Market Trends of Workspace As A Service (WaaS) Industry
Telecom and IT to hold a Major Market Share
- The telecom and IT sector have witnessed a high BYOD and cloud computing penetration rate. The sector has been an early adopter of WaaS. The IT sector considered for the study includes enterprises that are into consulting and offering IT-based products and services. Therefore, most of their manufactured assets are intangible and include many enterprises.
- WaaS is flexible and economical for meeting changing demands for a company's expansion, contraction, or seasonal changes. Businesses can scale their size as necessary to only pay for the services they utilize. Offering WaaS to employees will be essential for enterprises because many workers in all sectors adopt remote and hybrid work habits.
- WaaS provides end users with a virtual workspace model of the resources end users would have at their desks within a physical office environment, adopted by enterprises and small and medium businesses (SMBs) worldwide. Low costs and easy management have also led Workspace as a Service implementation to most IT and Telecom sectors.
- Since software applications allow organizations to derive revenue from digital business channels, there is a stronger need to automate and release new applications and functionalities. This need has also led to a shift to the cloud, owing to the cost benefits. The migration of software to cloud-based services enables IT and Telecom companies to have better security in their operations.
- Huawei Technologies, a prominent player in the telecom industry, migrated its R&D center in India to its cloud computing platform called 'Desktop Cloud.' The company could save almost 88% of its overall expenses by migrating its computing and storage to the cloud compared to the traditional desktop environment.
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North America to hold a Major Market Share
- North America is witnessing relatively high adoption rates of the BYOD trend. The need for securing enterprise data and finding cost-efficient ways of managing IT deployment is evident in the region, which drives North America's Workspace as a Service (WaaS) Market.
- The enterprise expansion across the region is expected with the economic development in North America. Therefore, adopting the WaaS trend and enterprise growth provides opportunities for the vendors in the market. Due to the remote access that WaaS models provide, employees can continue to be productive in the face of technological challenges. Users can switch from a device that gives them technical issues and continue working without losing any time for repairs, thanks to the option to log on to the desktop from any device.
- The region has a broad range of manufacturing industries, and the growth of the MSME sector is gearing up because the USA wants to produce in-house supplier products for its OEMs. The rising fintechs for digitalization of the banking sector also support the WaaS market in the region because SMBs only have to pay for the number of end users they need at any given time due to the monthly subscription.
- Additionally, WaaS models make it simple for the business to scale the number of devices and users up or down on a monthly cycle without burdening the internal IT team with the responsibility of deploying, monitoring, and protecting those additional devices.
- Multiple users sharing a single desktop instance is one of the main benefits of cloud desktops. Having the same cloud desktop available at different times of the day might be very helpful for businesses working in several time zones. WaaS includes DaaS, which offers a flexible, multi-user access to a single desktop without extra cost, driving the market's growth in North America.
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