Digital Workplace Market Exhibiting Persistent CAGR Of 11.3% Would Reach USD 54.2 Billion By 2027 | Grand View Research, Inc.

Digital Workplace Market Exhibiting Persistent CAGR Of 11.3% Would Reach USD 54.2 Billion By 2027 | Grand View Research, Inc.

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According to a new report published by Grand View Research, changing working culture and growing demand for remote working capabilities from employees to achieve work-life balance are the prominent factors driving the market.

The global digital workplace market size is expected to reach USD 54.2 billion by 2027, expanding at a CAGR of 11.3% from 2020 to 2027, according to a new report by Grand View Research, Inc. The availability of new software and tools, demand for remote working, and focus on improved employee experience are driving the adoption of the digital workplace. Advancements in workplace technologies and Software as a Service (SaaS) have led to the implementation of cloud systems, thus, driving the overall market. The shift in the generational workforce has led to the adoption of digitalization in the workplace. The utilization of various gadgets such as smartphones, laptops, and tablets has provided ease to the mid-aged generation.

Digital workplace aligns the employees, technologies, and businesses in such a way that they improve operational efficiency and meets various goals set by organizations across verticals such as IT and telecommunication, consumer goods, retail, manufacturing, and pharmaceuticals. The smooth integration of digital workplace tools within the workspace is often easily achieved at organizations having higher digital literacy. With the growing importance of customer satisfaction and their experience at priority, companies also need to focus on employee experience as they act as the key driver in exhibiting the organizational capabilities. Furthermore, the adoption of digital workplace solutions and services enables not only retaining employees but also contributes in attracting a talented workforce. Moreover, on-going technological advancement, such as the use of AI and machine learning to optimize the business performance, and its collaboration with the workforce, would drive the market over the forecast period.

Companies such as DXC Technology Company, IBM, HCL Technologies Limited, Atos SE, NTT Data Corporation, Citrix Systems, Inc.; Tata Consultancy Services Limited, Wipro Limited, among others, are the key players operating in the market. DXC Technology Company is one of the prominent providers that has robust capabilities and a wide global presence to deliver workplace solutions. Atos’ acquisition of Syntel represents a significant boost in its abilities to deliver digital workplace transformation services in all the regions. Atos can leverage Syntel’s suite of proprietary solutions that use cloud, social media, analytics, mobile, and IoT to deliver digital transformation. 

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Digital Workplace Market Report Highlights

 The small and medium enterprises segment is expected to grow at the highest rate of 11.8% over the forecast period. Increasing BYOD trends, remote working culture in small, medium, and large enterprises in emerging economies are expected to drive the market over the forecast period

IT and Telecommunication segment held the largest share of more than 34.0% of the overall market in 2019

North America held the largest market size valued at USD 7.3 billion in 2019, whereas the Asia Pacific region is poised to witness the highest CAGR of 12.5% over the forecast period.

Key players including DXC Technology Company; IBM; HCL Technologies Limited; Atos SE; NTT Data Corporation; Citrix Systems, Inc.; Tata Consultancy Services Limited; Wipro Limited accounted for a majority share of the overall market in 2019.

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Digital Workplace Market Segmentation

Grand View Research has segmented the global digital workplace market on the basis of component, organization, end use, and region:

Digital Workplace Component Outlook (Revenue, USD Million, 2016 – 2027)
    • Solutions
    • Services

Digital Workplace Organization Outlook (Revenue, USD Million, 2016 – 2027)
    • Small and Medium Enterprises
    • Large Enterprises

Digital Workplace End-use Outlook (Revenue, USD Million, 2016 – 2027)
    • BFSI
    • IT & Telecommunication
    • Retail & Consumer Goods
    • Healthcare & Pharmaceuticals
    • Manufacturing
    • Others

Digital Workplace Regional Outlook (Revenue, USD Million, 2016 – 2027)
     North America
        • The U.S.
        • Canada
        • Mexico
    • Europe
        • Germany
        • The U.K.
    • Asia Pacific
        • China
        • India
        • Japan
    • South America
        • Brazil
    • Middle East & Africa

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About Grand View Research

Grand View Research is a U.S. & India-based market research and consultancy firm. It is headquartered in San Francisco. We provide business insights, syndicated research reports, and customized research reports to large as well as small and medium-scale enterprises. Our database features thousands of statistics and in-depth analyses on more than 45 industries. Grand View Research’s extensive database is used by Fortune 500 companies to understand the regional as well as the global business environment.

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