Digital Workplace Market Value to Reach US$ 250.2 Billion by 2032

Rockville, United States, 2023-Jun-22 — /EPR Network/ —

The demand for digital workplaces was estimated to be worth US$ 27.33 billion in FY 2021 and US$ 33.41 billion in 2022. The market is anticipated to grow at a startling 22.3% value CAGR during the projected period of 2022 to 2032, reaching a valuation of US$ 250.2 billion.

The Digital Workplace solutions reduce downtime brought on by the implementation of digital workplace technologies and provide cost-effective technical assistance. Furthermore, by offering a number of advantages like reliable operational environments and a reduction in governance and compliance concerns, these solutions assist organisations in keeping a competitive edge in the market. During the projection period, these factors are anticipated to hasten the adoption of digital workplaces.

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The main aim behind workplace digitization is to build a user-centric environment. Digital workplace solutions enable employees to choose devices that enhance their working experience, which in turn are expected to fuel the organization productivity.

Additionally, the increasing adoption of Bring Your Own Device (BYOD) and work from home concept among small and medium enterprises as well as large enterprises is one of the major factors responsible for the growth of the digital workplace market during the forecast period. In addition, the organizations are adopting digital workplace solutions to enhance employee experience through a simpler and more flexible work style.

Digital Workplace helps organizations to attract new employees and retain more experienced and expert workers. The service also improves security by providing a complete and comprehensive view of network traffic, which helps in identifying both internal and external threats.

Competitive Landscape:

The market for digital workplace appears to be majorly consolidated, characterized by the presence of a few prominent service providers. To cement their geographical presence, these players are relying on a multitude of growth strategies- ranging from collaborations with government entities to rebranding of existing portfolios and penetrating new markets. Some prominent developments are as follows:

• In December 2021, Trianz, a digital transformation technology and service company announced a partnership with Workgrid Software, an intelligent digital workspace solutions provider, to deliver a modern workplace with a digital assistant that collaborates with enterprise applications and delivers personalized, contextual information, and content to workforces. With the help of this partnership, Trianz would be able to deliver a modern workplace powered by predictive analytics, intelligent automation, and enterprise social platforms, to enable collaborations, productivity, and career orientations.
• In February 2020, BlackBerry Limited launched BlackBerry Digital Workplace, a secure robust workspace solution, to provide users with simple and secure online and offline access to corporate on-premise or cloud content including Microsoft Office 365 resources.
• In February 2020, LumApps SAS partnered with Microsoft Corporation to develop a fully integrated Office 365 Digital Workplace solution. This partnership helps the LumApps to integrate its solutions with Microsoft tools which accelerates its growth in the digital workplace market.

Key Segments Covered in the Digital Workplace Market Report:

·         By Component :

• Digital Workplace Solutions
• Digital Workplace Services

·         By Enterprise Size :

• Small and Medium Enterprises (SMEs)
• Large Enterprises

·         By End Use :

• BFSI
• IT & Telecommunication
• Retail & Consumer Goods
• Healthcare & Pharmaceuticals
• Manufacturing
• Government
• Other End Uses (Media & Entertainment, Transportation & Logistics, and Energies & Utilities)

·         By Region :

• North America
• Latin America
• Europe Digital
• Asia Pacific
• Middle East & Africa

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Key Takeaways from Digital Workplace Market Study

• Digital workplace market growth to quadruple until 2032
• By component, digital workplace solutions account for 67.6% revenue by 2022-end
• SMEs to be primary target group for digital workplace deployment, expected to flourish at a 24.3% CAGR until 2032
• By 2022-end, digital workplace deployment will likely acquire a value of US$ 33.41 Billion
• A 22.3% CAGR is projected for the digital workplace industry from 2022-2032
• Fact.MR foresees the digital workplace market value to reach US$ 250.2 Billion by 2032

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