Workplace Transformation Market Size, Key Vendors, Growth Rate, Drivers, Volume and Opportunities by 2023

The global workplace transformation market is growing at a CAGR of 17.5% during 2018 – 2023 will reach $24.1 billion by 2023. Transition in workforce demographics and increasing adoption of enterprise mobility services, which help enhance workforce productivity and reduce operational expenses, are the major factors contributing to the robust growth of the market.

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On the basis of service, the workplace transformation market has been categorized into enterprise mobility and telecom services; unified communication and collaboration services; application management services; workplace automation services; workplace upgradation and migration services; desktop virtualization; asset management services; field services; service desk; and others, where “others” include data center transformation services and network management services. Enterprise mobility and telecom services contributed the largest revenue to the market in 2017.

On the basis of industry, the workplace transformation market has been categorized into banking, financial services, and insurance (BFSI); healthcare and life sciences; retail; manufacturing and automotive; government; telecom and information technology; transportation and logistics; media and entertainment; and others, where “others” include education, energy, and utilities. Of these, the BFSI industry is expected to continue generating the largest revenue in the workplace transportation market in the coming years.

During the forecast period, the workplace transformation market is expected witness the fastest growth in APAC, as many western companies are adopting the “Look East” strategy for cost-cutting and governments in various Asian countries are supporting the Industry 4.0 revolution, which stresses workplace transformation. Besides, the APAC region has become a manufacturing hub in recent years.

Some of the key players operating in the market are Accenture plc, Tata Consultancy Services Limited, Infosys Limited, Citrix Systems Inc., HCL Technologies Limited, Intel Corporation, Cisco Systems Inc., IBM Corporation, Cognizant Corporation, and Unisys Corporation.