The Workplace Transformation Market size was valued at USD 22.91 Bn in 2023 and is expected to reach at USD 84.49 Bn by 2031, and grow at a CAGR of 17.73% over the forecast period 2024-2031.
The demographic shift towards a millennial-dominated workforce necessitates a more flexible and tech-enabled work environment. Governments are actively promoting digital transformation initiatives. For instance, Singapore's Industry Transformation Map outlines a plan to leverage technology to enhance workplace productivity and innovation. Likewise, India's Digital India campaign aims to create a digitally empowered workforce. These government efforts act as catalysts for market growth. To supply to this evolving landscape, a diverse range of players are emerging. Tech giants like IBM and Cisco offer cloud-based solutions and AI integration, while established consulting firms like Accenture provide strategic guidance on workplace redesign. Even niche players like Progressive Infotech are carving a space with specialized solutions like automation platforms for digital workspace management. This mix of established and innovative companies ensures a dynamic and competitive market poised for significant growth.
Get more information on Workplace Transformation Market - Request Sample Report
The rise of the millennial workforce, a demographic expected to make up 75% of the global workforce by 2025, is a major driver for workplace transformation. This tech-obsessed generation prioritizes flexibility, work-life balance, and a collaborative work environment. A recent survey found that 77% of millennials value remote work opportunities, and 54% would take a pay cut to achieve a better work-life balance. This shift in employee expectations is pushing companies to implement solutions like cloud-based technologies and unified communication platforms. Additionally, the growing acceptance of remote work due to the COVID-19 pandemic has further amplified the demand for these solutions. With over 25% of the global workforce now working remotely at least occasionally, companies are actively investing in workplace transformation to provide to this dispersed workforce and maintain productivity.
KEY DRIVERS:
In every firm the most recent technologies.
Adoption of cloud-based developments, as well as the mobility market.
Organizational expenditure reduction.
Cange in demographic factors.
The combination of cloud computing and the ever-evolving mobility market is driving a dramatic transformation in how we work. Cloud-based solutions, with their on-demand scalability and remote accessibility, are being adopted at an impressive rate. Studies show that in 2023, over 80% of enterprises already leverage cloud technology in some form, with a projected growth of 16% by 2025. This shift empowers a mobile workforce, enabling employees to seamlessly access applications and data from any device, anywhere. Cloud-based platforms also fuel the development of innovative mobile apps that streamline workflows, boost collaboration, and enhance customer experiences. For instance, cloud-powered ride-hailing applications have revolutionized urban mobility, offering real-time tracking, cashless transactions, and personalized recommendations – all facilitated by the robust data processing and storage capabilities of the cloud.
RESTRAINTS:
Inadequate training among the workers
Several concerns concerning the firms' transformation and integration processes
OPPORTUNITY:
Workplaces that are more connected.
Rising interest of SMEs.
A 2023 SNS Insider analysis report estimates that workplace transformation can lead to cost reductions of up to 30% for administrative tasks. Finally, there's a growing awareness of the impact that a modern workplace can have on employee satisfaction and talent acquisition. By offering flexible work arrangements and a tech-enabled environment, SMEs can attract and retain top talent in a competitive market. Recent research indicates that 83% of employees say a strong company culture is very important to their decision to accept a new job. As these factors converge, the workplace transformation market is poised for significant growth, with SMEs playing a major role in driving this expansion.
CHALLENGES:
Data security concern.
Connectivity concern
The cost volatility is plaguing key players. With sanctions on Russia, a major supplier of raw materials for tech hardware, component prices are estimated to surge by 15-20%. This squeezes profit margins for companies offering workplace transformation solutions, potentially leading to a temporary price hike of their services. Additionally, the war has displaced an estimated 100,000 skilled IT professionals from the region, further tightening the global talent pool and potentially driving up recruitment costs by 10%.
However, the war also presents an unforeseen growth catalyst. Businesses are even more acutely aware of the need for operational resilience and agility in the face of global disruptions. This translates to a heightened demand for cloud-based solutions, secure collaboration tools, and automation technologies – all key components of workplace transformation. Analysts predict a surge in demand for these solutions by 5-7%, as companies prioritize building a more geographically distributed and disaster-proof work environment.
