On the basis of geographical analysis, the global virtual workspace management tools market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in North America is estimated to gather the largest share over the forecast period on the back of the high rate of adoption of workspace tools in virtual desktops across the region. In addition, early adoption and implementation of innovative IT solutions is also expected to boost the growth of the market in the region in the coming years. Moreover, the market in Europe is also projected to occupy a notable share during the forecast period owing to the growing deployment of workspace management tools in the region as a result of reduction in the total ownership cost.
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The global virtual workspace management tools market is further classified on the basis of region as follows:
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
Our in-depth analysis of the global virtual workspace management tools market includes the following segments:
By End User
By Enterprise Size
March 2021- Cisco enabled trusted workplaces and safe return to office for workers however and wherever they want through Webex and collaboration devices leveraging sensors, alerts and AI.
April 2019- Dell Technologies introduced Unified Workspace which is claimed to simplify the entire device lifecycle for IT while providing workers with the personalized, and ready-to-work experience they demand.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Abhishek Verma, Hetal Singh
Ans: The major factors driving market growth are continuous adoption of workspace tools by large enterprises, and increasing investments in advanced technologies.
Ans: The market is anticipated to attain a robust CAGR over the forecast period, i.e., 2022 – 2030.
Ans: Increasing number of cybersecurity threats is estimated to hamper the market growth.
Ans: North America will provide more business opportunities for market growth owing to the high rate of adoption of workspace tools in virtual desktops across the region.
Ans: The major players in the market are Bitrix, Inc., Cisco Systems Inc., Dell Inc., Microsoft Corporation, VMWare, Inc., and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by platform, end user, enterprise size, and by region.
Ans: The Windows segment is anticipated to hold largest market size and is estimated to grow at a steady CAGR over the forecast period and display significant growth opportunities.