Digital workplace, a virtual version of the traditional workplace is an easy and faster way to securely offer personalized services and all the data, application, and cooperation an employee requires on any device, anywhere, anytime. The service uses modern mobility services and innovative digital technologies to transform into the method people work to enhance employee satisfaction and engagement.
Digital workplace is a highly personal environment which enables people to do their work effectively and effortlessly wherever they are. It can help industries lesser operating costs as they influence collaborative spaces and high effective use of real estate.
History of Digital Workplace
In 2009, Paul Miler, CEO of DWG (Digital Workplace Group), included the digital workplace in his dictionary. It was considered as an understanding that how technology will affect both the workplace and the environment of work would be essential.
Furthermore, in 2012 Deloitte also joined the discussion stating, “The digital workplace incorporates all the innovative technologies industries use to get work done in the current workplace both the ones in the process and the ones yet to be employed. It ranges from your core business applications and HR applications to e-mail, social media tools, instant messaging and virtual meeting tools.”
In 2014, the leading company Gartner also entered the conversation with their own description. They describe the digital workplace as “An always, deliberate methodology to providing a more consumer-like computing space which is better able to enable flexible and innovative working practices.”
Applications of digital workspace in Information Technology & Telecommunication industry is expected to dominate the market during the forecast period. Additionally, the BFSI sector has also reflected the huge adoption of digital workspace services and solutions. The healthcare verticals are projected to raise at the maximum CAGR into coming years. This is majorly credited to growing focus towards engaging frontline employees in the healthcare segment and rising anxiety towards patient satisfaction.
Nowadays, the digital workplace is just served as a virtual space which is occupied by employees in office hours. It is the continuously connected environment that providing instant access to anything employees need. Due to this service, the wall between the physical office and the location where the employee actually works are becoming blurred.
Enabling and embedding cognitive capabilities, consumption of information technology, growing demand for digital technology are some trends driving the growth of digital workplace across the globe.
How to build a Digital Workplace for business?
Business growth has become the highest priority for many CEOs, and they look at Information Technology to enable it using innovative technologies. Digital workplace is a proper solution for the new millennials modern business and inclusive of user technologies which are becoming a new business strength. Both CIO and CEO are looking for business modernization in their workplace with the capability to respond and adapt to variations in the market.
The global digital workplace market size is estimated to reach USD xx billion by end of 2025, growing at a recorded CAGR of xx%, during the prediction period. As the workplace turns into digital, the employees and higher management can communicate and cooperate in a number of effective and modern ways. The digital workplace can collaborate fruitful business relationships and enables a variety of knowledge sharing across the organization.
Digital workspace market is mainly driven by the growing adoption of BYOD (Bring Your Own Device) and CYOD (Choose Your Own Device) policies by large enterprises as well as small and medium enterprise. Likewise, digital workspace works as a tool that brings value to the business by improving employee productivity & engagement, attracting talent, and reducing maintenance rates by inspiring advanced level employee engagement in the industries working across verticals.
With the advancement of technology, several enterprises are gradually opting for these solutions in order to be profited with the condensed operational cost and improved efficiency. Innovations in smart technologies and the growing adoption of technologies drive the digital workplace market growth.
However, technology is the major factor of digital workplace and it is also necessary to have accurate planning of the business which is transformed into digital. Primary investment is very high while transforming the workplace into digital. These are some aspects which are restraining the global digital workplace market growth.
The implementation of digital workplace solutions and services is increased in large enterprises, and the trend is anticipated to continue over the forecast period. With digital workplace solutions being combined with social media, mobile devices, and big data, large enterprises are rapidly opting for these services to expand their business model and rise their profits. Large enterprises are making substantial investments in strategic marketing techniques to stand their positions in competitive markets. The enterprises are increasingly adopting digital workplace solutions by leveraging other innovative technologies, such as radio-frequency identification, mobile platforms, and facial recognition software.
The key players in digital workplace include Atos (France), IBM (US), Wipro (India), NTT Data (Japan), DXC Technology (US), Accenture (Ireland), CompuCom (US), TCS (India), HCL (India), and others. These vendors have adopted a number of growth strategies, such as agreements, partnerships, and collaborations, and new product launches to further enlarge their existence in the global digital workplace market.