Workplace as a Service (WaaS) Market Size, Share & Industry Analysis, By Type (System Integrated Services, Desktop as a Service (DaaS), Application as a Service (AaaS)), By Deployment (Public, Private, Hybrid), By Industry (Banking, Financial Services and Insurance (BFSI), IT and Telecommunication, Retail) And Regional Forecast, 2024-2032
KEY MARKET INSIGHTS
Workplace as a service (WaaS) is a virtual desktop that organizations provide to their staff to access the data from any location and anytime. Workplace as a service has enabled organizations to help their employees log into the service solution and enjoy the access of virtual desktop. Virtual desktop work similarly to employee’s office desktop. Using WaaS employee can work from home this has resulted in employees becoming highly productive.
Additionally, these solutions enables organizations with multiple users logged into the same virtual window server. Also, WaaS providers take care of resources including network issues and load balancing that further helps in eliminating the maintenance and cost of virtual desktop environment. Also, bring your own device (BYOD) has also emerged as global trend that helps user connect to virtual desktop from any location across the globe and further it is anticipated to drive the growth of workplace as a service (WaaS) market.
The outbreak of COVID 19 has drastically affected every sector in the market but it has positively impacted workplace as a service (WaaS). Organizations across the globe has adopted the work from home initiative during the pandemic that has resulted in increased demand for WaaS solution for efficient workflow of the organizations.
Key Market Driver -
• Increasing BYOD is anticipated to drive the growth of workplace as a service (WaaS) market. • Increasing need of WaaS solutions to enhance the security of smart devices such as laptop and smartphones etc. are expected to drive the market growth.
Key Market Restraint -
• High bandwidth required for workplace as a service (WaaS) to act as the market restraint. • Lack of awareness about the workplace as a service (WaaS) is expected to hinder the market growth.
Key Players Covered:
Major companies operating in Amazon Web Services, Inc., Citrix System Inc., Microsoft Corporation, Tech Mahindra Limited, VMware Inc., Econocom Group SE, Unisys Corporation, Dell Inc., and Colt Technology Services Group Limited among others.
The companies providing workplace as a service solution are adopting effective business strategies such as investment in R&D, acquisition, joint venture, collaborations, mergers etc., to enhance their market presence. For instance, in February 2021, Microsoft Corporation launched Microsoft Viva. It the first employee experience platform introduced by the company to bring tools for employee engagement, knowledge discover and wellbeing.
Regional Analysis:
North America is anticipated to have significant growth in the workplace as a service market. This growth is mainly due to the highest rate of bring your own device (BYOD) in the region. For instance, According to the study conducted by Cisco, an average US workers save 81 minutes per week by using their own devices. BYOD is one the most common practice that is adopted by organizations across the region as it cost efficient and helps in securing enterprise data and further helps in driving the market growth in the region.
Similarly, rising number of small and medium enterprises in Asia Pacific will increase the demand for workplace as a service (WaaS) solution in the region. Also, the adoption of mobile devices in the region is very high that needs WaaS solution to enhance the security of the systems are also anticipated to drive the growth of the market in the region.
Whereas Europe and Middle East and Africa are more likely to create potential growth opportunities for WaaS market owing to strong economic growth, and rising adoption of BYOD and WFH initiatives.
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Segmentation
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Key Industry Developments
- November 2020 – Techn Mahindra launched WORKSPACE NXT. It is the updated version of next-gen integrated digital workplace solutions for organizations globally. This digital solution bring together Intel Corporation, Dell Technologies and VMware to enable personalized and secure remote working experience.
- May 2018 - Unisys Corporation launched Unisys InteliServe. It is a new service solution that helps in transforming the traditional service desk into an intelligent modern digital workplace. This solution is integrated with latest technologies such as artificial intelligence (AI), machine learning (ML), advanced analytics and identity automation.
- June 2018 – Amazon Web Services, Inc., has added Linux to its desktop as a service workspace. This would help developers to work on Linux. The new updated version of Linux includes all the developer’s tool and AWS SDKs including java, mono and gcc.
- Ongoing
- 2023
- 2019-2022
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