2021 Workplace Services Market is Emerging with 10.6% of CAGR by 2028

Workplace services market was valued at US$ 88.0 billion in 2020 and it is projected to reach US$ 193.4 billion by 2028; it is expected to grow at a CAGR of 10.6% from 2021 to 2028.

Workplace services allow an organization’s workforce to work from anywhere and anytime in a protected environment. With robust workplace services, a business can enhance the potential of its workplace by optimizing employee experiences and business performance. The services comprise end-user outsourcing and tech support services in order to offer automated service, integrated support, and cloud support services to end users.

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Workplace service is likely to gain huge traction and visibility in the coming years since businesses and workers are recognizing several advantages of supporting people who need to have corporate resources available to them irrespective of their device, geographic area, or what assets they want to access. The swift change in technology, the influx of cloud and mobility in businesses, and the skilled workforce have produced the requirement for a single point of connection, which has the ability to manage IT-related concerns. This requirement is likely to surge the demand for workplace services during the forecast period. Increase in adoption of technological changes in cloud and mobility by organizations and growth in transformation of the workplace by small & medium enterprises are also likely to boost the market growth in the coming years.

North America is one of the most important regions for the adoption and growth of new technologies due to favorable government policies to boost innovation, the presence of a huge industrial base, and high purchasing power, especially in developed countries, such as the US and Canada. Hence, any impact on the growth of industries is expected to affect the region's economic growth negatively. The US is one of the prominent markets for workplace services. The factory and business shutdowns across the US, Canada, and Mexico negatively impacted various industries in 2020. However, workplace services vendors continued their operations remotely to offer the best services to their end users. Even in the pandemic, several market players continued to be well-positioned to support their end users through the crisis. The COVID-19 pandemic has propelled businesses to boost their digital transformations, which results in the eradication of traditional barriers to progress. Companies continue to help their end users by engaging virtually, modernizing and migrating applications to the cloud, allowing a remote workforce, and focusing on cybersecurity and IT resiliency.

Strategic Insights

The players operating in the workplace services market focus on strategies, such as partnerships mergers, acquisitions, and market initiatives, to maintain their positions in the market. A few developments by key players are listed below:

- In February 2021, Unisys Corporation announced that it had partnered with Lenovo. Under this partnership, Unisys Corporation would support Lenovo's Internet of Think (IoT) Solutions with Unisys Corporation’s Digital Workplace Services.

- In June 2020, Wipro announced that it had partnered with Citrix and Microsoft. Under this partnership, Wipro would leverage host services offered by Citrix and Microsoft for rapid and secure deployment of reliable digital workspaces (including application suites).

- In December 2020, DXC Technology announced that it had partnered with Microsoft. Under the partnership, DXC Technology would leverage Microsoft’s suite of services, such as Dynamics 365 and Power Platform, and Microsoft 365 and Teams, to improve and enhance DXC Technology Modern Workplace Services and solution.

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This release was published on openPR.