Workplace Transformation Market Top Key Players, Rising Technology Trends & Forecast To 2023

According to P&S Intelligence, transformation in workforce demographics and increasing encouragement for the bring-your-own-devices (BYOD) policy, which helps in improving workforce productivity and decreasing operational expenses, are some of the key factors behind the growth of the workplace transformation market. The market attained a size of $9.2 billion in 2017 and is projected to reach a CAGR of 17.5% during the forecast period (2018–2023). Workplace transformation helps organizations in revamping the physical office space and designing an attractive atmosphere for employees.

In order to improve collaboration and productivity, and boost operational efficiency, organizations are availing transformation services. Based on service, the workplace transformation market is primarily categorized into enterprise mobility and telecom, application management, unified communication and collaboration, desktop virtualization, and workplace automation. Out of these, in 2017, the enterprise mobility and telecom category held the largest revenue share in the market and is predicted to dominate it during the forecast period.

Based on industry, the market is majorly classified into banking, financial services, and insurance (BFSI), healthcare and life sciences, government, retail, and manufacturing and automotive. Of all the industries, in 2017, BFSI witnessed the highest deployment of digital workplace transformation solutions. This was due to the growing need for improving the efficiency and productivity of employees. Owing to the entry of new digital-first firms, traditional banks and insurers are working on their digital strategy so that they can stay competitive, thereby driving the workplace transformation market.  

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This policy enables the workforce to carry its own electronics, such as smartphones, laptops, and tablets, to their desks and work on them via mobility applications to easily access office data. Organizations get various advantages by having BYOD policies, as these improve employee productivity and also lower IT set up time and cost. Furthermore, the rising deployment of cloud-based apps has made the implementation of BYOD scheme easier for businesses, as these apps can be accessed anytime from anywhere, which makes it easy for employees to do their work wherever they are.

Hence, the increasing adoption of BYOD policy and deployment of cloud-based services are expected to boost the growth of the workplace transformation market during the forecast period.

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