Press release
Growth of Global WaaS Market Shifts into High Gear with Expanding Enterprise Mobility, Expected to Reach US$18.37 bn by 2022
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The virtual workplace has been one of the latest trends in the IT sector, which has rapidly changed the work culture and business environment across the globe. Workspace-as-a-service solutions adopted by an organization offer access to its employees to several business information and applications at any time from any location. The employees are provided with a virtual desktop that appears similar to the actual desktops. WaaS solutions aid in boosting the productivity of the employees as they can access all the critical data and applications, irrespective of their location.
The growing enterprise mobility and developing bring your own device (BYOD) trend are the key factors projected to drive the global WaaS market throughout the forecast period. The introduction of application-as-a-service in the logistics and transportation industry is further anticipated to fuel the growth of the market in the near future. However, the complexity and high cost of licensing are a major restraint on the market. The lack of the necessary infrastructure and network bandwidth has also curbed the growth of the market.
By end use, the global WaaS market has been classified into BFSI, travel and hospitality, government, retail, IT and telecommunication, education, manufacturing, healthcare, and others. At present, the BFSI segment accounts for the largest share in the global WaaS market and is anticipated to remain in the leading position through the next few years. The rapid growth of this segment can be attributed to the increased adoption of centralized virtual desktop architecture technology.
Among the major geographical segments, North America is projected to lead the global WaaS market in the next few years, owing to the easy availability of developed telecommunication and IT infrastructure. Europe is expected to hold the second-largest position. On the other hand, the Asia Pacific WaaS market is estimated to grow rapidly due to the growing number of start-ups and small-sized organizations.
Furthermore, the research study offers a detailed vendor analysis of the global WaaS market, including detailed profiles of the key players operating in the market. As per the report, the global WaaS market is competitive and highly fragmented in nature. The prominent players mentioned in the research study include Colt Group S.A., IndependenceIT Corporation, Microsoft Corporation, Dell, Inc., Unisys Corporation, Econocom Group SA/NV, VMware, Inc., Getronics Global Services BV, Citrix Systems, Inc., and Amazon Web Services, Inc.
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Over the last few years, the major players in the global WaaS market have been focusing on mergers and acquisitions in order to strengthen their position in the global market. The key players are acquiring several small-sized and mid-sized WaaS vendors to provide specialized solutions to their clientele. This strategy is projected to contribute substantially towards the growth of the overall WaaS market in the next few years.
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