Workplaces are changing their environment to suit the comfort and convenience of employees. The trend of bring-your-own-devices (BYOD) and remote working has brought a turnaround to enhance the mood of employees. According to Market Research Future (MRFR), the global workplace transformation market is expected to expand at 17% CAGR from 2017 to 2023 to touch a value of USD 22 billion.
The global workplace transformation market is predicted tremendous growth due to human resource departments in various organizations investing in the workplace to ensure smooth workflow between employees. Benefits of workplace transformation which include high employee morale, low office malaise, and lowered operational expenses can drive market growth. This is exemplified by the renovation of the Amsterdam division of Microsoft which includes smart sensors in desks and meeting rooms. This assisted them in saving floor space normally allotted to office furniture.
Enterprise mobility is likely to push the workplace transformation market growth due to the option of remote working given to employees. Moreover, development of software suites which can ensure data privacy and integrity of organizations can lead to higher adoption of the movement. Changing demographics and processes influenced by restructuring and reorganization of office hierarchies can also be an influential driver of the market.
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Major Key players
- Tata Consultancy Services (India)
- Intel Corporation (U.S.)
- NTT Data Corporation (Japan)
- Atos (France)
- IBM Corporation (U.S.)
- HCL Technologies Ltd. (India)
- Wipro Ltd. (India)
- Infosys (India)
- Citrix Systems (U.S.)
- Cisco Systems, Inc. (U.S.)
- Unisys Corporation (U.S.)
- Hewlett Packard Enterprise Development LP (HPE) (U.S.)
- Capgemini (France),
The global workplace transformation market is segmented by service type, organization size, and end-user.
By service type, it is segmented into telecom services, unified communication, and enterprise mobility. Enterprise mobility is expected to be the biggest segment in the market due to the trend of BYOD among employees. On the other hand, unified communications can gain a large market share due to being a secure medium for collaboration by teams for projects. Benefits of unified communications applications can enhance efficiency and allow for greater mobility among businesses.
By organization size, it is segmented into small, medium size, and large enterprise. Small and medium size enterprises can exhibit the highest growth rate due to adoption of digitization by these organizations to grow rapidly. Enhanced work productivity, mobilization of desk jobs, faster speed-to-market, and prioritization of customer experience are factors which can push the segment growth.
By end-user, it is segmented into BFSI, healthcare & life sciences, and government. The BFSI sector can contribute the maximum to the workplace transformation market due to digitization of data and adoption of enterprise mobility services.
North America is the biggest region for the workplace transformation market due to adoption of the latest technologies and presence of corporate parks in major cities. In addition, migration of skilled personnel to major cities in the region can drive the market demand due to human resource managers unwilling to let go of talented employees.
The Asia Pacific (APAC) region is touted to grow at a rapid clip due to digitization of office spaces and adoption of cloud for scaling their businesses. Emergence of smart offices and smart buildings which can enhance office productivity and reduce energy efficiency will be the primary driver of the regional market. Other factors which can induce market demand include foreign direct investment (FDI), adoption of smartphones in corporate spaces, and economic development.
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LIST OF FIGURES
FIGURE 1 Global Workplace Transformation Market segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Five Forces Analysis of Global Workplace Transformation Market
FIGURE 4 Value Chain of Global Workplace Transformation Market
FIGURE 5 Share of Global Workplace Transformation Market in 2017, by country (in %)
FIGURE 6 Global Workplace Transformation Market, 2017-2023,
FIGURE 7 Sub segments of Type
FIGURE 8 Global Workplace Transformation Market size by End-User, 2017
FIGURE 9 Share of Global Workplace Transformation Market by End-User, 2017 TO 2023
FIGURE 10 Global Workplace Transformation Market size by Organization Size, 2017
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