CHICAGO, Feb. 15, 2019 /PRNewswire/ -- According to a new market research report "Digital Workplace Market by Component (Solutions and Services), Organization Size, Vertical (BFSI, Telecommunications and ITEs, Media and Entertainment, Retail and Consumer Goods, and Manufacturing), and Region - Global Forecast to 2023", published by MarketsandMarkets™, the Digital Workplace Market is expected to grow from USD 13.4 billion in 2018 to USD 35.7 billion by 2023, at a CAGR of 21.7% during the forecast period.
The major factors driving the Digital Workplace Market includes availability of new technologies and tools, employees' demand for greater flexibility in terms of work-life balance, and reduction in Operational Expenditure (OPEX).
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The unified communication and content collaboration segment is expected to hold the largest market size in the global Digital Workplace Market during the forecast period
Unified communications and collaboration technologies leverage the BYOD trend and integrate mobile capabilities, such as messaging, telephony, and video conferencing, thereby offering the benefits of communication capabilities on a ubiquitous, anytime basis. This has transformed the capabilities of the mobile workforce across multiple industries. The need to access unified communications through a common interface is driving the market.
The telecommunication and ITES vertical is expected to hold the largest market size in the global Digital Workplace Market during the forecast period
Telecommunications and ITES is the most significant vertical in the Digital Workplace Market. Telecom companies have to manage a huge customer base, fulfill continuously changing customer demands, and offer a variety of mobile services, TV, and phone and wireless services through various devices. Handling such complex and confidential data makes it important for this vertical to adopt digital workplace practices and enhance customer satisfaction, adopt digitalization, and maintain its competitive position in the market.
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North America is estimated to have the largest market size in the global Digital Workplace Market during the forecast period
North America is estimated to account for the highest share of the market in 2018. The region comprises developed countries, such as the US and Canada, and is considered the most advanced region in terms of adopting new and emerging technologies. Moreover, the North American region exhibits a wide presence of key industry players offering digital workplace, and its financial position enables it to invest majorly in the leading tools and technologies for effective business operations
Major vendors offering digital workplace across the globe include IBM (US), Atos (France), Wipro (India), DXC Technology (US), NTT Data (Japan), Citrix (US), Unisys (US), Capgemini (France), Cognizant (US), Accenture (Ireland), TCS (India), CompuCom (US), HCL (India), Stefanini (US), Getronics (Netherlands) and Computacenter (UK).
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