Workplace Transformation Market Key Trend Observed Increasing Need for Mobility among the Business Organizations

The workplace transformation market is expected to reach $24.0 billion by 2023, growing at a CAGR of 17.4% between 2017-2023. The increasing need for mobility among the business organizations is the key trend observed in the market. Employees require mobile technology for resolving customers’ problem and developing an understanding of organization’s objectives and mission. To support their workforce, the organizations provide mobile devices, cloud-enabled services, applications and software to make mobility a crucial component of workplace strategy. The implementation of mobility in the workplace is helping business organizations in reducing overhead costs. It is also increasing the overall productivity, while improving communication between employees and the customers.

Based on research findings, banking, financial services and insurance (BFSI) has been the largest industry using workplace transformation, globally. The enterprise mobility and telecom services has been the largest revenue generating segment, based on services, in the global workplace transformation market. And based on organization size, large enterprises have been contributing higher revenue to the global workplace transformation market.

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Geographically, North America has been the largest contributor to the global workplace transformation market. According to the research, the business organizations in this region are increasingly using digital transformation technologies to effectively manage themselves. The increasing adoption of unified communications and collaboration services by various business organizations in North America is driving the growth of workplace transformation market.

The implementation of workplace transformation in North America is helping business enterprises to develop faster deployment, increase business agility, perform business operations effectively and eliminate huge infrastructure cost. The BFSI has been the largest industry for workplace transformation market in the region. The banking industry in this region is increasingly adopting enterprise mobility applications and smart mobile applications, which is helping it to transform the traditional banking system.

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Some of the key players in the market include Accenture PLC, Cisco Systems, Inc., Cognizant Technology Solutions Corporation, HCL Technologies Limited, Citrix Systems, Inc., Wipro Limited, Unisys Corporation, IBM Corporation, Tata Consultancy Services Limited, Infosys Limited and Intel Corporation.

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