Global Digital Workplace Market to Grow to USD 235.5 BN by 2032, with 21.2% CAGR from 2023 to 2032
Research Reports
Aug 23, 2023
The digital workplace market has been growing pervasively due to technological advancements and the augmenting uptake of remote environments in enterprises. Market Research Future (MRFR) asserts that the global digital workplace market value will escalate from USD 34.1 BN in 2022 to USD 235.5 BN by 2032, growing at a 21.2% CAGR throughout the assessment period (2023-2032).
Organizations are increasingly introducing digital transformations in their workplace to ensure greater employee satisfaction and more productivity. Factors such as the changing nature of workplaces, processes supported by organizational restructuring and reorganizing, and reduction in operational expenditures significantly drive the growth of the digital workplace market.
Also, the increasing adoption of Bring Your Own Device (BYOD) along with enterprise mobility solutions & services is, in turn, escalating the market on the global platform. Additional factors propelling the market growth include constant demand for a flexible smooth functionality of business processes and the adoption of digital systems in the major end-use industries.
The rising adoption of cloud-based deployments for remote work substantiates the digital workplace market size. The proliferation of cloud-based solutions and the deployment of digital workplace services are a tailwind pushing market growth. Furthermore, improving economic conditions, increasing globalization, and investments foster market growth.
Also, increasing penetration of smart, connected devices is expected to support the market growth over the assessment period. On the other hand, factors such as lack of technical expertise are expected to hinder the market growth during the forecast period. Nevertheless, expected technological advancements in recent years, through R&D, will likely present solutions and manuals to tackle these issues.
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Digital Workplace Market Key Players
Leading Digital Workplace Market players include.
- IBM Corporation
- Total IT Global
- Microsoft Corporation
- VMware Inc.
- Alphabet Inc.
- LumApps SaaS
- ATOS SE
- Hewlett Packard Development LP.
- Cognizant, Asana Inc.
- Infosys Limited
- Slack Technologies LLC
- Kissflow Inc.
- Interact
- MangoApps Inc.
- com
- Powell Software
Global Digital Workplace Market – Segments
This market is segmented into components, organization size, deployment models, verticals, and regions. The component segment is sub-segmented into solutions and services. The organization size segment is sub-segmented into SMEs and large enterprises. The deployment model segment is sub-segmented into cloud and on-premises. The vertical segment is sub-segmented into BFSI, IT & telecommunications, retail & e-commerce, healthcare, manufacturing, government & public sector, and others. By region, the digital workplace market is segmented into Europe, North America, APAC, and the rest of the world.
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Global Digital Workplace Market – Regional Analysis
Globally, North America accounts for the leading digital workplace market share. Factors such as large technological advances and the growing digitization across enterprises in the region drive market growth. Moreover, the presence of digital workplace solutions & services providers and well-established infrastructures boosts the digital workplace market revenues, enabling a favorable environment for developing and implementing technologies.
Due to the burgeoning automotive and healthcare sector, the European digital workplace market is expected to witness rapid growth over the forecast period. The emerging telecommunication & IT industry in this region is supporting the market growth favorably. Besides, the high adoption of digital workplace services in the government and the corporate sector drives the growth of the regional market.
The Asia-Pacific region is rapidly emerging as a promising market for digital workplace solutions. Burgeoning industries such as BFSI, IT & telecommunications, media & entertainment, and healthcare help the market to increase pervasively. Growing digital workplace markets in countries such as China, Japan, Korea, and India substantiate the market growth, augmenting the demand and adoption of these digital workplace services.
Market players are focusing on targeting the development of advent solutions to meet the increasing requirement of customers, which, in turn, increases the market size. The APAC digital workplace market is likely to grow at a steady CAGR throughout the forecast period.
Global Digital Workplace Market – Competitive Analysis
The global digital workplace market is highly competitive. Well-established players incorporate acquisition, collaboration, partnership, expansion, and technology launch to gain a competitive advantage.
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Industry/Innovation/Related News:
July 25, 2023 — AvePoint, an advanced platform to optimize SaaS operations and secure collaboration, announced enhancements in its Confidence Platform updates to enhance digital workplace capabilities. The upgraded AvePoint Confidence Platform boosts digital transformation in the workplace, including data migration and cloud adoption. AvePoint’s new capabilities will help organizations modernize data, upskill workforces, and measure transformation efforts, as they seek to improve the digital employee experience.
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