Discover trends, market shifts, and competitive outlooks for the digital workplace industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research

#What is the Projected CAGR for the Digital Workplace Market Size from 2025 to 2034?

The size of the digital workplace market has seen an impressive increase in the past few years. It is projected to expand from $49.17 billion in 2024 to reach $59.18 billion by 2025, with a compound annual growth rate (CAGR) of 20.4%. The significant growth in the previous years is a result of embracing remote work, a rise in the usage of collaborative tools, the implementation of bring your own device (BYOD) policies, increased penetration of mobile devices, and an evolving cybersecurity threat landscape.

In the coming years, the digital workplace market size is anticipated to experience remarkable growth. It is projected to reach a valuation of $143.2 billion by 2029, with a compound annual growth rate (CAGR) of 24.7%. The expected growth during the forecast period can be linked to factors such as the evolution of endpoint detection and response (EDR), advancements in identity and access management (IAM), increasing emphasis on user education and understanding, and containerization security. The forecast period is also likely to witness trends like the integration of collaboration platforms, emphasis on employee experience and engagement, a transition towards cloud-based digital workplace solutions, sophisticated digital workplace analytics, and the application of AI and automation for improving workflow. The market trend also includes growing adoption of virtual collaboration tools.

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How Are Key Drivers in the Industry Acting as Catalysts for the Growth of the Digital Workplace Market?

The digital workplace market is set to expand due to organizations increasingly adopting cloud and enterprise mobility services. Cloud services, delivered by third-party providers over the internet at the behest of client firms or customers, are used to facilitate efficient business operations. On the other hand, enterprise mobility services allow employees to access company data from their own devices, using cloud computing, thereby fueling the growth of the digital workplace sector. The benefits of cloud services for streamlining business processes remotely, such as handling large data sets to ensure quality services and business operations, cost reduction, and more, makes it a preferred choice for organizations. For example, AAG IT, a UK-based IT support services firm reported that as of June 2024, cloud infrastructure services had raked in $191 billion in revenue over the course of 2021 and 2022. Global cloud storage is anticipated to reach 200 zettabytes (2 billion terabytes) by 2025. Thus, the growing adoption of cloud and enterprise mobility services is expected to spur the expansion of the digital workplace market in the predicted timespan.

Which Segments in the Digital Workplace Offer the Most Growth?

The digital workplace market covered in this report is segmented –

1) By Components: Solutions, Services

2) By Deployment: On-Premises, Cloud

3) By Organization Size: Large Enterprises, Small And Medium Enterprises (SME)

4) By Verticals: Banking, Financial Services, And Insurance (BFSI), Consumer Goods And Retail, Telecommunication And Information Technology (IT), Manufacturing, Healthcare And Pharmaceuticals, Government And Public Sector, Media And Entertainment, Other Verticals

Subsegments:

1) By Solutions: Collaboration Tools, Document Management Systems, Workflow Automation Software, Employee Engagement Platforms, Virtual Desktop Infrastructure (VDI)

2) By Services: Consulting Services, Implementation Services, Support And Maintenance Services, Training And Development Services, Managed Services

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What Are the Fastest-Growing Geographies in the Digital Workplace Market?

North America was the largest region in the digital workplace market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital workplace market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Are the Current Market Growth and Trends in the Digital Workplace Industry?

Advances in product development is a significant trend in the digital workplace industry. Major players in this realm are focusing on incorporating technologies such as artificial intelligence in their product development strategies to deliver superior solutions and fortify their market positioning. For example, Smarten Spaces, a Singapore-based enterprise offering digital workplace services, unveiled Jumpree – a comprehensive digital workplace platform in April 2023. Through Jumpree by Smarten Spaces, it becomes convenient for employees utilising Microsoft Teams to select their office working days, align their schedules with team members, and reserve spaces that best fit their requirements. Jumpree by Smarten Spaces also enables employees to effortlessly reserve meeting and collaboration rooms, desks, and even amenities within the office, with no additional app download needed.

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What Are the Key Elements That Define the Digital Workplace Market?

A digital workplace refers to the digital ecosystem of the workplace that allows organizations to collaborate and converses with employees working remotely, hybrid, or in the office by aligning technologies and business processes. The digital workplace is used to transform traditional workplaces to improve business operations’ productivity and efficiency.

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