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Several industrial corners in the 1980s and ’90s were filled with the whirring screech and the smell of fax machines. However, these machines have, to put it mildly, become a relic, rendered obsolete by the rise of email and instant messaging. Could the same fate befall the suite of apps that blossomed during the remote work revolution?
The question arises as tech giants like Tesla, JP Morgan, UPS,? IBM and Walmart have made the calls to bring employees back to the office. In the UK, many notable employers are beginning to roll out return to office (RTO) policies.
At Manchester United, the club’s minority owner, Jim Ratcliffe, recently announced that the club would no longer permit work from home and is ready to cut ties with staff members unwilling to work from the office.
With offices reopening, we may likely witness a decline in remote work apps. Will the ease of popping over to a colleague’s cubicle make video calls a thing of the past? Will project management software gather dust gradually as teams huddle around whiteboards again?
Key Takeaways
- The remote workplace services market was projected to reach $109 billion by 2030, but recent trends show a slowdown in app downloads.
- Remote job opportunities are decreasing, with significant drops in both remote and hybrid high-paying positions.
- Return-to-office compliance varies globally, with Europe and Asia seeing higher rates compared to the United States.
- The future of remote work apps may depend on their ability to integrate with emerging technologies like augmented reality.
The Remote Work App Boom: A Multi-Billion Dollar Industry on the Precipice?
The past two years saw a remarkable rise in the popularity of remote work applications. With social distancing measures and lockdowns becoming the norm, businesses of all sizes scrambled to equip their newly remote teams with the tools needed to collaborate effectively from varying locations. This resulted in a multi-billion dollar industry, offering a vast array of solutions for video conferencing, project management, communication, and security.
According to Polaris Market Research, the global remote workplace services market size was valued at $20 billion in 2021 and was projected to reach $109 billion by 2030. This explosive growth reflects the critical role these applications have played in keeping businesses afloat during a period of unprecedented disruption.
However, with the tide seemingly turning towards a return-to-office, a question hangs on whether this multi-billion dollar industry will fall victim to the same fate as the fax machine.
A recent SplitMetrics study may have the answers. Their findings indicate that downloads for remote work apps for productivity and business on the Google Play Store are slowing down compared to the rapid increase seen in 2022.
While the findings suggest that apps in the business category are still doing some good numbers, apps in the productivity category have seen their download numbers decline by 12%.
Dip in Remote Job Availability
With more CEOs ordering their staff back to office spaces, reports show that the number of remote job opportunities has also continued to nosedive.
Career site Ladders, in a recent study found a notable drop in remote and hybrid job opportunities for high-income earners. The study noted a 60% decrease in remote jobs and a 95% drop in hybrid jobs offering at least $250,000 annually.
This trend isn’t confined to high salaries; LinkedIn in January, revealed that the demand for remote jobs is double the supply, with remote job postings down 23% from last year.
These numbers are not healthy for the remote work app industry which built its industry on the work-from-home mantra.
Dylan Young, Marketing Specialist at Caremax Australia, pointed out to Techopedia via email that the shift towards back-to-office, suggests low number of fully remote jobs, and reduced demand for remote work solutions, which could lead to decreased revenue and slower growth in the industry.
However, Allen Drennan, Co-Founder & Principal at Cordoniq, an enterprise video collaboration platform, sees things differently. He sees a situation where many organizations would force their staff to make a comeback to the office but with the continued use of remote work apps.
He told Techopedia:
“Yes, many employees must return to the office, but with the continuing use of remote work apps. People will still have to be connected to their jobs with many varied work tools and video collaboration.”
Can a Hybrid Model Save the Day?
As companies dial back on remote work, there is no doubt the new normal would push many remote work app developers back to the drawing board to figure out the way forward.
Some experts suggest it’s far from game over.
Gideon Kalu, CEO of software development company, Femur, told Techopedia:
“The workplace isn’t reverting; it’s evolving, and smart developers are already pivoting to hybrid solutions.
“The key seems to be adaptability. Companies like Zoom and Slack are rapidly enhancing their offerings to cater to hybrid work models. Features that blend in-office and remote experiences are becoming the new gold standard.”
But it’s not just about tweaking existing products. There’s a whole new market emerging around a hybrid work environment that app developers can cash in on, notes Drennan.
“Continued advancements in artificial intelligence and workplace shifts will drive the need for more remote work apps to allow for video meetings and tools to connect sales, management and employee collaboration,” Drennan explained.
With cyber threats on the rise, Kalu believes that remote work apps that can guarantee ironclad data protection are likely to stay in demand, regardless of where employees are based.
How Developers Can Make the Most Out of Hybrid Model
Recognizing the potential for a hybrid work environment to become the norm, remote work app developers could innovate and deploy new features and strategies to solidify their place in this evolving landscape. Here’s a glimpse into how the industry can adapt:
Push Out More Hybrid Work Features
One key area of focus is developing features that can integrate with both in-office and remote work scenarios. A 2022 study by Buffer found that 61% of employees globally prefer a hybrid work model.
Therefore, tools that allow for meeting scheduling with both physical and virtual attendees, or integrating seamlessly with in-office whiteboards and presentation tools, will be crucial for fostering collaboration in a hybrid environment.
We may likely see this feature when Apple releases the affordable models of its Vision Pro with augmented reality glasses. There is speculation that the software behind these devices would allow users to connect directly to the office boardroom as though they are in the environment.
Enhance Asynchronous Communication
While real-time communication remains important, asynchronous communication tools are gaining traction. Atlassian in its report revealed that 73% of knowledge workers prefer asynchronous communication for certain tasks. Features like threaded discussions, document co-editing capabilities, and improved file-sharing functionalities will allow teams to collaborate effectively regardless of location or time zone.
Choose the Right Demographic to Launch
Interestingly, the global picture for a return to office compliance varies widely.
For instance, in the US, it’s a reluctant shuffle. Despite stern calls from corporate bigwigs, American workers are dragging their feet. Statistics suggest that return to office compliance in the US still hovers at a sleepy 40-60% of pre-pandemic levels.
However, in Europe and Asia, it’s a different ball game. Streets are humming as up to 70-90% of workers return to their desks. Compact city living and efficient public transport make the office commute less daunting. Plus, with new “right to disconnect” laws, Europeans are finding a sweet spot between home and office life.
Developers can leverage this data to prioritize where to launch their next remote work or hybrid word solution.
The Bottom Line
While the world appears to have moved on from the ruins of COVID-19, the economic and cultural difficulties it left behind still hunt the global economy.
Granted that many sectors seem to have made a successful bounce back, some startups in the remote work app category are still struggling to kick into the next gear.
To avoid going the way of Fax machines, developers in this sector would need to overhaul their development and marketing strategies in a way that matches the current workplace trend.
