Workspace as a service in simple words means it allows users to access their digital workspace and data from any device, anywhere in the world, making it an attractive solution for businesses and individuals with a distributed workforce or those who require flexible working arrangements. Moreover, workspace as a service providers offer their services on a subscription-based model, enabling businesses to easily manage their IT needs and quickly scale up or down as required. This also eliminates the need for businesses to invest in and maintain their own IT infrastructure.
The adoption of cloud computing has had a significant impact on the workspace as a service market, as it has enabled companies to offer flexible, scalable, and cost-effective solutions. Furthermore, the trend towards remote work has also accelerated the adoption of cloud-based workspace as a service solution, as they allow employees to access their workspaces from anywhere with an internet connection. Moreover, the workspace as a service market, increases agility and productivity by allowing employees to work from anywhere, collaborate in real-time, and access their workspaces on any device. Thus, these factors help to grow the market. However, implementing strong cybersecurity measures can be costly for workspace-as-a-service providers, as they may need to invest in specialized personnel, technologies, and infrastructure to protect their platforms and customers' data. Thus, this can increase operational costs and reduce profitability, which can act as a barrier to entry for new providers and limit the competition within the market. On the contrary, WaaS solutions and services can help businesses to reduce energy costs by leveraging the provider's data center infrastructure. Therefore, by taking advantage of these cost savings, businesses can improve their cash flow, reduce their total cost of ownership, and improve their agility and flexibility. Thus, such factors are likely to propel the workspace as a service market to new heights.
The workspace as a service market is segmented on the basis of component, deployment mode, enterprise size and industry vertical. By component, it is segmented into solution and services. By deployment mode, it is segmented into public, private and hybrid. By enterprise size, it is segmented into large enterprise and small & medium enterprise. By industry vertical, it is segmented into BFSI, IT and telecom, retail, government, manufacturing, education, travel and hospitality, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report analyzes the profiles of key players operating in the foreign exchange services market such as Amazon Web Services Inc., Citrix Systems Inc., Dell Inc., Dizzion Inc., Evolve IP, LLC, Google LLC, Microsoft, Unisys, Tech Mahindra Limited, and VMware Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the workspace as a service industry.
The adoption of cloud computing has had a significant impact on the workspace as a service market, as it has enabled companies to offer flexible, scalable, and cost-effective solutions. Furthermore, the trend towards remote work has also accelerated the adoption of cloud-based workspace as a service solution, as they allow employees to access their workspaces from anywhere with an internet connection. Moreover, the workspace as a service market, increases agility and productivity by allowing employees to work from anywhere, collaborate in real-time, and access their workspaces on any device. Thus, these factors help to grow the market. However, implementing strong cybersecurity measures can be costly for workspace-as-a-service providers, as they may need to invest in specialized personnel, technologies, and infrastructure to protect their platforms and customers' data. Thus, this can increase operational costs and reduce profitability, which can act as a barrier to entry for new providers and limit the competition within the market. On the contrary, WaaS solutions and services can help businesses to reduce energy costs by leveraging the provider's data center infrastructure. Therefore, by taking advantage of these cost savings, businesses can improve their cash flow, reduce their total cost of ownership, and improve their agility and flexibility. Thus, such factors are likely to propel the workspace as a service market to new heights.
The workspace as a service market is segmented on the basis of component, deployment mode, enterprise size and industry vertical. By component, it is segmented into solution and services. By deployment mode, it is segmented into public, private and hybrid. By enterprise size, it is segmented into large enterprise and small & medium enterprise. By industry vertical, it is segmented into BFSI, IT and telecom, retail, government, manufacturing, education, travel and hospitality, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report analyzes the profiles of key players operating in the foreign exchange services market such as Amazon Web Services Inc., Citrix Systems Inc., Dell Inc., Dizzion Inc., Evolve IP, LLC, Google LLC, Microsoft, Unisys, Tech Mahindra Limited, and VMware Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the workspace as a service industry.
Key Benefits For Stakeholders
- The study provides in-depth analysis of the global workspace as a service market along with the current & future trends to illustrate the imminent investment pockets.
- Information about key drivers, restrains, & opportunities and their impact analysis on the global workspace as a service market size are provided in the report.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the global workspace as a service market from 2022 to 2031 is provided to determine the market potential.
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Key Market Segments
By Component
- Solution
- Services
By Deployment Mode
- Public Cloud
- Private Cloud
- Hybrid Cloud
By Enterprises Size
- Large Enterprises
- Small and Medium Enterprises
By Industry Vertical
- BFSI
- IT and Telecom
- Retail
- Healthcare
- Manufacturing
- Government
- Travel and Hospitality
- Education
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
- Key Market Players
- VMware Inc.
- Microsoft
- Dell Inc.
- Google LLC
- Unisys
- Evolve IP, LLC
- Dizzion, Inc.
- Tech Mahindra Limited
- Amazon Web Services Inc.
