PUBLISHER: The Business Research Company | PRODUCT CODE: 1662451
PUBLISHER: The Business Research Company | PRODUCT CODE: 1662451
Workplace services encompass a range of services and solutions designed to enhance the operational efficiency and comfort of an organization's work environment. These services ensure that the workplace operates smoothly, enabling employees to concentrate on their primary responsibilities while having access to essential resources and infrastructure.
The primary types of workplace services include end-user outsourcing services and tech support services. End-user outsourcing services encompass a range of offerings such as remote and onsite support, access and software management on user devices, database management, application support, and other services aimed at effectively managing workplace environments. Specific types of end-user outsourcing services include managed communication, collaboration services, managed mobility services, and managed IT asset services. Workplace services cater to organizations of varying sizes, including small and medium enterprises (SMEs) and large enterprises. They serve diverse industry verticals, including media and entertainment, BFSI (Banking, Financial Services, and Insurance), consumer goods and retail, manufacturing, healthcare and life sciences, education, telecom-IT and ITES, energy and utilities, as well as government and public sector entities.
The workplace services market research report is one of a series of new reports from The Business Research Company that provides workplace services market statistics, including workplace services industry global market size, regional shares, competitors with a workplace services market share, detailed workplace services market segments, market trends and opportunities, and any further data you may need to thrive in the workplace services industry. This workplace services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The workplace services market size has grown rapidly in recent years. It will grow from $134.75 billion in 2024 to $148.91 billion in 2025 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 $232.53 billion in 2029 at a compound annual growth rate (CAGR) of 11.8%. 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 workplace services market is poised for growth, driven by the widespread adoption of 5G networks worldwide. The advent of 5G technology, renowned for its enhanced speed, bandwidth, and reduced latency, fosters superior connectivity within workplaces, facilitating quicker interactions and a more seamlessly connected experience for stakeholders. For instance, a joint study by Verizon and Incisiv revealed a 13% overall adoption of 5G, projected to nearly triple by 2024. This surge in 5G integration is expected to significantly propel the growth trajectory of the workplace services market.
Further propelling the workplace services market is the escalating adoption of cloud technology. Cloud computing, leveraging remote servers over the internet for data storage and processing, is increasingly being embraced by organizations. Workplace services play a pivotal role in facilitating the seamless transition to cloud infrastructure, ensuring secure access to resources, fostering collaboration, and supporting remote work setups. Recent statistics from Google indicate a substantial rise in the adoption of multiple public clouds, surging from 21% in 2021 to 26% in 2022, alongside a significant increase in hybrid cloud utilization from 25% to 42.5% during the same period. This surge in cloud adoption acts as a driving force for the workplace services market.
A prominent trend within the workplace services market is the emphasis on innovative solutions catering to efficiency and holistic workplace parameters, including emotional well-being. Companies are diligently crafting services that not only boost efficiency but also prioritize mental wellness within work environments. For example, Talkspace, a US-based virtual behavioral health services company, introduced Talkspace Self-Guided in April 2022. This suite of offerings is specifically designed for employers, empowering executives, managers, and teams to prioritize and cultivate emotional intelligence and mental wellness both within and beyond the workplace, reflecting a shift towards holistic workplace services innovation.
Major companies in the workplace services market are creating technologically advanced solutions, such as digital tools, to boost efficiency, scalability, and accessibility. A digital solution refers to a technology-driven tool or platform aimed at addressing a specific issue or enhancing processes by utilizing digital technologies like software, data analytics, cloud computing, or automation. For example, in May 2023, Lenovo Solutions and Services Group (SSG), a US-based provider of IT solutions and services, introduced Digital Workplace Solutions (DWS). This initiative seeks to improve workplace efficiency and collaboration through innovative digital offerings. The DWS suite is designed to help organizations develop more flexible and productive work environments, in line with current trends in remote and hybrid work models. By leveraging advanced technology and customized services, Lenovo's Digital Workplace Solutions enable businesses to optimize their operations and enhance employee satisfaction.
In July 2023, Thompson Safety, a US-based provider of safety services, acquired Action Workplace Services for an undisclosed sum. By integrating Action Workplace Services, Thompson Safety expands its offerings to include crucial safety products and services, such as on-site first aid and fire protection, which are vital components of workplace safety management. Action Workplace Services is a US-based company that specializes in workplace services.
Major companies operating in the workplace services market are DXC Technology Company, Wipro Limited, International Business Machines Corporation, Tata Consultancy Services, Atos World Line India Pvt Ltd., NTT DATA Corporation, HCL Technologies, Fujitsu Limited, CompuCom Systems Inc., Cognizant, Unisys Corporation, Accenture PLC, Capgemini SE, T-Systems International GmbH, Zensar Technologies Limited, Infosys Limited, Tech Mahindra, Insight Enterprises Inc., Cisco Systems, Hewlett Packard Enterprise, VMware Inc., Citrix Systems Inc., Microsoft Corporation
North America was the largest region in the workplace services market share in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the workplace services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the workplace services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The workplace services market includes revenues earned by entities by offering automating and simplifying services, for a smooth-running workplace. Establishments that provide employees, and some non-employees, with the right work environment (physical, technological, and organizational) at the right time and the right place for the right cost, enabling the organization to achieve its business goals are included in this market. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Workplace Services Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on workplace services market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for workplace services ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The workplace services market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.