Emphasis on Employee Satisfaction to Play Important Part in Driving Demand for Digital Workplace Services with Flexibility

ROCKVILLE, MARYLAND, UNITED STATES, June 4, 2024 /EINPresswire.com/ -- Rising preference for digital workplace market is attributed to their assistance in retaining, motivating, attracting, and engaging employees. Ability of a digital workplace to offer varied work styles will complement global market growth, which has been estimated at a value of US$ 48.7 billion in 2024. The global digital workplace market is analyzed to increase at a high-value CAGR of 21.5%, as opined in the revised study published by Fact.MR, a market research and competitive intelligence provider.

End-use sectors get customized services for digital workplaces as per their requirements. These solutions are customized when persona-based models are preferred over single services. Employee data and content are securely embedded in corporate drop boxes, cloud storage, and collaboration tools, thus allowing employees to get easy access to data irrespective of location and device used, subsequently contributing to utmost convenience in the operation process.

The widespread adoption of automation and AI technology is expected to significantly impact the automation of manual tasks, aiding organizations in streamlining processes and enhancing productivity. Many companies are now providing immediate access to enterprise applications and vital business data across various devices through the utilization of cloud services.

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Key Takeaway from Market Study

Worldwide revenue from digital workplace services is poised to reach US$ 48.7 billion in 2024. The global digital workplace market is forecasted to reach US$ 341.5 billion by the end of 2034. The market has been projected to advance at a double-digit CAGR of 21.5% from 2024 to 2034.
North America is expected to account for 24.3% share of the global market by 2034. Demand for digital workplace solutions in South Korea is expected to accelerate at a CAGR of 22.4% from 2024 to 2034. Small & medium enterprises are approximated to account for 40% of global market revenue by the end of 2034.

“Rising adoption of cloud-based applications in numerous sectors, emphasis on flexibility of employees related to work-life balance, and popular trend of bring your own device (BYOD) by several organizations contributing to high demand for digital workplace solutions,” says a Fact.MR analyst.

IBM, Tech Mahindra Limited, Accenture plc., HCL Technologies Ltd., DXC Technology Co., Capgemini SE, Infosys Ltd., Cognizant Technology Solutions Corp., Tata Consultancy Services Limited, Wipro Limited, Fujitsu Ltd., International Business Machines Corporation, Trianz, Atos SE, and Mphasis are some of the leading providers of digital workplace solutions.

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Demand for digital workplace solutions in large enterprises is anticipated to increase at a CAGR of 19.6% and reach a market valuation of US$ 204.9 billion by the end of 2034. Large enterprises benefit from professional and executive managed services, including desktop virtualization and managed mobility. These services are estimated to contribute to the adoption of digital workplace services. Multiple end-use sectors are endorsing these services for cloud computing realization, which further helps in improved outcomes.

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High Focus on Improved Employee Experience and Greater Flexibility

Digital workplaces play a crucial role in attracting, engaging, motivating, and retaining employees. Various policies within these digital workplaces allow employees to use their preferred devices and adopt different work styles. The increasing preference for persona-based models and tailored workplace bundles tailored to individual needs is expected to drive growth in the digital workplace market.

Employee data and content are securely integrated into collaboration tools, cloud storage, and corporate drop boxes, ensuring easy access regardless of time or location. This facilitates seamless work whether employees are at remote locations or in physical offices, ultimately boosting productivity and organizational agility. Digital workplace services provide the necessary support for enhancing collaboration, communication, and connections among employees.

Growing Adoption of Digital Workplace Solutions by Small & Medium Enterprises

SMEs are increasingly turning to a variety of digital workplace solutions to enhance their competitiveness by saving costs, boosting flexibility, adaptability, and productivity. Focusing on core business operations and bolstering strengths in their field is crucial for SMEs.

The need for more efficient and resilient IT infrastructures is ever-present for SMEs striving to bring their services and products to market faster and more effectively than competitors. This fuels the demand for managed services, facilitating digital workplace transformation in a cost-effective manner.

Category-wise Insights

According to a Fact.MR report, there's a trend of end users adopting digital workplace solutions more than services to boost productivity and resource utilization. Various tools like cloud storage, content management systems, and collaborative platforms are gaining more traction across different industries.
By the close of 2034, it's projected that large enterprises will command a 60% share of the global market revenue. Many of these enterprises are adopting cutting-edge technologies, particularly cloud technology, which offers user-friendly interfaces. These technologies are powered by artificial intelligence and automation, enabling real-time dashboards and facilitating the integration of future tech like VR, AR, and cognitive automation.

In the BFSI sector, it's forecasted to capture a 21% slice of the global market revenue by 2034's end. The sector's increasing preference for digital workplace solutions and services is creating opportunities for industry players. The widespread adoption of these digital workstations is expected to reduce office expenses and functional costs while enhancing operational efficiency and ensuring regulatory compliance.

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