According to new data from SNS Insider, the workspace as a service (WaaS) market is expected to hit $25.24 billion by 2030. This achievement would mark a 16.52 percent CAGR over 2022’s $7.43 billion.
Of note, WaaS market growth was attributed to increasing adoption of remote work models, mobile device proliferation and increased demand for cost-effective IT solutions. Additionally, organizations spanning multiple industries are seemingly embracing WaaS to streamline IT management, reduce capital expense and bolster workplace productivity.
The study also reinforced the popularity of WaaS for extending security, including enhanced features such as data encryption, multi-factor authentication and centralized access control, plus support for addressing data breach and compliance requirement concerns.
SNS also noted that a key driver of WaaS is its ability to support evolving workforce needs, including:
- With the rise of remote and hybrid work arrangements, seamless access to the digital workspace from any location and device.
- Delivering consistent user experiences across desktops, laptops, tablets and smartphones to foster collaboration, innovation and employee satisfaction.
- Offering scalability to accommodate fluctuating workloads and seasonal demand spikes.
- Ensuring optimal performance and resource utilization.
To request a sample of the report, click here.
