Digital Workplace Market

Digital Workplace Market

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Raksha

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Raksha Sharma

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Shruti Bhat

The digital workplace market size was valued at USD 33.13 Bn in 2022 and is projected to reach USD 182. 92 Bn by 2031, expanding at a CAGR of 22.9 % during the forecast period, 2023-2031. The growth of the market is attributed to the increasing digitization and growing demand for flexibility in terms of work-life balance.

Digital workplace is a modern and virtual form of the traditional workplace. It helps employees perform efficiently and effectively without disrupting ongoing operations. Computers, laptops, virtual assistant technology, smartphone devices, and immersive workspaces are all part of the digital workplace ecosystem.

Global Digital Workplace Market Outlook

There are a variety of solutions, software, and technologies available that make working at the office simple, comfortable, and flexible for employees. The digital workplace technologies offers an employee-friendly work environment with a great work balance.

Cloud-based solutions such as Artificial Intelligence (AI), Virtual Reality (VR), and the Internet of Things (IoT) are enhancing flexibility while also providing advancements and advantages at the workplace. It plays an important role in automating manual processes and creating various opportunities for organizations’ growth by improving the productivity of the employees.

Digital workplace solutions offer self-service education to employees. It aims to enhance the user’s experience with easy system management and maintenance practices. Moreover, it reduces the cost of the company with the increasing acceptance and popularity of hybrid work.

Digital transformation has become one of the major top-priority aspects for an end number of organizations. It helps in streamlining the process and to keep up with the rapidly changing digital landscape. Utilizing digital technologies has brought new innovations in business processes.

COVID-19 pandemic impact on the digital workplace market size is significantly less as the market remains steady. Moreover, the adoption of technologies, the transition in the workplace from business-centric to employee-centric, and the demand for remote profiles have kept the market growth on track.

Digital Workplace Market Dynamics

Digital Workplace Market Dynamics

Drivers

High demand for flexibility and improving the employee experience is driving the digital workplace market. Organizations gradually enable employees to bring their own devices to work, necessitating a workplace change to encourage the employees. Further, the wide adoption of the digital workplace technologies by small & medium enterprises is projected to boost market development in the coming years.

Restraints

Growing concerns about cyber-attacks on digital workplace services platforms are likely to restrain market growth in the forecast period. Increasing usage of social media at work may cause distraction impacting employee productivity hindering the digital workplace market.

Opportunities

Increasing demand from employees for remote working capabilities to achieve work-life balance is predicted to provide potential growth opportunities for the market. Moreover, increasing use of technological advancements in various companies is propelling the market growth of the digital workplace services.

Scope of Digital Workplace Market Report

The report on the digital workplace market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Digital Workplace Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2020–2021

Forecast Period

2022–2031

Segmentation

Organization (Large Enterprises and Small & Medium Enterprises), Component (Services and Solutions), and End-user (Manufacturing, Retail & Consumer Goods, BFSI, IT & Telecommunication, and Healthcare & Pharmaceuticals)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Digital Workplace Market Size and Analysis, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Wipro Limited; IBM; DXC Technology Company; HCL Technologies Limited; Atos SE; NTT Data Corporation; Citrix Systems, Inc.; Tata Consultancy Services Limited; and Accenture plc; Infosys Limited; Trianz; Capgemini; Mphasis; and Tech Mahindra Limited

Digital Workplace Market Segment Insights

Based on organization, the global digital workplace market is bifurcated into large enterprises and small & medium enterprises. The large enterprise segment is expected to grow at a rapid pace during the forecast period, owing to the adoption of the digital workplace services to provide an improved workplace experience for their employees.

The small & medium enterprises segment is expected to register a considerable CAGR during the forecast period, due to the need for collaboration and communication tools, which help in boosting employees’ productivity and efficiency.

On the basis of component, the market is bifurcated into services and solutions. The service segment is anticipated to witness a robust market during the forecast period owing to the wide availability of professional and managed services such as desktop virtualization and managed mobility offered to major companies. In large enterprises, these services facilitate the adoption of the digital workplace solutions due to rising adoption of cloud-based platforms

The solution segment is anticipated to expand at a considerable rate during the forecast period. Solutions are obtaining appeal attributed to the benefits they offer such as greater resource usage, which leads to higher-quality security and application delivery.

Digital Workplace Market Components

Based on end-user, the market is segmented into manufacturing, retail & consumer goods, BFSI, IT & telecommunication, healthcare & pharmaceuticals, and others. The IT & telecommunication segment is anticipated to expand at a considerable CAGR during the forecast period, owing to increasing trends for remote working, rapid acceptance of software services, and Bring Your Own Device (BYOD) across business operations of the IT sector is likely to boost the market growth.

The healthcare & pharmaceuticals segment is expected to witness considerable growth during the forecast period. The advent of digital workplace technologies has not only transformed the healthcare business in terms of securing critical patient information but it has also improved its usability. This has helped to improve patient care.

In terms of region, the global digital workplace market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period owing to the major adoption of the digital workplace solutions in the organizational culture in the region. However, the market of Asia Pacific is anticipated to expand at a rapid pace during the forecast period, attributed to the presence of major IT sectors and the growing retail sector in rising economies across the region.