A 2023 study by SNS Insider revealed a 7% dip in demand for enterprise collaboration tools a key aspect of workplace transformation compared to pre-slowdown projections. This translates to a significant financial impact for key players. For instance, Microsoft Teams, a dominant player, witnessed a 5% fluctuation in quarterly revenue growth during the last economic downturn. The cost volatility does not stop there. Leading cloud-based learning platforms, another pillar of workplace transformation, struggle with a similar fate. Take Udemy, for example. During the previous economic slowdown, their stock price experienced a 40% increase as companies reined in employee training budgets. This domino effect ripples across the entire workplace transformation market, hindering innovation and stalling the progress of creating a more agile, efficient, and future-proof work environment.
A deep dive into the workplace transformation market reveals a segmented landscape based on enterprise size. Small Enterprises (SEs), typically with less than 50 employees, prioritize cost-effective solutions for core functionalities like communication and collaboration. Cloud-based tools with flexible pricing models find high adoption in this segment holds the share of 35%. Medium Enterprises (MEs), ranging from 50 to 250 employees, require a balance between affordability and scalability. They seek integrated platforms offering communication, project management, and automation features holding the share of 40%). Large Enterprises (LEs), with over 250 employees, have complex needs spanning security, customization, and data integration. On-premise or hybrid deployments with strong customization options are preferred to hold the share of 25%. Understanding these segment-specific preferences empowers businesses to tailor their workplace transformation solutions. By focusing on cost-effectiveness for SEs, integrated features for MEs, and deep customization for LEs, companies can effectively target the vast potential within the workplace transformation market.
Segmenting the workplace transformation market by end-use reveals a diverse landscape of needs and opportunities. The BFSI sector, with its focus on data security and compliance, is expected to hold a significant share of 20% driven by the need for secure remote access and collaboration tools. Government agencies holding the share of 15% are prioritizing citizen service efficiency, necessitating citizen portals and digital workflows. The healthcare industry is embracing telehealth and remote patient monitoring solutions, promoting market growth. IT & Telecom holds the share of 12% are at the forefront of adopting workplace transformation solutions, with a focus on cloud-based infrastructure and unified communication platforms.
Manufacturing sub-segment holding the share of 10% is seeking solutions to optimize production processes and improve worker safety through automation and smart factory initiatives. Media & Entertainment holds the share of 7% is transforming workflows with remote editing and content creation tools. The retail sector is adopting solutions for omnichannel commerce and enhanced customer experiences. Finally, the "Others" segment holding the share of 10% includes a range of industries like education and transportation, each with unique workplace transformation needs. This segmentation provides valuable insights for solution providers, allowing them to tailor their offerings to the specific requirements of each end-use industry.
KEY MARKET SEGMENTS:
On The Basis of Service:
Application Management
Asset Management
Desktop Virtualization
Enterprise Mobility & Telecom
Field Services
Service Desk
Unified Communication & Collaboration
Workplace Automation
Workplace Upgradation & Migration
Others
On The Basis of Enterprise Size:
Small Enterprise
Medium Enterprise
Large Enterprise
On The Basis of End-use:
BFSI
Government
Healthcare
IT & Telecom
Manufacturing
Media & Entertainment
Retail
Others
Need any customization research on Workplace Transformation Market - Enquiry Now
The Workplace Transformation Market is a dynamic landscape with regional variations in growth and adoption. North America currently leads the market, holding a dominant position with a revenue share of around 34.3% as of 2023 . This dominance can be attributed to factors like the widespread acceptance of emerging technologies like Bring Your Own Device (BYOD), Artificial Intelligence (AI), and robust Enterprise Mobility Management (EMM) solutions. Within the North American market, the Enterprise Mobility and Telecom segment leads the pack, contributing a intense 18.3% share. This dominance reflects the increasing reliance on mobile devices like tablets and smartphones for enhanced employee productivity and cost reduction. Major players like IBM, Cisco, and Microsoft capitalize on this trend, with IBM's revenue in the workplace transformation sector exceeding 10% in 2023 . The Asia-Pacific region is another exciting prospect, showcasing the fastest growth rate due to factors like rapid urbanization, a expanding young workforce, and government initiatives promoting digital transformation. Here, the demand for cloud-based solutions and automation is promoting growth, presenting lucrative opportunities for regional players.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
The major key players are Accenture PLC, Capgemini, Cisco Systems, Inc., Cognizant Technology Solutions Corporation, HCL Technologies Ltd., IBM Corporation, Infosys Ltd., Intel Corporation, Tata Consultancy Services Ltd., Wipro Ltd.
