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According to a new report Global Workplace Transformation Market, published by KBV research, The Global Workplace Transformation Market size is expected to reach $33.4 billion by 2026, rising at a market growth of 24.3% CAGR during the forecast period. The growing trend of connected workplaces is the main driving force for the market. Cooperation services have become the face of digital and connected workplaces, offering an end-user specified environment where a user can access the workplace from anywhere and communicate from any computer to other employees.
The rapid growth in organizations’ usage of laptops, smartphones, and other mobile devices is driving the mobility services. Various emerging industry developments such as Bring Your Own Device (BYOD), Mobile-first strategy, and Carry Your Own Identity (CYOI) are also helping companies introduce mobile services for enterprises.
The segment of asset management services is projected to be experiencing substantial growth over the forecast period. Resource management is the strength of the IT infrastructure of any company, because the only assets in any IT environment are the software and hardware. Modern enterprise asset management systems are gradually being implemented by companies to maximize the value and usage of company properties. Therefore the segment is expected to expand steadily over the next years.
The large enterprise segment is projected to account for the highest revenue share in the workplace transformation market over the forecast period. Large organizations are implementing strategies for organizational change, because they deliver cost savings and are easy to introduce. Effective and efficient solutions are essential for large organizations, as they require ease of system integration, flexibility and data privacy.
Owing to the rapid adoption of enterprise mobility services, the BFSI industry is expected to dominate the market over the forecast period, driven by the growth of digitisation. In addition, numerous policy regulations and digitalisation development in emerging economies such as India and China are driving the labor transformation market.
North America dominated the workplace transformation market in 2019. In terms of technology adoption the region is considered the most advanced region. The financial role of the country enables it to make significant investments in leading technologies and instruments for productive project operations.
Due to the increasingly rising number of SMEs and the expanding service sector, Asia Pacific is presumed to emerge as the fastest growing regional market in the next eight years. Rising mobile users and increasing online trading are some of the factors that are likely to drive the growth of the region's workplace transformation market.
Structural Insights: https://www.kbvresearch.com/workplace-transformation-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Accenture PLC, Cisco Systems, Inc., Atos Group, Hewlett Packard Enterprise Company, Cognizant Technology Solutions Corporation, HCL Technologies Ltd. (HCL Enterprises), Citrix Systems, Inc., Wipro Limited, IBM Corporation, Tata Consultancy Services Ltd., Infosys Limited, Intel Corporation.
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