Workplace Services Market to Grow at a CAGR of 10.6% to reach US$ 193.4 Billion from 2021 to 2028

The workplace services market was valued at US$ 88.0 billion in 2020 and is projected to reach US$ 193.4 billion by 2028; it is expected to grow at a CAGR of 10.6% from 2021 to 2028.

Technology offers numerous advantages for business. An exponential growth in applications, devices, and networks is creating positive impact in the working culture. Safer work environments, hybrid workplace, additional cybersecurity, and globally dispersed workforce are some of the aspects contributing toward the concept of modern workplace, and thereby influencing the growth of workplace services. Therefore, the well-established IT infrastructure and small & medium and large enterprises across all the regions are demanding workplace services. Enterprises of all sizes are anticipated to invest in innovative and latest technologies to operate their business effectively. Enterprises across the world are using workplace services to boost their businesses and optimize their business efforts to ensure the lowest possible investment requirements in various processes.

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Workplace Services Market: Strategic Insights

Workplace Services Market

• 
  CAGR (2020 - 2028)

  10.6%
• Market Size 2020
  US$ 88 Billion
• Market Size 2028
  US$ 193.4 Billion

Market Dynamics

GROWTH DRIVERS

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FUTURE TRENDS

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OPPORTUNITIES

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Key Players

• DXC Technology
• Wipro
• IBM Corporation
• HCL Technologies
• TCS
• NTT Data
• CompuCom
• ATOS
• UNISYS

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Service Type

• End-User Outsourcing Services and Tech Support Services

Organization Size

• Small and Medium-sized Enterprises
• Large Enterprises

Vertical

• Media and Entertainment
• BFSI
• Consumer Goods and Retail
• Manufacturing
• Healthcare and Life Sciences
• Education
• Telecom - IT and ITES
• Energy and Utilities
• Government and Public Sector

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Impact of COVID-19 Pandemic on Workplace Services Market

The COVID-19 pandemic has shaken several industries. The tremendous growth in the spread of the virus has urged governments worldwide to impose strict restrictions on the movement of vehicles and humans. Due to travel bans, mass lockdowns, and business shutdowns, the pandemic is adversely affecting economies and countless industries in various countries. The workplace services market vendors continued their operations remotely to offer the best services to their end users. Even in the pandemic, several market players continued to be well-positioned to support their end users through the crisis. The COVID-19 pandemic has propelled businesses to boost their digital transformations, which results in the eradication of traditional barriers to progress. Companies continue to help their end users by engaging virtually, modernizing and migrating applications to the cloud, allowing a remote workforce, and focusing on cybersecurity and IT resiliency.

Workplace Services Market Insights

Growing Significance of Enterprise Mobility

Enterprise mobility is a wide term that includes mobile virtualization, mobile device management, and mobile virtualization that drive productivity, enhance services, and improve user experience. The enterprise mobility industry has developed immensely since enterprises seek services that can handle all features of mobile security, ranging from device and software to data protection. In today’s time, the demand for enterprise mobility in the workforce is at the peak, especially due to the COVID-19 outbreak, which is compelling the remote working concept. Growing adoption of enterprise mobility allows businesses to control, update, and even wipe data off of devices from a distance. Enterprise mobility enables employees to safely access sensitive enterprise data without deploying applications/software on their devices. Thus, all of these advantages are propelling the demand for workplace services among all the verticals across the world.

Service Type-Based Market Insights

Based on service type, the end-user outsourcing services segment dominated the market. The end-user outsourcing services comprise network management services, remote support services, standard and ad hoc reporting and documentation, hosted virtual desktop services, software services, mobility, and security services.

Organization Size-Based Market Insights

Based on organization size, the large enterprises segment dominated the market. Large enterprises across the world are focused on cost optimization, along with increasing overall productivity. Increasing need for an integrated platform for the huge amount of data from various industries and to make critical decisions associated with aspects, such as strategy, marketing, and team management, is driving the demand for workplace services among large enterprises.

Vertical-Based Insights

Based on vertical, the telecom – IT and ITES segment continues to hold a significant share in the market. Growing telecommunications, IT, and ITES industries are highly demanding workplace services for adopting an end-to-end approach in workflow processes through mobility, collaboration, and user support while mitigating operational IT costs. The services cater to the modern requirement of digitally optimized workplaces in this sector.

The players operating in the workplace services market focus on strategies, such as partnerships mergers, acquisitions, and market initiatives, to maintain their positions in the market. A few developments by key players are listed below:

In February 2021, Unisys Corporation announced that it had partnered with Lenovo. Under this partnership, Unisys Corporation would support Lenovo's Internet of Think (IoT) Solutions with Unisys Corporation’s Digital Workplace Services.

In June 2020, Wipro announced that it had partnered with Citrix and Microsoft. Under this partnership, Wipro would leverage host services offered by Citrix and Microsoft for rapid and secure deployment of reliable digital workspaces (including application suites).

In December 2020, DXC Technology announced that it had partnered with Microsoft. Under the partnership, DXC Technology would leverage Microsoft’s suite of services, such as Dynamics 365 and Power Platform, and Microsoft 365 and Teams, to improve and enhance DXC Technology Modern Workplace Services and solution.

 

Workplace Services Market Report Scope

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By Service Type

• End-User Outsourcing Services
• Tech Support Services

By Organization Size

• SMEs
• Large Enterprises

By Vertical

• Telecom – IT and ITES
• BFSI
• Manufacturing
• Consumer Goods and Retail
• Healthcare and Life Science
• Government and Public Sector
• Energy and Utilities
• Media and Entertainment
• Education
• Others

By Geography

• North America
  • US
  • Canada
  • Mexico

• Europe
  • France
  • Germany
  • Italy
  • UK
  • Russia
  • Rest of Europe
• Asia Pacific (APAC)
  • China
  • India
  • South Korea
  • Japan
  • Australia
  • Rest of APAC
• Middle East & Africa (MEA)
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA
• South America (SAM)
  • Brazil
  • Argentina
  • Rest of SAM

Company Profiles

• DXC Technology
• Wipro
• IBM Corporation
• HCL Technologies
• TCS
• NTT Data
• CompuCom Systems Inc.
• ATOS
• UNISYS
• Fujitsu Ltd.
• Cognizant
• Accenture PLC