for enterprises is driving growth in the market. Enterprises can save on hardware costs due to a digital workplace. In today's business landscape, organizations are embracing the digital workplace trend to enhance work-life balance for employees and achieve cost savings. By implementing bring-your-own-device (BYOD) policies, companies enable their workforce to use personal mobile devices for enterprise data access, fostering productivity and innovation. This approach caters to employee experience and work style, especially for new hires and those requiring training programs. Adopting a virtual workplace strategy offers competitive advantages, including flexibility, adaptability, and employee engagement. Leadership and organizational structure benefit from professional services and consulting services, while cloud deployment and lower manpower costs streamline operations.
Moreover, the virtual workplace is a crucial component of the Fourth Industrial Revolution, integrating automated systems, robotics, and data-enabled, data-driven methods. Geographic regions, desktop-as-a-service, artificial intelligence (AI), and virtual reality (VR) are transforming enterprise mobility. Industries like BFSI, healthcare and pharmaceuticals, IT and telecom, media and entertainment, and business processes are increasingly adopting work-from-home models for improved data security and cloud services. The digital workplace revolutionizes work culture, enabling a seamless blend of technology and human capital. Such factors will contribute to the growth of the global market during the forecast period.
The rising adoption of BYOD in SMEs is a key trend in the market. In today's business landscape, virtual workplace solutions have become essential for organizations, particularly SMEs, to enhance work-life balance, employee experience, and productivity. These solutions enable new employees to quickly adapt to business processes through training programs, fostering a competitive advantage. By embracing flexible work styles and cloud deployment, organizations can achieve cost savings and scalability, making them more adaptable to the demands of the Fourth Industrial Revolution. Professional services and consulting firms are leveraging virtual workplaces to streamline business operations, improve employee engagement, and provide leadership with real-time insights.
Moreover, the implementation of automated systems, robotics, and data-driven methods in various geographic regions has led to lower costs and increased flexibility. Virtual workplace solutions, including desktop-as-a-service, artificial intelligence (AI), and virtual reality (VR), are transforming industries such as BFSI, healthcare and pharmaceuticals, IT and telecom, media and entertainment, and more. By ensuring data security and implementing cloud services, organizations can maintain a secure and efficient work-from-home environment. Enterprise mobility, powered by AI, VR, and other advanced technologies, is revolutionizing the way businesses operate, enabling them to innovate and stay ahead of the competition. The integration of these solutions into business processes is crucial for organizations to thrive in the digital age. Furthermore, the increasing adoption of BYOD in SMEs will boost the growth of the global market during the forecast period.
Data privacy and security concerns are a major challenge in a market. In today's digital age, organizations are prioritizing work-life balance and enhancing employee experience by adopting cloud-based solutions in their digital workplaces. New employees require effective training programs, and cloud deployment offers flexibility and scalability, providing a competitive advantage. The Fourth Industrial Revolution brings automation, robotics, and data-enabled, data-driven methods to businesses, making cloud services essential. Lower costs, manpower savings, and adaptability are key benefits, enabling productivity and professional services, consulting services, and enterprise mobility.
Moreover, geographic regions vary in adoption rates, with Desktop-as-a-Service, Artificial Intelligence (AI), Virtual Reality (VR), and Enterprise Mobility leading the trend. Cloud services are transforming industries like BFSI, Healthcare and pharmaceuticals, IT and telecom, Media and entertainment, and work-from-home, ensuring data security and integration of business processes. Cloud services offer agility, flexibility, and cost savings, making them indispensable in the modern virtual workplace. Therefore, data privacy and security concerns will hinder the growth of the global market, especially among end-users who deal with large volumes of sensitive or classified information during the forecast period.
The solution segment is estimated to witness significant growth during the forecast period. In the Market of the Fourth Industrial Revolution, organizations prioritize work-life balance and enhanced employee experience. Unified communication and collaboration solutions, a sub-segment of the Market, facilitate seamless work styles for new employees through integrated training programs. These solutions offer competitive advantages, including increased productivity, cost savings, and flexibility.
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The solution segment was the largest segment and was valued at USD 11.21 billion in 2018. Employees benefit from adaptability and engagement, while leadership and organizational structure adapt to these changes. Professional services and consulting services enable cloud deployment for lower costs, manpower savings, and flexibility and scalability. Automated systems, including AI and VR, data-enabled and data-driven methods, are integral to this market's growth. Geographic regions, including BFSI, healthcare, IT and telecom, media and entertainment, and work-from-home sectors, embrace this transformation. Desktop-as-a-service and enterprise mobility further enhance the Digital Workplace's capabilities, ensuring data security and cloud services for various industries. The rising adoption of virtual workplace solutions will drive the growth of the solutions segment of the global market during the forecast period.
