Workplace Transformation Market Trends, Industry & Size 2031

Report Description

Workplace Transformation Market Outlook

The Workplace Transformation Market size was USD 5.39 Billion in 2022 and is likely to reach USD 27.60 Billion by 2031, expanding at a CAGR of 19.9% during 2023–2031. The growth of the market is attributed to the rise in the trend for connected workplaces.

Workplace transformation refers to redesigning of workspaces by adopting different types of work, people, and technology to make the place suitable and flexible for execution of various actions smoothly and effectively.

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Technology development is one of the key factors for workplace transformation as it provides various means that help employees to perform their task easily in their respective workplaces. These services comprise of several processes ranging from fundamental business applications to instant messaging, collaboration, enterprise mobility, virtualization, and workplace automation solutions.

The impact of COVID-19 pandemic on workplace transformation market is significantly less as the market remains steady. Moreover, adoption of technologies, transition in workplace to employee-centric from business-centric, and demand for remote profile have remained on track.

Market Trends, Drivers, Restraints, and Opportunities

• Rising adoption of new methods such as Bring Your Own Devices and accessing corporate data with the help of enterprise mobility applications are expected to drive the market growth in the coming years.
• Changing nature of workplace and processes supported by reorganizing and restructuring is anticipated to fuel the market growth.
• Issues related to implementation of long processes and complexity involved in workplace transformation by organizations are major challenges. These factors are expected to hamper the market growth during the targeted period.
• Increasing use of personal devices to access corporate data makes organizations more vulnerable to cyber-attacks, which can act as a major restraining factor of the market.
• Adoption of workplace transformation by small & medium enterprises is predicted to provide potential growth opportunities for the market.

Scope of Workplace Transformation Market Report

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

Workplace Transformation Market Segment Insights

Small & medium enterprise segment to grow at a rapid pace

Based on enterprise sizes, the global workplace transformation market is bifurcated into small & medium enterprise and large enterprise. The small & medium enterprise segment is expected to grow at a rapid pace during the forecast period owing to the swift implementation of workplace transformation as per the infrastructure. However, the large enterprise segment is anticipated to hold a key share of the market in the coming years attributed to workplace transformation solutions implemented by large enterprises as they are cost-effective and uncomplicated process of implementation.

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Enterprise mobility & telecom segment to account for large market share

On the basis of service types, the market is segregated into unified communication & collaboration, workplace automation, field services, service desk, application management, asset management, desktop virtualization, enterprise mobility & telecom, workplace upgradation & migration, and others. The enterprise mobility & telecom segment is anticipated to account for large market share and is projected to continue its dominance during the forecast period. These services ensure work continuity regardless of location and increase the organization's overall productivity & efficiency.

On the other hand, the asset management segment is anticipated to rise at a considerable rate during the forecast period attributed to modern enterprise asset management services used by organizations to maximize the value and use of the assets.

Healthcare segment to expand at a considerable CAGR

Based on end-users, the market is segmented into BFSI, IT & telecom, retail, manufacturing, government, healthcare, media & entertainment, and others. The healthcare segment is anticipated to expand at a considerable CAGR during the forecast period owing to rise in demand for electronic data across patient outreach and operation channels.

The rapid growing number of clients and adoption of scalable business strategies are required to ensure that patients are handled efficiently. However, the BFSI segment is expect to hold considerable market share during the projected timeline attributed to the massive adoption of enterprise mobility services, augmented by the growth of digitalization.

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North America is anticipated to constitute a key market share

In terms of regions, the global workplace transformation 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 major adoption of workplace transformation and deemed as the advanced region for technology adoption. However, the market of Asia Pacific is anticipated to expand at a rapid pace during the forecast period attributed to the rise in number of small & medium enterprises and the expanding service sector in the region.

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