Digital Workplace Market Set to Flourish with 21.3% CAGR by 2026

This research report categorizes the digital workplace market based on components, deployment, organization size, vertical, and region.


Northbrook, IL 60062 -- (SBWIRE) -- 08/30/2023 -- The global Digital Workplace Market size is expected to grow from USD 22.7 billion in 2020 to USD 72.2 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 21.3% during the forecast period, according to research report by MarketsandMarkets™.

Key factors that are expected to drive the growth of the market are the cost optimization and improved productivity and availability of new technology and tools. However, lack of thought leadership among organization and clear and defined Return on Investment (ROI) are expected to limit the market growth. Apart from drivers and restraints, there are a few lucrative opportunities for digital workplace providers in the market. Increasing adoption of cloud and enterprise mobility services among enterprises and increasing adoption of workplace transformation services among SMEs are some of the opportunities for vendors in the digital workplace market. These opportunities are expected to present new market growth prospects for digital workplace vendors.

Browse in-depth TOC on "Digital Workplace Market"

122 - Tables
48 - Figures
199 – Pages

Download PDF Brochure:

Enterprise mobility and management segment to hold a larger market size during the forecast period

Enterprise Mobility Management (EMM) is a set of services and technologies designed to secure corporate data on employees' mobile devices. While it can manifest itself in various ways, it generally consists of a suite of mobile management systems and services that protect intellectual property; specific processes that ensure the security of data; and systems that must integrate with a wide range of enterprise IT systems to meet a range of corporate concerns. The EMM emerged in large part due to the rise of Bring-Your-Own-Device (BYOD) programs. As more organizations embraced flexible policies, they turned to EMM to overcome the pitfalls of enabling personally-owned devices to access corporate data. EMM is the beneficiary strategy for organizations and their people to significantly reduce the workloads, empower IT teams to troubleshoot rapidly, improve productivity and security, and reduce costs.

SMEs segment to grow at the highest CAGR during the forecast period

SMEs are defined as organizations with an employee strength ranging from 1 to 1,000. SMEs have a low marketing budget and often lack the resources and capabilities for effective marketing orchestration. The majority of SMEs are prone to cyberattacks as compared to large enterprises due to the lack of security infrastructure. According to a survey, nearly 43% of cyberattacks occur in small enterprises. Hence, SMEs need robust infrastructure to fight against cyberattacks and avoid data loss and downtime. In comparison with the large enterprises segment, the SMEs segment is facing various challenges in terms of resources. SMEs focus on reducing the overall cost and adopt enhanced infrastructures. They require a flexible payment model for better cost optimization of their business processes.

Telecommunication and ITeS vertical to grow at the highest CAGR during the forecast period

The telecommunication and ITes vertical is one of the fastest-growing verticals with respect to the adoption of advanced technologies, such as cloud computing, big data analytics, DevOps, digital stores, and social networks. The telecom companies have to manage a huge customer base; fulfill continuously changing customer demands; and offer a variety of mobile services, TV, and phone and wireless services through various devices. Handling such complex and confidential data makes it important for this vertical to adopt digital workplace practices, enhance customer satisfaction, adopt digitalization, and maintain its competitive position. The rapid advancements in cloud computing and the Internet of Things (IoT) technologies have led telecom companies to leverage their existing infrastructures to accommodate these technologies. The software systems needed in the telecommunication and ITeS vertical have to be highly robust and reliable, as their failure can lead to huge revenue losses.

North America to account for the highest market share during the forecast period

North America is estimated to hold the largest market size in the global Digital workplace market in 2020, and the trend is expected to continue during the forecast period. Presence of huge number of enterprises and the abundant technical expertise are the major growth factors for increasing adoption of digital workplace solutions and services across region. The US is estimated to hold a larger market share in 2020 in the North American digital workplace market, and the trend is expected to continue until 2026. It is a technologically advanced country, due to the high level of technology awareness, presence of many technologically advanced players, and high IT infrastructure budgets of companies in the region.

Get Free Sample Report:

The Digital workplace market comprises major providers, such as Atos (France), Cognizant (US), IBM (US), Wipro (India), Infosys (India), Zensar (India), Accenture (Ireland), Fujitsu (Japan), HCL Technology (India), DXC Technology (US), NTT Data (Japan), Unisys (US), HPE (US), TCS (India), Sonda (Chile), KissFlow (India), Capgemini (France), and others. The study includes an in-depth competitive analysis of key players in the Digital workplace market with their company profiles, recent developments, COVID-19 developments, and key market strategies.