The growing adoption of digital workplaces across large enterprise segment will increase market growth. The large enterprise segment refers to corporations or big businesses and represents organizations with substantial workforce, extensive operations, complex IT environments, multiple departments, and a wide range of business activities. In the Market of the Fourth Industrial Revolution, organizations, particularly large enterprises, prioritize work-life balance and optimal employee experience. With a vast workforce and complex IT environments, these entities require virtual workplaces that offer productivity, cost savings, and a competitive advantage. New employees necessitate comprehensive training programs, while leadership and organizational structure seek flexibility and adaptability. Professional services and consulting services facilitate cloud deployment, enabling lower costs, manpower efficiency, and scalability. Virtual workplaces catering to large enterprises must accommodate work styles across departments and locations, ensuring data-enabled, data-driven methods. Healthcare and pharmaceuticals, BFSI, IT and telecom, media and entertainment, and other industries embrace this transformation, with work-from-home and data security becoming essential. Enterprise mobility, Desktop-as-a-service, Artificial Intelligence (AI), Virtual Reality (VR), and automation systems are integral components. Cloud services, including AI and VR, offer flexibility while lower costs and geographic reach expand the market's scope. Hence, such factors are fuelling the growth of this segment, which in turn drives the market during the forecast period.
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North America is estimated to contribute 34% to the growth of the global market during the forecast period. Technavio's analysts have provided extensive insight into the market forecast, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. In the market, organizations in North America are leading the way toward enhancing work-life balance and employee experience through advanced technologies. New employees are being onboarded using digital means, and training programs are being delivered via cloud deployment for flexibility and scalability. This shift towards virtual workplace solutions offers numerous benefits, including increased productivity, cost savings, and a competitive advantage.
Moreover, employees in various industries, such as manufacturing, retail, healthcare, and government, are embracing work styles that prioritize flexibility and adaptability. Virtual workplace solutions, including desktop-as-a-service, artificial intelligence (AI), and virtual reality (VR), are essential for enabling enterprise mobility and healthier work-life balances. The Fourth Industrial Revolution brings automated systems, robotics, and data-enabled, data-driven methods to the forefront, making it crucial for organizations to adapt. Professional services and consulting services are playing a significant role in helping businesses navigate this digital transformation. Geographic regions, including BFSI, healthcare, IT and telecom, media and entertainment, and others, are adopting virtual workplace solutions to streamline business processes and improve work-from-home capabilities.. Hence, such factors are driving the market growth in North America during the forecast period.
The market forecasting report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and trends strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Atos SE: The company offers a digital workplace such as Atos Digital Workplace, which is a suite of cloud-based solutions that enable organizations to create a unified digital workplace.
Market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2023 for the following segments.
In today's digital age, organizations are increasingly adopting digital workplaces to enhance productivity and collaboration. The Market is witnessing significant growth, with key components including Empowerment (Empower employees with the right tools), Flexibility (Enable remote work), and Productivity (Improve workflow efficiency). Organsations use Employees' Engagement (Engage employees through digital means), Profiles (Create personalized profiles), and Communication (Effective communication tools) to foster a collaborative work environment. The market depends on elements such as Lack of training and education, mobile and agile workforce, training support and maintenance, faster and efficient results, Bring Your Own Device, and cloud service. Leaders and Reality (Real-time data and analytics) play a crucial role in decision-making. Consuls (Consultants and advisors) provide valuable insights to optimize digital workplaces. Workplace technologies such as Artificial Intelligence (AI), Machine Learning (ML), and Robotics (RPA) are transforming the way we work. Desktops and Topics (Desktop applications and topic-specific tools) cater to specific needs. Security (Data security) is a top priority. Overall, the market focuses on showcasing the benefits of digital workplaces, including increased productivity, flexibility, and employee engagement.
Moreover, the market is witnessing significant transformations driven by the adoption of data-enabled and data-driven methods. This includes leveraging new technologies and tools to enhance work-life balance and improve the employee experience across various work styles. Organizations are focusing on catering to the needs of both new employees and experienced and expert workers through innovative training programs. The shift towards remote, collaborative, virtual, mobile, and augmented ways of working has become crucial, especially in diverse geographic regions. Service providers offer comprehensive setup, migration, and management services like Desktop-as-a-service to facilitate seamless operations in the COVID-19 pandemic era. Video and web conferencing tools, Artificial Intelligence (AI), Internet of Things (IoT), and Virtual Reality (VR) technologies are integral parts of the digital workplace, enhancing business processes and enabling effective work-from-home scenarios while ensuring data security through cloud services. The BFSI (Banking, Financial Services, and Insurance) and healthcare sectors, along with IT and telecom industries, are at the forefront of embracing these advancements in the market.
Market Scope |
|
Report Coverage |
Details |
Page number |
173 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 23.6% |
Market Growth 2024-2028 |
USD 76.22 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
21.87 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 34% |
Key countries |
US, China, India, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Accenture Plc, Atos SE, Capgemini Service SAS, Cognizant Technology Solutions Corp., DXC Technology Co., Fujitsu Ltd., HCL Technologies Ltd., Hewlett Packard Enterprise Co., Infosys Ltd., Kissflow Inc., Kyndryl Inc., Microsoft Corp., Mphasis Ltd., Nippon Telegraph and Telephone Corp., Tata Consultancy Services Ltd., Tech Mahindra Ltd., Trianz, Unisys Corp., Wipro Ltd., and Zensar Technologies Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Component
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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