Workplace Transformation Market Size, Share & Trends Analysis Report By Service (Asset Management, Field Services, Service Desk, Desktop Virtualization), By Enterprise Size, By End-use, By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global workplace transformation market size was valued at USD 16.47 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 17.7% from 2022 to 2030. The transition in workforce demographics and increasing adoption of enterprise mobility services, which help enhance workforce productivity and reduce operational expenses, are the major factors contributing to the growth of the market. With the outbreak of the COVID-19, businesses have shifted to remote working and overturn their technologies to bring into digital workplace to maintain business continuity. With the help of digital workplaces, enterprises have found new ways of imparting training and facilitating team bondings and collaborations. Furthermore, with the ease of the pandemic, several organizations have made long-term investments in workplace transformation for the hybrid work model, which necessitated the adoption of cloud-based solutions to enable remote working with secure access. These factors are expected to propel the growth of the market favorably.

The growing adoption of advanced technologies such as enterprise mobility and Bring Your Own Device (BYOD) by organizations contribute to market growth. Enterprise mobility allows remote employees to stay linked and exchange essential data wherever they are. These services change the nature of workplaces and processes supported by organizational restructuring and reduce the enterprises’ operational expenditure. Furthermore, workspaces are expected to implement more cloud-based and flexibility-enhancing accessibility solutions with the help of Artificial Intelligence (AI), the Internet of Things (IoT), and Virtual Reality (VR). These advancements in technologies have provided new opportunities for market players to expand their workforce management portfolio and integrate cloud features.

AI and automation technological proliferation play an important role in improving organizations’ productivity and streamlining processes. Across industries, companies are implementing comprehensive workplace transformation services that enable virtualization, collaboration, mobility, employee productivity, and employee satisfaction. For instance, in March 2020, International Business Machines (IBM) announced a collaboration with Infosys to assist enterprises in accelerating their digital transformation journey through IBM's public cloud. As a result, there are numerous opportunities for service providers to innovate their offerings by utilizing cutting-edge technologies, which is driving the market for workplace transformation.

The advancement in mobile technologies, changing workforce demographics, and the rising trend of connected workplaces are the driving forces of the digital workplace transformation services market. Several future workspaces are increasingly adopting cloud services such as Infrastructure as a Service (IaaS), Backend as a Service (BaaS), Platform as a Service (PaaS), and Software as a Service (SaaS) to support their business needs and get the work done smoothly. Furthermore, using cloud services, organizations can provide instant access to business-critical data and enterprise applications on a variety of devices, such as tablets, smartphones, and laptops, while maintaining security restraints. These factors are expected to provide growth opportunities for the key players operating in the market for workplace transformation.

Several large organizations have implemented cloud technology, that is contextual and insights-enabled, simple to consume, and powered by AI, and other automation technologies. Moreover, cloud computing enables businesses to easily scale up or scale down their IT requirements as needed. Furthermore, cloud computing facilitates and organizes group collaboration by allowing employees to work from a centralized repository of files with real-time updates, resulting in increased productivity. Integrating tools such as instant messaging, file hosting/sharing, and collaboration applications facilitates communication between departments, allowing for more innovation. These benefits of cloud technology in workplace transformation will supplement the growth of the market for workplace transformation during the forecast period.

Service Insights

The enterprise mobility and telecom segment dominated the market for workplace transformation and accounted for the largest revenue share of 18.3% in 2021. The rapid increase in the use of tablets, smartphones, and other smart devices in organizations can be attributed to the segment's growth. Several new trends, such as the mobile-first approach and Carry Your Own Identity (CYOD), are also assisting organizations in implementing mobility services. For instance, as more businesses adopt Macs, iPhones, and iPads in their operations, demand for mobile device management solutions in the Apple space has increased. During the forecast period, the adoption of these devices will provide lucrative opportunities for segment growth.

The asset management segment is expected to witness a CAGR of 18.6% during the forecast period. The segment growth can be attributed to the reduced equipment downtime and optimal resource utilization requirements. It enables organizations to reduce inventory and stock management costs while also making better use of existing equipment by tracking and managing assets in real time. For instance, in February 2022, Progressive Infotech, a digital workplace service transformation company, implemented Workelevate, a digital workspace service automation platform, to simplify ticket management and elevate the employee experience. These benefits will supplement the growth of the segment over the forecast period.

Enterprise-size Insights

The large enterprise segment dominated the market and accounted for the largest revenue share of 59.3% in 2021. Large corporations are embracing workplace transformation solutions because they are cost-effective and simple to implement. Large corporations offer effective and efficient solutions for system integration, flexibility, and data privacy. Furthermore, large enterprises play an important role in promoting technology-driven ideas and promoting digital awareness. These advantages will help the segment grow during the forecast period.

