Workplace Transformation Market to Grow Exponentially over 2025
A workplace transformation is the spaces, which helps to accommodate different kinds of work, workers, and technology. A workplace transformation offers various benefits to organization such as increasing competitive advantage, lowering the costs, increasing the productivity, and enhancing the collaboration.
Increasing adoption of new technology and change in work culture of the enterprises are the key factors driving growth of the workplace transformation market
Increasing adoption of cloud computing, Artificial Intelligence, and automation are helping organizations to increase their productivity and enterprises mobility, which provides immense opportunities for growth of the workplace transformation market worldwide. Integration of Bring Your Own Device (BYOD) system in various organizations is major factor driving growth of the market in corporate segments, as it is more cost-effective. BYOD saves on an average US$ 350 per year, per employee. According to Coherent Market Insights analysis, adoption rate of BYOD was 36% in 2017 and it is projected to account for 75% by 2019. Moreover, the BYOD market is target to reach nearly US $367billion by 2022 from US$ 35 billion in 2015.
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The work culture has been witnessing tremendous growth due to enterprise workflow management and new technological advancements in the IT industry. The human resources and IT departments in numerous organizations are working together to create a workspace environment, which ensures the smooth and flexible functioning of their business processes. The business organizations have introduced digital transformation in their workplace, which provides high employee satisfaction and more productivity.
Global workplace transformation Outlook – North America holds the largest share in the global workplace transformation market.
On the basis of geography, a global workplace transformation market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America held a dominant position in the market in 2017 and is estimated to retain its dominance throughout the forecast period. The U.S. and Canada are some of the major economies driving growth of the market in this region. Most of the companies in North America are highly adopting the BYOD and cloud-based technology with large-scale acceptance of digital workplace services by the enterprises. According to the Coherent Market Insights analysis, North America witnessed largest market share of BYOD adopter with 36.10% of the global market share in 2015.
Key Companies in Global Workplace Transformation Market
Major players operating in the global workplace transformation market include Accenture PLC , NTT Data Corporation , Cisco Systems, Inc. , Atos , Hewlett Packard Enterprise Development LP (HPE) , Capgemini , Cognizant Technology Solutions Corporation , HCL Technologies Ltd., Citrix Systems, Computer Sciences Corporation (CSC), Wipro Ltd. , Unisys Corporation , IBM Corporation, Tata Consultancy Services, Infosys, and Intel Corporation.
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