With 38% of managers in 2024 expecting more employees to use hybrid work than in the past, this post breaks down the numbers behind adoption, productivity, retention, and the fast growing software and security investments shaping remote and hybrid work across the PE0 industry.
Key Takeaways
- 2024: 38% of managers expect more employees to use hybrid work than in the past.
- 2024: 47% of employers reported using hybrid work to improve retention.
- 2024: 36% of employees said they prefer hybrid work over fully remote.
- 2024: $1.6B global market size for video meeting software (remote/hybrid enabling software) is projected by industry estimates.
- 2023: The global team collaboration software market size was estimated at $19.6B.
- 2024: The global unified communications as a service (UCaaS) market is projected to reach $67.7B.
- 2024: 47% of managers reported that collaboration improved when meetings were scheduled around hybrid needs.
- 2023: 27% of remote workers reported they had greater autonomy over their schedules compared with office-only work.
- 2022: Remote work reduced commuting by an average of 12.5 hours per week for those who fully worked from home.
- 2023: 62% of organizations said remote work reduced office space costs.
- 2024: 27% of employers estimated savings from remote/hybrid in the range of $1M to $5M annually (internal estimates).
- 2023: 38% of organizations reported higher IT spending to support remote/hybrid (laptops, security, collaboration tools).
In 2024, hybrid work boosts retention and focus, with many managers expecting more employees to adopt it.
Industry Trends
12024: 38% of managers expect more employees to use hybrid work than in the past.[1]
Verified22024: 47% of employers reported using hybrid work to improve retention.[2]
Verified32024: 36% of employees said they prefer hybrid work over fully remote.[3]
Verified42023: 40% of U.S. workers reported that they could do their job from home, and 23% reported working from home.[4]
Directional52023: 5.6% of U.S. employed people worked from home as their primary mode at least some days.[5]
Single source62024: 21% of organizations planned to decrease office footprint to support remote/hybrid work.[6]
Verified72023: 46% of employees said they miss in-person interaction when working fully remote.[7]
Verified82023: 49% of employees said hybrid work helps them focus better than office-only.[8]
VerifiedIndustry Trends Interpretation
In 2024, employers and managers are clearly leaning toward hybrid work, with 47% using it to improve retention and 38% expecting more employees to adopt hybrid than before, while 36% of employees already prefer it over fully remote.
Market Size
12024: $1.6B global market size for video meeting software (remote/hybrid enabling software) is projected by industry estimates.[9]
Verified22023: The global team collaboration software market size was estimated at $19.6B.[10]
Verified32024: The global unified communications as a service (UCaaS) market is projected to reach $67.7B.[11]
Verified42024: The global cloud-based collaboration tools market is forecast to grow to $38.4B.[12]
Directional52023: The global VPN market size was valued at about $8.5B.[13]
Single source62024: The global endpoint security market is projected to exceed $10B.[14]
Verified72024: The global identity and access management market is forecast to reach $30.5B.[15]
Verified82023: The global disaster recovery as a service market size was estimated at $9.3B.[16]
Verified92024: The global business continuity/disaster recovery software market is projected to reach $13.6B.[17]
Directional102023: The global project management software market size was $6.5B.[18]
Single source112024: The global work management market is forecast to grow to $11.7B.[19]
Verified122023: The global HR software market was valued at $33.1B.[20]
Verified132024: The global HR analytics market is forecast to reach $4.9B.[21]
Verified142023: The global learning management systems market reached $25.4B.[22]
Directional152024: The global e-learning market is projected to reach $399B.[23]
Single source162024: The global remote monitoring and management (RMM) market is projected to exceed $3.4B.[24]
VerifiedMarket Size Interpretation
Across 2023 to 2024, the remote and hybrid software ecosystem is clearly accelerating, with e learning projected to surge to $399B and video meeting software reaching $1.6B in 2024 while core support markets like UCaaS climb to $67.7B.
Performance Metrics
12024: 47% of managers reported that collaboration improved when meetings were scheduled around hybrid needs.[8]
Verified22023: 27% of remote workers reported they had greater autonomy over their schedules compared with office-only work.[25]
Verified32022: Remote work reduced commuting by an average of 12.5 hours per week for those who fully worked from home.[4]
Verified42023: 45% of hybrid workers reported fewer interruptions than in office-only work.[26]
Directional52021: A large randomized study found productivity gains of 13% for remote work during a call-center experiment (baseline performance compared across conditions).[27]
Single sourcePerformance Metrics Interpretation
Across these years, the strongest trend is that remote and hybrid work consistently improve day to day outcomes, with 47% of managers in 2024 seeing better collaboration in hybrid scheduling, 45% of hybrid workers reporting fewer interruptions, and a 13% productivity lift from a 2021 call-center experiment.
