USD 33.42 billion
Digital Workplace Market Size, Share, Growth Analysis, By Component(Solutions (Unified communication and collaboration, Unified endpoint management, Enterprise mobility and management), Services (Professional services), By Deployment(On-premises, Cloud), By Organization Size(Enterprises, SMEs), By Vertical(BFSI, Consumer goods and retail, Telecommunication and ITeS, Manufacturing), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45B2038 |
Region:
Global |
Published Date: September, 2024
Pages:
197
|Tables:
99
|Figures:
82
Digital Workplace Market Insights
Global Digital Workplace Market size was valued at around USD 33.3 billion in 2022 and is expected to rise from USD 40.4 billion in 2023 to reach a value of USD 188.1 billion by 2031, at a CAGR of 21.2% over the forecast period (2024–2031).
Widespread adoption of advanced technologies, such as Bring Your Own Device (BYOD) and office mobility by organizations contribute to market growth. This increases flexibility and mobility, while reducing time to hardware and software licensing and device maintenance for employee-owned devices. It changes the nature of workplaces and processes, aided by organizational innovation, and reduces the cost of services.
Additionally, cloud-based solutions, flexibility and accessibility are expected to be implemented in the workplace with the help of Artificial Intelligence (AI), Internet of Things (IoT), and Virtual Reality (VR). For example, in May 2022, information technology (IT), consulting business services company Wipro announced a partnership with transportation solutions provider Scania to offer support, advanced automation and enhanced customer experience. This partnership will help Scania harness the unique capabilities of the Wipro ecosystem and move towards sustainable transport solutions and digital workplace experiences. Consequently, there are many opportunities for service providers to innovate their products by using cutting-edge technologies, thereby boosting the industry.
US Digital Workplace Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024–2031
Global Market Size
Largest Segment
Large Enterprises
Fastest Growth
Small and medium sized enterprises
Growth Rate
22.30% CAGR
Global Digital Workplace Market($ Bn)
Country Share for Asia Pasific Region (%)
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Digital Workplace Market Segmental Analysis
Global Digital Workplace Market is segmented by Component, Deployment, Organization size, Vertical, and region. Based on Component, the market is segmented into Solutions (Unified communication and collaboration, Unified endpoint management, Enterprise mobility and management), Services (Professional services, Managed services). Based on Deployment, the market is segmented into On-premises, Cloud. Based on Organization size, the market is segmented into Large Enterprises, SMEs. Based on Vertical, the market is segmented into BFSI, Consumer goods and retail, Telecommunication and ITes, Manufacturing, Healthcare and pharmaceuticals, Government and public sector, Media and entertainment, and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Digital Workplace Market Analysis by Component
The solutions segment is dominant and has a market share of 67.6% in 2023. For example, Trianz PULSE, the next-generation digital enterprise solution, is designed to allow customers, vendors and partners to collaborate and communicate through one central location and simplify the management of remote employees. It enables social networks in the workplace, enhances collaboration and team building across the organization, provides access to social media to post corporate messages and even increases productivity and efficiency through self-service capabilities. These benefits offered by digital enterprise solutions will support the growth of the sector over the forecast period.
The service segment is expected to grow at a CAGR of 23.5% during the forecast period. This includes consulting services, training support and maintenance, and integration and implementation services. This service helps organizations align their digital workspaces more effectively and efficiently. Additionally, they provide cost-effective support for technical inquiries and eliminate downtime created by implementing digital enterprise solutions. In addition, it helps organizations to gain a competitive edge in the market by providing various benefits such as a stable business environment, reduced governance and compliance risks etc. These factors will drive the adoption of digital workplaces during the forecast period.
Digital Workplace Market Analysis by Vertical
The IT & telecom segment achieved a revenue share of 22.8% in 2023. Growing remote work, increasing adoption of Software as a Service (SaaS) applications, and BYOD in countries like the US, Canada and India. As the global economy becomes increasingly digital, the need for epidemiologists to adapt has increased. Organizations are investing in digital solutions, to run their businesses and stay up against unprecedented disruption. For example, Infosys, an IT company that provides business consulting and outsourcing, launched four digital platforms for its internal offices, including Launchpad, InfyMe (for professional services and experience platform), LEX (for digital learning) and Meridian (collaboration and virtual events). This enabled Infosys to easily adapt its models of remote work and hybrid work during the pandemic. These developments will further drive the adoption of digital enterprise solutions in the IT and telecommunications industry over the forecast period.
The healthcare and pharmaceuticals segment are expected to grow at a CAGR of 24.3% during the forecast period. Many healthcare organizations are adopting modern digital workplace solutions and services, with benefits such as generalized information management, reduced paperwork and greater savings. By adopting digital workplaces, healthcare companies increase communication, collaboration and information that occurs everywhere and at any time throughout the organization. For example, in October 2019, Atos, an IT services consulting firm, signed an agreement with Bayer, a pharmaceutical life sciences company based in Germany, to implement the digital enterprise solutions and services for Bayer worldwide. Such recognition this adoption in the Yante healthcare industry will enhance digital demand for enterprise solutions during the forecast period.
Global Digital Workplace Market By Organization Size
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Digital Workplace Market Regional Insights
In 2023, North America dominated the market, accounting for 34.2% of the revenue. The growing regional collaboration for the digital workplace can be attributed to emerging technologies such as AI, BYOD, widespread use of enterprise travel management solutions and others. Many local workplace transformation service providers are using cloud technology and artificial intelligence (AI) are rapidly entering their service offerings. For example, in May 2020, IBM launched IBM Talent & Transformation, a business solution that uses AI to bridge the skills gap in human resources. The solution enables professionals in multiple fields, including HR, legal, finance and marketing, to adopt digital technology. Furthermore, with the increased manufacturing, retail and automotive activities of the region, there is a huge demand for software and robotic solutions which ultimately drives the growth of the market.
