According to a new market research report Workplace Services Market by End-User Outsourcing Services (Managed Communication and Collaboration Services, Managed Mobility Services, Managed IT Asset Services), Tech Support Services, Organization Size, Vertical, and Region – Global Forecast to 2022, published by MarketsandMarkets™, Workplace services covers the managed services adopted for workplace. The workplace services market size is expected to grow from USD 71.53 Billion in 2017 to USD 120.68 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 11.0% during the forecast period.
The demand for workplace services is driven by the commoditization of workplace services, measurable business value offered by workplace services, transferring the burden of compliance to workplace services providers, and the enhanced ability to focus on core business competencies for the organizations. The workplace services market is expected to gain a major traction during the forecast period.
in-depth TOC on Workplace Services Market
65 – Tables
42 – Figures
149 – Pages
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Workplace services covers the managed services adopted for workplace. Workplace service is the practice of leveraging technologies to offer a digital workplace experience to an end-user with a strategic intent of reducing the overhead IT asset maintenance costs. The workplace services provide integrated and ubiquitous workplace services to employees for increasing their engagement and productivity, supporting the organization’s digital business strategy. The demand for workplace services is driven by the commoditization of workplace services, measurable business value offered by the workplace services, shift of the burden of compliance to workplace services providers, and the enhanced ability of organizations to focus more on their core business competencies are driving the workplace services market.
The workplace services market is broadly classified by service type, organization size, vertical, and region. The scope of the service type covers end-user outsourcing services and tech support services, where the end-user outsourcing services have been further segmented by managed communication and collaboration services, managed IT asset services, and managed mobility services.
The tech support services type is expected to have the fastest growth rate during the forecast period. Managed IT infrastructure service providers offer end-to-end IT support to end-users in enterprises. These services include service desks, self-service, and onsite/desk side support services. The diverse range of technologies and platforms across enterprises demands the presence of an accessible, resourceful IT environment that can bear all calamities. The rapid change in technology, introduction of cloud and mobility in organizations, and skilled workforce have also created the need for a single point of connection, which can handle all IT-related issues. This need is expected to raise the demand for tech support services during the forecast period.
The managed IT asset services segment is projected to hold the largest market share in the workplace services market during the forecast period. In an era of the convergence of business, IT, and cloud, maintaining a resourceful IT environment is critical for system administrators. It is important for organizations to outsource IT asset management services prudently to achieve IT operational efficiency, long-term asset management, and auditing, compliance, and financial accountability. Managed IT asset services handle asset discovery; asset tracking, reporting, and alerting; and asset life cycle management. Hardware and software life cycle management is a significant aspect of managed IT asset services.
The telecom, IT, and ITES vertical is projected to grow at the highest CAGR during the forecast period. To increase the focus on innovation and efficiency, telecom operators outsource their IT assets and business needs to workplace service providers. Workplace service providers handle the workplace transformation by helping telecom operators focus more on their core competencies for innovating products, improving services, and extending the reach of the business models. Enterprises outsource their IT needs, such as IT assets, mobility, network, security, and communication to workplace service providers for focusing more on their core competencies and increase their efficiency.
Asia Pacific (APAC) is in the initial growth phase; however, it is expected to be the fastest-growing region in the global workplace services market. The key reason for the high growth is the presence of many service providers and their facilities, such as managed mobility and distribution centers, in this region.
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