Press release
Digital Workplace Market expected to reach USD 90.5 billion by 2030
The digital workplace is an always-connected environment that provides instant access to personalized, role-based services, data, applications, and collaboration tools required for employees to work from anywhere, on any device, at any time.
It integrates various devices, software, and hardware, including email, instant messaging, virtual meeting tools, cloud resources, and shared social media or business applications.
The digital workplace market is experiencing significant growth and transformation, driven by various factors such as technological advancements, increasing demand for smart workspaces, and the adoption of cloud-based services.
Market Size and Growth:
Digital Workplace Market Size was valued at USD 27.4 Billion in 2022. The Digital Workplace market is projected to grow from USD 33.7 Billion in 2023 to USD 90.5 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 15.16% during the forecast period (2023 - 2030).
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Key Companies in the Digital Workplace market includes:
International Business Machines Corporation
Zensar Technologies
Wipro Limited
HCL Technologies
Atos
Capgemini SE
Cognizant Technology Solutions Corporation
NTT Data Corporation
Infosys Limited
DXC Technology
Fujitsu Limited
Unisys Corporation
The Hewlett Packard Enterprise Company
Tata Consultancy Services
CompuCom Systems Inc.
Tandem
Unmind
Zoho Corporation
Torii
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Market Segmentation
The digital workplace market is segmented based on components, organization size, end-use, and region.
The service segment was the leading segment in the digital workplace market in terms of components in 2020.
The BFSI segment is expected to register significant growth in terms of market share due to increasing implementation of digital workplace solutions and services.
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Drivers and Challenges
Increasing adoption of cloud services by companies, electronic document storage, and the growth of BYOD strategies are driving market growth.
The high cost of digitizing the workplace may hinder the growth of the market over the forecast period.
The digital workplace market is witnessing rapid expansion, driven by technological advancements and the increasing need for efficient and modern workspaces. The market's growth is fueled by the adoption of cloud-based services and the increasing emphasis on digital transformation across various industries.
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