The digital workplace market is expected to grow from USD 13.4 billion in 2018 to USD 35.7 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 21.7%
NEW YORK, Feb. 25, 2019 /PRNewswire/ -- Use of advanced technologies, tools, and employees demanding a greater work-life balance is going to drive the digital workplace market.
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The digital workplace market is expected to grow from USD 13.4 billion in 2018 to USD 35.7 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 21.7% during the forecast period. The digital workplace market is driven by availability of new technologies, tools, and reduction in operational expenditures for effective adoption of digital workplace transformation solutions. However, lack of thought leadership and clear or definable Return on Investment (RoI) may hinder the growth in the market.
The enterprise mobility management solution segment is expected to grow at the highest CAGR during the forecast period
Enterprise Mobility Management (EMM) is a set of technology, processes, and policies to secure and manage the use of corporate- and employee-owned mobile devices within an organization.EMM is constantly evolving to accommodate an ever-changing set of device platforms and mobility trends in the workplace.
EMM solutions have emerged as a result of the Bring Your Own Device (BYOD) movement. Rather than restricting mobile devices in the workplace, many organizations choose to implement EMM solutions to allow device flexibility for users while retaining control for IT.
The retail and consumer goods vertical is expected to hold the highest CAGR during the forecast period
Retail and consumer goods is one of the fastest-growing verticals, due to rising consumer purchasing power.This vertical mainly focuses on enhancing its customer experience and delivering customer satisfaction.
These focus points are bringing about digital transformation initiatives among the retailers and consumer goods dealers.
Asia Pacific (APAC) is expected to record the highest CAGR during the forecast period
The APAC region is expected to witness an extensive growth of the digital workplace market during the forecast period.Rapid advancements in cloud computing, IT infrastructure services, and Internet of Things (IoT) have led many organizations to adopt digital workplace solutions and services.
With the increasing adoption of cloud technologies and the rising IT demands for digital transformation, the adoption of digital workplace tools is expected to increase rapidly during the forecast year.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the digital workplace marketplace.
• By company type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
• By designation: C-level – 35%, D-level – 25%, and Others – 40%
• By region: North America – 40%, Europe – 30%, APAC – 20%, MEA – 5%, and Latin America – 5%
The major digital workplace vendors include IBM (US), Atos (France), Wipro (India), DXC Technology (US), NTT Data (Japan), Citrix (US), Unisys (US), Capgemini (France), Cognizant (US), Accenture (Ireland), TCS (India), CompuCom (US), HCL (India), Stefanini ((US), Computacenter (UK), Getronics (Netherlands).
Research coverage
The market study covers the digital workplace market size across segments.It aims at estimating the market size and the growth potential of this market across different segments, such as component, organization size, vertical, and region.
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key benefits of buying the report
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall digital workplace market and the subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
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