Workplace Transformation Market Set To Show a Considerable Growth By 2023 | COVID-19 Impact
- ehteshampeerzade
- Feb 17, 2021
- 3 min read
Market Highlights
Workplaces are changing their environment to suit the comfort and convenience of employees. The trend of bring-your-own-devices (BYOD) and remote working has brought a turnaround to enhance the mood of employees. According to Market Research Future (MRFR), the global workplace transformation market is expected to expand at 17% CAGR from 2017 to 2023 to touch a value of USD 22 billion.
The global workplace transformation market is predicted tremendous growth due to human resource departments in various organizations investing in the workplace to ensure smooth workflow between employees. Benefits of workplace transformation which include high employee morale, low office malaise, and lowered operational expenses can drive market growth. This is exemplified by the renovation of the Amsterdam division of Microsoft which includes smart sensors in desks and meeting rooms. This assisted them in saving floor space normally allotted to office furniture.
Enterprise mobility is likely to push the workplace transformation market growth due to the option of remote working given to employees. Moreover, development of software suites which can ensure data privacy and integrity of organizations can lead to higher adoption of the movement. Changing demographics and processes influenced by restructuring and reorganization of office hierarchies can also be an influential driver of the market.
Segmentation:
The global workplace transformation market share is segmented by service type, organization size, and end-user.
By service type, it is segmented into telecom services, unified communication, and enterprise mobility. Enterprise mobility is expected to be the biggest segment in the market due to the trend of BYOD among employees. On the other hand, unified communications can gain a large market share due to being a secure medium for collaboration by teams for projects. Benefits of unified communications applications can enhance efficiency and allow for greater mobility among businesses.
By organization size, it is segmented into small, medium size, and large enterprise. Small and medium size enterprises can exhibit the highest growth rate due to adoption of digitization by these organizations to grow rapidly. Enhanced work productivity, mobilization of desk jobs, faster speed-to-market, and prioritization of customer experience are factors which can push the segment growth.
By end-user, it is segmented into BFSI, healthcare & life sciences, and government. The BFSI sector can contribute the maximum to the workplace transformation market due to digitization of data and adoption of enterprise mobility services.
Regional Analysis:
The global workplace transformation market is studied in Asia Pacific, North America, Europe, and Rest of the World. It has been observed that North America market accounts for the largest market share for workplace transformation market. While Asia Pacific market is anticipated to be fastest growing as most of the enterprises are adopting cloud-based solutions and deploying digital workplace services. The other factors aiding the growth of APAC market are rapid economic development, globalization and foreign direct investment, increasing penetration of smartphone, and internet adoption in the workforce.
Major Key players
Some of the prominent players in the global workplace transformation market: Accenture PLC (Ireland), NTT Data Corporation (Japan), Cisco Systems, Inc. (U.S.), Atos (France), Hewlett Packard Enterprise Development LP (HPE) (U.S.), Capgemini (France), Cognizant Technology Solutions Corporation (U.S.), HCL Technologies Ltd. (India), Citrix Systems (U.S.), Computer Sciences Corporation (CSC) (U.S.), Wipro Ltd. (India), Unisys Corporation (U.S.), IBM Corporation (U.S.), Tata Consultancy Services (India), Infosys (India), and Intel Corporation (U.S.)
Intended Audience
Technology Investors
Research/Consultancy firms
Digital Workplace Service Providers
Mobility Service Providers
Cloud Solution Providers
Service Professionals
Investors and Venture Capitalists
Mobile Application Consumers
Small and Medium Enterprises (SMEs)
Device Manufacturers
System Integrators
Bring Your Own Device (BYOD) Service Users
Wireless Network Operators
Application and Software Developers
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