Global Digital Workplace Market – Industry Trends and Forecast to 2029

Global Digital Workplace Market, By Component (Solutions, Unified Communication and Collaboration, Unified Endpoint Management, Enterprise Mobility and Management, Services, Professional Services, Managed Services), Organization Size (Small and Medium-Sized Enterprises, Large Enterprises), Vertical (Telecommunication and IT-Enabled Services, Banking, Financial Services, and Insurance, Media and Entertainment, Retail and Consumer Goods, Manufacturing, Healthcare and Pharmaceuticals, Government and Public Sector, Others), Deployment (On-Premise, Cloud) – Industry Trends and Forecast to 2029.

Digital Workplace Market Analysis and Size

Technology has altered how employees work. Organizations now run on digital workplace platforms that employees can access from anywhere, at any time, as long as they have a device (laptop, computer, etc.) and internet access. A digital workplace is the basic set of digital tools that employees use to complete their tasks. Virtual meeting tools, instant messaging, enterprise social media tools, and automated workflows are just a few examples.

Data Bridge Market Research analyses that the digital workplace market was valued at USD 27.14 billion in 2021 and is expected to reach the value of USD 134.95 billion by 2029, at a CAGR of 22.20% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Digital Workplace Market Scope and Segmentation

Market Definition

A digital workplace is a collection of environments, platforms, and tools used to align people, technology, and business processes to improve or enhance operational efficiency and achieve business goals. The availability of new tools and technology aids in improving staff management and providing a unified experience, allowing organisations to grasp digital dexterity for the development of cutting-edge digital business services.

Global Digital Workplace Market Dynamics

Drivers

• Digital workplace assists in attaining High efficiency, productivity and organisational agility

A digital workplace assists in attracting, retaining, engaging, and motivating employees. Employees can use their own devices, and the digital workplace policies allow for a variety of work styles. End users receive a fit-for-purpose workplace bundle customised to their needs when persona-based models are used instead of single services. Employee content and data are securely embedded in collaboration tools, corporate drop boxes, and cloud storage, allowing employees to access data from any device, in any location, and at any time, whether they are in the office or working remotely. Access to this data boosts efficiency while also increasing productivity and organisational agility. Employees can use digital workplace solutions to improve their communication, collaboration, and connections with one another.

• High adoption from SMEs is providing growth opportunities

SMEs that implement digital workplace solutions gain a competitive advantage in the industry by increasing productivity, cost savings, a more mobile and agile workforce, increased flexibility, and adaptability in the marketplace. It is critical for small and medium-sized enterprises (SMEs) to focus on their business operations and growth, as well as to strengthen their position in their industry. As a result, SMEs across all industries are adopting digital workplace services in order to sustain and remain competitive in the market, which is expected to create lucrative opportunities for the growth of the digital workplace market during the analysis period.

Opportunity

Organizations' increasing adoption of advanced technologies such as Bring Your Own Device (BYOD) and enterprise mobility contributes to market growth. It improves flexibility and mobility while saving time on hardware and software licencing and device management for company-owned devices. It changes the nature of workplaces and processes, aided by organisational restructuring, and reduces businesses' operational expenditure. Furthermore, workplaces are expected to implement more cloud-based and flexibility-enhancing accessibility solutions with the help of Artificial Intelligence (AI), the Internet of Things (IoT), and Virtual Reality (VR). These benefits and advancements will propel the industry forward during the forecast period.

Restraints

However, transformation and integration process-related issues in organisations, a lack of training and required education among the workforce, and a lack of thought leadership in organisations are among the major factors acting as restraints, and will continue to challenge the digital workplace market during the forecast period.

This digital workplace market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the digital workplace market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Digital Workplace Market

Many businesses operated successfully prior to the COVID-19 pandemic; the outbreak prompted even more businesses to accelerate digital adoption and implement best practises that were previously considered "nice to have." Simply put, the COVID-19 pandemic marked the end of the digital deferral period, acting as a spark plug for the digital revolution. Companies that were not prepared were forced to compress five years of digital adoption into six months. The pandemic imposed numerous restrictions such as travel restrictions, shop and market closures, and work from home, import-export bans, and others across all major economies. All major industries were affected by the COVID-19 pandemic, including manufacturing, trade, hospitality, leisure, oil and gas, tourism, automotive, and transportation. To deal with the pandemic, industries adopted various strategies, with digital workplace strategies gaining prominence across organisations.

Recent development

• In November 2021 VergeSense, a San Francisco, California-based company that develops technologies to track physical office usage, announced that it had raised $60 million in a series C round led by Scale Venture Partners. The proceeds, according to CEO Dan Ryan, will be used to support R&D and growth as VergeSense seeks to expand its international customer base.
• In April 2021 Happeo and AODocs joined forces to create a rich integration, offering Google Workspace as a better alternative to Microsoft SharePoint. The companies enable employees to use familiar Google Apps while allowing organisations to automate repetitive tasks and improve collaboration across departments and regions.

Global Digital Workplace Market Scope

The digital workplace market is segmented on the basis of component, organization size, vertical and deployment. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Database

• Structured Query Language
• Non-Structured Language

Component

• Solutions
• Unified Communication and Collaboration
• Unified Endpoint Management
• Enterprise Mobility and Management
• Services
• Professional Services
• Managed Services

Organization size

• Small and medium sized enterprises
• Large Enterprises

End user

• Banking Financial Services and Insurance (BFSI)
• Education
• Healthcare and Pharmaceuticals
• Government and Public Sector
• IT Enabled Services and Telecommunication
• Media and Entertainment
• Retail and Consumer Goods
• Manufacturing
• Others

Digital Workplace Market Regional Analysis/Insights

The digital workplace market is analysed and market size insights and trends are provided by country, component, organization size, vertical and deployment as referenced above.

The countries covered in the digital workplace market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

North America has the largest market share, which can be attributed to enterprises' early adoption of advanced technologies. The United States and Canada are the market's primary growth engines. The United States and Canada are mature markets in the digital workplace space because major corporations embraced the tools and services early on. Furthermore, the rapid adoption of technologies such as Artificial Intelligence (AI), Augmented Reality (AR), and Robotic Process Automation (RPA) is driving market growth.

Asia-Pacific region is expected to grow at the fastest CAGR. The Asia-Pacific region has seen rapid market growth as a result of the increased adoption of digital workplace approaches among small and medium-sized businesses. The companies have come to know the importance of employee engagement to offer a better customer experience and in turn more profit. Thereby, SMEs are expected to embrace digital workplace solutions to achieve cost optimization.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Digital Workplace Market Share Analysis

The digital workplace market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to digital workplace market.

Some of the major players operating in the digital workplace market are:

• General Electric (U.S.)
• IBM Corporation (U.S.)
• PTC (U.S.)
• Microsoft (U.S.)
• Siemens (Germany)
• ANSYS, Inc. (U.S.)
• SAP SE (Germany)
• Oracle (U.S.)
• Robert Bosch GmbH (Germany)
• Swim.ai, Inc. (U.S.)
• Atos SE (France)
• ABB (Switzerland)
• KELLTON TECH (India)
• AVEVA Group plc (U.K.)
• DXC Technology Company (U.S.)
• Altair Engineering, Inc (U.S.)
• Hexaware Technologies Limited (India)
• Tata Consultancy Services Limited (India)
• Infosys Limited (India)
• NTT DATA, Inc. (Japan)
• TIBCO Software Inc. (U.S.)