Demand for greater flexibility, improved employee experience, and cost optimization are expected to boost digital workplace market growth during the anticipated period

Market Research Future (MRFR) announces the publication of its half-cooked research report—Global Digital Workplace Market, 2019–2027.

According to Market Research Future, the global digital workplace market has been segmented into component, deployment, organization size, vertical, and region/country. The global digital workplace market size is expected to register an exponential CAGR of 15.16% from 2023 to 2030 and reach USD 90.5 billion by 2030.

Technology has changed the way employees work. The workplace is no longer a physical location that employees need to go to. Instead, organizations now operate through digital workplace platforms that can be accessed from anywhere, anytime, as long as employees have a device (laptop, computer, etc.) and internet connectivity. A digital workplace is the fundamental set of digital tools employees use to get work done. It can be anything from virtual meeting tools to instant messaging, enterprise social media tools, and automated workflows, among others.

A digital workplace is a cloud or on-premise-based work platform that allows organizations to move work to the virtual space. A digital workplace platform comprises all the tools, applications, data, and collaboration features employees need to perform work within a reliable online interface that they can access from any time, anywhere, and on any device.

Furthermore, the digital workplace gives employees access to all the advanced tools that they need to handle their everyday job, such as project management, collaboration, and process management, among several others. As a virtual replacement of physical offices, a digital workplace helps integrate all the distinct business applications used within the organization to make it easier for employees to access the essential tools and business data through one single platform.

Segmental Analysis

Based on the component, the digital workplace market has been segmented into solutions and services. The services segment is expected to exhibit the fastest CAGR rate during the projected period. Furthermore, solutions are classified into Unified communication and collaboration, Unified endpoint management, and Enterprise mobility and management. Moreover, the services segment has been bifurcated into professional services and managed services. Based on the deployment, the market has been bifurcated into cloud and on-premises. The cloud segment is expected to exhibit the fastest CAGR rate during the projected period. Based on the organization size, the digital workplace market has been segmented into SMEs and large enterprises. SMEs are expected to exhibit the highest CAGR during the forecast period. Based on the vertical, the market has been classified into BFSI, telecommunication and ITes, manufacturing, healthcare and pharmaceuticals, government and public sector, media and entertainment, retail & consumer goods, and others. BFSI, telecommunication and IT, and manufacturing sectors contribute a significant share within the digital workplace market.

Regional Analysis

North America holds the largest share in the global market

North America holds the leading share within the digital workplace market; this can be attributed to the early adoption of advanced technologies across enterprises. The US and Canada are the major growth engines of the market. The US and Canada are mature markets in the digital workplace space as major enterprises have embraced the tools and services early. Moreover, the swift adoption of technologies such as Artificial Intelligence (AI), Augmented Reality (AR), and Robotic Process Automation (RPA) is also augmenting the market growth. Social media collaboration outside the enterprise has considerably propelled the market growth in the region, especially in the US. The leading digital workplace vendors in the region are also a major factor behind this growth.

Europe Enjoys the second-highest share in global digital workplace market

The Europe region holds the second position in the global market in terms of revenue. The UK, Germany, and France are the major growth engines of the market. The UK holds the leading share within the European digital workplace market. This can be attributed to the presence of several large to SMBs in the country coupled with the early adoption of advanced platforms among the organizations. High IT spending is also a major factor driving the growth. Germany and France have contributed significant revenue for the European market and are expected to exhibit the fastest growth during the forecast period. Benelux and Nordic countries have shown significant adoption of the digital workplace approach in their businesses.

The APAC region is expected to be the fastest-growing region

Asia-Pacific is expected to register the highest CAGR rate during the forecast period. Asia-Pacific region has witnessed rapid growth in the market owing to the increased adoption of digital workplace approaches =among small and medium-sized enterprises. The companies have come to know the importance of employee engagement to offer a better customer experience and more profit. Thereby, SMEs are expected to embrace digital workplace solutions to achieve cost optimization. The countries such as China, Japan, India, South Korea, and Australia are the major growth engines of the APAC region's digital workplace market growth.  Besides, Southeast Asian countries are also emerged as the major market for the digital workplace in recent years. They are expected to open new avenues for the market during the projected period.

Digital Workplace Market Key Players

International Business Machines Corporation (US), Cognizant Technology Solutions Corporation (US), Zensar Technologies (India), Wipro Limited (India), HCL Technologies (India), Atos (France), Capgemini SE (France), NTT Data Corporation (Japan), Infosys Limited (India), DXC Technology (US), Accenture plc (Ireland), Fujitsu Limited (Japan), Unisys Corporation (US), The Hewlett Packard Enterprise Company (US), Tata Consultancy Services (India), and CompuCom Systems Inc. (US) are the key companies of the global digital workplace market.