Workplace Transformation Market Analysis Report By Service, By Enterprise Size, By End Use, By Region And Segment Forecasts From 2020 To 2027

Industry Insights

The global workplace transformation market size was worth USD 11.9 billion in 2019 and is projected to ascend at a significant rate over the forecast period. Recently, connected workplaces are gaining traction across the world, which, in turn, proliferating market growth.  Collaboration services have enabled the easy accessibility of workplaces from anywhere and any device. Further, they have transformed workplaces into a platform for gamification, crowdsourcing, and idea generation. These aforementioned factors are bolstering the growth of the market.

Enterprises are witnessing the increasing adoption of Bring Your Own Device (BYOD) and enterprises mobility, resulting in driving the growth of the market. The growing adoption of smartphones and tablets has led to a rise in the popularity of BYOD at workplaces. Personal devices at workplaces have enabled employees to access corporate data with ease. In addition, BYOD reduces the set-up cost and time for enterprises and improves employees’ productivity.

The advent of workplace automation and Artificial Intelligence (AI) has helped the organization in streamlining its operations and improving productivity. AI incorporation and cloud adoption have been on the high among enterprises. Adoption of new technologies has ensured easy and smooth operation among enterprises. Thus, service providers have a lucrative opportunity to offer innovative technology-based solutions, which is projected to supplement the growth of the market.

Technological advancements and enterprise workflow management have been driving the growth of the market. Both human resource and IT departments are working in tandem to ensure a flexible environment at workplaces. Further, the introduction of various digital transformation technologies at workplaces has resulted in employee satisfaction and improved productivity. Moreover, digital transformation allows easy adaptability to change work practices and technological shifts in the industry, thereby, propelling the growth of the workplace transformation market.

However, factors such as technology integration and infrastructure management are emerging as a major challenge for industry players. In addition, issues related to data integrity, security, and privacy are further impeding market growth. Although the use of smart devices can result in productivity it can also be challenging for the IT department to integrate an efficient and cost-effective solution to control workplace communication. To address these challenges, organizations require a constructive strategy in the long run with a sound capital plan.

COVID - 19 Impact Insights

Coronavirus Disease (COVID-19) has been termed a pandemic by the World Health Organization. COVID-19 has resulted in people staying in their homes, which led enterprises to develop a solution that can control remote workplaces. The mandate of Work from Home (WFH) has put extra pressure on IT departments to ensure enterprise mobility. This factor is anticipated to positively affect the market growth.

Enterprises can focus on developing an infrastructure to control remote works and make themselves ready for similar circumstances in the future. Further, organizations need to ensure that employees are equipped with all mandatory tools required while working from home. These tools can be VPNs, video conferencing solutions, and other collaborative tools that enable easy access to various enterprise data. Thus, the workplace transformation market is anticipated to witness lucrative growth amid the ongoing COVID-19 pandemic.

Service Insights

On the basis of service, the market is categorized into asset management, enterprise mobility & telecom, application management, desktop virtualization, workplace up-gradation & migration, workplace automation, service desk, field services, unified communication & collaboration, and others. Among them, the enterprise mobility & telecom segment led the market owing to its ability to ensure continuity of works irrespective of a different location. The growing trend of BYOD is strengthening the demand for the enterprise mobility segment.

On the other hand, the asset management segment is likely to exhibit considerable growth from 2020 to 2027. Software and hardware systems are the primary assets of any company. In order to increase the usage and value of their enterprise asset, organizations are increasingly using modern technologies, which, in turn, are projected to bolster the growth of the market over the next few years.

End-use Insights

On the basis of end-use, the market is divided into government, BFSI, IT & Telecom, retail, media & entertainment, manufacturing, and others. Among all, the healthcare segment is anticipated to show considerable growth from 2020 to 2027. The rise in demand for patient electronic data is strengthening segment growth. Further, owing to the growing number of patients, the demand for a scalable business solution is rising. Workplaces transformation helps in making better decisions along with saving patients time and resources. These factors are estimated to augment the growth of the market over the forecast duration.

The BFSI sector is projected to be the leading segment among all owing to massive digital transformation that has led to improved enterprise mobility. Further, favorable government initiatives in emerging countries such as China and India are attributing to the segment growth. Technologies such as payment banks, cryptocurrencies, and fintech start-ups are being rapidly adopted by BFSI industries.

Enterprise Size Insights

On the basis of enterprise size, the workplace transformation market is bifurcated into large enterprises along with small & medium enterprises (SMEs). Of them, SMEs are projected to exhibit the highest growth rate over the next few years. However, SMEs have their own limitations such as lack of financial support. Digital workplace ensures productivity and business efficiency for SMEs. In addition, the growing adoption of technologies such as IoT, ML, and AI has propelled the growth of workplace transformation among SMEs.

On the other hand, large enterprises held the highest market share in 2019. These organizations are focusing on implementing various workplace transformation tools that are easy to integrate and offer cost-effective solutions. Efficient and cost-effective solutions are the major requirements for large enterprises, as they need to ensure data privacy and flexibility. Further, huge capital investment by these enterprises makes it easy for them to avail different digital transformation tools.

Regional Insights

Due to the rising service industry and an increasing number of small and medium enterprises, Asia Pacific is projected to emerge as the fastest-growing region over the forecast duration. Further, increasing smartphone penetration and rapid growth in online commerce are anticipated to bolster the region's growth in the coming years. A large number of companies are adopting cloud and BYOD is becoming a new norm in the region. Increasing foreign direct investments and a rapidly increasing economy are expected to proliferate the regional growth over the forecast years.

In 2019, North America held the largest market share in workplace transformation. Growing technology adoption in the region is the primary factor attributing to the growth of the market. Further, financial stability in the region ensures greater investment in innovative technologies. In addition, the presence of several key players such as Citrix Systems, Unisys, and Cisco Systems are driving the growth of the market.

Workplace Transformation Market Share Insights

Work environment and operational efficiency. Leading players operating in the market include Atos, Capgemini, IBM Corporation¸ Unisys Corporation, NTT Data Corporation, Accenture PLC, HPE, Intel Corporation, and Citrix Systems among others.

In order to stay competitive in the market, key players are investing heavily in R&D. In addition, these players are expanding their product portfolio by launching innovative products. For example, Accenture, in 2018, introduced a digital platform called Accenture Intelligent Enterprise Platform that is aimed at powering enterprise workplace transformation.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels, and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Million Insights has segmented the global workplace transformation market report based on service, enterprise size, end-use, and region:

• Service Outlook (Revenue, USD Million, 2016 - 2027)
    • Application Management
    • Asset Management
    • Desktop Virtualization
    • Enterprise Mobility & Telecom
    • Field Services
    • Service Desk
    • Unified Communication & Collaboration
    • Workplace Automation
    • Workplace Upgradation & Migration
    • Others

• Enterprise Size Outlook (Revenue, USD Million, 2016 - 2027)
    • Large Enterprise
    • Small & Medium Enterprise

• End-use Outlook (Revenue, USD Million, 2016 - 2027)
    • BFSI
    • Government
    • Healthcare
    • IT & Telecom
    • Manufacturing
    • Media & Entertainment
    • Retail
    • Others

• Regional Outlook (Revenue, USD Million, 2016 - 2027)
    • North America
        • U.S.
        • Canada
    • Europe
        • Germany
        • U.K.
    • the Asia Pacific
        • China
        • India
        • Japan
    • Latin America
        • Brazil
    • MEA