Albany, NY, Dec. 15, 2015 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research “Workspace as a Service (WaaS) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2022”, the global WaaS market is forecast to reach US$ 18,375.7 Mn by 2022.
The growth of WaaS market is majorly driven by increasing enterprise mobility trends such as bring your own device (BYOD). Further, increasing trend of using personal devices such as smartphones, tablets, and personal laptops for official work has created security concerns related to the data handled and saved on these devices. This is driving the adoption of WaaS solutions. Further, termination of support for Windows XP by Microsoft Corporation has boosted the desktop as a service (DaaS) workspace solutions.
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Global WaaS market was valued at US$ 7,470.1 Mn in 2014 and is expected to grow at a CAGR of 12.1% from 2015 to 2022. Rising demand for application specific workspace virtualization solutions has positively impacted the growth of global WaaS market, leading to increased customizations and subsequently higher service revenues. Deployment of WaaS solutions enables small and medium sized organizations to reduce the capital expenditure associated with the upgradation and migration of operating systems and applications. Due to this, rise in adoption of WaaS solutions has being observed across the small and medium size organization in the last few years. However, WaaS solutions require high network bandwidth for high workload operations; thus, requirement for high network bandwidth along with IT infrastructure requirements are seen as key challenges hindering the growth of WaaS market in developing economies.
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The WaaS market is classified on the basis of service type into desktop as a service (DaaS), application as a service (AaaS), system integration services, managed services, and consulting services. The DaaS segment is sub-segmented on the basis of deployment into distributed virtual desktop and centralized virtual desktop. DaaS segment led the global WaaS market in 2014, accounting for around 40% of the total WaaS market revenue.
Geographically, North America is expected to remain the largest market for WaaS solutions due to the availability of developed IT and telecommunications infrastructure. Further, the North America and Europe WaaS market are anticipated to be majorly driven by the replacement of traditional desktop virtualization solutions by advanced workspace virtualization solutions. However, Asia Pacific WaaS market is expected to significantly contribute to the growth of global WaaS market. This growth of Asia Pacific market is largely attributed to the increasing number of small and medium-size organizations and startups in the region.
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Global WaaS market is fragmented and competitive in nature. Major industry participants include Amazon Web Services, Inc., Citrix Systems, Inc., VMware, Inc., Microsoft Corporation, IndependenceIT Corporation, Getronics Global Services BV, Dell, Inc., Unisys Corporation, Colt Group S.A., Econocom Group SA/NV, among others. It has been recently identified that the key players in the WaaS market have started following the strategy of acquisition and mergers.
Other Reports Published By Transparency Market Research:
Software as a Service (SaaS) Market
Infrastructure as a Service (IaaS) Market
Platform as a Service (PaaS) Market
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Source:Transparency Market Research