Connect with us

Technology

Digital Workplace Market to Grow by USD 76.22 Billion (2024-2028), Driven by Lower Enterprise Hardware Costs, AI-Powered Report Highlights Market Transformation – Technavio

Published

on

NEW YORK, Nov. 12, 2024 /PRNewswire/ — Report with market evolution powered by AI – The global digital workplace market size is estimated to grow by USD 76.22 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 23.6% during the forecast period. Reduced hardware cost for enterprises is driving market growth, with a trend towards rising adoption of BYOD in SMES. However, data privacy and security concerns using digital workplace solution poses a challenge. Key market players include Accenture Plc, Atos SE, Capgemini Service SAS, Cognizant Technology Solutions Corp., DXC Technology Co., Fujitsu Ltd., HCL Technologies Ltd., Hewlett Packard Enterprise Co., Infosys Ltd., Kissflow Inc., Kyndryl Inc., Microsoft Corp., Mphasis Ltd., Nippon Telegraph and Telephone Corp., Tata Consultancy Services Ltd., Tech Mahindra Ltd., Trianz, Unisys Corp., Wipro Ltd., and Zensar Technologies Inc..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

Digital Workplace Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 23.6%

Market growth 2024-2028

USD 76.22 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

21.87

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 34%

Key countries

US, China, India, Germany, and UK

Key companies profiled

Accenture Plc, Atos SE, Capgemini Service SAS, Cognizant Technology Solutions Corp., DXC Technology Co., Fujitsu Ltd., HCL Technologies Ltd., Hewlett Packard Enterprise Co., Infosys Ltd., Kissflow Inc., Kyndryl Inc., Microsoft Corp., Mphasis Ltd., Nippon Telegraph and Telephone Corp., Tata Consultancy Services Ltd., Tech Mahindra Ltd., Trianz, Unisys Corp., Wipro Ltd., and Zensar Technologies Inc.

Market Driver

In today’s business world, the Digital Workplace is a trending topic. Companies are focusing on providing a balanced work-life for employees, enhancing the employee experience, and offering flexible work styles. New hires require effective training programs to gain a competitive advantage. Leadership and organizational structure are essential for successful digital transformation. Professional and consulting services are key to implementing cloud deployment, lowering costs, and ensuring flexibility and scalability. The Fourth Industrial Revolution brings automated systems, robotics, and data-enabled, data-driven methods. Geographic regions, Desktop-as-a-service, AI, VR, and enterprise mobility are shaping the future of work. Industries like BFSI, healthcare and pharmaceuticals, IT and telecom, media and entertainment are embracing digital workplaces for productivity, cost savings, and employee engagement. Work-from-home and data security are crucial considerations in this transition. Cloud services are essential for business processes, while data-driven methods and AI are revolutionizing decision-making. The digital workplace is transforming workstyles, enabling remote work, and adapting to the needs of the modern workforce. It’s an exciting time for businesses to leverage the power of technology and create a competitive edge. 

Digital workplace mobility solutions are essential for Small and Medium Enterprises (SMEs) to expand their business and maintain customer connections. SMEs serve various customer segments, necessitating frequent updates on services and continuous innovation. Digital workplace solutions enable SMEs to boost revenues, enhance customer service, and cut down on customer acquisition costs. In contrast, large organizations focus more on managing the inflow and outflow of mobile devices due to their sensitive data. SMEs can leverage digital workplace tools to streamline operations, collaborate effectively, and stay competitive in the market. 

Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution!

