Workplace Transformation Market Growth Analysis and Opportunity and Forecast 2019 to 2023

Market Highlights

Modern technology in the IT industry has resulted in tremendous growth in the workplace transformation market 2020. The human resources and the IT department's technology in various enterprises are collaborating to provide a workspace that assures the flexible and seamless functioning of their daily business process. The organizations which have already introduced digital transformation in their workplace experience greater productivity and happy employees.

Global Workplace Transformation market is expected to expand at a CAGR of 17% during the review period from 2017 to 2023 and with a value of USD 22 billion. The rising demand for workplace transformation in the IT industry is due to reasons such as the rapid adoption of advanced technology, customization, and cost-effectiveness.

Established companies like Hewlett Packard Enterprise Development LP (HPE) (U.S.), Accenture PLC (Ireland), Cisco Systems, Inc. (U.S.), NTT Data Corporation (Japan), Atos (France), are some of the most distinguished players in the workplace transformation market. The increased usage of modern technologies like Bring Your Own Device (BYOD), changing nature of the workplace, solutions supported by organizational restructuring and reorganizing, enterprise mobility solution and service, cut down on operational expenses, demographic factors are some of the major factors driving the expansion of workplace transformation market.

Key Players

Some of the distinguished players in the global workplace transformation market are Intel Corporation (U.S.), Accenture PLC (Ireland), Infosys (India), NTT Data Corporation (Japan), Tata Consultancy Services (India), Cisco Systems, Inc. (U.S.), IBM Corporation (U.S.), Atos (France), Unisys Corporation (U.S.), Hewlett Packard Enterprise Development LP (HPE) (U.S.), Wipro Ltd. (India), Capgemini (France), Computer Sciences Corporation (CSC) (U.S.), Cognizant Technology Solutions Corporation (U.S.), HCL Technologies Ltd. (India), Citrix Systems (U.S.), and others.

Regional Analysis

The global workplace transformation market size is analyzed in Europe, North America and the Asia Pacific and the Rest of the World (Row).

Europe is expected to defeat North America in the workplace transformation market. Asia Pacific is expected to be the fastest-growing during the review period. Europe's market is experiencing fast growth because of the modern technologies and rising demand for the digital workplace in the region. The U.S has acquired the maximum share of the market in the context of revenue as well as the adoption of modern solutions.

Among all, the North American market holds the maximum share for the workplace transformation market.

The Asia Pacific is projected to be the fastest-growing market due to the rising adoption of cloud-based solutions and establishing digital workplace services by large and small and medium enterprises. The other important factors affecting the growth of the APAC market are robust economic development, foreign direct investment, globalization, increased usage of mobile phones, and internet adoption in the workforce. China, South Korea, and Taiwan are estimated to affect the expansion of workplace transformation market due to the existence of established players like Infosys (India), NTT Data Corporation (Japan), Tata Consultancy Services (India), Wipro Ltd. (India).

Segmentation:

The global workplace transformation market is classified on the grounds of the vertical segment, service type, and organization size.

On the basis of vertical segment, the global workplace transformation can be segmented into telecommunication and IT, BFSI, healthcare and life sciences, automotive retail, manufacturing, transportation and logistics, media and entertainment, and others.

On the grounds of service type, the market can be divided into workplace automation services, workplace upgrade, and migration services, desktop virtualization, asset management services, field services, workplace automation services, application management services, service desk, unified communication and collaboration services, telecom services, and others.

On the basis of organization size, the market includes large enterprises and small and medium-size enterprises.

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