Workspace as a Service Market -Competitive Dynamics & Global Outlook?2022

Posted by RASHMI on March 27th, 2019

Desktop virtualization has become mainstream technology in the last few years with the rapidly changing business environment and work culture. With increasing demand for device-independence and remote access to corporate data and business applications, many organizations are allowing their employees to use their personal devices such as smartphones, tablets, and laptops to access their office desk from anywhere, at any time. Workspace as a service (WaaS) can be provided as a dedicated infrastructure, outsourcing the infrastructure management to third parties or as a hosted on-premise solution.

Use of WaaS results in significant reduction in capital expenditure as complete desktops, including applications and operating systems, can be managed and upgraded from a centralized server. Thus, the advantage of reduced capital expenditure is a major driving factor for the adoption of WaaS solutions and services. Further, enterprise mobility trends such as bring your own device (BYOD) which are catching on rapidly, may expose sensitive data to various threats such as data theft and hacking. Thus, the use of WaaS solutions ensures the security and integrity of organizational data, thus driving increasing adoption of WaaS in industries such as telecommunication, IT, and BFSI.

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WaaS solutions are finding an increasing level of adoption across industries such as banking, financial services and insurance (BFSI), travel and hospitality, healthcare, IT and telecommunication, manufacturing, retail, education, and a number of government sectors. Of these, BFSI is presently the dominant end-use industry. The sector contributed US.25 bn to the overall revenues of the global WaaS market in 2014.

However, the education and healthcare sectors are expected to lead to the most promising growth opportunities for WaaS solutions and applications in the next few years. Over the period between 2015 and 2022, the WaaS market in the education and healthcare industries is expected to expand at CAGRs of 13.0% and 12.9%, respectively. The rising use of industry-specific virtualized applications in these industries will drive the demand for WaaS solutions.