The workplace is changing, and organizations must adapt to improve performance and remain competitive. This article discusses three key areas of work that are experiencing continued growth and innovation.   

The world of work is continuously evolving, and as technology continues to advance, so does the concept of the workplace. The digital workplace, integrated workplace management systems, and workplace transformation are three key areas that are shaping the way we work and interact with our surroundings.

The Digital Workplace

The digital workplace market is experiencing rapid growth, driven by the need for organizations to digitize their operations and improve efficiency. A digital workplace is essentially a virtual environment that enables employees to work remotely and collaboratively using digital tools and technologies. This includes the use of cloud-based platforms, mobile devices, and social media to facilitate communication and collaboration. The global digital workplace market is expected to reach $46 billion by 2023, growing at a CAGR of 21% during the forecast period.

One of the key drivers of this market is the increasing adoption of remote work and flexible work arrangements. The COVID-19 pandemic has accelerated this trend, with companies around the world adopting remote work policies to ensure business continuity. As a result, there has been a surge in demand for digital workplace tools and technologies that enable employees to work from any location, at any time.

In addition to remote work, the digital workplace market is also driven by the growing need for organizations to streamline their processes and improve productivity. Digital workplace solutions offer various features and functionalities such as document management, project collaboration, and task management, which help organizations automate their workflows and reduce manual effort. Furthermore, these solutions can integrate with existing enterprise systems, such as customer relationship management (CRM) and enterprise resource planning (ERP), to provide a unified and seamless user experience.

Integrated Workplace Management

The integrated workplace management system (IWMS) market is closely related to the digital workplace market, as it focuses on optimizing the physical workplace environment. An IWMS is a software platform that helps organizations manage and optimize their real estate portfolio, space planning, and facilities management. The global IWMS market is expected to reach $4.5 billion by 2027, growing at a CAGR of 12.7% during the forecast period.

One of the major drivers of this market is the need for organizations to optimize their real estate costs and improve space utilization. By leveraging IWMS solutions, companies can gain better visibility into their real estate portfolio, identify underutilized spaces, and implement strategies to maximize space utilization. This not only reduces costs but also enhances employee satisfaction by providing a comfortable and efficient workplace environment.

Another trend in the IWMS market is the integration of Internet of Things (IoT) technologies. By connecting various sensors and devices in the workplace, organizations can gather real-time data on occupancy, air quality, temperature, and energy consumption. This data can then be analyzed to make informed decisions and optimize workplace conditions. For example, if a certain area is consistently overcrowded, organizations can take steps to rearrange the space or invest in additional facilities.

Workplace Transformation

Lastly, the workplace transformation market is focused on creating modern and agile work environments that enhance employee experience and productivity. This involves redesigning physical workspaces, implementing new technologies, and promoting a culture of collaboration and innovation. The global workplace transformation market is expected to reach $24 billion by 2025, growing at a CAGR of 17.2% during the forecast period.

One of the key trends in this market is the adoption of activity-based working (ABW) and flexible workspace solutions. ABW is a concept that focuses on providing employees with different work settings and environments based on their tasks and preferences. This can include open workstations, private meeting rooms, collaboration zones, and relaxation areas. Flexible workspace solutions, on the other hand, enable employees to choose where and when they work, providing them with the flexibility and autonomy to be productive.

Overall, the digital workplace, integrated workplace management system, and workplace transformation markets are witnessing significant growth and innovation. With the increasing adoption of remote work, the need for efficient workplace management, and the desire to create modern and agile work environments, these markets are poised for continuous expansion in the coming years. Organizations that embrace these trends and invest in digital and physical workplace solutions are likely to gain a competitive edge and improve their overall business performance.

This article was written by Ashish Kolte from TechBullion and was legally licensed through the DiveMarketplace by Industry Dive. Please direct all licensing questions to legal@industrydive.com.