- Citrix Systems Inc.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: WORKSPACE AS A SERVICE MARKET, BY COMPONENT
CHAPTER 5: WORKSPACE AS A SERVICE MARKET, BY DEPLOYMENT MODE
CHAPTER 6: WORKSPACE AS A SERVICE MARKET, BY ENTERPRISES SIZE
CHAPTER 7: WORKSPACE AS A SERVICE MARKET, BY INDUSTRY VERTICAL
CHAPTER 8: WORKSPACE AS A SERVICE MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, the workspace as a service market was valued at $6.5 billion in 2021, and is estimated to reach $28.6 billion by 2031, growing at a CAGR of 16.4% from 2022 to 2031.The Workspace as a Service Market is likely to experience a significant growth rate of 16.4% from 2022-2031 owing to the increasing adoption of cloud computing solutions
Workspace-as-a-service (WaaS) refers to a desktop virtualization solution used by organizations to provide their employees with access to computer-generated business setup and access to organization data from remote locations. It presents a simulated workspace that is identical to the physical office desktop. It can be used with smartphones, computers and laptops and integrated with bring your own devices (BYOD), bring your own apps (BYOA) and bring your own cloud (BYOC) solutions to minimize the risks of security breaches. It offers various other benefits, such as increased employee productivity, enhanced work-life balance, simplified file storage, consistent working environment and reduced operations costs.Rapid digitization across industries, such as banking, financial services and insurance (BFSI), retail, manufacturing, healthcare and education, represents one of the key factors creating a positive growth for the workspace as a service market. Furthermore, the growing demand for cost-effective virtual desktop virtualization and automation solutions is also contributing to the market growth. WaaS solutions enable the enterprises to facilitate log-ins from multiple users onto a virtual server and provide effective resource provisioning, load balancing and network management capabilities. Additionally, various technological advancements, such as the integration of connected devices with the Internet of Things (IoT) and cloud computing systems, are acting as other growth-inducing factors. Organizations are also increasingly adopting digital business channels for providing scalable workplace solutions on the personal devices of the employees and enhancing the overall operational efficiency. Other factors, including extensive research and development (R&D) activities, along with significant improvements in the information technology (IT) infrastructure, are anticipated to drive the market further. However, lack of awareness about the advantages of WaaS, has hindered its growth. Besides this, the need for high bandwidth paired with information technology infrastructure requirements are further obstructing the market growth.
The market also offers growth opportunities to the key players in the market. There has been a significant increase in the awareness about the importance of Workspace as a Service among customers. Moreover, WaaS solutions enable enterprises with multiple users logged into the same virtual Windows server. As WaaS providers take care of resource provisioning, load balancing, and network issues, the additional maintenance efforts and costs of the virtual desktop environments are also eliminated. Therefore, WaaS has emerged as an affordable solution that satisfies the desktop virtualization requirements of enterprises.
The Workspace as a Service market is segmented on the basis of component, deployment mode, enterprise size, industry vertical, and region. By component, it is segmented into solution, and services. By deployment mode, it is bifurcated into public cloud, private cloud and hybrid cloud. By enterprise size, it is segmented into large enterprises and small and medium enterprises. By industry vertical, it is segmented into BFSI, IT and telecom, retail, healthcare, manufacturing, government, travel and hospitality, education, and others Region wise, it is analyzed across North America (the U.S., and Canada), Europe (UK, Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
The key players profiled in the study are Amazon Web Services Inc., Citrix Systems Inc., Dell Inc., Dizzion Inc., Evolve IP, LLC, Google LLC, Microsoft, Unisys, Tech Mahindra Limited, VMware Inc. The players in the market have been actively engaged in the adoption of various strategies such as business expansion, product launch, and partnership to remain competitive and gain advantage over the competitors in the market. For instance, in May 2022, Google Cloud and SAP SE announced the expansion of their relationship, unveiling new integrations between Google Workspace and SAP’s flagship cloud ERP, SAP S/4HANA Cloud. Built on the industry’s leading cloud-native communication and collaboration platform, Google Workspace brings together the apps liked by millions of people such as Gmail, Chat, Calendar, Drive, Docs, Sheets, Meet, and others into a single integrated workspace. This partnership between SAP and Google helped both the companies to grow their market in terms of revenue and attract more customers.
Key Market Insights
By component, the solution segment was the highest revenue contributor to the market, and is estimated to reach $16.89 billion by 2031, with a CAGR of 15.0%. However, the services segment is estimated to be the fastest-growing segment with a CAGR of 18.7% during the forecast period.By deployment mode, the public cloud segment dominated the global market, and is estimated to reach $14.51 billion by 2031, with a CAGR of 14.2%. However, the private cloud segment is expected to be the fastest-growing segment with a CAGR of 20.2% during the forecast period.
By enterprise size, the large enterprises segment was the highest revenue contributor to the market, and is estimated to reach $16.06 billion by 2031, with a CAGR of 15.0%. However, the small and medium enterprises segment is estimated to be the fastest-growing segment with the CAGR of 18.4% during the forecast period.
By industry vertical, the IT and telecom segment dominated the global market, and is estimated to reach $4.88 billion by 2031, with a CAGR of 11.4%. However, the manufacturing segment is expected to be the fastest-growing segment with a CAGR of 23.0% during the forecast period.
Based on region, North America was the highest revenue contributor, accounting for $2.49 billion in 2021, and is estimated to reach $7.75 billion by 2031, with a CAGR of 12.3%.
Companies Mentioned
- VMware Inc.
- Microsoft
- Dell Inc.
- Google LLC
- Unisys
- Evolve IP, LLC
- Dizzion, Inc.
- Tech Mahindra Limited
- Amazon Web Services Inc.
- Citrix Systems Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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