PUBLISHER: The Business Research Company | PRODUCT CODE: 1414534
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414534
“Remote Workplace Services Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on remote workplace services market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for remote workplace services? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The remote workplace services market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Remote workplace services comprise a set of technology-enabled solutions and tools designed to facilitate employees working from locations outside the traditional office environment. This not only enhances productivity but also results in time and cost savings.
The main components of remote workplace services include solutions and services. Solution components encompass unified communication and collaboration, unified endpoint management (UEM), and enterprise mobility management (EMM). UEM consolidates various aspects of EMM suites, providing enhanced management capabilities for a broader range of devices by extending EMM features to laptops and desktops. UEM tools are instrumental in enabling enterprises to swiftly transition to remote work. These services are utilized by both large enterprises and small and medium enterprises, with deployment options available through on-premises and cloud-based remote workplace services. Industries such as telecommunications, banking, financial services, and insurance, IT and ITEs, manufacturing, retail and consumer goods, media and entertainment, healthcare and life sciences, government and public sectors, among others, benefit from the use of remote workplace services.
The remote workplace services market research report is one of a series of new reports from The Business Research Company that provides remote workplace services market statistics, including remote workplace services industry global market size, regional shares, competitors with a remote workplace services market share, detailed remote workplace services market segments, market trends and opportunities, and any further data you may need to thrive in the remote workplace services industry. This remote workplace services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The remote workplace services market size has grown exponentially in recent years. It will grow from $25.88 billion in 2023 to $31.84 billion in 2024 at a compound annual growth rate (CAGR) of 23.0%. The growth observed in the historic period of remote workplace services can be attributed to various factors. These include the emphasis on business continuity planning, the pursuit of cost efficiency and flexibility in work arrangements, increased focus on employee well-being, growing concerns about cybersecurity, and the trends of globalization and distributed workforces. These factors collectively contributed to the adoption and expansion of remote workplace services during the specified historical timeframe.
The remote workplace services market size is expected to see exponential growth in the next few years. It will grow to $73.14 billion in 2028 at a compound annual growth rate (CAGR) of 23.1%. The anticipated growth in the forecast period for remote workplace services can be attributed to several factors. These include the adoption of hybrid work models, an increased focus on enhancing employee experience, compliance with regulatory requirements, preparedness for global events and crises, and the integration of artificial intelligence (AI) and automation. Key trends expected in the forecast period include the continuation of digital transformation initiatives, advancements in communication technologies, ongoing technological developments, a focus on customization and scalability, and the dominance of cloud-based solutions. These trends collectively contribute to the expected expansion and evolution of remote workplace services in the forecasted period.
Enhanced initiatives and active employee engagement in remote work are anticipated to drive growth in the remote workplace services market. Improved initiatives in remote working involve optimizing operational structures by maintaining open communication, publicly recognizing achievements, introducing mentorship programs, and ensuring remote work is both productive and cost-efficient. Employee participation entails team and project engagement through technology, fostering social interactions, acknowledging smart objectives, and contributing to the company's growth while working remotely. The pivotal role of improved initiatives and employee participation in the remote workplace services market is evident in statistics from 2022, where Upwork Global Inc. reported an estimated 36.2 million Americans, or 22% of the workforce, working remotely by 2025. Additionally, according to AT&T Inc.'s study in 2022, the hybrid workplace model (combining office and remote work) is expected to surge from 42% in 2021 to 81% in 2024. Thus, these factors underscore the significance of improved initiatives and employee participation in driving the remote workplace services market.
The remote workplace services market is poised for further growth due to the increasing emphasis on achieving work-life balance. Work-life balance involves maintaining equilibrium between professional responsibilities and personal life. Prioritizing work-life balance within remote workplace services fosters a supportive environment, contributing to employee satisfaction, enhanced productivity, and overall well-being. This approach ultimately benefits the long-term performance and success of the company. Supported by evidence from a study conducted by Rob Errera's journal website in August 2023, which reported that 67% of US individuals observed improved work-life balance through remote work. Consequently, the growing preference for work-life balance serves as a significant driver for the remote workplace services market.
The remote workplace services market is witnessing a prominent trend characterized by the adoption of technological advancements. Companies within this market are strategically embracing new technologies to enhance their market positioning. A notable example is Microsoft Corporation, a leading US-based technology company, which introduced the Microsoft Viva platform in February 2021. This platform, integrated into Microsoft Teams, serves as an intranet, consolidating essential business components in a centralized location. Microsoft Viva comprises four distinct modules-insights, connections, topics, and learning-aimed at improving remote work.
Major players in the remote workplace services market are actively developing digital workplace solutions to drive market revenues. These solutions typically encompass a range of tools, including collaborative software, cloud-based platforms, communication systems, project management applications, document management systems, and intranet portals. Lenovo, a China-based technology company, exemplifies this trend by launching Digital Workplace Solutions (DWS) in May 2023. This managed services portfolio offers intelligent tools and systems to address work-related technology, security, efficiency, and employee satisfaction, thereby enhancing the employee experience and increasing productivity. The DWS portfolio provides comprehensive support, guidance, and managed services, enabling organizations to gain competitive advantages in addressing remote and hybrid workforce challenges.
In August 2022, HP Inc., a prominent US-based information technology company, acquired Poly for an undisclosed amount. This acquisition positions HP to innovate and expand its presence in two key growth sectors-workforce solutions and peripherals. Poly, a US-based company specializing in workplace collaboration solutions, enhances HP's capabilities in delivering comprehensive solutions to meet evolving workplace needs.
Major companies operating in the remote workplace services market report are Wipro Limited, HCL Technologies Limited, Capgemini SE, Atos, Accenture plc, Unisys Corporation, NTT DATA Corporation, Hewlett Packard Enterprise, VMware Inc., DXC Technology, Google LLC, Microsoft Corporation, Cognizant, Zensar Technologies Limited, Mphasis Limited, Tech Mahindra, Fujitsu Limited, The International Business Machines Corporation, TRIANZ Holdings Pvt. Ltd., Infosys Limited, Tata Consultancy Services Limited, Amazon Web Services Inc., Orange Business Services, BT Group plc, Verizon Communications Inc., AT&T Inc., Deutsche Telekom AG, Telefonica S.A., Vodafone Group plc, Citrix Systems Inc.
North America was the largest region in the remote workplace services market in 2023. The regions covered in the remote workplace services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the remote workplace services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The remote workplace services market includes revenues earned by entities by unified communication and collaboration, unified endpoint management, enterprise mobility management, managed services and professional services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.