Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
The market dynamics of the digital workspace are shaped by various factors that influence supply, demand, and overall industry trends. One significant driver of this market is the increasing adoption of remote work and hybrid work models by organizations worldwide. With the proliferation of digital technologies and the growing trend towards flexible work arrangements, there is a growing need for digital workspace solutions that enable employees to access applications, data, and collaboration tools from any location and device, driving demand for these solutions.
Technological advancements play a crucial role in driving the market dynamics of the digital workspace. As cloud computing, mobile technology, virtualization, and collaboration tools evolve, digital workspace providers are continually innovating to deliver more seamless, secure, and user-friendly experiences for employees. This includes the development of unified communication and collaboration (UCC) platforms, virtual desktop infrastructure (VDI) solutions, identity and access management (IAM) tools, and endpoint security solutions to enhance productivity, connectivity, and data protection in the digital workplace.
Another factor influencing market dynamics is the increasing focus on employee experience and productivity. As organizations seek to attract and retain top talent in a competitive labor market, they are investing in digital workspace solutions that empower employees to work more efficiently, collaborate effectively, and maintain work-life balance. User-centric design, personalized experiences, and intuitive interfaces are becoming essential features of digital workspace solutions as organizations prioritize employee satisfaction and engagement.
The competitive landscape also plays a significant role in shaping market dynamics. Major players in the industry, including companies like Microsoft, VMware, Citrix Systems, Google, and Slack, compete for market share by offering a wide range of digital workspace solutions with different features, capabilities, and pricing models. Competition among providers drives continuous innovation in product development, customer service, and pricing strategies, benefiting organizations with a variety of options to choose from.
Additionally, market dynamics are influenced by regulatory requirements and compliance standards. Organizations must ensure that their digital workspace solutions comply with data privacy regulations such as GDPR (General Data Protection Regulation) and industry-specific compliance requirements such as HIPAA (Health Insurance Portability and Accountability Act) for healthcare organizations. Compliance with security standards such as ISO 27001 and SOC 2 is also essential for ensuring the confidentiality, integrity, and availability of data in the digital workspace.
Economic factors also impact the market dynamics of the digital workspace. Budget constraints, cost considerations, and return on investment (ROI) calculations may influence purchasing decisions among organizations, especially in industries facing financial challenges or market uncertainties. Digital workspace providers may offer flexible pricing models, subscription-based licensing, and cost-effective deployment options to accommodate the budgetary needs of organizations and drive adoption of their solutions.
Furthermore, market dynamics are shaped by emerging trends and technologies in the digital workspace industry. Trends such as the rise of remote work, bring-your-own-device (BYOD) policies, and the Internet of Things (IoT) are driving demand for digital workspace solutions that enable secure access to corporate resources from any device, anywhere. Other trends, such as the integration of artificial intelligence (AI) and machine learning (ML) capabilities into digital workspace platforms, are reshaping the way organizations manage and optimize their digital workplace environments.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | Component, Organization Size, Deployment Model, Vertical and Region |
Digital Workspace Market Highlights:
Global Digital Workspace Market Overview
Digital Workspace Market Size was valued at USD 15261.15 billion in 2022. The Digital Workspace market industry is projected to grow from USD 41.7 billion in 2023 to USD 38194 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 16.2% during the forecast period (2024 - 2032). The global market for digital workplace is witnessing a significant growth rate driven by various factors, such as the increasing need for a digital workplace environment and the rising adoption of cloud-based deployments for remote work.
Digital Workspace Market SIZE (USD BILLION) (2018-2032)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Digital Workspace Market Trends
-
Rising adoption of cloud-based deployments for remote work
The development of the cloud computing sector has significantly increased, in this new era of remote work. Organizations have been forced to accelerate their shift to the cloud in order to prosper in the digital age. Corporate agility, cybersecurity, and remote work management are just a few of the new company objectives and priorities that have evolved. According to the MRFR report, end-user expenditure on public cloud services worldwide was projected to increase by 16.2% to 15261.15 billion in 2022, underscoring the cloud's potential. In addition, more people are using cloud-based services to boost productivity and reduce operating costs. Hardware maintenance doesn't require a workforce, and it produces outcomes more quickly and effectively while also being totally adjustable. Employees may perform analysis on data in real time from remote locations thanks to the cloud-based solution. The use of cloud-based digital workplace services is anticipated to increase along with market expansion due to lower maintenance costs and a decrease in labor costs.
Digital Workspace Market Segment Insights
Digital Workspace by Component Insights
The Digital Workspace market segmentation, based on Component, includes Solution and Services. Solution segment held a largest market share in terms of revenue and further solution segment is divided into Unified Communication and Collaboration, Unified Endpoint Management, Enterprise Mobility and Management, Others. The adoption of workplace solutions such as social and collaborative tools, cloud storage tools, and content management systems by end-users to improve resource utilization and productivity is driving category growth.
Digital Workspace Organization Size Insights
According to Organization Size, the segment is divided into SMEs, Large Enterprises. SMEs segment anticipated to dominate in terms of CAGR in upcoming period.
