; Workplace Transformation Market Size, Share, Forecast, 2032

Workplace Transformation Market

Workplace Transformation Market Size, Share, and Analysis, By Service Type (Enterprise Mobility, Telecom Services, Unified Communication, and Others), By Enterprise Size (Large Enterprise and Small & Medium Enterprise), By Vertical (Financial Services, Government, Hospitals, Retail, Transportation, and Others), and By Region (North America, Europe, Asia-Pacific, And Rest of the World) And Regional Forecast 2023-2032

Published on: Dec-2023
Report Code: FG ICT 01767
No. of Pages: 170-350
Report Format: PDF

Workplace Transformation Market is anticipated to grow at a CAGR of 18.6% in the forecast period (2023-2032), with the market size valued at USD 13.49 billion in 2022 and projected to reach USD 74.4 billion by 2032.

Product Overview

Workplace transformation refers to the organization of a company's physical layout, technological infrastructure, and operational practices with the objective to promote dynamic work ecosystem. This strategic development includes modern technology, flexible work models, and redesigned physical structure that encourage effective collaboration and well-being of staff. The primary goal is to improve employee experiences, stimulate creativity, and improve overall business capacity by adopting dynamic work approaches and ensuring optimal use of resources while growing a productive workforce.

Source: Fatpos Global

Market Highlights

Workplace Transformation Market is expected to exhibit a CAGR of 18.6% during the forecast period, 2022-2032

Workplace Transformation Market is anticipated to reach USD 74.4 billion, growing at a CAGR of 18.6% during the forecast period, owing to the escalating demand for flexible work setups, digitalization, and staff-oriented work settings. The growth of organisation depends on the adoption of modern technologies, creation of flexible workspaces, and a focus on superior employee experiences. The market improves workplaces for greater productivity through the adoption of AI-driven systems, IoT innovations, and collaborative tools. This shift in the market is a major reaction to the evolving work setups, with the objective of transforming workspaces that support creativity, teamwork, and worker well-being

 

Source: Fatpos Global

Workplace Transformation Market Segmentation

Enterprise mobility services segment will expand owing to its role in addressing evolving workplace environment

Based on Service Type, the Workplace Transformation market is divided into Enterprise Mobility Services, Telecom Services, Unified Communication, and Others. The enterprise mobility services segment holds a dominant position due to its essential role in meeting the demands of changing workplace ecosystem. The rising acceptance of remote work and widespread use of mobile devices has increased the demand for solutions that allow smooth connectivity and fast access to professional data. Enterprise mobility services meet these demands by providing complete management of devices across multiple platforms. Additionally, the introduction of Bring Your Own Device (BYOD) policies boosted these demands, which requires solutions ensuring productivity and strict data security measures. Enterprise mobility services are essential in creating a flexible and connected workplace, which help businesses in establishing their dominance by the adoption of hybrid work models.

Large Enterprises segment to dominate due to their ability to invest significantly in transformation initiatives

By Enterprise Size, the Workplace Transformation Market is typically segmented into Large Enterprise and Small & Medium Enterprise. Large enterprise segment leads the workplace transformation market owing to their significant investments in workplace transformation initiatives. These investments include deploying advanced technologies and restructuring workflows to enhance productivity. Large enterprises have complicated organizational structures which requires innovative solutions to promote smooth departmental and team collaboration. Additionally, their financial capability allows them to bear the financial burden associated with these transformations and to manage the restructuring challenges. Furthermore, large enterprises can invest in customized strategies to establish their dominance in workplace transformation.

Source: Fatpos Global

Market Dynamics

Growth Drivers

Digital Transformation for Enhanced Competitiveness Will Fuel Market Expansion

Workplace transformation is increasingly necessary as companies implement digital technologies to improve productivity and gain a competitive edge. The rising utilization of digital solutions such as cloud computing, IoT, AI, and others highlights the importance for services that transform workplaces. The growing focus on digital tools highlights the essential role of workplace transformation services in allowing businesses to optimize operations, adjust to evolving technologies, and maintain competitiveness in rapidly evolving markets.

Increasing Opportunities for Remote Work Will Offer Growth Prospects

COVID-19 pandemic accelerated the adoption of remote and hybrid work models which increased the demand for solutions that allow remote collaboration, safe access to resources, and adaptable work structures. This rapid change was driven by organizations aiming to continue business operations during lockdown and prioritize employee safety. Additionally, the increase in flexible work arrangements required solutions that would guarantee data security and allow for remote work. This shift increased the demand for flexible solutions that promote collaboration, secure connectivity, and adaptable work setups in hybrid work environments.

