The workplace services sector was valued at approximately US$ 88.0 billion in 2020 and is anticipated to grow to US$ 193.4 billion by 2028, reflecting a compound annual growth rate (CAGR) of 10.6% from 2021 to 2028.
Workplace services empower employees to operate from any location and at any time within a secure framework. By implementing effective workplace services, organizations can significantly enhance their operational capabilities, improving both employee satisfaction and overall business performance. These services encompass end-user outsourcing and technical support, aimed at delivering automated solutions, integrated assistance, and cloud-based support to users. The demand for workplace services is expected to rise sharply in the near future as both businesses and employees recognize the numerous benefits of providing access to corporate resources, regardless of the device used, the geographical location, or the specific assets required. The rapid evolution of technology, coupled with the rise of cloud computing and mobile solutions, has created a pressing need for a centralized point of contact capable of addressing IT-related issues. This growing necessity is likely to drive the demand for workplace services throughout the forecast period. Additionally, the increasing adoption of technological advancements in cloud and mobility by organizations, along with the transformation of workplaces by small and medium enterprises, is projected to further stimulate market growth in the coming years.
The workplace services market is categorized based on service type, organization size, and industry vertical. In terms of service type, the end-user outsourcing services segment is expected to capture the largest market share during the forecast period. Regarding organization size, large enterprises have accounted for a significant portion of the market. In terms of industry verticals, the Telecom - IT and ITES sectors were the leading segments in the workplace services market as of 2020.
North America stands out as a crucial region for the adoption and expansion of innovative technologies, driven by supportive government policies that encourage innovation, a robust industrial base, and considerable purchasing power, particularly in developed nations like the United States and Canada. Consequently, any disruptions to industrial growth are likely to adversely affect the region's economic development. The United States is recognized as a key market for workplace services. In 2020, factory and business closures across the US, Canada, and Mexico had a detrimental impact on various sectors. Nevertheless, vendors of workplace services managed to maintain their operations remotely, ensuring they could provide optimal services to their end users. Even during the pandemic, many market players were well-prepared to assist their clients through the crisis. The COVID-19 pandemic has accelerated the digital transformation of businesses, effectively removing traditional barriers to advancement. Companies have continued to support their end users by engaging virtually, modernizing and migrating applications to the cloud, facilitating a remote workforce, and prioritizing cybersecurity and IT resilience.
The overall size of the workplace services market has been determined through a combination of primary and secondary research methods. The research process commenced with extensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data related to the market. This approach also aims to provide a comprehensive overview and forecast of the workplace services market across all segments. Furthermore, it offers insights and projections for the global market based on various segments across five major regions: North America, Europe, Asia Pacific, the Middle East & Africa, and South America. Additionally, primary interviews were conducted with industry participants and experts to validate the data and gain deeper analytical insights into the subject matter. Participants in this process included industry professionals such as VPs, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the workplace services market.
Key players in the global workplace services market include DXC Technology, Wipro, IBM Corporation, HCL Technologies, TCS, NTT Data, CompuCom, ATOS, UNISYS, Fujitsu, Cognizant, and Accenture PLC.