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 News

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.

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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).

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. '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'

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.

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.

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.

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