Virtual Workspaces Market to Witness Significant Growth During Forecast Period

Growing demand for remote and device-independent access to business applications to drive growth of global virtual workspaces market

According to TechSci Research report, “Global Virtual Workspaces Market By Component (Solutions, Services), By Deployment Type (Public, Private, Hybrid), By Technology (Telecommuting, Hot Desking, Virtual Team, Others), By End User (Enterprises and Small & medium businesses), By Vertical (BFSI, Retail, Government, Healthcare, Manufacturing, Telecom and IT, Utilities, Travel and Hospitality, Education, Others), By Region, Competition, Forecast & Opportunities, 2025”, global virtual workspaces market is expected to register a significant CAGR during the forecast period. Growing requirement for reduction in the capital expenditure of any organization is one of the major factors accounting for the growth of global virtual workspaces market. More and more acceptance of bring your own device (BYOD), so that the users can connect from any remote location worldwide is further expected to bode well for the growth of global virtual workspaces market during the forecast period. In addition to this, surging penetration of devices like smartphones, laptops, tablets, phablets, and many more, enabling the employees to access any kind of business applications and data anytime, anywhere with the help of any device is positively influencing the growth of global virtual workspaces market, globally. Also, virtual workspaces are benefitting the IT departments by minimizing the overall cost of ownership as well as simplifying management of infrastructure like servers and storage devices, which is expected to make headway for the growth of global virtual workspaces market. Moreover, rising social networking along with growing number of mobile phone users is also anticipated to augment the market growth in the forecast years. However, there are certain factors that might act as major impediments to the growth of global virtual workspaces market through 2025 such as lack of resource and infrastructure in industries and limitation of industry standards.

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Global virtual workspaces market can be segmented based on component, deployment mode, user type, company and region. Considering the vertical, the market is fragmented into BFSI, retail, government, healthcare, manufacturing, telecom and IT, utilities, travel and hospitality, education, others. Among them, the education segment is forecast to grow at a high pace during the forecast period. This dominance is accredited to developmental innovations in education technologies by the universities and educational institutes so that the students can evolve and expand their presence at a global level and simultaneously to avoid campus congestion and nullify their workload. Additionally, virtual workspaces deliver intellectually satisfying learning experiences in higher education, thereby facilitates better quality education. In terms of organization size, the market is segmented into enterprises and small & medium businesses. Out of which, enterprises segment is anticipated to register high growth in the years to come, which can be accredited to growing implementation of cloud & enterprise mobility solutions among the firms coupled with the rise in popularity of workplace transformation services among small & medium-sized firms, thereby boosting the expansion of this particular segment.

Asana Inc., Atlassian Corporation Pty. Ltd., Bluescope Software, Facebook, Microsoft, KAP IT, Miro, Nureva Inc., Prysm Inc., Slack Technologies, Inc., Sococo, Tactivos Inc., Timecamp S.A., Walkabout Collaborative LLC, Zoho Corporation Pvt. Ltd are among others are the leading players operating in global virtual workspaces market. The leading players are adopting several growth strategies to enhance the market scenario of virtual workspaces.

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“North America is expected to dominate the global virtual workspaces market during the next 5 years on the account of presence of numerous prominent technology players in the region. Moreover, continuous technological advancements are adding to the market growth in North America. Asia-Pacific region is anticipated to register highest growth during the forecast period which can be accredited to rise in expenditure on developing ICT infrastructure in growing economies.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Virtual Workspaces Market By Component (Solutions, Services), By Deployment Type (Public, Private, Hybrid), By Technology (Telecommuting, Hot Desking, Virtual Team, Others), By End User (Enterprises and Small & medium businesses), By Vertical (BFSI, Retail, Government, Healthcare, Manufacturing, Telecom and IT, Utilities, Travel and Hospitality, Education, Others), By Region, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of global virtual workspaces market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global virtual workspaces market.

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