Workplace Transformation Market Size .pdf
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Workplace Transformation Market Size, Share,
Development, Growth and Demand Forecast to 2023
As per the research, the global workplace transformation market is likely to grow from $7,890
million in 2016 to $24,099.2 million by 2023. The human resources and IT department of various
business organizations are working together to create a workspace environment, which ensures
smooth and flexible functioning in their organization. The business organizations that have
adopted transformation in their workplace find greater employee satisfaction and more
productivity. Workplace transformation helps in efficiently managing spaces in the organizations,
which is unused when employees are unavailable in the office. This enables the firms to reduce
business costs and increase their competitive advantage. This transformation occurs when the
human behavior, technology and real-estate are used together to create flexible, fun and
cooperative working environments that encourage innovation.
Access Report Overview: https://www.psmarketresearch.com/market-analysis/workplacetransformation-market
The increasing need for mobility among the business organizations is the key trend observed in
the global workplace transformation market. Employees require mobile technology for resolving
customers’ problem and developing an understanding of organization’s objectives and mission.
To support their workforce, the organizations provide mobile devices, cloud-enabled services,
applications and software to make mobility a crucial component of workplace strategy. The
implementation of mobility in the workplace is helping business organizations in reducing
overhead costs. It is also increasing the overall productivity, while improving communication
between employees and the customers. the global workplace transformation market is
projected to reach $24,099.2 million by 2023, growing at a CAGR of 17.4% during 2017 - 2023.
Based on research findings, banking, financial services and insurance (BFSI) has been the
largest industry using workplace transformation, globally. The enterprise mobility and telecom
services has been the largest revenue generating segment, based on services, in the global
workplace transformation market. And based on organization size, large enterprises have been
contributing higher revenue to the global workplace transformation market.
Geographically, North America has been the largest contributor to the global workplace
transformation market. According to the research, the business organizations in this region are
increasingly using digital transformation technologies to effectively manage themselves. The
increasing adoption of unified communications and collaboration services by various business
organizations in North America is driving the growth of workplace transformation market.
Small and medium enterprises in the region have started using unified communications and
digital technologies within their workplace to enhance efficiency of their employees. These new
digital technologies are capturing the workspace and helping organizations to attain greater
productivity, provide enhanced user experience to the customers and reduce operational costs.
The enterprises in the region are focusing on workplace upgradation and migration services,
workplace automation services and asset management services, which helps them to embrace
new methods of working that support innovation and openness.
The implementation of workplace transformation in North America is helping business
enterprises to develop faster deployment, increase business agility, perform business operations
effectively and eliminate huge infrastructure cost. The BFSI has been the largest industry for
workplace transformation market in the region. The banking industry in this region is increasingly
adopting enterprise mobility applications and smart mobile applications, which is helping it to
transform the traditional banking system.
The enterprise mobility has helped business organizations in developing strategies for customers
to enhance customer loyalty and retention, increasing efficiency of employees and creating new
revenue models. According to a recent survey, the demand for bring your own device (BYOD)
technology and enterprise mobility is growing at a fast pace in the organizations. The increased
demand for these technologies is driving the market for workplace transformation, globally.
BYOD enables the employees to carry their own devices, such as laptops, smartphones and
tablets, and use these devices with enterprise mobility applications to have an easy accessibility
of corporate data. This ensures that the employees maintain timely and effective communication
with the customers and the co-workers.
The increasing adoption of enterprise mobility and BYOD is driving the global workplace
transformation market growth. For instance, in the banking industry, the enterprise mobility
applications and the smart mobile applications have transformed the traditional banking system.
Enterprise mobility also helps organizations in gathering valuable data regarding their customer
behavior and providing them with exclusive solutions focused on their demands. It also helps the
banking industry in delivering real-time, interactive solutions to retail and commercial customers
and ensuring easy accessibility of information to everyone.
Enterprise mobility has led to reduced cost of customer acquisition and shorter sales cycles,
which helps to increase revenue of the organization and cost savings. It also enhances the
overall efficiency and productivity of the business enterprises by utilizing resources in an optimal
manner and streamlining business processes. Moreover, enterprise mobility helps organizations
in lowering operational costs and creating a transformational impact on their business operations.
The overall intensity of competition is low in the global workplace transformation market. The
market witnessed a CAGR of 15.6% during 2013 - 2016. Owing to the average growth rate, the
intensity of rivalry in the market is low. There are few players in the global workplace
transformation market, which keeps the intensity of rivalry in the market low.
The research states that the global workplace transformation market had a concentrated
structure in 2016. Some of the key players in the global market include Accenture PLC, Cisco
Systems, Inc., Cognizant Technology Solutions Corporation, HCL Technologies Limited, Citrix
Systems, Inc., Wipro Limited, Unisys Corporation, IBM Corporation, Tata Consultancy Services
Limited, Infosys Limited and Intel Corporation.
GLOBAL WORKPLACE TRANSFORMATION MARKET SEGMENTATION
Enterprise Mobility and Telecom Services
Unified Communication and Collaboration Services
Workplace Upgradation and Migration Services
Asset Management Services
Workplace Automation Services
Application Management Services
By Organization Size
Small and Medium Enterprises
Banking, Financial Services, and Insurance (BFSI)
Healthcare and Life Sciences
Transportation and Logistics
Media and Entertainment
Telecom and Information Technology
Rest of Europe
Rest of Asia-Pacific
Middle-East & Africa
Rest of MEA
Rest of Latin America