Workplace Transformation Market Insights, 2020: Impact of COVID-19 - Global Market Expected to Cross $51.4 Billion by 2027

DUBLIN, April 24, 2020 /PRNewswire/ -- The "Workplace Transformation - Global Market Outlook (2018-2027)" report has been added to ResearchAndMarkets.com's offering.The Global Workplace Transformation market accounted for $11.09 billion in 2018 and is expected to reach $51.49 billion by 2027, growing at a CAGR of 18.6% during the forecast period.Some of the key factors propelling the market growth are mounting demand in advance technologies such as BYOD and reduce in operational expenditures. However, lack of training in developing and underdeveloped countries is the restraining factor for the growth of the market.By end-user, banking, financial services, and insurance segment is expected to grow at the significant market share during the forecast period due to the mounting requirement in the industry for getting better the productivity and effectiveness of employees. Due to the arrival of original digital-first firms, conventional insurers and banks are rethinking their digital scheme to compete efficiently in the market.On the basis of geography, North America is anticipated to hold considerable market share during the forecast period due to the technical advancements, huge IT spending, and occurrence of a huge number of huge enterprises. In addition, the growing adoption of unified communication and collaboration services as well as enterprise mobility and telecom services by different business organizations is proceed following the growth of the market.