Flexible office space characterizes as shared office space, which is equipped with desks, chairs, telephone lines, and a setup that enables the employees to work from home to offer an experience for a few months, weeks, or hours of working in a physical office simulation. Some of the key advantages of flexible offices include improved productivity, cost reduction, and others. Various startups, non-governmental organizations, technology companies, and media & advertising companies have started adopting the perception of flexible office which is boosting its market growth.
As per analysis, “Flexible Office Market :Segmented By Type (Private Offices, Co-Working Space, Virtual Offices and Others); By Application (IT and Communications, Media and Entertainment, Retail and Consumer Goods and Others); By Space Provider (Big Brands and Independent Brands) and Region – Global Analysis of Market Size, Share & Trends for 2019 – 2020 and Forecasts to 2030” the key players operating in the worldwide flexible office market include Hubble, ShareDesk, Office Freedom, Green desk, Serendipity Labs, The Office Group, Davinci Virtual, Croissant, Instant, Davinci Virtual and among others.
Based on type, the flexible office market is segmented into co-working spaces, private offices, virtual offices, and others. Based on application, the market is segmented into retail, IT & telecommunications, consumer goods, media & entertainment, and others. IT & telecommunication sector dominates the global market owing to increase in durability of offices with co-working operators on the rent. In addition, based on space providers, the market is segmented into big brands and independent brands. The big brand’s segment is expected to witness higher growth in the global market owing to growth in adoption of hybrid places of work by the small & medium sized businesses in order to improve their talent & collaboration during the forecast period.
The flexible office market is driven by an increase in a number of small & medium enterprises across the world, followed by growth in self-employment with the freelance industry, rise in demand from corporates propelled by the expansion of companies through the opening of new branches. However, an outbreak of the COVID-19 pandemic may impact the market. Additionally, growth in the adoption of co-working spaces is a leading opportunity for market. Moreover, rise in global capitalization is a key trend for the market. Furthermore, reduce in investment by the different organizations is a major challenge for the global market.
Based on geography, the North-America holds major share in global flexible office market owing to the increase in number of co-working centers coupled with growth in number of other flexible office spaces across the region. The Asia-Pacific and Europe regions are anticipated to witness higher growth rate due to rise in disposable income, presence of large number of players in the flexible offices sector and significant rise in industrial investment in flexible workspaces over the forecast period. It is estimated that future of the global flexible office market will be optimistic as a result of surge in demand of corporate firms & self employment, rise in globalization coupled with progressive technological development during the forecast period.
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Global Flexible Office Market Analysis
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