The Business Research Company’s report on the Workspace As A Service Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
How are market drivers shaping the future growth trajectory of the workspace as a service industry?
The rise of co-working spaces is expected to propel the growth of the workspace-as-a-service market going forward. Co-working spaces are shared workspaces where individuals and businesses can rent desks or offices and work in a collaborative environment. The increase in co-working spaces is due to shift to remote work, making coworking spaces as a preferred alternative to long commutes as they offer collaboration opportunities and a sense of community, attracting professionals who prefer social work environments. Workspace as a service (WaaS) enhances co-working spaces by offering flexible, scalable solutions that streamline management and optimize resource utilization. For instance, in January 2025, according to the coworkingcafe, a US-based coworking space platform, the national coworking inventory totaled 7,695 spaces in Q4 2024, reflecting a 2% increase from Q3 2024, which had 7,538 spaces. Therefore, the rise of co-working spaces is driving the growth of the workspace as a service market.
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What is the estimated market size of the workspace as a service sector by 2029, based on current forecasts?
The workspace-as-a-service market size has grown strongly in recent years. It will grow from $10.40 billion in 2024 to $12.12 billion in 2025 at a compound annual growth rate (CAGR) of 16.5%. The growth in the historic period can be attributed to the rise in bring your device (BYOD) policies, adoption of cloud computing, rise of co-working spaces, proliferation of mobile devices, and increasing popularity of outsourcing.
The workspace-as-a-service market size is expected to see strong growth in the next few years. It will grow to $22.11 billion in 2029 at a compound annual growth rate (CAGR) of 16.2%. The growth in the forecast period can be attributed to increasing preference for customized solutions, rise of digital transformation initiatives, increase agility and productivity in working, rising demand for managed services, rising need for enhanced security and compliance. Major trends in the forecast period include integrating advanced technologies, a trend towards remote work, emerging innovative solutions, rapid advancements in cloud technology, partnerships, and collaborations.
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#Who are the top players in the workspace as a service market?
Major companies operating in the workspace as a service market are Microsoft Corporation, Amazon Web Services Inc., Dell Inc., Accenture plc, IBM Corporation, Cisco Systems Inc., Oracle Corporation, Broadcom Inc. (VMware Inc.), Hewlett Packard Enterprise Company, Fujitsu Limited, NTT Data Corporation, Infosys Limited, DXC Technology Company, Atos SE, Wipro Limited, Tech Mahindra Limited, Rackspace Technology Inc., Econocom Group SE, Unisys Corporation, Evolve IP LLC
#What are the major trends in the workspace as a service market?
Major companies operating in the workspace-as-a-service market are focusing on advanced innovation, such as AI-driven digital employee experience that enhances productivity, streamlines workflows, and boosts engagement through personalized, automated support in hybrid and remote work environments. AI-driven digital employee experience uses AI, virtual assistants, automation, and predictive analytics to enhance productivity, engagement, and workflow efficiency in hybrid work environments. For instance, in August 2023, VMware, a US-based cloud computing company, introduced AI-driven enhancements to its Anywhere Workspace platform, which is part of the VMware Cross-Cloud services portfolio. These updates are designed to automatically improve employee experience, create new use cases for vulnerability management, and simplify the management of application lifecycles, making WaaS solutions more adaptable and effective for businesses. The innovations focus on enhancing digital employee experience (DEX), virtual desktop infrastructure (VDI/DaaS), unified endpoint management (UEM), and security, resulting in a more efficient, secure, and seamless hybrid work environment.
Which geography holds the highest workspace as a service market share?
North America was the largest region in the workspace as a service market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the workspace as a service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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How do different segments contribute to the overall expansion of the workspace as a service market?
The workspace as a service market covered in this report is segmented –
1) By Workspace Type: Virtual Desktop Infrastructure (VDI), Software As A Service (SaaS), Platform As A Service (PaaS)
2) By Deployment: Public, Private, Hybrid
3) By Organization Size: Small And Medium-Sized Businesses (SMBs), Large Enterprises
4) By End Use: Banking, Financial Services, And Insurance (BFSI), Education, Retail, Government, IT And Telecom, Healthcare, Other End Uses
Subsegments:
1) By Virtual Desktop Infrastructure (VDI): Persistent Virtual Desktop Infrastructure, Non-Persistent Virtual Desktop Infrastructure
2) By Software as a Service (SaaS): Communication and Collaboration Software, Business Process Software, Content Management Software, Enterprise Resource Planning (ERP) Software
3) By Platform as a Service (PaaS): Application Development and Testing, Application Hosting, Integration and Middleware, Business Analytics
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How is the workspace as a service market defined?
Workspace-as-a-Service (WaaS) is a cloud-based solution that provides virtual desktops and applications, enabling secure, remote access from any device. It enhances scalability, security, and cost efficiency, making it ideal for remote work, BYOD environments, and business continuity.
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