Pune: Technology and changing business practices are ushering a new era for workplace. The market size is estimated to grow from USD 8.02 Billion in 2016 to USD 18.06 Billion by 2021, at a CAGR of 17.6% from 2016 to 2021, as per a new market research report by Markets and Markets “Workplace Transformation Market by Type of Services (Enterprise Mobility & Telecom, Unified Communication & Collaboration, Workplace Upgrade & Migration, Field Services, and Service Desk).
Increasing trend in the adoption of new technologies such as Bring Your Own Device (BYOD) and enterprise mobility by organizations, changing nature of workplace, and processes supported by organizational restructuring and reorganizing, reduction in operational expenditures and changing demographic factors are some of driving forces in the Workplace Transformation Market.
The enterprise mobility and telecom service has the largest market share in the Workplace Transformation Market during the forecast period. The rapid proliferation of smartphones, tablets, and other smart devices in organizations is driving the mobility services. Some of the new market trends such as Bring Your Own Identity (BYOD), Carry Your Own Identity (CYOI), and mobile-first approach are also encouraging the organization to adopt enterprise mobility services.
Enterprise mobility & telecom services is a broad term, which comprises mobile device management, mobile application management, digital identity, mobility management services, mobile virtualization, mobility orchestration platform, telecom expense management, and telecom lifecycle management services. These services help workforce to work securely while they are roaming, which increase their productivity, engagement, and collaboration across organization.
Among organization size, the small & medium enterprises (SMEs) segment is expected to grow at the highest rate in the Workplace Transformation Market during the forecast period. SMEs are deploying digital workplace services very quickly due to their small organization infrastructure. The small and mid-sized enterprises face many infrastructures & IT related challenges, along with small staff and tight financial budget. Digital workplace services bring many advantages to SMEs such as increases workforce productivity & business efficiency, mobilize desk-based operations, speed up time to market, cost efficient, and enhanced customer experience.
Asia-Pacific (APAC) region is expected to grow at the highest rate in the Workplace Transformation Market . APAC is expected to grow at the highest growth rate in the Workplace Transformation Market during the forecast period. Most of the companies in APAC are encouraging extensive adoption of BYOD and cloud-based technology with large-scale acceptance of digital workplace services by the enterprises. There are several factors driving the growth in APAC such as rapid economic development, globalization and foreign direct investment, increasing penetration of smartphone, and internet adoption in workforce.
The major vendors in the Workplace Transformation Market are Accenture PLC (Ireland), NTT Data Corporation (Japan), Cisco Systems, Inc. (US), Atos SE (France), Hewlett Packard Enterprise Development LP (HPE) (US), Capgemini (France), Cognizant Technology Solutions Corporation (US), HCL Technologies Ltd. (India), Citrix Systems (US), Computer Sciences Corporation (CSC) (US), Wipro Ltd. (India), Unisys Corporation (US), IBM Corporation (US), Tata Consultancy Services (India), Infosys Limited (India), and Intel Corporation (US).