The Global Remote Workplace Services Market size is expected to reach $67 billion by 2028, rising at a market growth of 22.3% CAGR during the forecast period.
A remote workplace service is an always-connected environment where employees have immediate access to everything they need to complete their activities. Realizing that work now happens on any device, in any location, and at any time is significant. The focus of remote work initiatives is on how technology is altering the kinds of tasks that individuals perform as well as how and where the work is completed.
The main objective of implementing remote workplace services in a firm is to produce an employee experience that is comparable to or better than working in an office environment. Remote workplace service enables businesses to successfully interact and collaborate with employees who work in an office, remotely, or in a hybrid environment. As a result of higher productivity and technological advancement, workplaces are becoming increasingly digitalized.
The remote work and hybrid work scenarios have compelled the need for executives to evaluate how other modifications to the employment paradigm can work for them. Open talent and flexible talent are broad concepts that apply to a variety of situations, such as local freelancers working on-site, globally dispersed online contractors, and innovation sourcing through competitions or tournaments. Conventionally, flexible models have been used for three things.
First, flexibility enables firms to adjust personnel levels up and down to accommodate changes in labor demand. Secondly, flexible models enable small-task outsourcing in circumstances where it would not be appropriate to hire a full-time equivalent and when the overhead associated with conventional temporary employment solutions would cause the project to stall or become unaffordable. Lastly, outside of standard hiring channels, flexible talent strategies give access to creative or diversified skill sets.
The pandemic is negatively hurting economies and numerous businesses in different nations as a result of travel restrictions, widespread lockdowns, and business closures. In order to provide the finest services to their customers, the vendors in the workplace services sector continued to operate remotely. Several market participants remained in a strong position to help their consumers through the crisis even during the pandemic. The use of remote working by enterprises has increased the trend for remote workplace services, and the COVID-19-induced economic instability fosters the market's growth.
A remote office provides a central platform from which all projects, corporate data, and apps can be accessed, thus saving time and enhancing employee satisfaction. The importance of well-being, especially emotional wellness, cannot be overstated for remote workers. Engagement levels may be negatively impacted by the serious issue of mental health. By showcasing the strengths of their employees and upholding the core principles of honesty and trust, employers may find advantages within the challenges. Coworker social distractions are less common for employees who work remotely, which can increase office efficiency.
Remote workers reduce the amount of real estate needed, suggesting that businesses pay substantially less on office space rental or acquisition. A remote worker also spends less on overhead costs such as computers, phones, electricity, air conditioning, and heating associated with maintaining an office. A corporation can save money on utilities and rent as they don't need to rent a larger place because the bulk of its employees works from home. The digitalization of the workplace involves maximizing productivity with technology.
Since SaaS-based services are affordable, scalable, adaptable, and can be chosen based on the pay-as-you-use approach, SMEs favor remote workplace platform solutions. But there are security issues with cloud deployment elements, which might result in the leaking of vital corporate data. Additional security risks include account takeovers, insider threats, malware injections, shared vulnerabilities, unsecure Application Programming Interfaces (APIs), and data loss in platforms used for remote workplace services.
Based on component, the remote workplace services market is categorized into solutions (unified communication & collaboration, unified endpoint management, and enterprise mobility management) and services (managed services and professional services). The services segment garnered a significant revenue share in the remote workplace services market in 2021. It consists of integration and implementation services, support and maintenance for training, and consulting services. These services assist businesses in successfully and efficiently aligning their digital workspaces.
On the basis of organization size, the remote workplace services market is bifurcated into large enterprises and SMEs. The small and medium enterprises segment procured a substantial revenue share in the remote workplace services market in 2021. Despite having a small organizational infrastructure, SMEs are quickly implementing digital workplace services. It provides SMEs with a number of benefits, including improved client experiences, a shorter delivery time, lower costs, and higher staff productivity and corporate efficiency.
Based on deployment type, the remote workplace services market is segmented into on-premises and cloud. The on-premise segment witnessed the maximum revenue share in the remote workplace services market in 2021. The IT department of the corporation oversees an on-premise remote workplace solution that is hosted on the organization's property. It is still frequently chosen by IT professionals seeking better control over the data and software in use. It is also seen as a guarantee of high levels of security, and compliance as the traditional method of installing and running corporate software.
On the basis of verticals, the remote workplace services market is divided into telecommunication, banking, financial services, & insurance (BFSI), IT & ITeS, manufacturing, retail & consumer goods, media & entertainment, healthcare, government, and other verticals. The telecommunication segment acquired a significant revenue share in the remote workplace services market in 2021. Broadband service providers will be under pressure to expedite their rollout in order to gain a competitive edge over rival service providers as a result of the rising demand for telecommunication.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 16.3 Billion |
| Market size forecast in 2028 | USD 67 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 22.3% from 2022 to 2028 |
| Number of Pages | 352 |
| Number of Tables | 564 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Component, Deployment Type, Organization Size, Vertical, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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On the basis of region, the remote workplace services market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North American region witnessed the largest revenue share in the remote workplace services market in 2021. The rising adoption of cutting-edge technologies, including artificial intelligence, bring-your-own-device (BYOD), and enterprise mobility management solutions, among others, is responsible for the expansion of the regional digital workplace.
Free Valuable Insights: Global Remote Workplace Services Market size to reach USD 67 Billion by 2028
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; IBM Corporation, Tata Consultancy Services Ltd., Hewlett-Packard Enterprise Company, Capgemini SE, Infosys Limited are the forerunners in the Remote Workplace Services Market. Companies such as HCL Technologies Ltd. (HCL Enterprises), NTT Data Corporation and VMware, Inc. are some of the key innovators in Remote Workplace Services Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, NTT Data Corporation, Wipro Limited, Atos Group, Infosys Limited, Tata Consultancy Services Ltd., Hewlett-Packard enterprise Company, HCL Technologies Ltd., Capgemini SE, VMware, Inc., and Unisys Corporation.
By Component
By Deployment Type
By Organization Size
By Vertical
By Geography
The global Remote Workplace Services Market size is expected to reach $67 billion by 2028.
Better Initiatives And Employee Engagement Along With Increased Productivity are driving the market in coming years, however, Increased Chances Of Security Breaches In Working Remotely restraints the growth of the market.
IBM Corporation, NTT Data Corporation, Wipro Limited, Atos Group, Infosys Limited, Tata Consultancy Services Ltd., Hewlett-Packard enterprise Company, HCL Technologies Ltd., Capgemini SE, VMware, Inc., and Unisys Corporation.
The Solution segment acquired maximum revenue share in the Global Remote Workplace Services Market by Component in 2021 thereby, achieving a market value of $47.2 billion by 2028.
The North America market dominated the Global Remote Workplace Services Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $23.9 billion by 2028.
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