Global Workspace as a Service Market

Global Workspace as a Service (WaaS) Market Size More Than Doubles to Cross USD 10.7 Billion by 2029

Published | 14 February 2023

Global workspace as a service (WaaS) market is flourishing because of rising adoption of BYOD (bring your own device) trend across industries and an increasing need for affordable desktop virtualization solutions.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated global workspace as a service (WaaS) market size at USD 5.752 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects global workspace as a service market size to grow at a significant CAGR of 9.45% reaching a value of USD 10.747 billion by 2029. Major growth factors of global workspace as a service market include increasing adoption of BYOD (bring your own device) trend across various industries, surging demand for affordable desktop virtualization solutions and increasing digitization in industries such as banking, financial services and insurance (BFSI), retail, manufacturing, healthcare, and education. Likewise, rising demand for cost-effective virtual desktop virtualization and automation solutions is fueling the market expansion. WaaS systems allow businesses to log in numerous users to a virtual server while also providing effective resource provisioning, load balancing, and network management capabilities. Various technological improvements, such as the integration of linked devices with the Internet of Things (IoT) and cloud computing platforms, are expected to fuel the expansion of overall market. Organizations are also increasingly utilizing digital business channels to deliver scalable workplace solutions to employees' mobile devices while improving overall operational efficiency. Other factors, such as intensive R&D activities and considerable advancements in information technology (IT) infrastructure, are expected to boost the market during the period in analysis. However, network performance and bandwidth issues are anticipated to restrain the growth of global WaaS market.

Global Workspace as a Service Market – Overview

Workspace as a Service users can access business applications and corporate data from any location, at any time, and on any mobile device. Workspace as a Service (WaaS) is a type of Virtual Desktop Infrastructure (VDI). WaaS allows businesses to outsource their virtual desktop infrastructure to third-party cloud service providers, whereas VDI hosts desktop operating systems on virtual machines hosted on centralized servers within the organization (CSPs). As a result, employees can work from anywhere using their mobile devices. WaaS can be delivered using hardware, VDI software, desktop operating systems, business apps, and corporate data. Corporations, on the other hand, outsource certain components to service providers rather than handling them entirely in-house. Workspace as a Service Solutions will benefit organizations in a variety of ways, including lower total cost of ownership, easier desktop maintenance, and increased flexibility and productivity.

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Impact of COVID-19 on Global Workspace as a Service (WaaS) Market

COVID-19 pandemic boosted the demand for workspace as a service (WaaS) due to a rising demand for cloud-based business continuity products and widespread use of business continuity tools and workplace solutions. Also, with the support of virtual workplaces, businesses have developed new means of offering training and boosting team bonding and collaboration. Because of the ease with which the pandemic has spread, numerous firms have made long-term investments in workplace transformation for the hybrid work paradigm, necessitating the implementation of cloud-based solutions to enable remote working with secure access. These factors are expected to drive the global workspace as a service (WaaS) market during the forecast period.

Global Workspace as a Service Market – By Solutions

By solutions, global workspace as a service market is segmented into VDI and Services, Desktop as a Service (DaaS), Hosted Services, and Security Solutions. The VDI and services segment is expected to hold the highest market share during the period in analysis. The VDI user experience is on par with or better than the physical workstation due to the centralized system resources provided to the virtual desktop as well as the desktop image's near proximity to back-end databases, storage repositories, and other resources. Furthermore, remote display protocols decrease and optimize network traffic by allowing interactions such as screen paints, keyboard and mouse data, and other interactions to approximate the responsiveness of a local desktop. Furthermore, because no actual computation occurs at the endpoint, IT organizations may be able to extend the life of otherwise obsolete PCs by reusing them as VDI endpoints. When the requirement for new equipment arises, firms can purchase less priced and less powerful thin clients and other end-user computing devices. VDI provides significant security benefits because all data is stored in the data center rather than on the device. Because no data is saved on the endpoint device, a thief who takes a laptop from a VDI user cannot access its contents.

Competitive Landscape

Major players operating in global workspace as a service market include Amazon Web Services Inc., Citrix Systems Inc., VMware Inc., Microsoft Corporation, Independence IT Corporation, Getronics Global Services, BV Dell Inc., Unisys Corporation, Colt Group SA, Econocom Group SA/NV, ATSG, Cloud Jumper Corporation, Cloudalize Colt Technology Services, dinClowl, Inc., Dizzion Inc., Evolve IP, Getronics NV, and Google LLC. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Workspace as a Service (WaaS) Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Workspace as a Service (WaaS) Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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