Digital Workspace Market SIZE (USD BILLION) Organization Size 2022 VS 2032
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Digital Workspace Deployment Model Insights
According to Input Signal, the segment is divided into Cloud, On-premises. Cloud segment held a largest market share and is expected to rise significantly in terms of CAGR in the Digital Workspace industry.
Digital Workspace Market SIZE (USD BILLION) Input Signal 2022 VS 2032
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Digital Workspace Vertical Insights
According to Application, the segment is divided into BFSI, IT & Telecommunications, Retail & E-Commerce, Healthcare, Manufacturing, Government & Public Sector, Others. Growing trends of remote working, increased usage of Software as a Service (SaaS) service, and BYOD in nations such as the United States, Canada, India, China, and Australia have increased the adoption of digital workplace solutions in the IT and telecommunications industries.
Digital Workspace Market SIZE (USD BILLION) Vertical 2022 VS 2032
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Digital Workspace Regional Insights
By Region, the study segments the market into North America, Europe, Asia-Pacific, Middle East & Africa, and South and Central America. North America accounted for the largest share of revenue in 2022. The increased acceptance of emerging technologies like AI, BYOD, and business mobility management solutions, among others, can be credited to expanding the regional digital workplace market.
Asia Pacific is expected to hold its dominance at CAGR in the Digital Workspace market. Adopting new tools and technology and requiring workers to be more adaptive regarding work-life balance are important aspects of the Asia-Pacific digital workplace market. Because of the benefits they give, digital workplace technologies are garnering a lot of attention. These benefits include effective capital utilization, which adds to increased security and application delivery. In addition, companies in this region are focusing on cost-effective work environment assistance for their employees with the help of partnerships and collaborations with service and solution providers. For instance, in Jue 2023, Espressive and Tech Mahindra collaborate to provide automated and cost-effective digital workplace help. The collaboration improves their clients' overall employee experience by automating queries in real-time via an AI-based virtual help agent.
Further, the countries considered in the scope of the Digital Workspace market are the US, Canada, Mexico, UK, Germany, France, Spain, Italy, China, Japan, India, South Korea, GCC Countries, South Africa, Brazil, Argentina, and others.
Digital Workspace Market SIZE (USD BILLION) REGION 2022 VS 2032
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Digital Workspace Key Market Players & Competitive Insights
Major market players are spending a lot of money on R&D to increase their product lines, which will help the Digital Workspace market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Digital Workspace industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
Key Companies in the Digital Workspace market include-
- Total IT Global
- IBM Corporation
- Microsoft Corporation
- Alphabet Inc.
- VMware, Inc.
- LumApps SaaS
- Hawlett Packard Development LP.
- ATOS SE
- Cognizant
- Infosys Limited
- Asana Inc.
- Slack Technologies LLC
- Interact
- Kissflow Inc.
- MangoApps Inc.
- Powell Software
Digital Workspace Industry Developments
May 2023: IBM launched IBM Hybrid Cloud Mesh, a SaaS product helps organizations manage their hybrid multicloud architecture. IBM Hybrid Cloud Mesh is intended to streamline the process, administration, and observability of application connectivity between public and private clouds, allowing modern businesses to efficiently manage their systems across hybrid multi-cloud and diverse environments.
March 2023: Hewlett Packard Enterprise acquired OpsRamp, an IT operations management (ITOM) company. By integrating OpsRamp's hybrid digitized operation management solution with the HPE GreenLake edge-to-cloud system along with assisting it with HPE services reduces the operational difficulty of multi-vendor and multi-cloud IT infrastructures in the public cloud, colocations, and on-premises.
March 2022: Microsoft Corporation published its second annual Work Trend Index report named as, "Great Expectations: Enabling Hybrid Work Work." The firm also unveiled new capabilities for Microsoft Teams, Microsoft 365, Surface Hub, and Microsoft Viva to enable hybrid work and fulfil employees' changing workplace expectations.
May 2021: Johnson Controls collaborated with DigiCert to deliver the next level of digital trust to smart building solutions. Their alliance accelerated smart building cybersecurity by streamlining the deployment and maintenance of public key infrastructure (PKI) and digital identities.
Intended Audience
- Technology Investors
- Regulatory Industries
- Government Bodies
- Defense industry
Digital Workspace Market Segmentation
Digital Workspace Component Outlook (USD Billion, 2018-2032)
- Solution
- Unified Communication and Collaboration
- Unified Endpoint Management
- Enterprise Mobility and Management
- Others
- Services
- Professional Services
- Managed Services
Digital Workspace Organization Size Outlook (USD Billion, 2018-2032)
- SMEs
- Large Enterprises
Digital Workspace Deployment Model Outlook (USD Billion, 2018-2032)
- Cloud
- On-premise
Digital Workspace Vertical Outlook (USD Billion, 2018-2032)
- BFSI
- IT & Telecommunications
- Retail & E-Commerce
- Healthcare
- Manufacturing
- Government & Public Sector
- Others
Digital Workspace Regional Outlook
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
- South America
- Brazil
- Argentina
- Rest of South America
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
