Digital Workplace Market worth $72.2 billion by 2026, growing at a CAGR of 21.3%: Report by MarketsandMarkets™

Chicago, June 21, 2023 (GLOBE NEWSWIRE) -- The global Digital Workplace Market size is expected to grow from USD 22.7 billion in 2020 to USD 72.2 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 21.3% during the forecast period, according to a new report by MarketsandMarkets™. Digital workplace enables employees to access all their applications and data from any device, any time, and anywhere, securely and safely. This instant access to a connected environment increases employee productivity and satisfaction. Major advantages of digital workplace are gain a competitive advantage among their peers by improving their employees’ experience and productivity.

Browse in-depth TOC on "Voice Assistant Application Market"

122 - Tables
48 - Figures
199 - Pages

Download Report Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=81457101

Scope of the Report

Based on components, the global segmented into solutions and services. The demand for solutions of such digital workplace is increasing as it provides the ability to improve productivity metrics by strategically adopting emerging technologies. Tools designed to help workers communicate and collaborate on projects can create additional efficiencies throughout the existing workflows. The customers adopt digital workplace solutions as it plays a vital role in improving the productivity of employees and enhancing customer satisfaction.

The Digital Workplace Market is segmented by deployment into on-premise and cloud. The cloud segment is expected to hold a higher share of the Digital Workplace Market, although large enterprises have been focusing more on the on-premise deployment in recent times as it provides them with several benefits, such as dedicated resources offering enhanced security as compared to the cloud deployment. Companies choose their deployment type based on their requirements, budgets, security, flexibility, scalability, and compliance.

Based on organization size, the Digital Workplace Market is segmented into SMEs and large enterprises. The growing use of the latest technologies, such as mobile, cloud, and social media, has changed every organization’s working style. Companies require technologies that can assist them in improving their profit margins and operational efficiency. Digital workplace offerings help companies to improve their business processes and gain an edge over their competitors. The increasing need to reduce the cost of deployment by SMEs is expected to increase the adoption of the digital workplace during the forecast period.

Inquire Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=81457101

The Digital Workplace Market is segmented into five regions: North America, Europe, APAC, MEA, and Latin America. This chapter provides insights into these regional markets in terms of market size, growth rates, future trends, market drivers, and COVID-19 impact. North America is expected to hold the highest market share in the overall Digital Workplace Market during the forecast period. Following North America, Europe is expected to hold the second-highest market share during the forecast period. The region can be considered as a mature market due to the large presence of several players offering digital workplace solutions and services. Organizations shifting toward the adoption of emerging technologies and the increasing adoption of digital business strategies are the major factors for the adoption of digital workplace offerings in Europe. The region includes advanced IT infrastructure, along with strong support from the government, which is also contributing to the growth of the market.

The Digital Workplace Market comprises major providers, such as Atos (France), Cognizant (US), IBM (US), Wipro (India), Infosys (India), Zensar (India), Accenture (Ireland), Fujitsu (Japan), HCL Technology (India), DXC Technology (US), NTT Data (Japan), Unisys (US), HPE (US), TCS (India), Sonda (Chile), KissFlow (India), Capgemini (France), and others. The study includes an in-depth competitive analysis of key players in the Digital Workplace Market with their company profiles, recent developments, COVID-19 developments, and key market strategies.

Top Trends in Global Digital Workplace Market

• Cloud-based digital workplace solutions continued to gain popularity. Organisations could access their digital workplace tools and apps from any location because to cloud platforms' scalability, flexibility, and cost-effectiveness.
• Organisations now place a high priority on enhancing employee satisfaction and engagement. Digital workplace solutions emphasised on individualised experiences, user-friendly interfaces, and technologies that promoted productivity.
• Chatbots, virtual assistants, and process automation are just a few examples of AI-powered tools that have greatly improved productivity, streamlined workflow, and the experience of working in the digital workplace.
• The importance of protecting sensitive data and upholding privacy increased with the rise of remote work and digital collaboration. Strong security features like multi-factor authentication, encryption, and data loss protection are included in digital workplace solutions.
• Businesses aimed to combine their collaboration and communication tools into a single platform. Efficiency was raised and fragmentation was decreased by combining instant messaging, video conferencing, file sharing, and project management tools into a unified digital workplace platform.
• Digital workplace solutions were developed in response to the widespread usage of mobile devices and centred on delivering unified user interfaces across all platforms. For facilitating productivity on smartphones and tablets, mobile applications and responsive design have become crucial.
• To acquire insights into employee behaviour, usage trends, and overall digital workplace performance, data analytics capabilities were used. Organisations were able to use this information to pinpoint areas for improvement, streamline processes, and come to data-driven conclusions.

Key Industry Development

• An increasing amount of attention was being paid to merging disparate collaboration and communication tools into unified platforms. By offering staff members a seamless environment for communication and collaboration, this integration sought to optimise workflows, increase productivity, and improve user experience.
• Digital workplace solutions were increasingly incorporating AI technologies. Routine processes were being automated, customer service was being improved, and personalised experiences were being offered through the use of AI-powered chatbots, virtual assistants, and automation tools.
• Digital workplace solutions concentrated on enhancing security protocols in response to the surge in cyber threats and data breaches. To protect sensitive information, these incorporated strong authentication techniques, data encryption, threat detection, and prevention systems.
• Digital workplace solutions that are mobile-friendly are still in high demand. Businesses searched for solutions that would enable employees to access and collaborate on work-related tasks easily using mobile devices, enabling productivity on the go.
• It has becoming more popular to integrate digital workplace solutions with already-in-use business software, like CRM and ERP systems for customer relationship management. A uniform user experience and data integrity throughout systems were the goals of this integration.
• Organisations realised how crucial it was to give employees' experiences in the digital workplace top priority. In order to increase employee engagement and productivity, solutions emphasised personalised experiences, simple access to pertinent information, and intuitive interfaces.
• Data analytics is being used more and more by digital workplace solutions to get insights into employee behaviour, usage trends, and overall performance. Organisations were able to find areas for improvement, streamline processes, and arrive at wise judgements thanks to this data-driven strategy.

Browse Adjacent Markets: Software and Services Market Research Reports & Consulting

Browse Other Reports:

Fintech as a Service (FaaS) Market - Global Forecast to 2028

Metaverse in Education Market - Global Forecast to 2028

Law Enforcement Software Market - Global Forecast to 2028

Digital Asset Management Market - Global Forecast to 2028

Devops Market - Global Forecast to 2028