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Global Virtual Workspaces Software Market Share is Likely To Grow at a CAGR Value of 21.20% By 2028

10-Aug-2022 | Facts and Factors

According to Facts and Factors, the global virtual workspaces software market size was worth around USD 9,273.40 million in 2021 and is estimated to grow to about USD 29,393.73 million by 2028, with a compound annual growth rate (CAGR) of approximately 21.20% over the forecast period. The report analyzes the virtual workspaces software market's drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the virtual workspaces software market.

Virtual workspace software is the solution that offers a group environment through conferencing features, interactive virtual displays, and equipment synchronization. It provides a variety of communication nodes and the capacity to share ideas over the cloud, allowing meetings between the groups to take place regardless of their geographic location. Virtual workspaces software also helps integrate company content management systems and project management tools. Virtual workspaces are software solutions that provide an immersive collaborative environment through interactive visual displays, conferencing features, device synchronization, and considerable interaction with external collaboration apps. This device aids in managing and organizing IT. Virtual workspaces software is widely used in the retail, financial services, and healthcare industries because it promotes improved data protection and business continuity. Owing to the rise in demand for virtual workspaces software, the global virtual workspaces software market is estimated to grow at a CAGR of 21.20% during the forecast period.

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Browse the full “Virtual Workspaces Software Market Size, Share, Growth Analysis Report By Deployment Mode (On-Premise and Cloud-Based), By Application (Product Development, Customer Support and Team Communication), By End-User (Small & Medium-Sized Enterprises and Large Enterprises), By Vertical (IT & Telecommunications, Manufacturing, Semiconductor & Electronics, Retail & Consumer Goods and Transportation & Logistics), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/virtual-workspaces-software-market

The complexity and diversity of workplace resource management considerably drive the use of virtual workspace software. The demand for firms to spend less on capital drives the global market for virtual workspace software. The global virtual workspace software market is anticipated to proliferate during the forecast period due to increased digitization and technological advances in the various industrial verticals. The increasing use of connected devices in virtual workspaces is the primary driver fuelling market expansion. It is also predicted that the availability of corporate data from any location will accelerate the development of the virtual workspaces software market globally. It is anticipated that ongoing advancements in cloud technology would support market expansion. Demand for products is expected to increase due to improved features in storage technologies and graphics processing units.

Segmental Overview

The global virtual workspaces software market is segregated based on deployment mode, application, end-user, vertical, and region. Based on deployment mode, the market is segregated into cloud-based and on-premise. Over the forecast period, the cloud-based segment dominated in 2021. Based on application, the market is divided into product development, customer support and team communication. Over the forecast period, the customer support segment dominated in 2021. Based on end-user, the market is divided into small &medium-sized enterprises and large enterprises. Over the forecast period, the large enterprise segment dominated in 2021. The market is divided into IT &telecommunications, manufacturing, semiconductor & electronics, retail &consumer goods and transportation. Over the forecast period, the &telecommunications segment dominated in 2021.

Regional Overview

The global virtual workspaces software market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America dominated the global virtual workspaces software market in 2021due to the widespread use of workspace utilities in virtual workspaces software in the region. The United States is a prominent market in the sector because of its early adoption and use of advanced and innovative technologies. The rise of the regional market is attributed to the high rate of product acceptance in the area and the paradigm shift experienced in the technological community, including cloud computing, IoT, big data, and machine learning.

Report Scope

Report Attribute

Details

Market Size in 2021

USD 9273.40 Million

Projected Market Size in 2028

USD 29393.73 Million

CAGR Growth Rate

21.20% CAGR

Base Year

2021

Forecast Years

2022-2028

Key Market Players

Atlantis Computing, Bitrix Inc., Ivanti Software, Citrix Systems, Dell Inc., Microsoft Corporation, Cisco Systems Inc., Matrix42, RingCube Technologies, Sococo, PRYSM, VMware Inc., Amazon Workspaces, BLUESCAPE, and Others

Key Segment

By Deployment Mode, Application, End-User, Vertical, and Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

Purchase Options

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Competitive Landscape

The report contains qualitative and quantitative research on the global virtual workspaces software market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts.

Key players in the global virtual workspaces software market include Atlantis Computing, Bitrix, Inc., Ivanti Software, Citrix Systems, Dell Inc., Microsoft Corporation, Cisco Systems Inc., Matrix42, RingCube Technologies, Sococo, PRYSM, VMware, Inc., Amazon Workspaces and BLUESCAPE.

Recent Development

  • In July 2020, Citrix systems expanded its collaboration with Microsoft corporation to leverage the companies' experience in fostering virtual workplace adoption. The partnership intends to merge Microsoft 365 applications with Citrix desktop virtualization to improve remote access capabilities.

Global virtual Workspaces Software Market is segmented as follows:

By Deployment Mode 

  • On-Premise
  • Cloud-Based

By Application 

  • Product Development
  • Customer Support
  • Team Communication

By End-User 

  • Small & Medium-Sized Enterprises
  • Large Enterprises

By Vertical 

  • IT & Telecommunications
  • Manufacturing
  • Semiconductor & Electronics
  • Retail & Consumer Goods
  • Transportation & Logistics

By Region

  • North America

    • The U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

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