Digital Workspace Market Size, Share, Trends, and, Growth Statistics 2030

Digital Workspace Market

Digital Workspace Market by Component (Solutions and Services), by Organization Size (Large Enterprises and SMEs) by End Use Industry (BFSI, IT & Telecommunication, Retail, Healthcare & Pharmaceuticals, Manufacturing and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028

Category: Technology & Media Report Format : PDF Pages: 150 Report Code: ZMR-6186 Published Date: Jul-2021 Status : Published
Market Size in 2020 Market Forecast in 2028 CAGR (in %) Base Year
USD 24.70 Billion USD 109.55 Billion 7.5% 2020

Market Overview

The global digital workplace market accounted for USD 24.70 Billion in 2020 and is expected to reach USD 109.55 Billion by 2028, growing at a CAGR of 20.9% from 2021 to 2028.

The concept of the digital workplace involves firms using digital transformation to combine technology, personnel, and business processes in order to improve operational efficiency and achieve organizational goals. It is basically a set of digital tools or technologies that employees use to get work done in the workplace. These can be e-mails, enterprise social media tools, instant messaging, virtual meeting tools, and automated workflows. Laptops and computers, smartphones, mobile devices, collaborative apps, virtual assistant technology, and immersive workspaces all make up the digital workplace ecosystem.

The market is being driven by a changing work culture and a growing demand from employees for remote working capabilities in order to attain work-life balance. AI and chatbots are expected to become a major area of focus in this market. AI will help boost human productivity by taking on low-value, high-volume tasks that divert attention away from the strategic thinking that only humans are capable of. The concept of the digital office will continue to expand as mobile, remote, and bring-your-own-device (BYOD) tactics gain traction.

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COVID-19 Impact Analysis

The Covid-19 pandemic has had a significant positive impact on the digital workspace market. The lockdowns and restrictions imposed to curb the spread of the virus and businesses being forced to shift to the online mode led to the widespread adoption of digital workplaces across the world. The outbreak accelerated the digital transformation of companies that were till now reluctant and made the digital workplace imperative. The rise in demand for cloud solutions and business continuity tools due to Covid-19 is also expected to have a positive demand on the market.

Growth Factors

A demand for greater flexibility of work and enhanced employee experience is one of the primary factors driving the growth of the market. Factors such as the increased acceptance of cloud-based installations, the implementation of Industry 4.0, and the push toward digitalization across a variety of industries are driving the global market forward. In most firms today, the digital workplace has become an integral aspect of the work experience.

Employees can use digital workplace solutions to better their communication, cooperation, and interactions with one another. These solutions, when implemented efficiently and effectively, enable firms to mitigate common risks, comply with regulatory requirements, and ultimately achieve business goals. Furthermore, the increased usage of digital workspaces among small and medium-sized businesses, as well as significant investment in the construction of IT infrastructure, are also expected to bolster the market's expansion.

Component Segment Analysis Preview

The services segment held a share of around 27.8x% in 2020. This is attributable to the increase in digitization of organizations. Professional services enable firms in aligning their digital workplace activities with the digitalization requirements and help develop a competitive edge through reduced compliance risks, stable operating environments and other features. Such services include training support and maintenance, consulting services and others.

Organization Type Industry Segment Analysis Preview

SMEs segment will grow at a CAGR of over 19.9% from 2021 to 2028. This is attributable to the growing need for teamwork and communication tools, employee engagement, productivity and performance among SMEs. Additionally, with their main focus on being agile and customer-centric, small firms are perfectly suited to embrace this digital transition as they are not bound by the legacy systems and processes as of their larger rivals.

Regional Analysis Preview

The North American region held a share of around 31.2% in 2020. This is attributable to the presence of top companies such as Cognizant, IBM, and DXC Technology, among others. Moreover, this region is a hub for a large number of SMEs, startups and large enterprises that have a high adoption rate of digital workplaces. Moreover, the use of technologies like Artificial Intelligence (AI), Augmented Reality (AR), and Robotic Process Automation (RPA), as well as the rise of social collaboration outside of the enterprise, are expected to drive market expansion in the area.

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The Asia Pacific region is projected to grow at a CAGR of around 20.5% over the forecast period. This surge is due to the growing retail sector in China, India, and Japan, as well as the presence of the majority of IT businesses such as TCS, Wipro and NTT Data in the region. It is also due to a rising demand for digital solutions and increasing focus on remote working and higher customer experience in the region.

Digital Workspace Market: Report Scope

Report Attributes Report Details
Report Name Digital Workspace Market Report
Market Size in 2020 USD 24.70 Billion
Market Forecast in 2028 USD 109.55 Billion
Growth Rate CAGR of 20.9%
Number of Pages 150
Key Companies Covered Atos, Cognizant, IBM, Wipro, Infosys, Accenture, Fujitsu, HCL Technology, DXC Technology, NTT Data, Unisys, HPE, TCS and Capgemini among others.
Segments Covered By Component, By Organization Size , By End Use Industry, and By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
Base Year 2020
Historical Year 2018 to 2020
Forecast Year 2021 - 2028
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Key Market Players & Competitive Landscape

Some of key players in the automated sortation system market are

  • Atos,
  • Cognizant,
  • IBM,
  • Wipro,
  • Infosys,
  • Accenture,
  • Fujitsu,
  • HCL Technology,
  • DXC Technology,
  • NTT Data,
  • Unisys,
  • HPE,
  • TCS and Capgemini among others. 

To strengthen their position in the market, key players have implemented several organic and inorganic growth strategies, such as new product launches, partnerships and agreements, business expansions, and mergers and acquisitions among others. For instance, DXC Technology expanded its strategic partnership with Microsoft with the launch of Microsoft Azure Digital Transformation Practice.

Global Digital Workplace Market By RegionRequest Free Sample

The global digital workspace market is segmented as follows:

By Component

  • Solutions
  • Services

By Organization Size

  • Large Enterprises
  • SMEs

By End Use Industry

  • BFSI
  • IT & Telecommunication
  • Retail
  • Healthcare & Pharmaceuticals
  • Manufacturing
  • Others 

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

FrequentlyAsked Questions

The global digital workspace market was valued at USD 24070.3 Million in 2020.

The global digital workspace market is expected to reach USD 109545.6 Million by 2028, growing at a CAGR of 20.9% between 2021 to 2028.

Some of the key factors driving the global digital workspace market growth are demand for greater flexibility of work and enhanced employee and customer experience.

North America region held a substantial share of the digital workspace market in 2020. This is attributable to the presence of major players such as IBM, Cognizant, and DXC Technology among others. Asia Pacific region is projected to grow at a significant rate owing to the rising demand for digital workspaces in developing economies such as China and India.

Some of the major companies operating in the digital workspace market Atos, Cognizant, IBM, Wipro, Infosys, Accenture, Fujitsu, HCL Technology, DXC Technology, NTT Data, Unisys, HPE, TCS and Capgemini among others.
 

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