Workplace Transformation Market Size, Share & Trends Report

Workplace Transformation Market Size, Share & Trends Analysis Report By Service (Application Management, Asset Management), By Enterprise Size, By End Use, By Region, And Segment Forecasts, 2020 - 2027

  • Published Date: Mar, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-4-68038-181-8
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 110

Report Overview

The global workplace transformation market size was valued at USD 11.9 billion in 2019 and is expected to gain traction over the forecast period. The rising trend of connected workplaces is the major factor driving the market. Collaboration services have become the face of automated and connected workplaces and provide an end-user defined atmosphere, where a user can gain access to workplace from anywhere and connect with other employees from any device. Such a collaborative workplace would offer platforms for idea generation, gamification, and crowdsourcing, all of which lead to improved productivity. All these factors are propelling the growth of the market for workplace transformation.

U.S. workplace transformation market

The increasing adoption of innovative technologies such as enterprise mobility and Bring Your Own Device (BYOD) by organizations is contributing to market growth. The adoption of tablets and smartphones has been growing exponentially, which has led to the rise in the culture of BYOD in workplaces. This allows employees to bring their own devices, such as smartphones, laptops, and tablets to the workplace, and use them with enterprise mobility applications to easily retrieve corporate data. Enterprises have their own advantages by implementing BYOD policies, as it increases employee productivity and reduces the IT cost and setup time.

Technological proliferation in artificial intelligence (AI) and automation, is playing an important role in organizations to improve productivity and streamline processes. Workplace transformation service providers are increasingly adopting cloud technology and integrating AI in their service offerings. Future workspaces are adopting new technologies that would make it easier for people to connect and get the work done smoothly. Hence, there are abundant opportunities for service providers to innovate their offerings by using state-of-the-art technologies, which is further driving the market for workplace transformation.

Furthermore, the market is observing tremendous growth owing to the growth of enterprise workflow management and new technological advancements in the IT industry. The IT and human resources departments in many organizations are working collaboratively to create a flexible workplace environment. The organizations that have introduced digital transformation in their workplace witness greater productivity and employee satisfaction. Moreover, digitally transformed organizations can adjust to the changing technological landscape and are capable to tackle rapid shifts in the industry, which is subsequently propelling the growth of the market for workplace transformation.

However, issues related to infrastructure management and technology integration are some of the major challenges companies face while executing workplace transformation. The digital workplace trend has resulted in a rise in concerns related to infrastructure management, security, privacy, data integrity, and remote device management, as many enterprises need to deal with a host of IT infrastructure services deployed at workplaces. Increasing use of smart devices in organizations is beneficial for enterprises, but it can be challenging for the IT staff to find a cost-effective and efficient solution for controlling the organization’s communication requirements. To overcome these challenges, the organizations need to have a right strategy in place for the long-term and have a good capital plan to enable workplace transformation.

COVID - 19 Impact Insights

The Coronavirus disease (COVID-19) outbreak has been stated as a pandemic by the World Health Organization (WHO), causing a massive impact on people's lives, communities, and families. With the COVID-19 virus pushing people to stay at home, enterprises are compelled to support an entirely remote workplace to follow the mandate of Work from Home (WFH). The WFH mandate has put pressure on IT decision makers and IT departments to enable enterprise mobility. This is expected to favorably impact the growth of the workplace transformation market.

Organizations can seek it as a great opportunity to deal with their remote work policy by getting the right tools in place and be prepared for a similar situation in the future. Organizations must also make sure that employees working remotely have the tools they require, such as collaboration tools, VPNs, and videoconferencing solutions, and access to critical documents. The organizations must collaborate with the workplace transformation vendors to provide services such as enterprise mobility, communication, and collaboration, and workplace automation to transform their workplace. Hence, the market for workplace transformation has a huge potential to seek growth amid COVID-19 impact.

Service Insights

Based on service, the market is segmented into application management, asset management, desktop virtualization, enterprise mobility and telecom, field services, service desk, unified communication and collaboration, workplace automation, workplace upgradation and migration, and others. The enterprise mobility and telecom service segment dominated the market for workplace transformation over the forecast period as these services ensure work continuity, irrespective of the location, and improve the overall productivity and efficiency of the organization. The rapid increase in the usage of tablets, smartphones, and other smart devices in organizations is powering mobility services. Various new market trends such as Bring Your Own Device (BYOD), mobile-first approach, and Carry Your Own Identity (CYOI) are also helping the organizations to implement enterprise mobility services.

The asset management service segment is expected to witness significant growth over the forecast period. Asset management is the strength of any organization’s IT system as software and hardware system are the only assets of any IT environment. Organizations are increasingly adopting modern enterprise asset management services to increase the value and usage of enterprise assets. Hence the segment is anticipated to experience remarkable growth over the next eight years.

End-use Insights

Based on end use, the market for workplace transformation is segmented into BFSI, government, healthcare, IT and telecom, manufacturing, media and entertainment, retail, and others. The healthcare segment is expected to witness significant growth over the next eight years. Increasing demand for electronic data across patient outreach and operation channels is expected to accelerate industry growth. The rapidly increasing volume of customers has led to the necessity of scalable business models to facilitate the efficient handling of patients. Furthermore, workplace transformation helps in enhancing the patient experience as it enables better decision making and allows for the optimal utilization of resources and time. The aforementioned factors are driving the growth of the segment in the market for workplace transformation.

