The global virtual workspace solutions market is projected to secure a fast-paced CAGR of 13.4% during the forecast period. The market is likely to be valued at US$ 16.6 billion in 2023 and is predicted to have a valuation of US$ 58.8 billion by the end of 2033.
The demand for virtual workspace solutions is on the rise due to its large adoption by employees, owing to greater flexibility in terms of work-life balance. It is also predicted that the availability of corporate data from any location is likely to accelerate the expansion of the virtual workplaces market globally.
Continued advancements in cloud technology are anticipated to support market expansion. The global market is gaining momentum as many organizations adopt these solutions to enhance the employee experience through a simpler and more flexible work style.
Virtual workspace solutions and services allow these organizations to attract a new workforce and retain more experienced expert workers. Virtual workspace solutions are used as WaaS (Workplace as a Service) and have gained immense popularity recently. Therefore, it is projected that the market is likely to witness significant growth during the forecast period.
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It is anticipated that with rapid globalization, businesses are to operate at international levels, and virtual workspace solutions are always preferred by organizations, fueling the demand for these solutions.
Virtual workspace solutions combine multiple types of collaboration and communication tools into one platform that enables the users to find all the required resources in one place, making it convenient and easy to be deployed in the virtual workspace solutions desk.
There is an increase in the demand for virtual lifecycle management facilities, improved data security, management facilities, and high availability of management tools, leading to more adoption of virtual workspace solutions and deriving the demand in the market.
The organizations are using virtual workspace solutions, as it helps them sustain in the global competition by delivering fast and cost-effective solutions to the enterprises and their employees. It streamlines multiple ends of the working line at the same time for employees as well as consumers.
The use of virtual workspace solutions allows centralized data storage and management to be easily possible, which results in a reduction of data loss and provides information security, and this serves as a key factor in driving the growth of the market.
The driving above factors, there is a continuous investment by manufacturers observed in advanced technologies for enhancing the performance of the virtual workspace solution tools, further boosting the demand for these solutions.
It is identified that although there is an end number of benefits offered to employees by virtual workspace solutions, certain factors can pose a threat and hinder the market growth during the forecast period. Some of these restraining factors are:
Therefore, these factors are anticipated to curb the market's growth during the forecast period.
| Attributes | Details |
|---|---|
| Market CAGR (2023 to 2033) | 13.4% |
| Market Valuation (2023) | US$ 16.6 billion |
| Market Valuation (2033) | US$ 58.8 billion |
Principal Consultant
| Countries | Market Value Share in 2023 |
|---|---|
| United States | 17.6% |
| Germany | 10.4% |
| Japan | 4.5% |
| Australia | 3.4% |
| Countries | Market CAGR Value in 2023 |
|---|---|
| China | 11.2% |
| India | 15.6% |
| United Kingdom | 10.7% |
North America is expected to be the prior promising region for major verticals and is anticipated to dominate the global virtual workspace solutions market. Currently, the North American regions are cumulatively accountable for 27.7% of the total market share for virtual workspace solutions.
Due to this region being the home to a huge number of enterprises, coupled with abundant technical expertise, it is more likely to adopt virtual workspace solutions on a large scale. The telecommunication, ITes, BFSI, and manufacturing sectors of North America are adopting this solution for advanced IT infrastructures, which is fueling the market size of virtual workspace solutions.
Europe is projected to hold the second-larger share of the global market. At present, the European region is accountable for 24.4% of the total market share of virtual workspace solutions.
This growth at a substantial rate over the forecast period can be attributed to the rise in the deployment of workspace tools due to their benefits, such as reduction in total costs of ownership, simplification of the management of IT infrastructure, and more.
These advantages are coupled with government grants for Research and Development activities to further expand the market size of virtual workspace solutions.
How are the Start-up Companies Revolutionizing the Global Market?
With regular advancements, the manufacturers in the start-up ecosystem for virtual workspace solutions are stepping up their efforts. Startups in the market for virtual workplace solutions are concentrating on a number of extra features for deployment to support the widespread adoption of this solution.
Startups are capturing the market with cutting-edge virtual solutions and scalable remote technologies, promoting the global market share.
| Attributes | Details |
|---|---|
| Abodoo | Founded by Wexford-based Vanessa Tierney and Ben Wainwright in 2017. The idea behind the business was that new technologies and more flexible conditions would make remote work a reality for more people. |
| Bluescape | A Silicon Valley-based SaaS company that has created a visual collaboration platform. Launched by Haworth and Obscura Digital, the platform enables individuals and teams to create, interact and share content. |
| Brandlive | A SaaS start-up that was founded in 2010 by Fritz Brumder and Ben McKinley. It offers a live video platform that brands and retailers can use to interact with their audience and employees for training, marketing, and commerce purposes. |
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What is Trending among the Key Market Players in the Global Market?