 Market Challenges

In today’s business landscape, the Digital Workplace Market presents numerous opportunities for organizations to enhance work-life balance, employee experience, and productivity. Challenges such as onboarding new employees, providing training programs, and maintaining work-style flexibility are addressed through digital solutions. A competitive advantage is gained by embracing cloud deployment, lower costs, and adaptability. Flexible and scalable services like Desktop-as-a-Service and Enterprise Mobility cater to the needs of diverse geographic regions. The Fourth Industrial Revolution brings automated systems, robotics, and data-driven methods to streamline business processes. AI and VR are transforming industries like BFSI, Healthcare and Pharmaceuticals, IT and Telecom, and Media and Entertainment. Professional and consulting services ensure seamless cloud service integration, while leadership and organizational structure adapt to the changing work environment. Employee engagement remains a priority with data security measures in place. Digital workplace solutions enable work-from-home, ensuring business continuity and cost savings. Manpower requirements are met with flexibility, and productivity is optimized through data-enabled methods. In summary, the Digital Workplace Market offers innovative solutions to address work-life balance, employee experience, and productivity challenges, while providing cost savings, flexibility, and a competitive edge in the ever-evolving business landscape.Cloud-based digital workplace solutions have become increasingly popular among businesses due to their cost-effectiveness and ease of accessibility. These solutions offer simplified software management with automatic upgrades and maintenance, reducing the need for large upfront costs. Government agencies, including federal, state, and local, have also adopted cloud solutions for sensitive data storage, enabling improved information management and increased productivity through centralized data access and high-speed networks. The benefits extend to enhanced data sharing and collaboration, effective security, high reliability, and the ability to integrate functional gaps in existing systems and processes. Overall, cloud-based solutions offer an efficient and cost-effective digital workplace solution for organizations with limited budgets and resources.

Discover how AI is revolutionizing market trends- Get your access now!

Segment Overview

This digital workplace market report extensively covers market segmentation by

Component 1.1 Solution1.2 ServiceApplication 2.1 Large enterprises2.2 Small and medium enterprisesGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Solution- The solutions segment dominates the global digital workplace market, with unified communication and collaboration, enterprise mobility and management, and unified endpoint management as its primary sub-segments. Unified communication and collaboration combines multiple communication services into a single interface, enabling seamless real-time communication and collaboration among diverse teams. Enterprise mobility management ensures control over mobile devices and networks, enhancing productivity, data security, and customer satisfaction. Unified endpoint management offers centralized access and control over various endpoints, improving device management and application coordination. These sub-segments are experiencing significant growth due to the increasing adoption of digital workplace solutions, the proliferation of mobile devices, and the need for secure and efficient IT operations. Technavio anticipates the market to expand rapidly during the forecast period due to the benefits these solutions provide, including cost savings, increased productivity, and enhanced security.

Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics

Research Analysis

The Digital Workplace market is revolutionizing the way businesses operate by offering innovative solutions that prioritize work-life balance and enhance employee experience. With the increasing trend of remote work and geographic diversity, work styles are evolving, making it essential for new employees to adapt to data-enabled, data-driven methods. Desktop-as-a-service and cloud services enable seamless access to business processes from anywhere in the world. Artificial Intelligence (AI) and Virtual Reality (VR) are transforming the Digital Workplace, streamlining tasks and improving productivity. The BFSI and Healthcare sectors are embracing these technologies to provide better services and improve patient care. Training programs are being reimagined with digital tools to ensure continuous learning and development for employees. Work-from-home is becoming the new norm, and data security is a top priority, with companies investing in advanced security measures to protect sensitive information. The Digital Workplace is also transforming industries like IT and telecom, enabling them to offer more efficient and effective services to their clients. Overall, the Digital Workplace is enabling businesses to adapt to the changing work landscape and empowering employees to work smarter and more productively.

Market Research Overview

The Digital Workplace Market is transforming the way businesses operate by prioritizing work-life balance, employee experience, and adaptability. New employees are integrated through comprehensive training programs, enhancing productivity and ensuring a competitive advantage. Flexibility and scalability are key, with cloud deployment and lower costs enabling organizations to adapt to the demands of the Fourth Industrial Revolution. Automated systems, robotics, and data-driven methods are revolutionizing business processes, particularly in industries such as healthcare and pharmaceuticals, BFSI, IT and telecom, media and entertainment, and professional services. Consulting services and desktop-as-a-service further support this transition. Virtual Reality (VR) and Artificial Intelligence (AI) are shaping the future of enterprise mobility, while flexibility, adaptability, and employee engagement remain at the forefront. Data security is paramount in this digital age, with cloud services offering solutions. Embracing these trends allows businesses to thrive in an ever-evolving market.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ComponentSolutionServiceApplicationLarge EnterprisesSmall And Medium EnterprisesGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/digital-workplace-market-to-grow-by-usd-76-22-billion-2024-2028-driven-by-lower-enterprise-hardware-costs-ai-powered-report-highlights-market-transformation—technavio-302301476.html

SOURCE Technavio

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Meta, Watsons Hong Kong, Hong Kong Life and OPTICAL 88 unlocked WhatsApp potential with Omnichat