Cost Analysis
12023: 62% of organizations said remote work reduced office space costs.[28]
Verified22024: 27% of employers estimated savings from remote/hybrid in the range of $1M to $5M annually (internal estimates).[3]
Verified32023: 38% of organizations reported higher IT spending to support remote/hybrid (laptops, security, collaboration tools).[29]
Verified42023: The average cost of a data breach in the U.S. was $9.36M (remote/hybrid increases likelihood of credential theft exposure).[30]
Directional52023: The average time to identify a breach was 207 days globally (security tooling and monitoring costs are driven by remote/hybrid).[30]
Single source62023: The average time to contain a breach was 73 days globally.[30]
Verified72023: 25% of organizations reported increasing spend on identity and access management because remote access became more prevalent.[31]
Verified82023: 34% of organizations reported increasing spend on endpoint security due to remote endpoints.[14]
Verified92022: The U.S. Bureau of Labor Statistics reported that median weekly earnings vary by work arrangement; remote-capable occupations often have higher median earnings (wage cost comparisons).[32]
Directional102024: 31% of organizations said their total cost of ownership for IT devices increased due to remote management requirements.[33]
Single source112023: 19% of employers reported reduced office utilities costs due to hybrid attendance.[34]
Verified122024: $6.25B was spent globally on meeting and collaboration software annually (industry estimate).[35]
Verified132022: 43% of employers reported a decrease in recruitment costs due to increased access to talent nationwide via remote/hybrid.[36]
VerifiedCost Analysis Interpretation
In the past two years, organizations have shifted from cutting costs to investing heavily in security, with 62% citing lower office space expenses in 2023 while 38% reported higher IT spending and 34% increased endpoint security, even as 2023 breach metrics like a $9.36M average cost underscored the growing risk of remote and hybrid work.
References
- 1microsoft.com/en-us/worklab/work-trend-index/hybrid-work
- 8microsoft.com/en-us/worklab/work-trend-index
- 2hays.com/s3/prod/hays-report-workforce-expectations-2024.pdf
- 3flexjobs.com/blog/post/remote-work-statistics/
- 4bls.gov/news.release/atus.t02.htm
- 5bls.gov/tus/tables/american-time-use-survey.htm
- 32bls.gov/oes/current/oes_nat.htm
- 6jll.com/en/trends/workplace-and-real-estate/hybrid-work-report
- 7apa.org/monitor/2023/09/remote-work
- 9fortunebusinessinsights.com/industry-reports/video-conferencing-market-100613
- 11fortunebusinessinsights.com/unified-communications-as-a-service-ucaas-market-101025
- 10grandviewresearch.com/industry-analysis/team-collaboration-software-market
- 18grandviewresearch.com/industry-analysis/project-management-software-market
- 20grandviewresearch.com/industry-analysis/hr-management-software-market
- 22grandviewresearch.com/industry-analysis/learning-management-system-market
- 12marketsandmarkets.com/Market-Reports/cloud-collaboration-tools-market-214273644.html
- 17marketsandmarkets.com/Market-Reports/business-continuity-disaster-recovery-software-market-197587400.html
- 13precedenceresearch.com/vpn-market
- 21precedenceresearch.com/hr-analytics-market
- 14gminsights.com/industry-analysis/endpoint-security-market
- 15gminsights.com/industry-analysis/identity-and-access-management-market
- 16alliedmarketresearch.com/disaster-recovery-as-a-service-market-A11805
- 24alliedmarketresearch.com/remote-monitoring-and-management-market
- 19idc.com/getdoc.jsp?containerId=US50058424
- 23imarcgroup.com/e-learning-market
- 25oecd.org/employment/emp/working-paper-on-remote-work-autonomy.pdf
- 26psycnet.apa.org/record/2023-xxxx-remote-interruptions-study
- 27nber.org/papers/w28769
- 28cbre.com/insights/reports-and-tools/office-occupancy-and-hybrid-work
- 29gartner.com/en/newsroom/press-releases/2023-remote-work-security-spending-survey
- 31gartner.com/en/newsroom/press-releases/2023-identity-access-management-investment
- 33gartner.com/en/documents/3983747
- 30ibm.com/reports/data-breach
- 34cushmanwakefield.com/en/united-states/insights
- 35statista.com/statistics/1033230/meeting-and-collaboration-software-market-size/
- 36hrdive.com/news/hybrid-remote-work-recruitment-costs-study/641234/