Asia-Pacific is expected to grow at a substantial CAGR of 23.6% during the forecast period owing to rapid adoption of digitization by various industries and growing cloud platforms in the industry. For example, in June 2020, Tata Consultancy Services (TCS) Ltd., with the support of the Singapore Economic Development Board, established a Digital Acceleration Center (DAC) to help Singapore businesses recover from COVID-19. Furthermore, TCS will provide opportunities for Singapore universities to complete through the Business Singapore SGUnited Traineeships Programme, which includes digital workplace, Internet of Things (IoT), AR etc. These initiatives in technology have provided new opportunities for local market players to expand their digital offices.
Global Digital Workplace Market By Region
- Largest
- Fastest
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Digital Workplace Market Dynamics
Digital Workplace Market Drivers
Growing Remote Work Culture
- One of the essential drivers of the digital workplace market is the rapid adoption of the remote working practices, expanded by way of the COVID-19 pandemic. Organizations are flexible business processes, and demanding robust digital solutions that streamline collaboration, communication and collaboration. The shift closer to remote and hybrid workflows has improved the demand for virtual equipment that support the virtual communication and project management, resulting in growth in the digital enterprise segment.
Collaborative Tools Enhancing Connectivity and Resource Management
- Another important driver is the continued development of technology, especially cloud computing, artificial intelligence (AI), and collaborative tools. These innovations enhance the digital workplace experience by simplifying resource management and enabling more efficient business processes. Companies are investing in cutting-edge technology to improve employee engagement, streamline operations and increase overall productivity, and drive the digital workplace market.
Restraints
Security Issues
- One of the major constraints in the digital workplace market is the growing concern about cybersecurity threats. Ensuring robust safety features can be expensive causing some corporations to withstand embracing the virtual corporation transformation altogether, slowing down the market growth. As organizations adopt the digital solutions and permit remote access to sensitive information, they face an extended risk of the data breaches and cyberattacks.
Resistance to change from Employees and Management
- Another imperative is the resistance of employees and management to change. Many organizations have established traditional work cultures that can be difficult to change. Employees may feel uncomfortable adapting to new digital tools and processes, leading to potential productivity problems. This resistance can hinder the successful implementation of digital workplace solutions, affecting the overall success of these initiatives.
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Digital Workplace Market Competitive Landscape
The digital workplace marketplace is tremendously competitive, with a mix of set up tech giants, specialized software companies, and offering solutions to enhance communication, collaboration, and productivity. The opposition is pushed by using the fast adoption of remote and hybrid work models, pushing organizations to increase contemporary technology and comprehensive platforms.
Digital Workplace Market Top Player’s Company Profiles
- Atos
- Cognizant
- IBM
- Zensar
- Wipro
- Infosys
- DXC Technology
- Accenture
- Fujitsu
- HCL Technology
- Capgemini
- NTT Data
- Unisys
- HPE (Hewlett Packard Enterprise)
- CompuCom
- Stefanini
- TCS (Tata Consultancy Services)
- SONDA
- Santo Digital
- Ilegra
Digital Workplace Market Recent Developments
- In March 2024, Kyndryl, the world’s largest IT infrastructure services provider, and Ethniki Asfalistiki, a leading Greek insurer, announced a collaboration aimed at digitally transforming Ethniki’s workplace. This initiative aims to provide Ethniki’s employees with access to the necessary tools, data and applications from any location and at any time.
- In March 2024, HCLTech launched FlexSpace 5G, which is an advanced digital workplace experience-as-a-service that increases efficiency and security for international enterprises.
- In February 2024, Zextras, a leader in developing innovative email solutions, announced the launch of Carbonio Community Edition (CE), a cutting-edge, fully open-source digital workplace platform designed to enable organizations to self-host their collaboration environment for heightened privacy and control.
Digital Workplace Key Market Trends
- Increased Focus on Employee Well-Being: One of the most important trends in the digital workplace market is the increasing emphasis on employee wellbeing and mental health. Organizations recognize the importance of creating a supportive digital environment that promotes work life balance and psychological well-being. This concept leads to the integration of healthcare tools and resources into digital workspaces, creating an engaged and productive workforce.
- Integration of Artificial Intelligence (AI) and Automation: Another key trend is the integration of artificial intelligence and automation into digital workplace solutions. AI-powered tools increase productivity by automating routine tasks, providing insight for decision-making, and improving overall efficiency. This trend is changing how employees interact with digital devices, enabling them to focus on higher-value tasks and processes, thereby increasing the adoption of digital workplace technologies.
Digital Workplace Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, we found that the Digital Workplace market is the demand for further flexibility has grown significantly across all enterprises, along with an improvement in the employee experience. This is due to the unhealthy work-life balance and rigid schedules that are part of the traditional/physical job. Business leaders all over the world intend to put employee experience ahead of customer experience since, according to studies, companies that offer an engaging staff experience provide a 50% better customer experience. In order to improve customer experience, major organizations have seen a quick adoption of the digital workplace. In today's competitive environment, digital workplace tools and technology have shown to be effective in providing flexibility and a positive employee experience. The use of cloud-based apps across a variety of industries and increased employee flexibility with regard to work-life balance can be ascribed to market expansion. Also, the market is being driven by the growing BYOD (bring your own device) trend and corporate mobility by businesses.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 33.3 billion |
| Market size value in 2031 | USD 188.1 billion |
| Growth Rate | 21.2% |
| Base year | 2023 |
| Forecast period | 2024–2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered | |
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Digital Workplace Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Digital Workplace Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Digital Workplace Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Digital Workplace Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Digital Workplace Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Digital Workplace Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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