Digital Workplace Market Analysis, Prospects, Regional Trends and Potential of the Industry 2030
Digital Workplace Market Overview
Digital Workplace Market valued
at USD 21.3 billion in 2020 and expected to surpass USD 76.6 billion by 2027
with 21.8% CAGR.
A digital workplace refers to a cloud
or on-premises-based work platform which enables organizations to move work to
the virtual space. A digital workplace platform consists of all the
collaboration features, data, applications, and tools employees need to perform
work within a dependable online interface that they can handle anywhere, at any
time, and on any device.
Digital Workplace Market Drivers
The global digital workplace market has
recorded a major rise in the growth rate in the last few years. The market's
growth is mainly attributed to the demand for greater flexibility. Furthermore,
factors such as increased team member experience, rapid adoption of the digital
workplace by business leaders across the globe, and a growing focus on improved
customer experience are also likely to catalyse the market's growth over the
assessment timeframe. Moreover, the digital workplace platforms consolidate all
team member data in one particular location, makeup it easy to work, and stay
connected from anywhere, at any time. In addition, the improved productivity,
growing demand for cost optimization, increasing adoption of the digital
workplace from the developing economies, and rising adoption of cloud and
enterprise mobility services among organizations are also some of the major
parameters likely to boost the growth of the digital workplace market over the
assessment timeframe.
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Key
Players
- International Business Machines Corporation (US)
- Cognizant Technology Solutions Corporation (US)
- Zensar Technologies (India)
- Wipro Limited (India)
- HCL Technologies (India)
- Atos (France)
- Capgemini SE (France)
- NTT Data Corporation (Japan)
- Infosys Limited (India)
- DXC Technology (US)
- Accenture plc (Ireland)
- Fujitsu Limited (Japan)
- Unisys Corporation (US)
- The Hewlett Packard Enterprise Company (US)
- Tata Consultancy Services (India)
- CompuCom Systems Inc. (US)
COVID-19 Impact
The global COVID-19 pandemic has had a
major impact on the majority of the market sectors across the globe. Several
companies functioned effectively before the COVID-19 pandemic; the epidemic
caused even more organizations to quickly speed up digital adoption and employ
best practices that until now were "nice to have." The COVID-19
pandemic stopped the digital deferment period, catering to the softer ignition
for the digital revolution.
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Digital Workplace Market Segment
Analysis
Among all the components, the services
segment is anticipated to secure the top position across the global digital
workplace market over the forecasted era. Furthermore, the segment is split
into managed services and professional services.
Out of all the deployment methods, the
cloud segment is projected to record the highest CAGR over the assessment
timeframe.
Considering the organization size, the
SME segment is anticipated to register the highest growth rate over the
forecasted timeframe.
Among all the verticals, the
telecommunication and ITes, manufacturing, and BFSI sector are likely to
contribute the maximum share across the global digital workplace market over
the assessment timeframe.
Digital Workplace Market Regional
Analysis
The global digital workplace market is
studied across five major regions: Middle East & Africa, South America,
Asia-Pacific, Europe, and North America.
The MRFR analysis suggests that the
North American region will secure the top position across the global digital
workplace market over the assessment timeframe. The region is further split
into Mexico, Canada, and the US. The regional market's growth is mainly
attributed to the early implementation of innovative technologies across
enterprises. Canada and the US are the leading revenue pockets across the
region. Furthermore, the rapid adoption of advanced technologies such as
Robotic Process Automation (RPA), Augmented Reality (AR), and Artificial
Intelligence (AI) is boosting the growth of the regional market over the
assessment timeframe. Social media collaboration outside the enterprise has
significantly driven the market growth across the region, particularly the US
region. In addition, the presence of prominent digital workplace vendors across
the region is another crucial parameter supporting the regional market's growth
over the coming years.
The digital workplace market for the
European region is likely to register substantial growth over the assessment
timeframe. The region is further split into France, Germany, the UK, and the
Rest of Europe.
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