Workplace Transformation Market Size, Share, Growth Analysis, By Service(Application Management, Asset Management), By Enterprise Size(Large Enterprise, Small & Medium Enterprise (SME)), By End-use(BFSI, Government) - Industry Forecast 2024-2031

Workplace Transformation Market size was valued at USD 18.9 Billion in 2022 and is poised to grow from USD 22.25 Billion in 2023 to USD 81.93 Billion by 2031, at a CAGR of 17.7% during the forecast period (2024-2031). 

It is being observed that market participants spend money on R&D projects to support growth and improve their internal business processes. Companies can be observed participating in collaborations, mergers, and acquisitions in order to improve their goods and acquire a competitive edge in the workplace transformation industry. To attract new clients and increase market share, they are successfully developing new products and improving existing ones. For instance, in 2021 Accenture announced the acquisition of Population Insight, a business administration consultancy, to strengthen its workforce management capabilities & support its capacity to provide Human Resources (HR) transformations to its clients. With this acquisition, Accenture will increase its planning capabilities & advisory services and offer its clients supplementary analytical and data technology solutions. 'Microsoft Corporation', 'Cisco Systems, Inc.', 'IBM Corporation', 'Citrix Systems, Inc.', 'VMware, Inc.', 'Dell Technologies Inc.', 'Hewlett Packard Enterprise Development LP', 'Oracle Corporation', 'Accenture plc', 'Infosys Limited', 'Capgemini SE', 'Cognizant Technology Solutions Corporation', 'Atos SE', 'Fujitsu Limited', 'Wipro Limited', 'Tata Consultancy Services Limited', 'HCL Technologies Limited', 'NTT DATA Corporation', 'DXC Technology Company', 'Unisys Corporation'

Organizations are increasingly adopting workplace transformation solutions to support their digital transformation efforts. This includes implementing technologies such as cloud computing, artificial intelligence, and automation to enhance productivity, collaboration, and agility in the workplace.

Remote Work and Hybrid Workforce: The COVID-19 pandemic has accelerated the adoption of remote work and hybrid workforce models. Organizations are implementing workplace transformation strategies to support flexible work arrangements and provide employees with the necessary tools and technologies to work remotely.

North America held a 34.3% sales share and dominated the workplace transformation market. The use of emerging technologies like BYOD, AI, and business mobility management remedies, among others, is thought to be a contributing factor to regional growth. Cloud technologies are being quickly adopted by a number of workplace transformation service providers in the area, and AI is being incorporated into their service offerings. The region also has a significant demand for computer software and solutions for robotics because of the region's active industrial, retail, and automotive sectors. This ultimately spurs the growth of markets in the area throughout the anticipated period.