The total size of the workplace transformation market was USD 16.2 billion in 2022, and it will grow at a compound annual growth rate of 17.3% by the end of this decade, to reach USD 57.9 billion by 2030, as per a report by P&S Intelligence.
Creating office flexibility can set an institution different from its competitors. A big constituent in generating a flexible work atmosphere is to have supporting tech, for example enterprise mobility and telecommunication services, allowing employees to work and collaborate more efficiently, wherever they are and whatsoever is the task.
Furthermore, connected devices are a boon to all employees in addition to employers, by growing connectivity amongst devices, subsequent in faster data exchange from one worker/department/subdivision to another.
It is obvious across all industries, that the average age of the employees has come down, indicating that the future workforce will be dominated by centennials and millennials. These generations are more persuaded toward technology in contrast to their older counterpart.
While, this generation may not accomplish to their full potential in a firm structure; therefore, place of work alteration is vital to involve these generations for extracting their ideal potential.
Digital workplace alteration will bring numerous aspects of technologies, such as BYOD solutions, by giving extra freedom of work to staffs. For example, an AI in workplace will do boring work which needs less critical thinking and engross staffs in more cognitive work.
The enterprise mobility and telecom category had the largest share of revenue, for about 20%, in 2022, as it delivers facilities and flexibility, for example the BYOD policy, which makes personnel more agile and advances their overall productivity.
For improving collaboration, surge in productivity, and gain operational competence, enterprises are accepting such services. This was followed by unified collaboration and communication services, with about 15% revenue share in the past.
Furthermore, enterprise mobility and telecom services are more and more becoming a part of firms as they offer continuous operations regardless of location and improve the overall competence and productivity of the company.
Also, the upgradation of Windows operating system to Windows 10 and the cloud-based features of Office 365 where the data is stored in a data center or cloud server, has powered the pace of development of transformation of the workplace.
This let’s access to the data on an instantaneous basis from anywhere, which has developed a basic requirement for extracting optimum work results from workers.
North America dominated the workplace transformation market, with about USD 8 billion in 2022, as enterprises are more and more using digital transformation techs to efficiently for managing themselves. The increasing acceptance of unified collaboration and communications services along with enterprise mobility and telecom services by numerous business firms will drive the industry growth.
It is with the changing demographics of the workforce, the demand for the workplace transformation is increasing rapidly in the future.
