Published Date: 31-Mar-23
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According to a new report, published by KBV research, The Global Workspace as A Service Market size is expected to reach $17.7 billion by 2028, rising at a market growth of 15.4% CAGR during the forecast period.
The Services segment is showcasing a CAGR of 17.8% during (2022 - 2028). This is due to the growing need for technology-enabled, scalable, and affordable workspace services brought on by the expanding digital transformation trend and cloud-based services. Also, the demand for WaaS has been fueled by the surge in startups and small- and medium-sized businesses (SMEs), who now have easier access to high-quality workspaces at reasonable prices. As a result, this supports the market expansion in this segment.
The Public Cloud segment is leading the Global Workspace as A Service Market by Deployment Mode in 2021 thereby, achieving a market value of $9.7 billion by 2028. Most businesses utilize a combination of public cloud services and on-premises IT assets and equipment. Even businesses that have not yet fully adopted the cloud have likely already implemented public cloud services. Therefore, the migration of workloads to the public cloud is a fundamental element propelling the segment's growth.
The Small & Medium Enterprises segment has shown the growth rate of 17% during (2022 - 2028). The "bring your own device" notion, which is gaining pace globally, has contributed significantly to the expansion of the WaaS business. The bring-your-own-device (BYOD) work style has gained popularity mostly because it relieves businesses of a significant portion of their operational costs. In addition, several innovative and user-friendly apps and solutions offered by WaaS industry participants further encourage this development. As a result, small and medium-sized enterprises appear to be investing more in WaaS due to its real benefit.
The IT & Telecom segment is acquired maximum revenue share in the Global Workspace as A Service Market by Vertical in 2021 thereby, achieving a market value of $4.7 billion by 2028. BYOD & cloud computing has a high adoption rate in the telecom and IT industries. The industry quickly adopted WaaS. Thus, most of their produced assets are intangible and comprise a wide range of firms.
The North America market dominated the Global Workspace as A Service Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $5.8 billion by 2028. The Europe market is exhibiting a CAGR of 14.7% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 16.4% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/workspace-as-a-service-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Microsoft Corporation, Dell Technologies, Inc., VMware, Inc., Google LLC (Alphabet, Inc.), Unisys Corporation, Amazon Web Services, Inc. (Amazon.com, Inc.), Citrix Systems, Inc. (Cloud Software Group, Inc.), Tech Mahindra Limited, Colt Technology Services Group Limited (Fidelity Investments) and Evolve IP, LLC.
By Component
By Deployment Mode
By Enterprises Size
By Vertical
By Geography
Companies Profiled
Unique Offerings from KBV Research
Related Reports:
North America Workspace as A Service Market size & Opportunities 2022-2028
Europe Workspace as A Service Market & Growth Forecast 2022-2028
Asia Pacific Workspace as A Service Market Share & Industry Outlook to 2028
LAMEA Workspace as A Service Market Growth, Trends & Forecasts 2022-2028