The Workplace Services Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Workplace Services Global Market Report 2024, The workplace services market size has grown rapidly in recent years. It will grow from $122.59 billion in 2023 to $135.44 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. The growth in the historic period can be attributed to focus on employee productivity, growth of mobile workforce, integration of unified communication, expansion of enterprise mobility management, digital workplace initiatives, focus on cost-efficiency..
The workplace services market size is expected to see rapid growth in the next few years. It will grow to $206.52 billion in 2028 at a compound annual growth rate (CAGR) of 11.1%. The growth in the forecast period can be attributed to globalization of business operations, hybrid work models, focus on diversity, equity, and inclusion, greater integration of project management tools, shift towards zero trust security models.. Major trends in the forecast period include adoption of cloud-based services, integration of artificial intelligence , flexible it service delivery models, iot integration in smart workplaces, data analytics for decision-making, sustainability initiatives, cross-platform compatibility, vendor consolidation and ecosystems..
The increasing adoption of 5G networks across the world is expected to drive the workplace services market. 5G is the 5th generation mobile network for higher speed and responsiveness of wireless networks. With increased 5G network speed, bandwidth, and lower latency, there is better connectivity in the workplace and stakeholders have a quicker and better connected experience across the workplace. For instance, according to a 2022 study conducted by a US-based telecommunications company, Verizon and a US-based consumer industry insights company, Incisiv, the overall 5G adoption stands at about 13%, which is expected to almost triple by 2024. Therefore, increasing adoption of 5G networks is expected to propel the growth of the workplace services market over coming years.
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The workplace services market covered in this report is segmented –
1) By Service Type: End-User Outsourcing Services, Tech Support Services
2) By Organization Size: Small and Medium Enterprises, Large Enterprises
3) By Vertical: Media and Entertainment, BFSI, Consumer Goods and Retail, Manufacturing, Healthcare and Life Sciences, Education, Telecom- IT and ITES, Energy and Utilities, Government and Public Sector
Subsegment: Managed Communication, Collaboration Services, Managed Mobility Services, Managed IT Asset Services
The new innovations in workplace services is a key trend in the workplace services market. Companies in the market are focusing on developing services that are highly efficient and also cater to other workplace parameters such as emotional wellness. Such innovations enable key players to gain a competitive edge in the market. For instance, in April 2022, a US-based virtual behavioral health services company, Talkspace introduced Talkspace Self-Guided, a suite of offerings for employers designed to help executives, managers, and teams prioritize and build emotional intelligence and mental wellness in and out of the workplace.
The workplace services market report table of contents includes:
1. Executive Summary
2. Workplace Services Market Characteristics
3. Workplace Services Market Trends And Strategies
4. Workplace Services Market – Macro Economic Scenario
5. Global Workplace Services Market Size and Growth
………..
31. Global Workplace Services Market Competitive Benchmarking
32. Global Workplace Services Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Workplace Services Market
34. Workplace Services Market Future Outlook and Potential Analysis
35. Appendix
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