The key players in this market adopted product launch, partnership, and expansion as their key strategies to meet the changing consumer demands. Additionally, it is anticipated that mergers and acquisitions in the market for virtual workspace solutions are likely to help the acquiring company expand its footprint on both a regional and global scale, in addition to strengthening its current portfolio.
The top three players contributing to the market share are:
Accenture
In February 2021, Accenture announced the acquisition of Imagine, a provider of a cloud-based platform. The acquisition enables Accenture to enhance offerings of cloud-based services for digital services and solutions.
Atos Syntel
In December 2020, Atos joined forces with Vodafone Spain to launch a new digital workplace offering for Vodafone Business customers in Spain.
Wipro
In June 2020, Wipro launched a digital inspection solution to improve workplace safety and experience. The solution is available to clients both in perpetual or subscription-based license models, with no additional cost for mobility.
| Attributes | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | US$ billion for Value |
| Key Countries Covered | United States, United Kingdom, Japan, India, China, Australia, Germany |
| Key Segments Covered | Size of Organization, End Users, Region |
| Key Companies Profiled | Atlantis Computing; Bitrix, Inc.; Citrix Systems; Cisco Systems Inc.; Dell Inc.; Ivanti Software; Microsoft Corporation; Matrix42; RingCube Technologies; Sococo; BLUESCAPE; PRYSM; VMware, Inc.; Amazon Workspaces; BLUESCAPE |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The market is anticipated to be worth US$ 16.6 billion in 2023.
The United States with a 17.6% share will lead the market.
The market will reach US$ 58.8 billion by 2033.
By 2033, India is expected to record a CAGR of 15.6%.
Small enterprises are likely to remain popular until 2033.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Size of Organization
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Size of Organization, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Size of Organization, 2023 to 2033
5.3.1. Small Enterprises
5.3.2. Medium Enterprises
5.3.3. Large Enterprises
5.4. Y-o-Y Growth Trend Analysis By Size of Organization, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Size of Organization, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-User
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By End-User, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By End-User, 2023 to 2033
6.3.1. BFSI
6.3.2. Education
6.3.3. Government
6.3.4. Retail
6.3.5. Manufacturing
6.3.6. IT & Telecommunication
6.3.7. Healthcare
6.3.8. Travel & Tourism
6.4. Y-o-Y Growth Trend Analysis By End-User, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By End-User, 2023 to 2033
