The global digital workplace market size is expected to reach USD 54.2 billion by 2027, expanding at a CAGR of 11.3% from 2020 to 2027, according to a new report by Grand View Research, Inc.
The availability of new software and tools, demand for remote working, and focus on improved employee experience are driving the adoption of the digital workplace. Advancements in workplace technologies and Software as a Service (SaaS) have led to the implementation of cloud systems, which is driving the market.
The shift in the generational workforce has led to the adoption of digitalisation in the workplace. The utilisation of various gadgets such as smartphones, laptops, and tablets has provided ease to the mid-aged generation.
The report highlights:
- The small and medium enterprises segment is expected to grow at the highest rate of 11.8% over the forecast period. Increasing BYOD trends, remote working culture in small, medium, and large enterprises in emerging economies are expected to drive the market over the forecast period
- IT and Telecommunication segment held the largest share of more than 34.0% of the overall market in 2019
- North America held the largest market size valued at USD 7.3 billion in 2019, whereas the Asia Pacific region is poised to witness the highest CAGR of 12.5% over the forecast period
- Key players including DXC Technology Company; IBM; HCL Technologies Limited; Atos SE; NTT Data Corporation; Citrix Systems, Inc.; Tata Consultancy Services Limited; Wipro Limited accounted for a majority share of the overall market in 2019