Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
---|---|---|---|
USD 11.41 Billion | USD 24.43 Billion | 8.83% | 2023 |
According to the report published by Zion Market Research, the global Workstyle Transformation Market size was valued at USD 11.41 Billion in 2023 and is predicted to reach USD 24.43 Billion by the end of 2032. The market is expected to grow with a CAGR of 8.83% during the forecast period. The report analyzes the global Workstyle Transformation Market's growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Workstyle Transformation industry.
Workstyle transformation is a technique adopted by companies to achieve the maximum potential performance of the employees to extract high value to the company. It can be done in several ways like introducing an in-house appraisal & reward system and motivating staggered communing hours with the help of the flextime system. Moreover, to gain high performance from staff and enhance productivity & efficiency, companies are adopting workstyle transformation across the globe and are boosting the global workstyle transformation market growth.
The foremost factor driving the global workstyle transformation market is the surging need for the agile workforce for improved productivity in the organization. The adoption of innovative technologies like industry 4.0, machine learning, internet of things (IoT) is anticipated to boost the market and provide lucrative growth opportunities. Companies are innovating new products to implement workstyle transformation in the organization and thus propel the global workstyle transformation market growth significantly. Various other factors like instant messaging, collaborations, adoption of automation tools, digital workplace service, virtualization of core applications, and many more are increasing demand for enhanced flexibility and thus boosting the growth of the global workstyle transformation market. Furthermore, the demand for efficient cooperative teamwork also fuels market growth globally.
There is an on-going trend to bring your own device (BYOD) which also encourages digital workplace transformation services. Workstyle reforms across the globe have enhanced corporate flexibility.
The outbreak of COVID-19 has positively shaped the global workstyle transformation market. Companies who have started the workforce transformation are running their operations remotely and they are found to be more efficient with remote working by adopting the workstyle transformation solutions. Even with the work from home process, the companies can effectively communicate with the employees in a very secure manner. The positive results out of these have led the organization to think about implementing and investing in workstyle transformation which further boosts the market growth globally.
The global workstyle transformation market can be segmented into components, organization size, end-user, and region.
By Component, the market can be segmented into service and solution.
By Organization Size, the market can be segmented into small & medium-sized enterprises and large enterprises. The small & medium enterprises segment holds the largest share in the global workstyle transformation market.
By End-User, the market can be segmented into travel & hospitality, education, IT & telecom, manufacturing, BFSI, government & public sector, and others. The IT & telecom segment holds hegemony over others due to the increasing proliferation of tablets and mobile phones.
Report Attributes | Report Details |
---|---|
Report Name | Workstyle Transformation Market |
Market Size in 2023 | USD 11.41 Billion |
Market Forecast in 2032 | USD 24.43 Billion |
Growth Rate | CAGR of 8.83% |
Number of Pages | 210 |
Key Companies Covered | Toshiba, Panasonic, NTT DATA, NEC, Lenovo, IBM Corporation, Hitachi Vantara, Hewlett Packard Enterprise, Fujitsu, Dell Inc, CGI Inc |
Segments Covered | By Component, By Organization Size, By End-User and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2023 |
Historical Year | 2018 to 2022 |
Forecast Year | 2024 - 2032 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
North America is anticipated to have the largest share in the global workstyle transformation market due to the presence of prominent market players and technological advancements made in the region. Moreover, organizations are increasingly adopting the workstyle transformation solution to encourage and enhance the productivity of the employees.
Asia Pacific is expected to grow significantly during the forecast period due to the emerging economies of several developing countries like India and China. The increasing adoption of BYOD and cloud-based technology has boosted regional growth. Moreover, increasing foreign investments and globalization contribute heavily to regional growth.
Middle East Africa is among the potential regions anticipated to grow significantly owing to the growing economy.
Some of the significant players in the global workstyle transformation market are:
The Global Workstyle Transformation Market is segmented as follows:
by Component
Organization Size
By End User
FrequentlyAsked Questions
The foremost factor driving the global workstyle transformation market is the surging need for the agile workforce for improved productivity in the organization. The adoption of innovative technologies like industry 4.0, machine learning, internet of things (IoT) is anticipated to boost the market and provide lucrative growth opportunities.
Some of the significant players in the global workstyle transformation market are Toshiba, Panasonic, NTT DATA, NEC, Lenovo, IBM Corporation, Hitachi Vantara, Hewlett Packard Enterprise, Fujitsu, Dell Inc, and CGI Inc.
North America is anticipated to have the largest share in the global workstyle transformation market due to the presence of prominent market players and technological advancements made in the region. Asia Pacific is expected to grow significantly during the forecast period due to the emerging economies of several developing countries like India and China.
According to Zion Market Research, The Global Workstyle Transformation Market was valued at USD 8.85 Billion in 2020 and is projected to reach USD 18.06 Billion by 2026.
The CAGR value of the workstyle transformation market is expected to be around 9.2% during 2020-2026.
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