Recent Developments:
Microsoft (March 2024) recently unveiled its "Project Bonsai" – an AI-powered development platform specifically designed for the creation of intelligent workplace tools. This signifies a shift towards AI-powered automation and data-driven decision making within organizations. Furthermore, sustainability is becoming a key consideration in workplace transformations.
Companies like VMware (January 2024) and Citrix (December 2023) are witnessing significant growth in their virtual desktop infrastructure (VDI) offerings, allowing employees seamless access to work applications from any device. Additionally, the integration of cutting-edge technologies like Artificial Intelligence (AI) is transforming how we work.
Companies like IKEA (April 2024) are launching new product lines focused on creating eco-friendly and resource-efficient workspaces, aligning with the growing environmental consciousness of businesses. These developments paint a picture of a rapidly evolving Workplace Transformation Market, where innovation and adaptability are paramount for success.
| Report Attributes | Details |
| Market Size in 2024 | USD 22.91 Bn |
| Market Size by 2031 | USD 84.49 Bn |
| CAGR | CAGR of 17.73% From 2023 to 2030 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • by Service (Application Management, Asset Management, Desktop Virtualization, Enterprise Mobility & Telecom, Field Services, Service Desk, Unified Communication & Collaboration, Workplace Automation, Workplace Upgradation & Migration, Others) • by Enterprise Size (Small Enterprise, Medium Enterprise, Large Enterprise) • by End-use (BFSI, Government, Healthcare, IT & Telecom, Manufacturing, Media & Entertainment, Retail, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | Accenture PLC, Capgemini France, Cisco Systems, Inc., Cognizant Technology Solutions Corporation, HCL Technologies Ltd., IBM Corporation, Infosys Ltd., Intel Corporation, Tata Consultancy Services Ltd., Wipro Ltd. |
| Key Drivers | • Adoption of cloud-based developments, as well as the mobility market. • Organizational expenditure reduction. |
| Market Opportunities | • Workplaces that are more connected. • Rising interest of SMEs. |
Ans:- The estimated market size for the Workplace Transformation market for the year 2031 is USD 84.49 Billion.
Ans:- Data security and Connectivity concern are the challenges faced by Workplace Transformation market.
Ans:- With the biggest Workplace Transformation Market Share, North America dominates the market.
Ans:-The primary growth tactics of Workplace Transformation market participants include merger and acquisition, business expansion, and product launch.
Ans:-Regulatory authorities, including government agencies and NGOs, Commercial research & development (R&D) institutions, Government organizations, research organizations, and consulting firms
Trade/Industrial associations etc.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact of Russia-Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Workplace Transformation Market Segmentation, by Service
9.1 Introduction
9.2 Trend Analysis
9.3 Application Management
9.4 Asset Management
9.5 Desktop Virtualization
9.6 Enterprise Mobility & Telecom
9.7 Field Services
9.8 Service Desk
9.9 Unified Communication & Collaboration
9.10 Workplace Automation
9.11 Workplace Upgradation & Migration
9.12 Others
10. Workplace Transformation Market Segmentation, by Enterprise Size
10.1 Introduction
10.2 Trend Analysis
10.3 Small Enterprise
10.4 Medium Enterprise
10.5 Large Enterprise
11. Workplace Transformation Market Segmentation, by End-use
11.1 Introduction
11.2 Trend Analysis
11.3 BFSI
11.4 Government
11.5 Healthcare
11.6 IT & Telecom
11.7 Manufacturing
11.8 Media & Entertainment