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
7.1. Introduction
7.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022
7.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033
7.3.1. North America
7.3.2. Latin America
7.3.3. Western Europe
7.3.4. Eastern Europe
7.3.5. South Asia and Pacific
7.3.6. East Asia
7.3.7. Middle East and Africa
7.4. Market Attractiveness Analysis By Region
8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
8.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
8.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
8.2.1. By Country
8.2.1.1. USA
8.2.1.2. Canada
8.2.2. By Size of Organization
8.2.3. By End-User
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Size of Organization
8.3.3. By End-User
8.4. Key Takeaways
9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Country
9.2.1.1. Brazil
9.2.1.2. Mexico
9.2.1.3. Rest of Latin America
9.2.2. By Size of Organization
9.2.3. By End-User
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Size of Organization
9.3.3. By End-User
9.4. Key Takeaways
10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. Germany
10.2.1.2. UK
10.2.1.3. France
10.2.1.4. Spain
10.2.1.5. Italy
10.2.1.6. Rest of Western Europe
10.2.2. By Size of Organization
10.2.3. By End-User
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Size of Organization
10.3.3. By End-User
10.4. Key Takeaways
11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. Poland
11.2.1.2. Russia
11.2.1.3. Czech Republic
11.2.1.4. Romania
11.2.1.5. Rest of Eastern Europe
11.2.2. By Size of Organization
11.2.3. By End-User
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Size of Organization
11.3.3. By End-User
11.4. Key Takeaways
12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Country
12.2.1.1. India
12.2.1.2. Bangladesh
12.2.1.3. Australia
12.2.1.4. New Zealand
12.2.1.5. Rest of South Asia and Pacific
12.2.2. By Size of Organization
12.2.3. By End-User
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Size of Organization
12.3.3. By End-User
12.4. Key Takeaways
13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Country
13.2.1.1. China
13.2.1.2. Japan
13.2.1.3. South Korea
13.2.2. By Size of Organization
13.2.3. By End-User
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Size of Organization
13.3.3. By End-User
13.4. Key Takeaways
14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
14.2.1. By Country
14.2.1.1. GCC Countries
14.2.1.2. South Africa
14.2.1.3. Israel
14.2.1.4. Rest of MEA
14.2.2. By Size of Organization
14.2.3. By End-User
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Size of Organization
14.3.3. By End-User
14.4. Key Takeaways
15. Key Countries Market Analysis
15.1. USA
15.1.1. Pricing Analysis
15.1.2. Market Share Analysis, 2022
15.1.2.1. By Size of Organization
15.1.2.2. By End-User
15.2. Canada
15.2.1. Pricing Analysis
15.2.2. Market Share Analysis, 2022
15.2.2.1. By Size of Organization
15.2.2.2. By End-User
15.3. Brazil
15.3.1. Pricing Analysis
15.3.2. Market Share Analysis, 2022
15.3.2.1. By Size of Organization
15.3.2.2. By End-User
15.4. Mexico
15.4.1. Pricing Analysis
15.4.2. Market Share Analysis, 2022
15.4.2.1. By Size of Organization
15.4.2.2. By End-User
15.5. Germany
15.5.1. Pricing Analysis
15.5.2. Market Share Analysis, 2022
15.5.2.1. By Size of Organization
15.5.2.2. By End-User
15.6. UK
15.6.1. Pricing Analysis
15.6.2. Market Share Analysis, 2022
15.6.2.1. By Size of Organization
15.6.2.2. By End-User
15.7. France
15.7.1. Pricing Analysis
15.7.2. Market Share Analysis, 2022
15.7.2.1. By Size of Organization
15.7.2.2. By End-User
15.8. Spain
15.8.1. Pricing Analysis
15.8.2. Market Share Analysis, 2022
15.8.2.1. By Size of Organization
15.8.2.2. By End-User
15.9. Italy
15.9.1. Pricing Analysis
15.9.2. Market Share Analysis, 2022
15.9.2.1. By Size of Organization
15.9.2.2. By End-User
15.10. Poland
15.10.1. Pricing Analysis
15.10.2. Market Share Analysis, 2022
15.10.2.1. By Size of Organization
15.10.2.2. By End-User
15.11. Russia
15.11.1. Pricing Analysis
15.11.2. Market Share Analysis, 2022
15.11.2.1. By Size of Organization
15.11.2.2. By End-User
15.12. Czech Republic
15.12.1. Pricing Analysis
15.12.2. Market Share Analysis, 2022
15.12.2.1. By Size of Organization
15.12.2.2. By End-User
15.13. Romania
15.13.1. Pricing Analysis
15.13.2. Market Share Analysis, 2022
15.13.2.1. By Size of Organization
15.13.2.2. By End-User
15.14. India
15.14.1. Pricing Analysis
15.14.2. Market Share Analysis, 2022
15.14.2.1. By Size of Organization
15.14.2.2. By End-User
15.15. Bangladesh
15.15.1. Pricing Analysis
