Emphasis on Components (Solutions and Services); Organization Size (Large Enterprises and SMEs); Industry (Information and Communication Technology, Banking and Financial Services, Media and Entertainment, Consumer Goods and Retail, and Others); and Region/Country
The global Digital Workplace Market is expected to grow at a growth rate of around 22% during the forecast period. The global digital workplace market is growing rapidly on the account of the growing demand for greater flexibility in terms of work-life balance among employees, increasing demand for desktop-as-a-service, and enhanced employee experience through a simpler and more flexible work style. A virtual workspace is a workspace that is not in physical space. Typically, this is a network of multiple workplaces technically connected regardless of geographical boundaries. Employees can therefore interact in a collaborative environment regardless of their location. Moreover, increased digitalization and increasing adoption of cloud computing is further impacting the growth of the digital workplace market. For instance, according to Eurostat, in 2020, 36% of enterprises in the European Union were using cloud computing services but in 2021, 41% of enterprises were using cloud computing services.
Atos SE, Cognizant Technology Solutions, International Business Machines Corporation, Zenstar Computer Solutions, Wipro Limited, Infosys Limited, Accenture plc, Fujitsu Limited, HCL Technologies, and DXC Technology are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst organization size, large enterprises segment to witness robust CAGR during the forecast period”
By organization size, the digital workplace market is divided into large enterprises and SMEs. The large enterprises catered to a significant share of the market. This is because many large companies are embracing easy-to-use, cloud, and innovative technologies, supported by AI and other automation technologies and software. By implementing a digital workplace strategy, enterprises can achieve increased flexibility, optimized cost, and improved services, process, and employee experience. Furthermore, it can also help in achieving improved customer experience and executive decision-making.
“Amongst industry, the information and communication technology segment to hold a significant share in the market in 2020”
Based on industry, the market is divided into information and communication technology, banking and financial services, media and entertainment, consumer goods and retail, and others. Information and communication held a significant share of the global digital workplace market in 2020. As the information and communication technology industry grows rapidly, the pandemic has increased the need for workforce flexibility and resilience. Organizations are aggressively investing in digital solutions to run their businesses and build resilience against unprecedented lockdowns.
“North America to hold a significant share in the market”
In 2020, North America held a significant share of the global digital workplace market. This is because North America is home to the major companies operating in the information and communication technology and banking and financial services companies. Moreover, North America is the most mature market for the adoption of digital workplace solutions and services. The region is a hub for various small businesses, start-ups, and medium and large enterprises. It signifies the move to secure internet of things (IoT) gateway communications, the adoption of technologies such as artificial intelligence (AI), augmented reality (AR), robotic process automation (RPA), and the rise of social collaboration outside the enterprise. Thereby the demand for digital workplaces is high in North America.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Global Digital Workplace Market Covid-19 Impact
6. Global Digital Workplace Market Revenue (usd Bn), 2020-2028f
7. Market Insights By Components
8. Market Insights By Organization Size
9. Market Insights By Industry
10. Market Insights By Region
11. Digital Workplace Market Dynamics
12. Digital Workplace Market Opportunities
13. Digital Workplace Market Trends
14. Demand And Supply-side Analysis
15. Value Chain Analysis
16. Competitive Scenario
17. Company Profiled
18. Disclaimer
Research Methodology for the Digital Workplace Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global digital workplace market were the three major steps undertaken to create and analyze the adoption of digital workplace in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global digital workplace market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the digital workplace market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the digital workplace market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as components, organization size, and industry. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the digital workplace market. Further, we conducted factor analysis using dependent and independent variables such as components, organization size, and industry of the digital workplace. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Digital Workplace market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global digital workplace market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global digital workplace market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of components, organization size, and industry in the global digital workplace market.
The main objective of the Global Digital Workplace Market Study
The current & future market trends of the global digital workplace market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
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