In 2020, the Workspace as a Service market was valued at USD 4.90 Billion. It is projected to grow at a CAGR of 9.7% during the forecast period (2021 – 2026). WaaS solutions allow employees to log in to the provider’s service, and they will be presented with a virtual workspace environment that looks and functions exactly like their actual office desktop. WaaS solutions enable employees to be more productive and capable of accessing critical data and applications regardless of their geographic location. WaaS solutions are valuable tools for organizations that allow them to reduce geographic constraints and manage infrastructure costs while still maintaining a positive employee experience.
- The global WaaS market is expected to grow due to the rising adoption of BYOD in various industries, easy deployment, scalability, quick availability, and increasing demand for affordable virtual desktop Virtualization.
- Blackstone and SAP are just a few of the major companies that have started investing in BYOD initiatives. SAP has, for example, successfully implemented BYOD, increasing employee satisfaction and reducing CAPEX. The company has created a mobile platform with key applications that allow employees to work anywhere they want, as long as their mobile devices are available.
- WaaS solutions allow enterprises to have multiple users connected to the same virtual Windows server. WaaS providers can take care of resource provisioning and load balancing as well as network issues. This eliminates the need for additional maintenance and increases costs. WaaS is an affordable option that meets the enterprise’s desktop virtualization needs.
Scope of the Report
Workspace as a Service (WaaS), a type of desktop virtualization used by corporations to provide their employees access to business-related data from any location, at any time, and using the employee’s device of choice.
Key Market Trends
Major Market Share for IT and Telecom
High adoption rates of cloud computing and BYOD have been observed in the telecom and IT sectors. This sector was an early adopter of WaaS. This study covers enterprises offering IT-based services and consulting. Their most valuable manufactured assets are therefore intangible. This includes a wide range of companies. Software applications enable organizations to generate revenue through digital business channels. This makes it more important to automate and release additional functionalities and applications. Due to cost savings, this has led to a shift towards the cloud. Huawei Technologies, a major player in the telecom sector, has moved its R&D center in India to its cloud computing platform, called “Desktop Cloud” The company saved almost 88% on its overall costs by migrating its storage and computing to the cloud.
North America to Hold a Major Market Share
The region has a high rate of BYOD, which means that it is imperative to secure enterprise data and find cost-effective ways to manage IT deployment. A Cisco study found that US workers can save on average 81 minutes per week by using their devices. According to Avaya, almost half of all North American enterprises/workplaces had adopted BYOD in 2016, a prominent technology company in the United States. These figures show the level of implementation and satisfaction with BYOD in US companies, which provides opportunities for vendors to enter the market. The region’s strong economic growth is expected to lead to increased enterprise expansion. The BYOD trend offers vendors opportunities in the market, as well as enterprise growth.
Workspace as a service market can be highly competitive. There are several large players. Few of the top players in the market currently hold the majority of the market share. Companies are expanding their market presence through new contracts and tapping new markets. Amazon Web Services, for instance, added a Linux option in its desktop to its service workspaces. This addition allowed the company to offer WorkSpaces to developers that allow them to work with Linux. The Linux version contains all the AWS SDKs, tools, and developer tools such as Mono, Java, and GCC. Industry players also invest in modernizing and improving service support. In 2017, Unisys upgraded workspace services for Catholic Health Initiatives under a five-year contract.