United States, Rockville MD, Aug. 02, 2022 (GLOBE NEWSWIRE) -- A recently published study by Fact.MR expects the global digital workplace market to augment at a 22.3% CAGR from 2022 to 2032. By the end of the said assessment period, a valuation of US$ 250.2 Billion is expected for the market.
From 2017 to 2021, the industry experienced noteworthy growth, registering a value CAGR of 12.5% and closing at US$ 27.33 Billion. The concept of digital workplace deals with aligning technologies, employees, and business processes using digital transformation. It enables employees to access their apps and data on any device, from any location. The digital workplace solutions refer to enterprise mobility solutions for users to work across the physical, virtual, and connected environments seamlessly. The main aim behind workplace digitization is to build a user-centric environment.
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The main aim behind workplace digitization is to build a user-centric environment. Digital workplace solutions enable employees to choose devices that enhance their working experience, which in turn are expected to fuel the organization productivity.
Additionally, the increasing adoption of Bring Your Own Device (BYOD) and work from home concept among small and medium enterprises as well as large enterprises is one of the major factors responsible for the growth of the digital workplace market during the forecast period. In addition, the organizations are adopting digital workplace solutions to enhance employee experience through a simpler and more flexible work style.
Digital Workplace helps organizations to attract new employees and retain more experienced and expert workers. The service also improves security by providing a complete and comprehensive view of network traffic, which helps in identifying both internal and external threats.
How will the U.S perform in the Global Market for Digital Workplace?
Adoption of Advanced Technologies such as AI and BYOD to boost adoption
As per Fact.MR’s analysis, the U.S is expected to dominate the market in 2022 accounting for a revenue share of 15.2%. The growth of the industry for digital workplace in the US can be attributed to the increasing adoption of emerging technologies such as AI, BYOD, and enterprise mobility management solutions, among others. Several workplace transformation service providers in the country are rapidly incorporating cloud technologies and Artificial Intelligence (AI) into their service offerings.
For instance, in May 2020, IBM launched IBM Talent & Transformation, a business solution that uses AI to help human resources to widen their skills gap. The solution enables business professionals in several areas, such as HR, legal, finance, and marketing to adopt digital technology.
Additionally, due to the country's high manufacturing, retail, and automotive activity, there is a high demand for software and robotics solutions. This ultimately drives the development of the Digital Workplace Market in the US.
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Key Segments Covered in the Digital Workplace Industry Survey
- By Component :
- Digital Workplace Solutions
- Digital Workplace Services
- Digital Workplace Solutions
- By Enterprise Size :
- Small and Medium Enterprises (SMEs)
- Large Enterprises
- Small and Medium Enterprises (SMEs)
- By End Use :
- BFSI
- IT & Telecommunication
- Retail & Consumer Goods
- Healthcare & Pharmaceuticals
- Manufacturing
- Government
- Other End Uses (Media & Entertainment, Transportation & Logistics, and Energies & Utilities)
- BFSI
- By Region :
- North America
- Latin America
- Europe Digital
- Asia Pacific
- Middle East & Africa
- North America
Competitive Landscape
Penetrating new geographies, collaborating with government agencies or service providers and rebranding initiatives comprise some major strategies adopted by prominent Digital Workplace Service providers. Some prominent market developments are as follows:
- In December 2021, Trianz, a digital transformation technology and service company announced a partnership with Workgrid Software, an intelligent digital workspace solutions provider, to deliver a modern workplace with a digital assistant that collaborates with enterprise applications and delivers personalized, contextual information, and content to workforces. With the help of this partnership, Trianz would be able to deliver a modern workplace powered by predictive analytics, intelligent automation, and enterprise social platforms, to enable collaborations, productivity, and career orientations.
- In February 2020, BlackBerry Limited launched BlackBerry Digital Workplace, a secure robust workspace solution, to provide users with simple and secure online and offline access to corporate on-premise or cloud content including Microsoft Office 365 resources.
- In February 2020, LumApps SAS partnered with Microsoft corporation to develop a fully integrated Office 365 Digital Workplace solution. This partnership helps the LumApps to integrate its solutions with Microsoft tools which accelerates its growth in the digital workplace market.
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Key players in Digital Workplace Market
- IBM
- Accenture plc.
- HCL Technologies Ltd.
- Capgemini SE
- Tata Consultancy Services Limited
- Fujitsu Ltd.
- Trianz
- Mphasis
- Cognizant Technology Solutions Corp.
- Atos SE
Key Takeaways from Digital Workplace Market Study
- Digital workplace market growth to quadruple until 2032
- By component, digital workplace solutions account for 67.6% revenue by 2022-end
- SMEs to be primary target group for digital workplace deployment, expected to flourish at a 24.3% CAGR until 2032
- By 2022-end, digital workplace deployment will likely acquire a value of US$ 33.41 Billion
- A 22.3% CAGR is projected for the digital workplace industry from 2022-2032
- Fact.MR foresees the digital workplace market value to reach US$ 250.2 Billion by 2032
About the Technology Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned technology team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the technology industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.
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