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Publication date: 16 May 2023

Future of Work Spending in Asia/Pacific* to Reach US$196.2 Billion by 2026

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Future of Work (FoW) Spending in 2022 Almost Reached US$100 Billion in 2022

SINGAPORE, 16 May 2023 – According to a recent IDC Market Forecast titled, Asia/Pacific (Excluding Japan) Future of Work Market Forecast, 2022–2026, Asia Pacific Excluding Japan (APeJ) Future of Work spending is forecasted to grow at a CAGR of 18.4% and reach US$196.2 billion by 2026. IDC expects APeJ FoW spending to grow at a year-over-year (YoY) rate of 19.9% in 2023 compared to 21.5% in 2022. Despite the slowdown of the growth rate, the total spending of the market continues to increase over the forecasted period.

IDC defines the FoW as a fundamental change to the work model to one that fosters human-machine collaboration, enables new skills and worker experiences, and supports a reimagined physical workplace and borderless digital workspace. This IDC market forecast presents spending forecasts from 2022 to 2026 for the three pillars (space, augmentation, and culture) that make up the Asia/Pacific FoW market. The total spending in all three segments of the market is estimated to have reached US$99.8 billion in 2022.

With the widespread adoption of hybrid work, organizations are investing in devices and enterprise applications to foster a better workplace and improve productivity. Further, tech spending is expected to accelerate due to investments in workplace augmentation to achieve better customer and employee experience. Robotics and drone technology category has the largest spending in the work augmentation market accounting for more than 50% of the augmentation spending in 2023 since organizations are investing in better communication and collaboration tools for their workforce. Other services and materials technology category which is primarily consisted of implementing and maintaining (IoT) solutions and 3D printing materials has the largest spending in the workspace market in 2023.

This IDC forecast, Asia/Pacific (Excluding Japan) Future of Work Market Forecast, 2022–2026 (Doc #AP50543423), analyzes the Asia/Pacific FoW market size in work augmentation, workspace, and work culture segments, citing data from the IDC Worldwide Future of Work Spending Guide V2, November 2022. It integrates FoW-related data from other Spending Guides based on the definition of FoW pillars, technology categories, and use cases. The report also presents the spending forecast of the APeJ FoW market by each pillar, including key drivers and inhibitors.

"Work models, both remote and hybrid, continue to advance, and are propelled by the move to the cloud and intelligent digital workspaces," says Dr. Lily Phan, Research Director, Future of Work, IDC Asia/Pacific. "Rising digital transformation (DX) spending and shifting dynamics of work augmentation and workplace technologies are spurring the FoW market in the upcoming years," she adds.

Organizations that rethink how work gets done stand a chance to be awarded Asia Pacific Best in Future of Work leader at IDC Future Enterprise Awards. Nominate your organization HERE. To find out more information about the Future of Work, download our free eBook.

For more information on this IDC forecast, please contact Dr. Lily Phan at lphan@idc.com. For media queries, please contact Michael de la Cruz at mdelacruz@idc.com or Miguel Carreon mcarreon@idc.com.

*Asia/Pacific excluding Japan



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About IDC

International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,300 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly-owned subsidiary of International Data Group (IDG), the world's leading tech media, data and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDCAP and LinkedIn. Subscribe to the IDC Blog for industry news and insights.



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