digital workspace market

digital workspace market region

The global digital workplace market accounted for USD 24070.3 Million in 2020 and is expected to reach USD 109545.6 Million by 2028

SUITE N202, NEW YORK, UNITED STATES, October 7, 2022 /EINPresswire.com/ -- According to analysts at Zion Market Research, the global digital workspace market accounted for USD 24.07 Billion in 2020 and is expected to reach USD 109.54 Billion by 2028, growing at a CAGR of 20.9% from 2021 to 2028.

Some of the key players operating in the digital workspace are Atos, Cognizant, IBM, Wipro, Infosys, Accenture, Fujitsu, HCL Technology, DXC Technology, NTT Data, Unisys, HPE, TCS and Capgemini amongst others. These players are set to bolster the development of global digital workspace market.

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This review is based on a report by Zion Market Research, titled “Digital Workspace Market by Component (Solutions and Services), by Organization Size (Large Enterprises and SMEs) by End Use Industry (BFSI, IT & Telecommunication, Retail, Healthcare & Pharmaceuticals, Manufacturing and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028”.

Growing Demand for Flexibility of Work to Spur Market Growth

Changing work culture and a growing demand from employees for remote working capabilities in order to attain work-life balance are some key driving factors for digital workspace market in years to come. Furthermore, factors such as the increased acceptance of cloud-based installations, implementation of Industry 4.0, and the push toward digitalization across a variety of industries are driving the global digital workspace market forward.

Employees can use digital workplace solutions to better their communication, cooperation, and interactions with one another. These solutions, when implemented efficiently and effectively, enable firms to mitigate common risks, comply with regulatory requirements, and ultimately achieve business goals. Furthermore, the increased usage of digital workspaces among small and medium-sized businesses, as well as significant investment in the construction of IT infrastructure, are also expected to bolster the market's expansion.

Presence of Big Players in The Region Support North American Dominance

With the largest share, North America was a leading regional market for digital workspace in 2020 followed by Asia Pacific. The growth of this region is mainly attributed to the presence of a large number of SME’s, startups and large enterprises that have a high adoption rate of digital workplaces. Moreover, the use of technologies like Artificial Intelligence (AI), Augmented Reality (AR), and Robotic Process Automation (RPA), as well as the rise of social collaboration outside of the enterprise, are expected to drive market expansion in the area. Asia Pacific is expected to grow with the highest CAGR during the analysis period owing to a rising demand for digital solutions and increasing focus on remote working and higher customer experience in the region.

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Browse the full “Digital Workspace Market by Component (Solutions and Services), by Organization Size (Large Enterprises and SMEs) by End Use Industry (BFSI, IT & Telecommunication, Retail, Healthcare & Pharmaceuticals, Manufacturing and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.”

COVID-19 Impact Analysis
The Covid-19 pandemic has had a significant positive impact on the digital workspace market. The lockdowns and restrictions imposed to curb the spread of the virus and businesses being forced to shift to the online mode led to a widespread adoption of digital workplaces across the world. The outbreak accelerated the digital transformation of companies that were till now reluctant and made digital workplace imperative. The rise in demand for cloud solutions and business continuity tools due to Covid-19 is also expected to have a positive demand on the market.

Growth Factors
A demand for greater flexibility of work and enhanced employee experience is one of the primary factors driving the growth of the market. Factors such as the increased acceptance of cloud-based installations, the implementation of Industry 4.0, and the push toward digitalization across a variety of industries are driving the global market forward. In most firms today, the digital workplace has become an integral aspect of the work experience.

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By Region

North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa

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