The Workplace Transformation Market is estimated to grow from $8.02 billion USD in 2016 to $18.06 billion USD by 2021, at a CAGR of 17.6% from 2016 to 2021, according to a new research report published by MarketsandMarkets.
The digital workplace services consist of all the technologies which are useful for workforce to complete their work in their respective workplaces. These services encompasses all the workplace services ranging from core enterprise applications to instant messaging, collaboration, enterprise mobility, virtualization and workplace automation tools.
Driving forces in the Workplace Transformation Market include:
The enterprise mobility and telecom service has the largest market share in the Workplace Transformation Market during the next four years. The rapid proliferation of smartphones, tablets and other smart devices in organizations is driving the mobility services.
Some of the new market trends such as BYOD, Carry Your Own Identity (CYOI) and mobile-first approach are also encouraging the organization to adopt enterprise mobility services.
Enterprise Mobility and Telecom Services is a broad term, which comprises:
These services help the workforce to work securely while they are roaming, which increases their productivity, engagement and collaboration across the organization.
Among organization size, the Small and Medium Enterprises (SMEs) segment is expected to grow at the highest rate in the Workplace Transformation Market during the 2021 forecast period. SMEs are deploying digital workplace services quickly due to their small organization infrastructure.
SMEs face many infrastructures and IT-related challenges, along with small staff and tight financial budgets. Digital workplace services bring a number of advantages to SMEs such as increased workforce productivity and business efficiency, mobilized desk-based operations, sped up time to market, cost efficiency and enhanced customer experience.
Asia-Pacific (APAC) is expected to grow at the highest growth rate in the Workplace Transformation Market during the forecast period. Most of the companies in APAC are encouraging extensive adoption of BYOD and cloud-based technology with large-scale acceptance of digital workplace services by the enterprises.
Several factors are driving the growth in APAC, such as rapid economic development, globalization and foreign direct investment, increasing penetration of smartphones and internet adoption in the workforce.
The major vendors in the Workplace Transformation Market include:
To learn more about the Workplace Transformation Market, view MarketandMarket's full report.