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Digital Workplace Market Size To Reach USD 76.6 Billion by 2027 with a CAGR of 21.8% – Report by Market Research Future (MRFR)

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New York, US, July 05, 2022 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR), “Digital Workplace Market Comprehensive Study by Component, by Deployment, by Organization Size, by Vertical, By Region – Forecast”, to Cross USD 76.6 Billion By 2027.

Digital Workplace Market Overview

A digital workplace refers to a cloud or on-premises-based work platform which enables organizations to move work to the virtual space. A digital workplace platform consists of all the collaboration features, data, applications, and tools employees need to perform work within a dependable online interface that they can handle anywhere, at any time, and on any device..

Digital Workplace Market Scope:

Report Metrics Details
  Market Size USD 76.6 Billion by 2027
  CAGR 21.8% From 2021 To 2027
  Base Year 2020
  Forecast Period 2021 To 2027
  Historical Data 2019
  Forecast Units Value (USD Million)
  Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered By Component, Deployment and Region
  Geographies Covered North America, Europe, Asia-Pacific and Rest of the World
  Key Vendors International Business Machines Corporation (US), Cognizant Technology Solutions Corporation (US), Zensar Technologies (India), Wipro Limited (India), HCL Technologies (India), Atos (France), Capgemini SE (France), NTT Data Corporation (Japan), Infosys Limited (India), DXC Technology (US), Accenture plc (Ireland), Fujitsu Limited (Japan), Unisys Corporation (US), The Hewlett Packard Enterprise Company (US), Tata Consultancy Services (India)
  Key Market Opportunities Increasing adoption of cloud and enterprise mobility services among organizations
  Key Market Drivers Demand for greater flexibility and improved employee experience

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Digital Workplace Market USP Covered

Market Drivers

The global digital workplace market has recorded a major rise in the growth rate in the last few years. The market’s growth is mainly attributed to the demand for greater flexibility. Furthermore, factors such as increased team member experience, rapid adoption of the digital workplace by business leaders across the globe, and a growing focus on improved customer experience are also likely to catalyse the market’s growth over the assessment timeframe. Moreover, the digital workplace platforms consolidate all team member data in one particular location, makeup it easy to work, and stay connected from anywhere, at any time. In addition, the improved productivity, growing demand for cost optimization, increasing adoption of the digital workplace from the developing economies, and rising adoption of cloud and enterprise mobility services among organizations are also some of the major parameters likely to boost the growth of the digital workplace market over the assessment timeframe.

COVID-19 Impact

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The global COVID-19 pandemic has had a major impact on the majority of the market sectors across the globe. Several companies functioned effectively before the COVID-19 pandemic; the epidemic caused even more organizations to quickly speed up digital adoption and employ best practices that until now were “nice to have.” The COVID-19 pandemic stopped the digital deferment period, catering to the softer ignition for the digital revolution.

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Furthermore, the global health crisis forced lockdown situations across several economies. It implemented various restrictions such as import-export ban, work from home, travel barriers, and closure of the shops & markets. The pandemic had a major impact on the market areas such as transportation, automotive, tourism, oil and gas, leisure, hospitality, trade, and manufacturing. The industries implemented several strategies to cope with the pandemic situation in which digital workplace strategy has achieved major distinction across the organizations.

Digital Workplace Market Segment Analysis

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Among all the components, the services segment is anticipated to secure the top position across the global digital workplace market over the forecasted era. Furthermore, the segment is split into managed services and professional services.

Out of all the deployment methods, the cloud segment is projected to record the highest CAGR over the assessment timeframe.  

Considering the organization size, the SME segment is anticipated to register the highest growth rate over the forecasted timeframe.

Among all the verticals, the telecommunication and ITes, manufacturing, and BFSI sector are likely to contribute the maximum share across the global digital workplace market over the assessment timeframe.

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Digital Workplace Market Regional Analysis

The global digital workplace market is studied across five major regions: Middle East & Africa, South America, Asia-Pacific, Europe, and North America.

The MRFR analysis suggests that the North American region will secure the top position across the global digital workplace market over the assessment timeframe. The region is further split into Mexico, Canada, and the US. The regional market’s growth is mainly attributed to the early implementation of innovative technologies across enterprises. Canada and the US are the leading revenue pockets across the region. Furthermore, the rapid adoption of advanced technologies such as Robotic Process Automation (RPA), Augmented Reality (AR), and Artificial Intelligence (AI) is boosting the growth of the regional market over the assessment timeframe. Social media collaboration outside the enterprise has significantly driven the market growth across the region, particularly the US region. In addition, the presence of prominent digital workplace vendors across the region is another crucial parameter supporting the regional market’s growth over the coming years.

The digital workplace market for the European region is likely to register substantial growth over the assessment timeframe. The region is further split into France, Germany, the UK, and the Rest of Europe.