Key Dynamic Factors For Digital Workplace Market:

The COVID-19 epidemic hastened the shift to remote work, which brought the idea of the digital workplace to the fore. Remote work and hybrid work models. The necessity for tools and platforms that enable seamless communication, collaboration, and resource access for both remote and in-office employees is being recognised more and more by organisations. The introduction of hybrid work models, in which people work both onsite and remotely, made the digital office environment more complex.

Unified communications and collaboration technologies: In the digital workplace, collaboration platforms and tools have become essential. Real-time communication, video conferencing, document sharing, and project management solutions are becoming more and more popular. Various communication channels (such as voice, video, and messaging) were to be combined into a single platform as part of unified communications strategy in order to increase productivity and break down communication silos.

Employee Experience and Engagement: In the digital workplace, employee experience has become vital. Companies have realised that equipping workers with integrated, user-friendly digital tools improves engagement, job happiness, and overall performance. Solutions that emphasise customization, usability, and user-centric design have gained popularity.

Data security and privacy have become crucial as a result of the digital workplace's heavy reliance on technology. The three main issues were safeguarding private data, ensuring safe access to resources, and observing data protection laws. Encryption, access limits, and multi-factor authentication were just a few of the strong security measures that were supplied by the solutions.

Artificial intelligence and automation: Chatbots, virtual assistants, and other AI-driven tools have found use in the digital workplace. These technologies sought to increase productivity and decrease manual burdens by streamlining procedures, providing quick answers to employee questions, and automating repetitive tasks.

Software-as-a-Service (SaaS) models and cloud computing have become increasingly prevalent in the ecosystem of the digital workplace. Without the requirement for a sizable on-premises infrastructure, cloud technology provides scalability, flexibility, and simpler tool access. This was especially useful for distant and remote workforces.

Integration and interoperability: As more businesses embraced various digital tools and platforms, there was an increased demand for the smooth integration of various programmes and apps. The importance of integration solutions that could link different tools and systems to produce a single digital workspace increased.

Implementing a digital workplace frequently needed changes in employee behaviour as well as workflows and procedures. In order to enable a seamless transition to new digital tools, successful adoption depended on efficient change management tactics that included employee training, communication, and support.

Mobile accessibility: It's becoming more crucial to be able to use mobile devices to access digital workplace tools and resources. Employees were able to maintain communication and productivity while on the go thanks to mobile apps and responsive design.

Buy Now:

Competitive and Segmentation Analysis:

The market for digital workplaces is characterised by fierce competition and a wide variety of sectors that serve the changing needs of contemporary organisations. To deliver complete digital workplace solutions, a variety of businesses compete, from well-known tech giants to specialised solution providers and forward-thinking startups. These solutions cover a broad range of instruments and platforms intended to improve employee satisfaction, productivity, and interaction inside organisations.

The unique requirements of diverse sectors and organisational sizes are what drive market segmentation. Businesses in industries including banking, healthcare, manufacturing, and technology all have different needs for the digital workplace that are driven by compliance rules, security issues, and industry-specific workflows. Similar to large companies, small and medium-sized organisations look for solutions that are appropriate for their size, frequently focusing on affordability and ease of use.

The breadth and depth of features provided, user experience design, security features, scalability, and integration capabilities are some examples of the variables that influence competitive dynamics. Vendors who excel at building unified, smooth digital experiences while simultaneously taking data privacy issues into account get an advantage over rivals. Additionally, cutting-edge features like workflow automation, analytics capabilities, and virtual assistants driven by AI help to differentiate products on the market.

Software-as-a-Service (SaaS) models and cloud-based solutions have upended the status quo in the software industry by granting remote and distributed workforces more accessibility and freedom. Vendors that can offer mobile accessibility, cross-device interoperability, and real-time collaboration tools are positioned favourably as remote work and hybrid models become the norm.

The competitiveness of vendors is also greatly impacted by change management, training, and customer support. The best solutions are those that place a high priority on helping organisations with seamless adoption and continuing support.

In general, the market for digital workplaces exhibits a dynamic interaction of competition, innovation, and segmentation, reflecting the variety of needs and dynamic character of contemporary work environments. Organisations must carefully consider their particular needs and choose providers who support their strategic objectives, market conditions, and workforce dynamics.

Browse Other Reports:

Edge Computing Market - Global Forecast to 2027

Identity Verification Market - Global Forecast to 2026

Data Pipeline Tools Market - Global Forecast to 2027

Wi-Fi Market - Global Forecast to 2027

Public Cloud Market - Global Forecast to 2027

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit MarketsandMarkets™ or follow us on Twitter, LinkedIn and Facebook.

Mr. Aashish Mehra
MarketsandMarkets™ INC
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Research Insight:
Visit Our Website:
Content Source: