About Home Office Spending
The rapid shift of businesses towards working from home (WFH) and increasing reliance on remote working services amid the COVID-19 is the major driving force for the global home office spending market. Finance leaders are planning to move conventionally on-site workforce to permanently remote positions after the COVID-19 chapter has led to significant growth of the global home office spending market in the forecast period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 16.0% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Home Office Spending market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Microsoft Corporation (United States), Oracle Corporation (United States), IBM Corporation (United States), Panasonic Corporation (Japan), Google Inc. (United States), Huawei Technologies Co., Ltd. (China), Amazon Web Services Inc. (United States), Cisco Systems Inc. (United States), Honeywell International Inc. (United States) and LogMeIn, Inc. (Hungary) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Plantronics Inc. (United States), Avaya Inc. (United States) and Nuance Communications (United States).
Segmentation Overview
AMA Research has segmented the market of Global Home Office Spending market by , Application (Business Productivity, Information Security, Enterprise Communication and Others) and Region.
On the basis of geography, the market of Home Office Spending has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Deployment, the sub-segment i.e. Cloud-Based will boost the Home Office Spending market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Solution, the sub-segment i.e. Tools { Collaborations Tools, Conferencing Software, VPN Tool, Cloud Backup/Drive, and Remote Desktop Software} will boost the Home Office Spending market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Companies are Planning to Move Conventionally On-site Workforce to Permanently Remote Positions after COVID-19
Market Growth Drivers:
Increase in Number of Startups is Fueling the Market Growth and Remotely Managed IT Services – Safe and Cost-effective Approach
Challenges:
Rising Threats of the Cyber Security
Restraints:
Lack of Slikked Working Professionals
Opportunities:
Lockdown Imposed due to Coronavirus that Creating an Opportunity for Home Office Spending and Increasing Demand for Cloud-based Home Office Spending Solutions
Market Leaders and their expansionary development strategies
In February 2021, two major office furniture companies, Steelcase and Turnstone, announced their merger to create a leading North American office furniture provider
In March 2023, the UK government announced plans to focus on economic growth. This might have indirectly impacted manufacturing companies, but there's no mention of Home Office spending as a direct influence
Key Target Audience
Home Office Spending Solution Providers, Research Organizations and Consulting Companies, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.