Restraints

Resistance to Changing Work Models May Limit Market Expansion

Resistant to change is a significant restraint affecting the workplace transformation market. Transformational efforts are hindered by deeply rooted traditional work cultures, despite the fact that adopting modern technologies and work techniques has obvious benefits. Workers who are accustomed to fixed schedules could be uncertain to change their workplace environments. Addressing this resistance needs strong management strategies, clear communication, and the development of a work culture that values innovation and flexibility. It will take coordinated efforts to create an adaptive mindset and provide support for a successful workplace transformation method to overcome this restraint.

Recent Developments

  • Wipro Limited and Cisco jointly unveiled a private, managed 5G-as-a-service solution in June 2023. Thanks to the new offering's ability to seamlessly integrate private 5G with their current LAN/WAN/Cloud infrastructure, enterprise customers can now achieve better business results.
  • A leader in technology that assists companies in locating, continuously monitoring, and securing cloud and software-as-a-service (SaaS) application data, IBM announced in May 2023 that it had acquired Polar Security. It resolves the escalating issue of shadow data.
  • A comprehensive solution for these needs will be provided by Unisys Corporation, a global provider of IT services and solutions, and Faction, a provider of data protection, cyber recovery, and business continuity services across multiple cloud platforms. This partnership was announced in January 2023.

Workplace Transformation Market

Key Players:

  • Microsoft Corporation
  • Cisco Systems, Inc.
  • IBM Corporation
  • Google LLC
  • VMware, Inc.
  • Dell Technologies Inc.
  • Accenture plc
  • Citrix Systems, Inc.
  • Hewlett Packard Enterprise (HPE)
  • Oracle Corporation
  • SAP SE
  • Slack Technologies, Inc. (now part of Salesforce)
  • ServiceNow, Inc.
  • Zoom Video Communications, Inc.
  • Atlassian Corporation Plc
  • Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Regional Analysis

Workplace Transformation Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America dominates the global workplace transformation market owing to the advanced technological infrastructures and widespread adoption of smart city initiatives. Additionally, North America plays a critical role in advancing workplace transformation solutions globally due to the presence of major industry players and growing research. The Asia-Pacific region is expected to experience significant growth due to multiple factors such as increasing urbanization, expanding infrastructure development, and the adoption of modern technologies in developing countries.

Source: Fatpos Global

Impact of Covid-19 on Workplace Transformation Market

Emergence of the COVID-19 pandemic acted as a catalyst and promoted workplace transformations worldwide. It highlighted the critical role that digital tools play in encouraging collaboration and caused a widespread shift towards remote work. Enterprises quickly adopted technology to facilitate smooth remote operations, which created an immediate demand for strong digital infrastructure and modern collaboration tools. This unprecedented situation accelerated ongoing workplace transformations and shifted several opinions on remote work, digital collaboration, and the importance of flexible work environments.

Workplace Transformation Market is further segmented by region into:

  • North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
  • Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
  • Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
  • Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
  • Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Workplace Transformation Market Scope and Segments:

ATTRIBUTE

  DETAILS

Study Period

2018-2032

Base Year

2022

Forecast Period

2022-2032

Historical Period

2019-2022

Growth Rate

CAGR of 18.6% from 2022-2032

Unit

Value (USD Billion)

Segmentation

Main Segments List

By Service Type

  • Enterprise Mobility
  • Telecom Services
  • Unified Communication
  • Others

By Enterprise Size

  • Large Enterprise
  • Small & Medium Enterprise

By Verticals

  • Financial Services
  • Government
  • Hospitals
  • Retail
  • Transportation
  • Others

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • 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

Frequently Asked Questions (FAQ):

Workplace Transformation Market size was values at USD 13.49 billion in 2022 and is projected to reach the value of USD 74.4 billion in 2032, exhibiting a CAGR of 18.6% during the forecast period.

Workplace Transformation Market involves adopting tech and strategies to modernize work settings for better productivity, collaboration, and adaptability, encompassing digital tools, space redesign, and workflow enhancements.

The Enterprise Mobility Service segment and the Large Enterprise segment accounted for the largest Workplace Transformation Market share.

Key players in the Workplace Transformation Market include Microsoft Corporation, Cisco Systems, Inc., IBM Corporation, Google LLC, VMware, Inc., Dell Technologies Inc., Accenture plc, Citrix Systems, Inc., Hewlett Packard Enterprise (HPE), Oracle Corporation, SAP SE, Slack Technologies, Inc. (now part of Salesforce), ServiceNow, Inc., Zoom Video Communications, Inc., Atlassian Corporation Plc, and Other Prominent Players.

Digital transformation for enhanced competitiveness and increasing opportunities for remote work are the factors driving the Workplace Transformation Market.

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