The global workplace transformation market size is projected to touch USD 41.5 billion by 2027, according to a new report by Million Insights. The market is estimated to ascend at a CAGR of 17.0% over the forecast duration 2020 to 2027. In enterprises, the workplace transformation offers flexibility and agility to the enterprises, thereby, improving their overall productivity and performance. Owing to changing work culture, organizations across the world are emphasizing on transforming their workplaces, which, in turn, is supplementing the market growth.
The workplace transformation combines the latest technologies and human behaviors, thereby, resulting in cost optimization for organizations. It further allows applications to be transferred to targeted devices from a centralized location. Improved connectivity ensures easy accessibility of data, thus increasing the agility and business velocity.
Changing demographics in the workplace and advanced mobile technologies are driving the growth of the market. Companies are increasingly adopting workplace transformation services that allow mobility, employee satisfaction, and virtualization. With the help of these services, enterprises are enabling easy access to different applications through various devices including tablets, laptops, and smartphones.
Owing COVID-19 outbreak, governments across the globe are encouraging people to stay at home and practices like Work from Home are becoming new normal. Due to this, enterprises are facing a stiff challenge to provide easy access to enterprise data to their employees. This factor is anticipated to proliferate the demand for workplace transformation market in the near future.
Further key findings from the report suggest:
- Workplace transformation helps organizations in a better understanding of their user requirements. The market is expected to witness considerable growth owing to changing work dynamics across the organizations.
- Among enterprises, SMEs are projected to witness significant growth from 2020 to 2027.
- The healthcare industry is anticipated to ascend with the highest growth rate over the forecast duration.
- Owing to the growing demand for enterprise mobility solutions, Asia Pacific is likely to witness significant growth over the forecast duration.
- Key players in the market include Cisco System, Atos, HPE, Capgemini, Intel Corporation, Citrix Systems, and IBM Corporation among others.