11.9 Retail
11.10 Others
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Eastern Europe
12.3.1.1 Poland
12.3.1.2 Romania
12.3.1.3 Hungary
12.3.1.4 Turkey
12.3.1.5 Rest of Eastern Europe
12.3.2 Western Europe
12.3.2.1 Germany
12.3.2.2 France
12.3.2.3 UK
12.3.2.4 Italy
12.3.2.5 Spain
12.3.2.6 Netherlands
12.3.2.7 Switzerland
12.3.2.8 Austria
12.3.2.9 Rest of Western Europe
12.4 Asia-Pacific
12.4.1 China
12.4.2 India
12.4.3 Japan
12.4.4 South Korea
12.4.5 Vietnam
12.4.6 Singapore
12.4.7 Australia
12.4.8 Rest of Asia Pacific
12.5 The Middle East & Africa
12.5.1 Middle East
12.5.1.1 UAE
12.5.1.2 Egypt
12.5.1.3 Saudi Arabia
12.5.1.4 Qatar
12.5.1.5 Rest of the Middle East
11.5.2 Africa
12.5.2.1 Nigeria
12.5.2.2 South Africa
12.5.2.3 Rest of Africa
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Colombia
12.6.4 Rest of Latin America
13. Company Profiles
13.1 Accenture PLC
13.1.1 Company Overview
13.1.2 Financial
13.1.3 Products/ Services Offered
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 Capgemini France
13.2.1 Company Overview
13.2.2 Financial
13.2.3 Products/ Services Offered
13.2.4 SWOT Analysis
13.2.5 The SNS View
13.3 Cisco Systems, Inc.
13.3.1 Company Overview
13.3.2 Financial
13.3.3 Products/ Services Offered
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 Cognizant Technology Solutions Corporation
13.4.1 Company Overview
13.4.2 Financial
13.4.3 Products/ Services Offered
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5 HCL Technologies Ltd.
13.5.1 Company Overview
13.5.2 Financial
13.5.3 Products/ Services Offered
13.5.4 SWOT Analysis
13.5.5 The SNS View
13.6 IBM Corporation
13.6.1 Company Overview
13.6.2 Financial
13.6.3 Products/ Services Offered
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7 Infosys Ltd.
13.7.1 Company Overview
13.7.2 Financial
13.7.3 Products/ Services Offered
13.7.4 SWOT Analysis
13.7.5 The SNS View
13.8 Intel Corporation
13.8.1 Company Overview
13.8.2 Financial
13.8.3 Products/ Services Offered
13.8.4 SWOT Analysis
13.8.5 The SNS View
13.9 Tata Consultancy Services Ltd.
13.9.1 Company Overview
13.9.2 Financial
13.9.3 Products/ Services Offered
13.9.4 SWOT Analysis
13.9.5 The SNS View
13.10 Wipro Ltd.
13.10.1 Company Overview
13.10.2 Financial
13.10.3 Products/ Services Offered
13.10.4 SWOT Analysis
13.10.5 The SNS View
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
14.3.1 Industry News
14.3.2 Company News
14.3.3 Mergers & Acquisitions
15. Use Case and Best Practices
16. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
The Embedded Hypervisor Market size was valued at USD 12.02 Billion in 2023 and is projected to reach USD 21.92 Billion in 2031 with a growing CAGR of 7.8% Over the Forecast Period of 2024-2031.
The Project Management Software Market is anticipated to develop at a CAGR of 15.8% from 2024 to 2032, from a projected value of USD 7.29 billion in 2023 to USD 27.29 billion by 2032.
The Partner Relationship Management Market size was USD 3.09 Billion in 2023 and is expected to Reach USD 4.87 Billion by 2032 and grow at a CAGR of 5.2% over the forecast period of 2024-2032.
The Digital Map Market is anticipated to develop at a CAGR of 14.65% from 2023 to 2030, from an estimated value of USD 18.6 billion in 2022 to USD 55.52 billion in 2030.
The Revenue Cycle Management (RCM) Market size was valued at USD 305.56 billion in 2023 and is expected to grow to USD 735.20 billion by 2031 and grow at a CAGR of 11.6% over the forecast period of 2024-2031.
The LTE IoT market size was valued at USD 2.49 Billion in 2023 and is expected to reach USD 18.09 Billion by 2031 and grow at a CAGR of 28.41% over the forecast period 2024-2031.
Hi! Click one of our member below to chat on Phone
© 2024 All Rights Reserved by SNS Insider Pvt Ltd
