WORKSPACE AS A SERVICE (WAAS) MARKET: GROWTH, TRENDS, COVID-19 IMPACT, AND FORECASTS (2023 - 2028)

Posted by Daniel Brown on January 16th, 2023

The Workspace as a Service (WaaS) was estimated to be worth USD 4.90 billion in 2020 and is anticipated to grow to USD 8.54 billion by 2026, at a CAGR of 9.7% during the forecast period (2021 - 2026). With WaaS solutions, employees can log into the service of the provider and be shown a virtual workspace desktop environment that looks and behaves exactly like their physical office desktop. WaaS solutions enable employees to be more productive and capable of acquiring essential apps and data, regardless of their location. Organizations are recognizing the value of WaaS, which enables them to reduce infrastructure management costs while maintaining the employee experience and become less geographically confined.

BYOD and cloud computing have had significant penetration in the telecom and IT sector. The industry was a pioneer in WaaS adoption. Enterprises engaged in consulting and providing IT-based goods and services are included in the IT sector taken into account for the study. Because of this, a large portion of their manufacturing assets are intangible and comprise a variety of businesses.

Automation and the introduction of new apps and functionality are increasingly necessary since software applications enable firms to generate income from digital business channels. Due to the financial advantages of the cloud, this requirement has also prompted a switch.