The BFSI industry is expected to dominate the market over the forecast period owing to the massive adoption of enterprise mobility services, augmented by the growth of digitalization. Furthermore, various government regulations and growth of digitalization in the emerging economies such as India and China are driving the market for workplace transformation. Further, the adoption of technologies has rapidly increased in the BFSI industry with disruptors such as fin-tech start-ups, payment banks, and cryptocurrencies. Additionally, the private banks are increasingly adopting latest technologies to provide flexibility to their employees and offer continuous support to their customers.

Enterprise Size Insights

Based on enterprise size, the market for workplace transformation is segmented into large enterprises and small and medium enterprises (SMEs). The SME segment is expected to witness the highest CAGR over the forecast period. SMEs are swiftly implementing workplace transformation services according to their infrastructure. However, SMEs face many IT and infrastructures related challenges, along with a stringent financial budget. Digital workplace services give many benefits to SMEs such as improved business efficiency and productivity, mobility of desk-based operations, cost efficiency, faster time to market, and enhanced customer experience. Furthermore, rapid developments in cloud technology and the introduction of technologies such as Internet of Things (IoT) and AI have made it feasible for SMEs to adopt them and augment the growth of the market for workplace transformation.

Europe workplace transformation market

The large enterprise segment is expected to account for the highest revenue share in the market for workplace transformation over the forecast period. Large enterprises are adopting workplace transformation solutions as they offer cost effectiveness and are easy to implement. For large enterprises, it is important to have effective and efficient solutions as it requires ease of system integration, flexibility, and data privacy. Owing to strong financial capability, large enterprises can execute digital strategy across businesses and accelerate transformation across different sectors. Additionally, large enterprises play an important role in promoting technology-driven ideas and supporting digital awareness.

Regional Insights

The Asia Pacific is presumed to emerge as the fastest growing regional market over the next eight years, owing to the rapidly increasing number of SMEs and the expanding service sector. Increasing smartphone users and growing online commerce are some of the factors likely to fuel the growth of the market for workplace transformation in the region. Most of the companies in the region are encouraging widespread adoption of cloud-based technology and BYOD with large-scale acceptance of digital workplace services by enterprises. Furthermore, factors such as globalization, rapid economic development, foreign direct investment, and increasing penetration of internet are fueling the market growth.

North American dominated the market for workplace transformation in 2019. The region is deemed as the most advanced region in terms of technology adoption. The region’s financial positioning enables it to invest substantially in leading technologies and tools for efficient project operations. Additionally, the presence of prominent workplace transformation providers such as Cisco Systems, Inc.; Citrix Systems; and Unisys in North America is expected to significantly drive the market for workplace transformation in the region. The region is experiencing strong demand for software and robotics solutions, owing to high manufacturing, retail, and automotive activity in Canada and the U.S.

Key Companies & Market Share Insights

Prominent players in the market are focusing on empowering technological modification in organizations to improve operational efficiency and work environment. Prominent players dominating the market for workplace transformation include Accenture PLC; NTT Data Corporation; Cisco Systems, Inc.; Atos; Hewlett Packard Enterprise Development LP (HPE); Capgemini; Citrix Systems; Unisys Corporation; IBM Corporation; Intel Corporation.

Industry players are observed making heavy investments in research and development activities with the objective of increasing their market share and ensuring the organic growth of their companies. Furthermore, these players are actively engaging in new product development initiatives in order to improve and expand their existing products and services portfolios, thus offering these companies an opportunity to acquire new customers. For instance, in April 2018, Accenture launched the Accenture Intelligent Enterprise Platform, an insight-driven, digitally integrated platform that powers enterprise transformation from business case to roadmap to delivery. The platform captures the most advanced and disruptive ideas about innovation, technology, and industry to enable companies to transform themselves into intelligent organizations.

Workplace Transformation Market Report Scope 

Report Attribute

Details

Market size value in 2020

USD  13.3 billion

Revenue forecast in 2027

USD 41.49 billion

Growth Rate

CAGR of 17.0% from 2020 to 2027

Base year for estimation

2019

Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Revenue in USD million and CAGR from 2020 to 2027

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Service, enterprise size, end use, region.

Regional scope

North America; Europe; Asia Pacific; Latin America; and MEA

Country scope

U.S.; Canada; Germany; U.K.; China; India; Japan; and Brazil

Key companies profiled

Accenture PLC; NTT Data Corporation; Cisco Systems, Inc.; Atos; Hewlett Packard Enterprise Development LP (HPE); Capgemini; Citrix Systems; Unisys Corporation; IBM Corporation; Intel Corporation.

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2020 to 2027. For the purpose of this study, Grand View Research has segmented the global workplace transformation market report based on service, enterprise size, end use, and region.

  • Service Outlook (Revenue, USD Million, 2016 - 2027)

    • Application Management

    • Asset Management

    • Desktop Virtualization

    • Enterprise Mobility & Telecom

    • Field Services

    • Service Desk

    • Unified Communication & Collaboration

    • Workplace Automation

    • Workplace Upgradation & Migration

    • Others

  • Enterprise Size Outlook (Revenue, USD Million, 2016 - 2027)

    • Large Enterprise

    • Small & Medium Enterprise

  • End-use Outlook (Revenue, USD Million, 2016 - 2027)

    • BFSI

    • Government

    • Healthcare

    • IT & Telecom

    • Manufacturing

    • Media & Entertainment

    • Retail

    • Others

  • Regional Outlook (Revenue, USD Million, 2016 - 2027)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

    • Asia Pacific

      • China

      • India

      • Japan

    • Latin America

      • Brazil

    • MEA

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