Published

on

By

Create end-to-end customer journeys using WhatsApp Flows and ads that click to WhatsApp with Meta to accelerate business growthRedefine customer engagement with Omnichat’s WhatsApp membership system and enhance campaign tracking and optimisation through the Conversions APIWatsons Hong Kong integrated WhatsApp into the customer journey, from initial product discovery through to final purchase and payment, thereby offering customers a more convenient O+O experienceHong Kong Life revolutionised its interactions with customers by WhatsApp marketing, streamlining the acquisition of potential customers and elevating the overall customer experienceOPTICAL 88 leveraged WhatsApp’s direct messaging capabilities to create tailored, one-on-one conversations with customers, strengthening relationships and boosting satisfaction, resulting in an impressive 26% click-through rate on messages

HONG KONG, Nov. 26, 2024 /PRNewswire/ — Omnichat, an all-in-one omnichannel customer experience platform offering conversational commerce solutions, recently hosted a highly scalable conference titled “Unlocking Revenue Potential with Omnichannel Customer Experience”, which featured insights on delivering exceptional customer experiences via WhatsApp, with contributions from industry experts at the global social media giant Meta, international health and beauty retailer Watsons Hong Kong, the one-stop insurance and financial service provider Hong Kong Life, and the professional optical brand OPTICAL 88.

 

Omnichat, as the WhatsApp Business Solution Provider of Meta, introduced how its advanced omnichannel customer experience solutions empowered businesses to effortlessly drive customer loyalty and achieve personalisation through seamless journeys during the event. “Numerous businesses are seeking ways to streamline customer journeys, and WhatsApp Flows offers the perfect solution. Integrating WhatsApp Flows with marketing campaigns empowers businesses to design, build, and customise experiences. This provides customers a fast, simple way to complete tasks within a conversation, ultimately driving conversions and delivering better results,” said Alan Chan, Founder and CEO of Omnichat. The newly launched WhatsApp membership system offers brands and their customers a user-friendly loyalty solution by leveraging WhatsApp, the most popular messaging app in Hong Kong. “When constructing end-to-end customer journeys, loyalty is a crucial element that must not be overlooked. The WhatsApp membership system is designed to strengthen customer relationships through loyalty points, coupons, and membership cards, facilitating future re-engagement and encouraging potential repurchases.” Leveraging the power of Omni AI, auto-generated message content can be customised for various customer segments, enhancing efficiency in marketing and customer service while achieving personalisation. 

WhatsApp has the highest social media platform penetration rate of 79% in Hong Kong, according to the survey conducted by GWI. Driving engagement and growth across the customer lifecycle, the WhatsApp Business Platform plays a pivotal role in connecting with customers from discovery, consideration, purchase to re-engagement. “Meta has continually expanded the capabilities of business messaging to empower companies across various sectors to drive awareness, boost conversions, and create meaningful customer relationships for remarketing,” said Vicky Yiu, APAC Strategic Partnership Manager of Meta. “By creating a customised WhatsApp experience, WhatsApp Flows has achieved measurable results in generating more leads, appointments, and revenue directly within the platform, providing increased convenience for both businesses and their customers.” Meta also offers comprehensive tracking of the entire customer journey with the Conversions API. From the initial ads that lead to WhatsApp engagement, through subsequent WhatsApp interactions, to the final conversion, businesses can now generate actionable insights and fine-tune their advertising strategies with precision.

Prolog Leung, Online Business Director of Watsons Hong Kong also shared in the seminar, “Watsons Hong Kong has successfully integrated WhatsApp commerce into its innovative O+O (Offline plus Online) retail strategy by seamlessly implementing Omnichat’s conversational commerce solution, streamlining the checkout process and delivering an unparalleled shopping experience. It bridges the gap between digital convenience and personalised service. We are now handling tremendous customer enquiries monthly via WhatsApp, minimizing the waiting time of customers to answer their enquiries. Our ‘Watsons Here For You’ service offers one-on-one consultations with pharmacists, Chinese medicine practitioners, and dietitians via WhatsApp. This seamless integration of digital and physical retail spaces allows our customers to engage with our brand at their convenience, not only boosting online engagement and sales but also driving foot traffic to our physical stores.” 