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The Asia-Pacific regional market for the digital workplace is likely to register the highest CAGR over the forecasted timeframe. The regional market’s growth is mainly attributed to the growing implementation of digital workplace approaches across medium and small-sized enterprises. The firms have realized the significance of team member engagement to provide a better customer experience, which in turn causes a major rise in the demand for the digital workplace over the assessment timeframe. The nations such as Australia, South Korea, India, Japan, and China are the leading growth engines of the APAC region’s digital workplace market growth. Likewise, Southeast Asian nations are also come to rise as the leading markets for the digital workplace in the last few years. They are anticipated to launch new avenues for the digital workplace market during the assessment timeframe.

Competitive Analysis

The global digital workplace market has prominent leaders such as:

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  • DXC Technology (US)
  • NTT Data Corporation (Japan)
  • International Business Machines Corporation (US)
  • Atos (France)
  • Cognizant Technology Solutions Corporation (US)
  • HCL Technologies (India)
  • Zensar Technologies (India)
  • The Hewlett Packard Enterprise Company (US)
  • Accenture plc (Ireland)
  • Wipro Limited (India)
  • Fujitsu Limited (Japan)
  • Capgemini SE (France)
  • Tata Consultancy Services (India)
  • Infosys Limited (India)
  • CompuCom Systems Inc. (US)
  • Unisys Corporation (US)

Related Reports:

Global Connected Workplace Market, by Components, By Types, By Deployment, By Applications – Forecast 2030

Smart Workplace Market, By Component, By Product, By Office Type, By Communication Technology – Forecast 2027

Workplace Transformation Market: by Service Type, Organization Size, End-User – Global Forecast till 2027

About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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Artificial Intelligence

18 of the Top 20 Medtech Companies Partner with Veeva MedTech to Get Devices and Diagnostics to Patients Faster

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More than 125 medtech customers use Veeva applications for seamless execution across product development
BARCELONA, Spain, Oct. 2, 2024 /PRNewswire/ — Veeva Systems (NYSE: VEEV) today announced that 18 of the top 20 medtech companies leverage Veeva Development Cloud and Veeva Commercial Cloud applications to streamline processes across the total medtech product lifecycle. Veeva MedTech enables more than 125 customers with deep industry expertise and technology from ideation to commercialization. With an increasing need to keep up with industry changes for faster time to market, medtech companies are moving to connected applications on a single cloud platform to execute key processes more efficiently.

“With dozens of studies across hundreds of global sites, simplifying clinical operations with unified document management and streamlined workflows is a top priority,” said Matt Christensen, senior vice president at Smith+Nephew. “Using Veeva MedTech’s unified clinical solution drives transparency, ensures integrity of study files, and speeds trial timelines.”
Veeva MedTech enables end-to-end product lifecycle management with Veeva Vault Clinical, Veeva Vault RIM, Veeva Vault Quality, and Veeva Vault Commercial. Using advanced applications built with medtech industry best practices, customers can access real-time insights to make data-driven decisions, automate processes, and maintain inspection readiness. This reduces manual work and improves cross-team collaboration while driving growth, cost efficiency, and compliance.
“This momentum shows that the global medtech industry has made great strides in modernizing systems, establishing a foundation across the product lifecycle to leverage into the future,” said Seth Goldenberg, vice president, Veeva MedTech. “With the top medtech leaders standardizing on Veeva applications, we will continue to learn and advance the industry toward more streamlined processes to deliver innovative new devices and diagnostics to patients in need.”
More than 200 industry professionals will network, share best practices, and hear valuable insights from medtech leaders, including Bio-Rad Laboratories, Philips, and ZEISS Medical Technology, at Veeva MedTech EU Summit. Medtech industry professionals can register for the Nov. 5 – 7 event in Amsterdam.
About Veeva SystemsVeeva is the global leader in cloud software for the life sciences industry. Committed to innovation, product excellence, and customer success, Veeva serves more than 1,000 customers, ranging from the world’s largest biopharmaceutical companies to emerging biotechs. As a Public Benefit Corporation, Veeva is committed to balancing the interests of all stakeholders, including customers, employees, shareholders, and the industries it serves. For more information, visit veeva.com/eu.
Veeva Forward-looking StatementsThis release contains forward-looking statements regarding Veeva’s products and services and the expected results or benefits from use of our products and services. These statements are based on our current expectations. Actual results could differ materially from those provided in this release and we have no obligation to update such statements. There are numerous risks that have the potential to negatively impact our results, including the risks and uncertainties disclosed in our filing on Form 10-Q for the period ended July 31, 2024, which you can find here (a summary of risks which may impact our business can be found on pages 36 and 37), and in our subsequent SEC filings, which you can access at sec.gov.
Contact:
Jeremy WhittakerVeeva [email protected]
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Cybersecurity is fastest growing IT occupation in the UK, reveals Socura report

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But skills gap persists with just one security professional for every 86 companies
CARDIFF, Wales, Oct. 2, 2024 /PRNewswire/ — Socura, a UK-based cybersecurity services business that protects many of the nation’s biggest NHS trusts, councils, and private companies, has released its UK cybersecurity careers 2024 report, ‘Their next job was in cyber’. 