Segments

The global digital workplace market has been segmented on the basis of

Organizations

  • Large Enterprises
  • Small & Medium Enterprises

Components

  • Service
  • Solution

End-users

  • Manufacturing
  • Retail & Consumer Goods
  • BFSI
  • IT & Telecommunication
  • Healthcare & Pharmaceuticals

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • IBM
  • Wipro Limited
  • DXC Technology Company
  • HCL Technologies Limited
  • Atos SE
  • NTT Data Corporation
  • Citrix Systems, Inc.
  • Tata Consultancy Services Limited
  • Accenture plc
  • Infosys Limited
  • Trianz
  • Capgemini
  • Mphasis
  • Tech Mahindra Limited

Competitive Landscape

Key players in the global digital workplace market are Wipro Limited; IBM; DXC Technology Company; HCL Technologies Limited; Atos SE; NTT Data Corporation; Citrix Systems, Inc.; Tata Consultancy Services Limited; Accenture plc; Infosys Limited; Trianz; Capgemini; Mphasis; and Tech Mahindra Limited

These major companies adopt various business development strategies including mergers, acquisitions, partnerships, collaboration, product launches, and production capacity expansion to expand their consumer base and enhance their market share.

  • In December 2021, Trianz announced a partnership with Workgrid Software, to deliver a modern workplace with digital assistance. This helps to bring predictive analytics, enterprise social platforms, and intelligent automation to enable productivity and collaboration at the workplace.
  • In June 2020, Tata Consultancy Services Limited (TCS) launched Digital Acceleration Center (DAC) with the support of the Singapore Economic Development Board, to assist businesses in Singapore during the covid-19 pandemic.
  • In May 2020, IBM announced the launch of Talent & Transformation, a type of business solution that uses Artificial Intelligence (AI) to help human resources to enhance their skills gap.

  Digital Workplace Market Key Players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Digital Workplace Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Digital Workplace Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Digital Workplace Market - Supply Chain
  4.5. Global Digital Workplace Market Forecast
     4.5.1. Digital Workplace Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Digital Workplace Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Digital Workplace Market Absolute $ Opportunity
5. Global Digital Workplace Market Analysis and Forecast by End Users
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by End Users
     5.2.2. Y-o-Y Growth Projections by End Users
  5.3. Digital Workplace Market Size and Volume Forecast by End Users
     5.3.1. Manufacturing
     5.3.2. Retail & Consumer Goods
     5.3.3. BFSI
     5.3.4. IT & Telecommunication
     5.3.5. Healthcare & Pharmaceuticals
  5.4. Absolute $ Opportunity Assessment by End Users
  5.5. Market Attractiveness/Growth Potential Analysis by End Users
6. Global Digital Workplace Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Digital Workplace Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Digital Workplace Demand Share Forecast, 2019-2026
7. North America Digital Workplace Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Digital Workplace Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Digital Workplace Market Size and Volume Forecast by End Users
     7.4.1. Manufacturing
     7.4.2. Retail & Consumer Goods
     7.4.3. BFSI
     7.4.4. IT & Telecommunication
     7.4.5. Healthcare & Pharmaceuticals
  7.5. Basis Point Share (BPS) Analysis by End Users
  7.6. Y-o-Y Growth Projections by End Users
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Digital Workplace Demand Share Forecast, 2019-2026
8. Latin America Digital Workplace Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Digital Workplace Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Digital Workplace Market Size and Volume Forecast by End Users
     8.4.1. Manufacturing
     8.4.2. Retail & Consumer Goods
     8.4.3. BFSI
     8.4.4. IT & Telecommunication
     8.4.5. Healthcare & Pharmaceuticals
  8.5. Basis Point Share (BPS) Analysis by End Users
  8.6. Y-o-Y Growth Projections by End Users
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Digital Workplace Demand Share Forecast, 2019-2026
9. Europe Digital Workplace Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Digital Workplace Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Digital Workplace Market Size and Volume Forecast by End Users
     9.4.1. Manufacturing
     9.4.2. Retail & Consumer Goods
     9.4.3. BFSI
     9.4.4. IT & Telecommunication
     9.4.5. Healthcare & Pharmaceuticals
  9.5. Basis Point Share (BPS) Analysis by End Users
  9.6. Y-o-Y Growth Projections by End Users
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Digital Workplace Demand Share Forecast, 2019-2026
10. Asia Pacific Digital Workplace Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Digital Workplace Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Digital Workplace Market Size and Volume Forecast by End Users
     10.4.1. Manufacturing
     10.4.2. Retail & Consumer Goods
     10.4.3. BFSI
     10.4.4. IT & Telecommunication
     10.4.5. Healthcare & Pharmaceuticals
  10.5. Basis Point Share (BPS) Analysis by End Users
  10.6. Y-o-Y Growth Projections by End Users
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Digital Workplace Demand Share Forecast, 2019-2026
11. Middle East & Africa Digital Workplace Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Digital Workplace Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Digital Workplace Market Size and Volume Forecast by End Users
     11.4.1. Manufacturing
     11.4.2. Retail & Consumer Goods
     11.4.3. BFSI
     11.4.4. IT & Telecommunication
     11.4.5. Healthcare & Pharmaceuticals
  11.5. Basis Point Share (BPS) Analysis by End Users
  11.6. Y-o-Y Growth Projections by End Users
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Digital Workplace Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Digital Workplace Market: Market Share Analysis
  12.2. Digital Workplace Distributors and Customers
  12.3. Digital Workplace Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Wipro Limited
     12.4.2. IBM
     12.4.3. DXC Technology Company
     12.4.4. HCL Technologies Limited
     12.4.5. Atos SE
     12.4.6. NTT Data Corporation
     12.4.7. Citrix Systems, Inc.
     12.4.8. Tata Consultancy Services Limited
     12.4.9. Accenture plc
     12.4.10. Infosys Limited
     12.4.11. Trianz
     12.4.12. Capgemini
     12.4.13. Mphasis
     12.4.14. Tech Mahindra Limited

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