Hong Kong Life has revolutionised its marketing and customer service strategies by leveraging WhatsApp and Omnichat’s advanced messaging solutions. Initially implemented to manage multi-channel enquiries on social media platforms, Hong Kong Life had quickly realised the transformative potential of WhatsApp for business growth and customer experience enhancement. “We have uncovered the limitless potential of WhatsApp in our marketing and customer service. The automated chatbot can now efficiently handle over 90% of simple enquiries, allowing our team to focus on marketing and nurturing deeper customer relationships,” said Jonathan Ko, Chief Marketing Officer of Hong Kong Life. “We have strategically implemented interactive Q&A games via WhatsApp chatbots, incentivising participation with exclusive coupons. This not only enhances customer engagement but also significantly expands our WhatsApp database. Leveraging this growing database to deliver targeted marketing broadcasts, our campaigns have recorded a remarkable 70% read rate, substantially boosting business conversions.” 

OPTICAL 88 has further solidified its reputation for exceptional customer service by leveraging the WhatsApp Business Platform. This strategic move has not only enhanced communication efficiency but also instilled a greater sense of trust and convenience among customers, thanks to the platform’s authorised blue tick verification. Andrea Chan, Digital Marketing Manager of OPTICAL 88 emphasised the significance of this digital transformation, “Maintaining a close, personal connection between our sales team and customers is a cornerstone of our brand values. We have observed that regardless of demographic, our customers overwhelmingly prefer the immediacy and interactivity of WhatsApp over traditional email communications, resulting in up to 26% click-through rate on our messages.” OPTICAL 88 has also broadened its tactical approach beyond one-to-one communications. Andrea further explained, “By integrating omnichannel chatbots with our social media strategy, particularly for Facebook comment auto-replies, we have facilitated engaging social media campaigns while effectively driving online traffic to our physical stores.”

By seamlessly integrating automated systems with personalised human interactions, the comprehensive chat commerce solutions are revolutionising the way businesses interact with their customers across WhatsApp Business Platform, Facebook Messenger and Instagram Direct, and setting new industry standards for customer experience excellence. 

About Omnichat:
Founded in 2017 with its headquarter in Hong Kong, Omnichat is an omnichannel chat commerce solution provider that centralises customers’ conversations from WhatsApp Business Platform, Facebook Messenger, Instagram, LINE, WeChat and website live chat into a single platform to enhance efficiency and productivity.

With a strong presence in the Asia Pacific region, the company has established a solid reputation for serving local and international retail and e-commerce brands. By offering an omnichannel social customer data platform, online-merge-offline(OMO) sales integration, marketing automation, chatbots as well as customer service platform, Omnichat strives to empower brands to deliver personalised customer journeys and drive digital transformation, ultimately converting visitors into customers through chats.

Website: https://www.omnichat.ai/
WhatsApp: https://wa.me/85291925071/?text=EnquiryForWhatsApp
LinkedIn: https://hk.linkedin.com/company/omnichat-easychat
Facebook: https://www.facebook.com/OmnichatAI

For media enquiries, please contact:
Omnichat Limited
Lily Yeung
Associate Director of Communications
Tel: (852) 9803 5977
Email: lily.yeung@omnichat.ai

Macy Chun
Communications Manager
Tel: (852) 6234 9555
Email: macy.chun@omnichat.ai

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/meta-watsons-hong-kong-hong-kong-life-and-optical-88-unlocked-whatsapp-potential-with-omnichat-302315204.html

SOURCE Omnichat Limited

Continue Reading

Technology

AccuRadio Shields Listeners from ‘The Little Drummer Boy’ in 2024 Challenge

Published

on

By

CHICAGO, Nov. 25, 2024 /PRNewswire/ — This holiday season, AccuRadio, one of the world’s leading online radio services, is stepping up to protect listeners from the ultimate seasonal pitfall: Hearing the song “The Little Drummer Boy.”

This Christmas, AccuRadio is helping music fans dodge the ultimate holiday pitfall: Hearing “The Little Drummer Boy”

“We have a foolproof plan to help our listeners stay safe from that song this holiday season,” announced Kurt Hanson, Founder and CEO of AccuRadio.

AccuRadio’s initiative supports the Little Drummer Boy Challenge — a playful annual game in which countless holiday music lovers aim to avoid hearing “The Little Drummer Boy” for as long as possible, from 12:01am local time on Black Friday through 11:59pm on December 23rd (per littledrummerboychallenge.com). The challenge, originally born in Silicon Valley tech circles, has become a cherished holiday tradition, uniting music fans across the globe.

