Digital Workplace Market is estimated to be US$ 265.8 billion by 2032 with a CAGR of 22.8% over the forecast period (2022-2032)
Digital Workplace enables new, more effective ways of working which raises employee
engagement and agility, and exploiting consumer oriented styles and
technologies. Digital Workplace includes number of technologies and tools for
achieving business goals which includes, collaboration & social engagement
platforms, communication tools & applications, documentation archives
mobile integration & mobile devices management, cloud storage tools for
document sharing & storage intranet and portal platforms, content and
knowledge management systems for internal and external sharing, etc. Due to
COVID-19 pandemic world has changed and remote working is almost provided in
number of companies. There is increase in number of employees who work from
home and need for recreating a workplace environment which engage employees and
to encourage communication and collaboration has become apparent. To achieve
vibrancy many of the organizations are adopting secure digital workplace
strategy because digital workplace empowers employee with tools &
technology which help in lowering operating cost thereby reducing need for
expensive office space. To build up digital workplace strategy some guidelines
should be considered by the organizations. Firstly, organization should perform
an assessment of current digital workplace footprint and to evaluate strength
and weaknesses of system that are currently in place. This evaluation begins
with survey of employees for understanding currently in use tools, opinion of
current software and their ideas for improving workflow of their jobs and type
of roadblocks which stand in their way. After completion of assessment
organizations should engage business & IT team leaders to agree on common
goal and to clear vision for its adoption. However, wide variety of benefits of
digital workplace has fueled the target market growth.
The report “Digital Workplace Market, By Component (Solutions and Services),
By Deployment (On-Premises and Cloud-based), By Enterprise Size (Small
Enterprises, Medium Enterprises, Large Enterprises), By End-Users
(Pharmaceutical, Healthcare, IT & Telecommunication, Government, BFSI,
Retail & Consumer Goods, Manufacturing, Transportation & Logistics,
Media & Entertainment, and Others), and By Region (North America,
Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends,
Analysis and Forecast till 2032”
Key Highlights:
·
In October
2022, Cognizant collaborates with Qualcomm for launching 5G experience center
for Digital Transformation across industry verticals. This collaboration help
in combining Cognizant’s deep experience in 5G, IoT, cloud & data analytics
with Qualcomm Technologies intelligent edge devices and AI (artificial
intelligence) & 5G connectivity solutions. The combination of 5G and MEC
(Multi Access Edge Computing) technologies help in offering enterprises the
ability for creating multiple virtual networks with same physical hardware
& support of thousands of connected devices that generates data insights in
real time with less congestion and better network security which leads to more
seamless end-user experience and better business outcomes.
·
In September
2022, IBM has announced the establishment of Software Lab at Gujarat
International Fin Tech City (GIFT City) for accelerating digital innovation and
product development. Newly launched software lab will help in delivering
next-generation solutions by leveraging hybrid cloud and AI (Artificial
Intelligence) technologies. The center will focus on product designing, engineering
and development of new products & solutions in areas of Sustainability
Software, Security, Automation, Data & AI and collaborate with technology
ecosystem in region for co-creating solutions for global industries.
·
In September
2022, Telefonica Tech & HPE Aruba has announced their partnership to
develop workspace of the future, by evolving managed networking services
portfolio, by adding additional security capabilities to flexSITE’s WiFi and
LAN connectivity, and to ensure the protection in adoption of hybrid working
model.
·
In October
2021, Vodafone is set to add around 7,000 of software engineers to its European
workforce by 2025, to meet the surging demand for digital connectivity and to
secure the ownership of new IPs. Expansion of company’s software capabilities
will allow to build up new products & services at lower cost and own the
associated intellectual property.
·
In June 2020,
Infosys launched ‘Return to Workplace’ Solutions to help enterprises to build
safe, nurturing and resilient workplaces. Newly launched cloud and edge-based
solutions offers a comprehensive framework which enables the enterprise to
implement, the solutions are, elevated body temperature screening (EBT),
contact tracing, COVID 19 chatbot, mask compliance/social distancing
compliance, contactless biometrics, and occupancy & workspace analytics.
