Overview and Scope
Workplace services provide or supports a positive work environment, in the physical office or remote locations. These services help organizations to optimize the potential of its workplace by improving both employee experiences and business performance.
Sizing and Forecast
The workplace services market size has grown rapidly in recent years. It will grow from $122.59 billion in 2023 to $135.44 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. The growth in the historic period can be attributed to focus on employee productivity, growth of mobile workforce, integration of unified communication, expansion of enterprise mobility management, digital workplace initiatives, focus on cost-efficiency..
The workplace services market size is expected to see rapid growth in the next few years. It will grow to $206.52 billion in 2028 at a compound annual growth rate (CAGR) of 11.1%. The growth in the forecast period can be attributed to globalization of business operations, hybrid work models, focus on diversity, equity, and inclusion, greater integration of project management tools, shift towards zero trust security models.. Major trends in the forecast period include adoption of cloud-based services, integration of artificial intelligence , flexible it service delivery models, iot integration in smart workplaces, data analytics for decision-making, sustainability initiatives, cross-platform compatibility, vendor consolidation and ecosystems..
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Segmentation & Regional Insights
The workplace services market covered in this report is segmented –
1) By Service Type: End-User Outsourcing Services, Tech Support Services
2) By Organization Size: Small and Medium Enterprises, Large Enterprises
3) By 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
Subsegment: Managed Communication, Collaboration Services, Managed Mobility Services, Managed IT Asset Services
North America was the largest region in the workplace services market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the workplace services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing adoption of 5G networks across the world is expected to drive the workplace services market. 5G is the 5th generation mobile network for higher speed and responsiveness of wireless networks. With increased 5G network speed, bandwidth, and lower latency, there is better connectivity in the workplace and stakeholders have a quicker and better connected experience across the workplace. For instance, according to a 2022 study conducted by a US-based telecommunications company, Verizon and a US-based consumer industry insights company, Incisiv, the overall 5G adoption stands at about 13%, which is expected to almost triple by 2024. Therefore, increasing adoption of 5G networks is expected to propel the growth of the workplace services market over coming years.
Key Industry Players
Major companies operating in the workplace services market report are DXC Technology Company, Wipro Limited, International Business Machines Corporation, Tata Consultancy Services, Atos World Line India Pvt Ltd., NTT DATA Corporation, HCL Technologies, Fujitsu Limited, CompuCom Systems Inc., Cognizant, Unisys Corporation, Accenture Plc, Capgemini SE, T-Systems International GmbH, Zensar Technologies Limited, Infosys Limited, Tech Mahindra, Insight Enterprises Inc., Cisco Systems, Hilton Hotels & Resorts, American Express, Wegmans Food Markets, Nvidia Corporation, Atlassian Corporation, Salesforce, Comcast Corporation, Hewlett Packard Enterprise, VMware Inc., Citrix Systems Inc., Microsoft Corporation
The workplace services market report table of contents includes:
1. Executive Summary
2. Workplace Services Market Characteristics
3. Workplace Services Market Trends And Strategies
4. Workplace Services Market – Macro Economic Scenario
5. Global Workplace Services Market Size and Growth
…..
32. Global Workplace Services Market Competitive Benchmarking
33. Global Workplace Services Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Workplace Services Market
35. Workplace Services Market Future Outlook and Potential Analysis
36. Appendix
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