The report is released four years after the UK government’s infamous ‘Fatima’ ballet ad promoting cyber as a career option. Based on Office of National Statistics data, it reveals that cybersecurity is now the fastest growing tech occupation in the UK, with the number of people in cyber roles more than doubling (128%) between 2021 and 2024. Despite this growth rate, there are not yet enough cybersecurity professionals to tackle the growing threat to UK businesses, with only one security pro for every 86 companies. 
Other key findings of Socura’s report include: 
There are 4,600 more women in cybersecurity roles in 2024 compared to 2021. However, the percentage of women in cybersecurity roles has decreased and now stands at 17%, down from 24%. London is less of a hub for cybersecurity professionals than it is for other IT professionals. 25% of all IT workers are based in London, compared to 17% of cyber workers.Northern Ireland and Wales are the countries in the UK with the fewest cybersecurity professionals. “Cybersecurity may be the fastest growing IT occupation in the UK but the skills shortage in the industry remains a concern,” said Andy Kays, CEO at Socura. “Many businesses simply do not have the specialists they need to defend against cyber attacks.  
“To fix this problem at a national level, we need more initiatives like the NCSC-backed Academic Centres of Excellence and ways to reach even younger people so that they can discover technology in schools. For organisations struggling to recruit cybersecurity experts, finding a trusted managed services partner to bolster capabilities and ease the load remains vital to bridging the gap.” 
“Attracting more workers, particularly women, into cyber remains a key challenge for the industry,” said Dr Kathryn Jones, Head of School, Computer Science and Informatics at Cardiff University. ”However, gender imbalance and the low representation of women is a wider issue in the tech sector, not only cybersecurity. The number of women enrolled on computer science and software engineering courses, for example, is typically also low.  
“Cybersecurity is an exciting and varied career choice but more initiatives like the NCSC’s Cyber First Girls competition are needed to raise awareness.” 
Resources 
Read summary blogDownload full report Methodology Socura’s analysis is based on UK ONS annual population survey data, which tracks occupation figures based on 15 IT-related Standard Occupational Classification (SOC2020) codes such as 2135 cybersecurity professionals. The ONS annual population is a continuous survey that consists of 12 months of survey data, which is broken down and released on a quarterly basis. 
About Socura Socura reduces cyber risk by proactively detecting and responding to threats, 24/7. Our Managed Detection and Response (MDR) service operates as an extension of an organisation’s security team – supplying highly skilled SOC experts and the additional capabilities needed to scale security operations and accelerate response to attacks. 
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Euromonitor International launches Passport AI – a gamechanger for the data analysis industry

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Passport AI will leverage the power of generative AI to transform the way our clients’ access and use market intelligencePassport AI’s impressive features, combining cutting-edge artificial intelligence with human intelligence, will ensure fast and easy access to the Passport platform Paradigm shift solution utilises a powerful combination of technologies and approachesLONDON, Oct. 2, 2024 /PRNewswire/ — Euromonitor International has today launched Passport AI – a game changer for the data analysis industry.

Passport AI is specially designed to supercharge the power of data analytics firm Euromonitor International’s market intelligence expertise. The platform will leverage the power of generative AI to transform the way clients are able to access and use Euromonitor’s market intelligence.
Euromonitor’s Passport AI utilises a powerful combination of technologies and approaches: 
Large Language Models (LLMs): These powerful AI models are trained on massive amounts of text data. Passport AI leverages LLMs to understand your natural language questions and identify relevant information within our extensive content library.Retrieval Augmented Generation (RAG): This approach ensures Passport AI stays grounded in fact-based information. Instead of creating entirely new responses, RAG retrieves and summarises relevant content from trusted Euromonitor publications. This allows clients to verify the source of the information and feel confident in its reliability. Multi-Agent System (MAS): This innovative system acts behind the scenes, working like a team of virtual researchers. MAS helps Passport AI refine your question and identify the most relevant information across our content, even with terminology specific to Passport or newly introduced natural language search. Combining cutting-edge artificial intelligence with human intelligence
Lamine Lahouasnia, Director of Generative AI at Euromonitor International, said: “We are already the first destination for organisations seeking growth and Passport AI’s impressive features, combining cutting-edge artificial intelligence with human intelligence, will ensure fast and easy access to our Passport product and our data analytics.
“Unlike other generative AI tools, the information provided by Passport AI is 100% sourced from Euromonitor’s trusted content. This transparency allows users to interrogate the underlying sources and have complete confidence in the credibility of the answers they receive.”
Tim Kitchin, CEO of Euromonitor International, said: “This significant investment in Passport AI underscores our dedication to client empowerment and demonstrates our commitment to continuous product improvement. We believe Passport AI will help clients derive even more value from the intelligence they already have access to within Passport, make the most of opportunities our insights uncover and achieve greater success.”
For more information about Passport AI book a demo.

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