Analyst View:
Digital Workplace help organizations to build up deeper
relationships and a strong culture which help in increasing productivity,
increasing company loyalty and improving overall business performance.
Important tools like communication and collaboration tools in digital workplace
greatly help in improving management’s ability for hearing issues from
employees throughout the organization and fostering stronger relationship
between employees and management. Adequate training on new digital workplace
for existing employees and on board new hires must be provided. Solid training
programs which provides necessary insights into tools help employees for
rationalizing why the changes are important and help in increasing their
comfort level while learning. However, wide variety of benefits and adoption of
cloud based technology is expected to boost the Digital Workplace Market growth. As a result, market competition is intensifying, and
both big international corporations and start-ups are vying to establish
position in the market.
Browse 60 market data tables* and
35 figures* through 140 slides and in-depth TOC on “Digital Workplace Market, By Component (Solutions and Services),
By Deployment (On-Premises and Cloud-based), By Enterprise Size (Small
Enterprises, Medium Enterprises, Large Enterprises), By End-Users
(Pharmaceutical, Healthcare, IT & Telecommunication, Government, BFSI,
Retail & Consumer Goods, Manufacturing, Transportation & Logistics,
Media & Entertainment, and Others), and By Region (North America,
Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends,
Analysis and Forecast till 2032”
Key Market Insights from the report:
Digital Workplace Market accounted for US$ 30.37 billion
in 2022 and is estimated to be US$ 265.8 billion by 2032 and is anticipated to
register a CAGR of 22.8%. The Digital
Workplace Market is segmented based
on component, deployment, enterprise size, end-users and region.
·
Based on
Component, Digital Workplace Market is segmented into Solutions and Services.
·
Based on
Deployment, Digital Workplace Market is segmented into On-Premises and
Cloud-based.
·
Based on
Enterprise Size, Digital Workplace Market is segmented into Small Enterprises, Medium
Enterprises, Large Enterprises.
·
Based on
End-Users, Digital Workplace Market is segmented into Pharmaceutical,
Healthcare, IT & Telecommunication, Government, BFSI, Retail & Consumer
Goods, Manufacturing, Transportation & Logistics, Media &
Entertainment, and others.
·
By Region,
the Digital Workplace Market is segmented into North America, Europe, Asia
Pacific, Latin America, Middle East & Africa.
Competitive Landscape & their strategies
of Digital Workplace Market:
The prominent players operating in
the Digital Workplace Market includes, Wipro Ltd., Cognizant, Infosys
Limited, Honeywell International Inc., Vodafone Group Plc., HCL Technology, IBM
Corporation, Tata Consultancy Services Limited., Yokagawa India
Ltd., Fujitsu Ltd, Microsoft Corporation, Capgemini, and others.
The market provides detailed information
regarding the industrial base, productivity, strengths, manufacturers, and
recent trends which will help companies enlarge the businesses and promote
financial growth. Furthermore, the report exhibits dynamic factors including
segments, sub-segments, regional marketplaces, competition, dominant key
players, and market forecasts. In addition, the market includes recent
collaborations, mergers, acquisitions, and partnerships along with regulatory
frameworks across different regions impacting the market trajectory. Recent
technological advances and innovations influencing the global market are
included in the report.
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Some Important Points Answered in this Market
Report Are Given Below:
·
Explains an
overview of the product portfolio, including product development, planning, and
positioning
·
Explains
details about key operational strategies with a focus on R&D strategies,
corporate structure, localization strategies, production capabilities, and
financial performance of various companies.
·
Detailed
analysis of the market revenue over the forecasted period.
·
Examining
various outlooks of the market with the help of Porter’s five forces analysis,
PEST & SWOT Analysis.
·
Study on the
segments that are anticipated to dominate the market.
·
Study on the
regional analysis that is expected to register the highest growth over the
forecast period
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