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 current rise is due to the increased digitalization and increasing demand for desktop-as-a-service contributed to the increased growth while the demand for employees for more flexibility contributing to growth. Responding to the outbreak of the COVID-19 pandemic, businesses have shifted to remote working, transforming their technologies to create a digital workplace to run their business for business continuity. In addition, as a result of the pandemics, several organizations invested in transforming the workplace in the long-term for a hybrid work model. As a result, the organizations have to use a cloud-based solution for remote working, giving secure access. The digital smart asset technology workplace resulted in several advantages to the businesses. The growth of the market is contributed by the wide adoption of advanced technologies, such as BYOD and enterprise mobility by organizations. It enhances the flexibility and mobility of users while reducing the time workers spend on software licensing and hardware as well as monitoring mobile devices that are wholly owned by business. It also affects the nature of workplaces, as well as the procedures through the organizational restructuring, and decreases the operational expenditure of companies. Moreover, with the help of AI, the Internet of Things, as well as VR, workplaces are anticipated to adopt more cloud-based and more flexible accessibility solutions. All the mentioned benefits contribute to the growth of the digital workplace market.
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Rising Demand of Digital Workplace to Increase Efficiency and Productivity among Employees
The digital workplace helps in the attracting, retaining, engaging, and motivating employees. Personal gadgets can be used by employees, and they can follow any work styles based on digital workplace policies. Employee content and data are embedded in collaboration tools, corporate drop boxes, and cloud storage securely, which allows the employees to view data on their devices anywhere, anytime, or day and night, whether they are in the office or working from home. Their access to the works that they require will increase efficiency. In addition, productivity and organizational agility will increase. Workers will use digital workplace solutions to communicate and collaborate with each other to provide such connections.
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Increasing Adoption of Digital Workplace among SMEs to Improve Productivity
Small and medium businesses are implementing digital workplace solutions to gain a competitive edge in the market. Digital workplace also offers various benefits like improved productivity, cost better savings, boosting workforce mobility and agility, flexibility, and adaptability to the market. Enterprises can focus more on its core operations, business expansion, and their position in the industry. Regardless of the industry, SMEs are adopting digital workplace services as it is helping them to continue to operate and compete in the market. Thus, the rise in the adoption of digital workplace services in SMEs is creating immense opportunities for the market to grow.
- In March 2024, Ethniki Asfalistiki formed a partnership with Kyndryl. The objective of this collaboration is to digitally modernize Ethniki’s workplace. This program will provide Ethniki staff access to the tools, data, and apps they need anytime and anywhere.
- In May 2024, Wipro signed a multi-million-dollar agreement with Nokia. The objective of the agreement is to modernize Nokia’s employee service desk and offer smooth, real-time IT help to a global network of employees.
- In February 2023, Microsoft launched Mesh, which is a platform for holographic meetings and collaboration within the metaverse. This solution highlights the increasing focus on immersive technologies in the digital workplace.
This Market has the Following Segments
Component
- Solutions
- Services
Deployment
- On-premises
- Cloud
Organization Size
- Large Enterprises
- SMEs
Vertical
- BFSI
- Consumer goods and retail
- Telecommunication and ITes
- Manufacturing
- Healthcare and pharmaceuticals
- Government and public sector
- Media and entertainment
- Others
Key Players Operating in the Digital Workplace Market
- Atos
- Cognizant
- IBM
- Zensar
- Wipro
- Infosys
- DXC Technology
- Accenture
- Fujitsu
- HCL Technology
- Capgemini
- NTT Data
- Unisys
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Increasing Adoption of Cloud Services to Minimize Operating and Infrastructure Expenses
Cloud service refers to outsourcing IT management and resources run on the cloud. One of the primary growth-promoting factors of cloud service is the increasing motivation of businesses to reduce their operating and infrastructure costs in managing business procedures. Additionally, outsourcing cloud resources to external parties can improve organizational competitiveness and helps businesses focus on their core and key features. On the other hand, the trend of big data expansion is likely to increase the demand for analytical and cloud computing services. Furthermore, service demands will continue to increase in line with the improvement of scalability and reliability, allowing businesses to expand their operations by providing tailor-made solutions using the available service.
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