The workplace services market in North America is expected to reach US$ 64,443.44 million by 2028 from US$ 36504.49 million in 2021. The market is estimated to grow at a CAGR of 8.5% from 2021 to 2028. Governments across all the regions pass regulations and laws in order to promote the economic and social welfare of the private sector companies. Regulations and laws support a competitive marketplace and protect workers and the environment. Excessive red tape might restrain companies from using resources innovatively and productively. Laws and regulations surge the operational costs for businesses, which, in turn, lower the profits. The costs that businesses pay to comply with unnecessary aspects of any regulatory command might hamper a company’s ability to meet its business performance goals. Thus, rise in regulatory burden might negatively impact numerous aspects of a firm’s business operations, which include production, resource allocation, profitability, productivity, and expansion. This is further driving the demand for workplace services. Additionally, the increasing importance of enterprise mobility is among the other factors expected to positively influence the demand for workplace services. Based on service type, the tech support services segment is anticipated to witness higher growth in the workplace services market during the forecast period.Tech support services are offered through diverse communication channels such as chat, email, phone calls, or using specified software.
The tech support service provider gives the customers the edge to perform better, even in critical situations.The support service industry is fragmented, and the providers are highly opting for growth strategies such as long-term contracts with various verticals, in order to compete in the global market.
The service providers considerably leverage growing requirements of enterprises to focus on core competencies to attain growth opportunities. The tech support service also helps an organization to effectively manage IT infrastructure, which ultimately drives the workplace services market. North America is one of the most important regions for the adoption and growth of new technologies due to favorable government policies to boost innovation, the presence of a huge industrial base, and high purchasing power, especially in developed countries such as the US and Canada.Hence, any impact on the growth of industries is expected to affect the region’s economic growth negatively.
Presently, the US is the world’s worst-affected country due to the COVID-19 outbreak, with 28,659,480 confirmed cases and 520,751 deaths as per the WHO.The US is one of the prominent markets for workplace services.
The factory and business shutdowns across the US, Canada, and Mexico negatively impacted various industries in 2020.However, workplace services vendors continued their operations remotely to offer the best services to their end users.
Even in the pandemic, several market players continued to be well-positioned to support their end users through the crisis. The novel coronavirus has propelled businesses to boost their digital transformations, which results in the eradication of traditional barriers to progress. Companies continue to help their end users by engaging virtually, modernizing and migrating applications to the cloud, allowing a remote workforce, and focusing on cybersecurity and IT resiliency. The overall North America workplace services market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining overview and forecast for the North America workplace services market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North America workplace services market. Accenture; Cognizant; CompuCom Systems, Inc.; DXC Technology Company; Fujitsu Limited; HCL Technologies; IBM Corporation; NTT DATA Corporation; Tata Consultancy Services Limited; Unisys Corporation; and Wipro Limited are among the key players operating in the North America workplace services market.
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