Global Digital Workplace Market Size, Share, Growth Analysis, By Component(Solutions, Unified Communication and Collaboration), By Organization Size(Small and medium sized enterprises, and Large Enterprises.), By End User(Banking Financial Services and Insurance (BFSI), Education) - Industry Forecast 2024-2031

Global Digital Workplace Market size was valued at around USD 33.42 billion in 2022 and is expected to rise from USD 40.87 billion in 2023 to reach a value of USD 204.57 billion by 2031, at a CAGR of 22.30% during the forecast period (2024–2031).

Increased digitalization, rise in demand in desktop-as-a-service, and growing employee demand for further flexibility in terms of work-life balance all are factors that contribute to the current growth. The digital workplace offers a number of benefits that promote employee productivity without compromising ongoing corporate operations due to the growing digital technology of smart assets. For instance, in August 2021, the 16,000 employees dispersed over 40 countries of the world-renowned insurance company Munich Re and the IT services and consultancy company HCL Technologies signed a deal to collaborate on the creation of a next-generation digital workplace.

Including a global and local perspective, HCL would offer multilingual support to Munich Re's global workforce, including in the languages of Spanish, German, and Mandarin. To boost productivity and the user experience for employees, HCL will also implement a customized service desk solution and use automation and self-service. On account of the technological advances, important businesses now have new opportunities to improve their labor management.

The industry for digital workplace transformation services is driven by the advancement of mobile technologies, shifting workforce demographics, and the trend towards connected workplaces. To meet their demands and effectively finish the task, a number of future workspaces are increasingly implementing cloud services such as Infrastructure as a Service (IaaS), Backend as a Service (BaaS), Platform as a Service (PaaS), and Software as a Service (SaaS).

Furthermore, while maintaining security constraints, businesses can use cloud services to give fast access to business-critical data and enterprise applications on a number of devices, such tablets, smartphones, and laptops. During the course of the forecast period, these factors are expected to offer growth opportunities for the major players operating in the global digital workplace market.

US Digital Workplace Market  is poised to grow at a sustainable CAGR for the next forecast year.