The latest report by IMARC Group, titled “Workspace as a Service Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” finds that the global workspace as a service market size reached US$ 4.71 Billion in 2019. Workspace as a service (WaaS) is a type of virtual desktop that provides access to office applications and data to employees at any time regardless of their geographical location. Employees can access WaaS platforms using various devices, such as desktop computers, laptops, tablets and smartphones. These solutions include all the office-related facilities, like backup capabilities, productivity apps such as Office 365, and anti-virus and accounting software. WaaS is the latest step in transforming office applications from on-premises (software, servers and workstations) to cloud-based as a service solution. It is generally adopted by small businesses that cannot afford internal resources and infrastructure to handle IT services on their own.
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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Workspace as a Service Market Trends:
In recent years, several organizations are adopting WaaS solutions as they offer various benefits, such as enhancing work-life balance, providing consistency of environment, and enabling employees to be more productive and capable of accessing critical applications and data. They also reduce operating costs and eliminate IT hassles, including cloud storage, backup and offsite replication, dedicated business servers and 24/7 support. Apart from this, rapid digitization and integration of connected devices with the Internet of Things (IoT) and cloud computing systems are also contributing to the market growth. Besides this, the spread of the coronavirus disease (COVID-19) has led to an acceleration in the adoption of cloud technologies by IT companies worldwide, which is providing a positive impact on the market. Furthermore, many companies are making considerable investments in extensive research and development (R&D) activities to improve WaaS systems. On account of these factors, the market is expected to exhibit strong growth during 2020-2025.
- Based on the offering, the market has been bifurcated into solutions and services. Solutions are further segmented as VDI and applications, desktop as a service, hosted applications (unified communication applications), security solutions and others. Whereas services are divided into system integration, consulting services and managed services.
- On the basis of the deployment type, the market has been categorized into public, private and hybrid segments.
- The market has been classified based on the end user into large, small and medium enterprises.
- On the basis of the vertical, the market has been segmented into banking, financial services and insurance (BFSI), retail, government, healthcare, manufacturing, telecom and IT, utilities, travel and hospitality, education, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Russia, Spain and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Amazon Web Services Inc., Citrix Systems Inc., Colt Technology Services, Getronics, IndependenceIT Inc., Microsoft Corporation, Tech Mahindra, Unisys and Vmware Inc. (Dell Technologies).
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