The Small & Medium Enterprises (SMEs) segment is expected to witness a growth of a CAGR of 19.2% during the forecast period. Having small organizational infrastructure, SMEs are rapidly deploying digital workplace services. It provides several benefits to SMEs, including increased workforce productivity and business efficiency, mobilized desk-based operations, faster time to market, lower costs, and improved customer experience. Furthermore, it allows for better decision-making and the most efficient use of resources and time. These aforementioned factors are propelling the growth of the workplace transformation market in SMEs during the forecast period.

End-use Insights

The BFSI segment dominated the market and accounted for the largest revenue share of 22.9% in 2021. The growing adoption of enterprise mobility management solutions and the rapid growth of digitalization can be attributed to the segment's growth. Several fin-tech, startups, and payment banks, among others, have adopted digital technologies to enable employees with the best tech tools and allow better utilization of resources and time. For instance, Fino Payments Bank, a financial institution, chose Seqrite's mSuite in February 2020 to increase workforce mobility. The company will use Seqrite's mSuite to enable its mobile workforce to access enterprise data and applications while on the go, while also allowing IT teams to manage and control the devices securely. These factors are driving the growth of the segment in the market for workplace transformation.

The healthcare segment is anticipated to witness a CAGR of 19.5% during the forecast period. The growing demand for electronic data across patient outreach and operation channels is expected to propel the industry forward. For instance, healthcare providers can use healthcare apps on patients' smartphones to measure heart rates, blood pressure, and glucose levels. Furthermore, it improves the patient experience by allowing for better decision-making and the most efficient use of resources and time. These factors are driving the growth of the segment during the forecast period.

Regional Insights

North America dominated the market for workplace transformation and accounted for a revenue share of 34.3% in 2021. The regional growth can be attributed to the increasing adoption of emerging technologies, such as BYOD, AI, and enterprise mobility management solutions, among others. Several workplace transformation providers in the region are rapidly adopting cloud technologies and incorporating AI into their service offerings. In addition to this, the region has a strong demand for software and robotics solutions, owing to high manufacturing, retail, and automotive activity. This ultimately propels the development of the market in the region over the forecast period.

In Asia Pacific, the market for workplace transformation is expected to witness a significant CAGR of 19.4% over the forecast period due to the rapid adoption of digitization by different industry and service sectors. Several companies in the region are encouraging widespread adoption of cloud-based technology and BYOD with large-scale acceptance of digital workplace services by enterprises. Furthermore, rapid economic development, globalization, and foreign direct investment are some of the factors driving the growth of the regional market during the forecast period.

Key Companies & Market Share Insights

Market players are observed to invest resources in research and development activities to support growth and enhance their internal business operations. Companies can be seen engaging in mergers and acquisitions and partnerships to further upgrade their products and gain a competitive advantage in the market for workplace transformation. They are effectively working on new product development, and enhancement of existing products to acquire new customers and capture more market shares. For instance, in July 2021, Accenture announced the acquisition of Workforce Insight, a business management consultancy, to enhance its workforce management capabilities and supports its ability to deliver Human Resources (HR) transformation to its clients. With this acquisition, Accenture will expand its planning capabilities and advisory, and provide complementary data and analytics technology solutions to its clients. Some of the prominent players in the workplace transformation market include:

• Accenture

• NTT Data Corporation

• Cisco Systems, Inc.

• Atos

• Hewlett Packard Enterprise Development (HPE) LP

• Capgemini

• Citrix Systems

• Unisys Corporation

• International Business Machines Corporation

• Intel Corporation

Workplace Transformation Market 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 2017 to 2030. For the purpose of this study, Grand View Research has segmented the global workplace transformation market report based on service, enterprise size, end-use, and region:

• Service Outlook (Revenue, USD Million, 2017 - 2030)

  • Application Management

  • Asset Management

  • Desktop Virtualization

  • Enterprise Mobility & Telecom

  • Field Services

  • Service Desk

  • Unified Communication and Collaboration

  • Workplace Automation

  • Workplace Upgradation & Migration

  • Others (Data Center Transformation Services and Network Management Services)

• Enterprise Size Outlook (Revenue, USD Million, 2017 - 2030)

  • Large Enterprise

  • Small & Medium Enterprise (SME)

• End-use Outlook (Revenue, USD Million, 2017 - 2030)

  • BFSI

  • Government

  • Healthcare

  • IT & Telecom

  • Manufacturing

  • Media & Entertainment

  • Retail

  • Others (Education, Transportation & Logistics, and Energy and Utilities)

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

  • Asia Pacific

    • China

    • India

    • Japan

  • Latin America

    • Brazil

  • Middle East & Africa