Digital Workplace Market: Current Analysis and Forecast (2022-2028)

Digital Workplace Market: Current Analysis and Forecast (2022-2028)

The global Digital Workplace Market is expected to grow at a growth rate of around 22% during the forecast period. The global digital workplace market is growing rapidly on the account of the growing demand for greater flexibility in terms of work-life balance among employees, increasing demand for desktop-as-a-service, and enhanced employee experience through a simpler and more flexible work style. A virtual workspace is a workspace that is not in physical space. Typically, this is a network of multiple workplaces technically connected regardless of geographical boundaries. Employees can therefore interact in a collaborative environment regardless of their location. Moreover, increased digitalization and increasing adoption of cloud computing is further impacting the growth of the digital workplace market. For instance, according to Eurostat, in 2020, 36% of enterprises in the European Union were using cloud computing services but in 2021, 41% of enterprises were using cloud computing services.

Atos SE, Cognizant Technology Solutions, International Business Machines Corporation, Zenstar Computer Solutions, Wipro Limited, Infosys Limited, Accenture plc, Fujitsu Limited, HCL Technologies, and DXC Technology are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
"Amongst organization size, large enterprises segment to witness robust CAGR during the forecast period”

By organization size, the digital workplace market is divided into large enterprises and SMEs. The large enterprises catered to a significant share of the market. This is because many large companies are embracing easy-to-use, cloud, and innovative technologies, supported by AI and other automation technologies and software. By implementing a digital workplace strategy, enterprises can achieve increased flexibility, optimized cost, and improved services, process, and employee experience. Furthermore, it can also help in achieving improved customer experience and executive decision-making.
"Amongst industry, the information and communication technology segment to hold a significant share in the market in 2020”

Based on industry, the market is divided into information and communication technology, banking and financial services, media and entertainment, consumer goods and retail, and others. Information and communication held a significant share of the global digital workplace market in 2020. As the information and communication technology industry grows rapidly, the pandemic has increased the need for workforce flexibility and resilience. Organizations are aggressively investing in digital solutions to run their businesses and build resilience against unprecedented lockdowns.
"North America to hold a significant share in the market”

In 2020, North America held a significant share of the global digital workplace market. This is because North America is home to the major companies operating in the information and communication technology and banking and financial services companies. Moreover, North America is the most mature market for the adoption of digital workplace solutions and services. The region is a hub for various small businesses, start-ups, and medium and large enterprises. It signifies the move to secure internet of things (IoT) gateway communications, the adoption of technologies such as artificial intelligence (AI), augmented reality (AR), robotic process automation (RPA), and the rise of social collaboration outside the enterprise. Thereby the demand for digital workplaces is high in North America.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.