Digital Workplace Market is Estimated to Reach USD 188.1 Billion by 2031

WESTFORD, MA, UNITED STATES, October 10, 2024 /EINPresswire.com/ -- Digital Workplace Market size was valued at around USD 33.3 billion in 2022 and is expected to rise from USD 40.4 billion in 2023 to reach a value of USD 188.1 billion by 2031, at a CAGR of 21.2% over the forecast period (2024–2031).

Digital workplace solutions raise productivity within a firm by enabling employees to make choices over gadgets that facilitate the working of their employees. Furthermore, the digital workplace market is booming with increasing BYOD and work-from-home policies by large and small businesses. In addition to this, the digital workspace enables an enterprise to easily adopt cloud computing and other newer technologies without interfering in the user experience of those entities' users. AI and machine learning algorithms can facilitate data protection in digital workplace solutions. As such, the increasing number of firms that are promoting this market growth significantly embrace digital workplace solutions. Furthermore, throughout the forecast period, the SMEs increasingly implement workplace transformation solutions thereby creating high-value opportunities for market growth in the digital workplace market.

How Service Desks Impact Employee Productivity
Businesses that are gradually transitioning to service desks and digital transformation witness an increase in demand for service desks across end-user sectors since these solutions may make realistic, sustainable, customer and business-centric digital transformation possible. With the increasing possibility of cloud and mobile services over the projection period, the market is expected to develop rapidly. This is on the back of a rise in demand for more worker engagement to provide safer interaction. Problems faced by small and medium enterprises (SMEs) are unique to their size, such as sustaining high cost over time, security vs user-friendliness, managing lots of devices, operating systems, privacy issues, and others. Obtaining and maintaining mobile hardware and software is expensive and complex. It may be too expensive for employees to have to wait weeks, let alone months, to obtain what they require. Solutions that reduce these problems are important because the adoption of this technology by business is largely dictated by cost pressures.

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Navigating the Digital Workplace Revolution with FlexSpace 5G
HCLTech, in March 2024, launched FlexSpace 5G as the next version of experience-as-a-service digital workspaces. This device seeks to increase the security and productivity of international business globally. This innovative solution allows teams of global multinational organizations to access better data and communicate more conveniently, through the powerful technology of 5G. FlexSpace 5G could bring about radical change in the nature of work for employees and teams, like in four to five years. It makes the employee feel much more involved and collaborative and allows for greater business agility. For the long term, ten years on, it would re-write all rules of the digital workplace, supporting a resilient innovative culture. The impact of FlexSpace 5G will probably positionHCLTech as a leader in the sector involved in corporate digital transformation as companies increasingly adopt hybrid models.

Innovations in Digital Workplace Industry
• In March 2024, Leading Greek insurer EthnikiAsfalistiki and the world's largest IT infrastructure services supplier, Kyndryl collaborated towards digitalizingEthniki's workplace. This program allows access to the tools, data, and applications that the employees require at any time and from anywhere.
• In February 2024, Zextras, a developer of next-generation email solutions, announced the availability of Carbonio Community Edition (CE), a modern, fully open-source digital workplace platform designed to empower companies to keep their collaborative space in-house, fully controlling and privatizing all user activity.
• In December 2022, a partnership with Workgrid Software, a smart digital workspace solutions provider, and Trianz, the services company in digital transformation technologies, announced to deliver a modern workplace with the digital assistant interacting with enterprise applications to provide workforces with personalized, contextual information and content.

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This report covers following segment:
A. Component
1. Solutions
2. Services
B. Deployment Mode
1. On-Premises
2. Cloud-Based
C. Organization Size
1. Enterprises
2. SMEs
D. Vertical
1. BFSI
2. Consumer Goods and Retail
3. Telecommunications and ITeS
4. Manufacturing
5. Healthcare and Pharmaceuticals
6. Media & Entertainment
7. Government and Public Sector
8. Others

The following are the key Digital Workplace Trends that will shape the growth of the market in the next 5 years
This report covers following players:
1. Atos
2. IBM
3. Cognizant
4. Wipro
5. Accenture
6. Fujitsu
7. Capgemini
8. Unisys
9. Stefanini
10. Ilegra
11. SONDA
12. NTT Data
13. HCL Technology
14. Zensar
15. DXC Technology

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Digital Tools Transforming Employee Experiences in the Workplace
The same need for the digital workplace market to increase flexibility has risen rapidly, just like the same need for all businesses to improve employee experiences. Credit goes to the less favorable work-life balance and tight schedules of conventional jobs. Globally, business executives would like to focus on the employee experience rather than on the customer experience because researchers have shown that those organizations which provide an engaging workplace for their employees can obtain a 50% better consumer experience. Large companies have embraced the digital workplace immediately to give a better customer experience. The adoption of digital workplace tools and technology has been helpful in offering flexibility and great experience for employees in this competitive climate.

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