15.15.2. Market Share Analysis, 2022
15.15.2.1. By Size of Organization
15.15.2.2. By End-User
15.16. Australia
15.16.1. Pricing Analysis
15.16.2. Market Share Analysis, 2022
15.16.2.1. By Size of Organization
15.16.2.2. By End-User
15.17. New Zealand
15.17.1. Pricing Analysis
15.17.2. Market Share Analysis, 2022
15.17.2.1. By Size of Organization
15.17.2.2. By End-User
15.18. China
15.18.1. Pricing Analysis
15.18.2. Market Share Analysis, 2022
15.18.2.1. By Size of Organization
15.18.2.2. By End-User
15.19. Japan
15.19.1. Pricing Analysis
15.19.2. Market Share Analysis, 2022
15.19.2.1. By Size of Organization
15.19.2.2. By End-User
15.20. South Korea
15.20.1. Pricing Analysis
15.20.2. Market Share Analysis, 2022
15.20.2.1. By Size of Organization
15.20.2.2. By End-User
15.21. GCC Countries
15.21.1. Pricing Analysis
15.21.2. Market Share Analysis, 2022
15.21.2.1. By Size of Organization
15.21.2.2. By End-User
15.22. South Africa
15.22.1. Pricing Analysis
15.22.2. Market Share Analysis, 2022
15.22.2.1. By Size of Organization
15.22.2.2. By End-User
15.23. Israel
15.23.1. Pricing Analysis
15.23.2. Market Share Analysis, 2022
15.23.2.1. By Size of Organization
15.23.2.2. By End-User
16. Market Structure Analysis
16.1. Competition Dashboard
16.2. Competition Benchmarking
16.3. Market Share Analysis of Top Players
16.3.1. By Regional
16.3.2. By Size of Organization
16.3.3. By End-User
17. Competition Analysis
17.1. Competition Deep Dive
17.1.1. Atlantis Computing
17.1.1.1. Overview
17.1.1.2. Product Portfolio
17.1.1.3. Profitability by Market Segments
17.1.1.4. Sales Footprint
17.1.1.5. Strategy Overview
17.1.1.5.1. Marketing Strategy
17.1.2. Bitrix, Inc.
17.1.2.1. Overview
17.1.2.2. Product Portfolio
17.1.2.3. Profitability by Market Segments
17.1.2.4. Sales Footprint
17.1.2.5. Strategy Overview
17.1.2.5.1. Marketing Strategy
17.1.3. Citrix Systems
17.1.3.1. Overview
17.1.3.2. Product Portfolio
17.1.3.3. Profitability by Market Segments
17.1.3.4. Sales Footprint
17.1.3.5. Strategy Overview
17.1.3.5.1. Marketing Strategy
17.1.4. Cisco Systems Inc.
17.1.4.1. Overview
17.1.4.2. Product Portfolio
17.1.4.3. Profitability by Market Segments
17.1.4.4. Sales Footprint
17.1.4.5. Strategy Overview
17.1.4.5.1. Marketing Strategy
17.1.5. Dell Inc.
17.1.5.1. Overview
17.1.5.2. Product Portfolio
17.1.5.3. Profitability by Market Segments
17.1.5.4. Sales Footprint
17.1.5.5. Strategy Overview
17.1.5.5.1. Marketing Strategy
17.1.6. Ivanti Software
17.1.6.1. Overview
17.1.6.2. Product Portfolio
17.1.6.3. Profitability by Market Segments
17.1.6.4. Sales Footprint
17.1.6.5. Strategy Overview
17.1.6.5.1. Marketing Strategy
17.1.7. Microsoft Corporation
17.1.7.1. Overview
17.1.7.2. Product Portfolio
17.1.7.3. Profitability by Market Segments
17.1.7.4. Sales Footprint
17.1.7.5. Strategy Overview
17.1.7.5.1. Marketing Strategy
17.1.8. Matrix42
17.1.8.1. Overview
17.1.8.2. Product Portfolio
17.1.8.3. Profitability by Market Segments
17.1.8.4. Sales Footprint
17.1.8.5. Strategy Overview
17.1.8.5.1. Marketing Strategy
17.1.9. RingCube Technologies
17.1.9.1. Overview
17.1.9.2. Product Portfolio
17.1.9.3. Profitability by Market Segments
17.1.9.4. Sales Footprint
17.1.9.5. Strategy Overview
17.1.9.5.1. Marketing Strategy
17.1.10. Sococo
17.1.10.1. Overview
17.1.10.2. Product Portfolio
17.1.10.3. Profitability by Market Segments
17.1.10.4. Sales Footprint
17.1.10.5. Strategy Overview
17.1.10.5.1. Marketing Strategy
17.1.11. BLUESCAPE
17.1.11.1. Overview
17.1.11.2. Product Portfolio
17.1.11.3. Profitability by Market Segments
17.1.11.4. Sales Footprint
17.1.11.5. Strategy Overview
17.1.11.5.1. Marketing Strategy
17.1.12. PRYSM
17.1.12.1. Overview
17.1.12.2. Product Portfolio
17.1.12.3. Profitability by Market Segments
17.1.12.4. Sales Footprint
17.1.12.5. Strategy Overview
17.1.12.5.1. Marketing Strategy
17.1.13. VMware, Inc.
17.1.13.1. Overview
17.1.13.2. Product Portfolio
17.1.13.3. Profitability by Market Segments
17.1.13.4. Sales Footprint
17.1.13.5. Strategy Overview
17.1.13.5.1. Marketing Strategy
17.1.14. Amazon Workspaces
17.1.14.1. Overview
17.1.14.2. Product Portfolio
17.1.14.3. Profitability by Market Segments
17.1.14.4. Sales Footprint
17.1.14.5. Strategy Overview
17.1.14.5.1. Marketing Strategy
17.1.15. BLUESCAPE
17.1.15.1. Overview
17.1.15.2. Product Portfolio
17.1.15.3. Profitability by Market Segments
17.1.15.4. Sales Footprint
17.1.15.5. Strategy Overview
17.1.15.5.1. Marketing Strategy
18. Assumptions & Acronyms Used
19. Research Methodology
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Virtual Workspace Solutions Market