To aid participants in their quest, AccuRadio is launching a set of “safe zone” Holiday Music channels that feature all the festive classics listeners love, with one notable exception: “The Little Drummer Boy” is completely off the playlist.

“We want holiday music fans to have a safe space to enjoy their favorite holiday songs without fear of losing the challenge,” Hanson said.

For those feeling mischievous, AccuRadio is also introducing a specially-disguised channel that will actually play nothing but dozens of versions of “The Little Drummer Boy,” perfect for pranking friends. “We call it getting drum-rolled,” explained Paul Maloney, AccuRadio’s VP/Programming.

Todd Manley, VP/Promotion at AccuRadio, emphasized the platform’s commitment to its listeners: “In a world where online safety can be challenging to find, we’re making it easy for holiday music fans to enjoy their season with true peace of mind.”

AccuRadio’s “safe zone” channels are a new addition this year to what is already the most extraordinary collection of holiday music channels available anywhere. AccuRadio offers over 125 curated (and personalizable) Christmas music channels focusing on specific genres, decades, regions, tempos, and themes—making it the ultimate destination for holiday music enthusiasts.

This amazing assortment of holiday music channels can be found on the web at www.accuradio.com/christmas-music and on AccuRadio’s iPhone and Android mobile apps.

About AccuRadio
Launched in 2000 (making it one of the earliest pioneers in online audio), AccuRadio offers over 1,400 human-curated music channels (spanning over 50 genres) to over a million adult, upscale, and loyal users each month.

View original content:https://www.prnewswire.com/news-releases/accuradio-shields-listeners-from-the-little-drummer-boy-in-2024-challenge-302315954.html

SOURCE AccuRadio

Continue Reading

Technology

UPS Class Action News: Robbins LLP Reminds Investors of Quickly Approaching Lead Plaintiff Deadline in the United Parcel Service, Inc. Class Action

Published

on

By

SAN DIEGO, Nov. 25, 2024 /PRNewswire/ — Robbins LLP reminds investors that a class action was filed on behalf of all persons and entities who purchased or otherwise acquired United Parcel Service, Inc. (NYSE: UPS) securities between January 30, 2024 and July 22, 2024. UPS is a multinational parcel delivery and supply chain management solutions company operating in more than 200 countries and territories.

For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.

The Allegations: Robbins LLP is Investigating Allegations that United Parcel Service, Inc. (UPS) Misled Investors Regarding its Business Prospects

According to the complaint, during the class period, defendants created the false impression that they possessed reliable information pertaining to the Company’s projected revenue outlook and anticipated growth while also minimizing risk from seasonality and macroeconomic fluctuations. In truth, UPS’ optimistic reports of growth, plans to handle volume variability, upcoming profit growth, and consistent claims that the first quarter would present the worst margins of the fiscal year fell short of reality; the Company was not truly equipped to handle a volume surge without causing a corresponding significant decline in their operating margin.

Plaintiff alleges that the truth emerged on July 23, 2024, when UPS announced its financial results for the second quarter of fiscal 2024, provided lower-than-expected guidance for the third quarter, and reduced its margin guidance for the full fiscal year 2024. The Company attributed its results and lowered guidance on the shift in “U.S. volume mix both in terms of product and customer segmentation . . . toward value products.”  On this news, the price of UPS common stock fell from $145.18 per share on July 22, 2024, to close at $127.68 per share on July 23, 2024, a decline of $17.50 per share, or about 12.05% according to the complaint.

What Now: You may be eligible to participate in the class action against United Parcel Service, Inc. Shareholders who want to serve as lead plaintiff for the class must submit their application to the court by December 9, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation.  You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses. 

About Robbins LLP: Some law firms issuing releases about this matter do not actually litigate securities class actions; Robbins LLP does. A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002.  Since our inception, we have obtained over $1 billion for shareholders.

To be notified if a class action against United Parcel Service, Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today.

Attorney Advertising.  Past results do not guarantee a similar outcome.  

View original content to download multimedia:https://www.prnewswire.com/news-releases/ups-class-action-news-robbins-llp-reminds-investors-of-quickly-approaching-lead-plaintiff-deadline-in-the-united-parcel-service-inc-class-action-302315966.html

SOURCE Robbins LLP

Continue Reading

Trending