Global Flexible Office Market Size to Reach USD 118.12 Billion by 2032

27-Mar-2024 | Facts and Factors

Facts and Factors Market Research has published a new report titled “Flexible Office Market Size, Share, Insights Report By Offerings (Virtual Offices, Private Offices, Co-working Spaces, and Others), By Space Providers (Independent Brands, Big Brands), and By Application (IT & Telecommunications, Retail & Consumer Goods, Media & Entertainment, and Others), and By Region – Global Industry Analysis, Emerging Trends, Demand and Forecast Report 2024 – 2032”. According to the report, the global flexible office market is anticipated to be valued at approximately USD 38.74 billion in 2023 and is projected to hit a revenue of around USD 118.12 billion by 2032, at a CAGR of around 13.19% between 2024 and 2032.

Flexible office space is the best option for traditional office solutions. It has the ability to provide affordable solutions for companies along with the probability of enforcing versatile space solutions. A flexible workspace is also referred to as either shared office space or flexi space. This kind of office space is fixed with basic equipment such as phone lines, chairs, desks, and a setup that helps employees usually working from home to have the experience of working in a physical office simulation for a few hours a week or month.

Browse the full “Flexible Office Market Size, Share, Insights Report By Offerings (Virtual Offices, Private Offices, Co-working Spaces, and Others), By Space Providers (Independent Brands, Big Brands), and By Application (IT & Telecommunications, Retail & Consumer Goods, Media & Entertainment, and Others), and By Region – Global Industry Analysis, Emerging Trends, Demand and Forecast Report 2024 – 2032” Report at https://www.fnfresearch.com/flexible-office-market

Moreover, space allocation in flexible workspaces alters. This helps in the optimization of cost-benefits and time-efficient solutions like hot-desking or mobile working for the business.

Rise in the number of startups & SME’s to spur the market growth

The growing trend of setting up small-scale & medium-scale firms along with the establishment of startup firms in key cities will contribute substantially towards the overall market surge during the forecast period. Apart from this, the need for a flexible workplace has increased for startups across both developing as well as developed regions and this will prompt the market demand over the forecast timeline.

Moreover, the rise in self-employment with freelance industry growth gaining momentum over the past few years is predicted to boost the market scope. In addition to this, a major chunk of demand for flexible offices from giant corporate firms is expected to have a huge impact on the expansion of the market over the forecast period. Apparently, corporate firms are in search of agile locations and hence are trying to acquire flexible spaces on a rental basis.

Co-working spaces to dominate the offerings segment

The growth of the segment is attributed to the exploration of vertical integration avenues as well as the formation of partnerships in co-working spaces. Apart from this, the widespread trend of co-working in the last few years along with its acceptance in developed countries will amplify the segmental development over the forecast period.

In addition to this, low rent of spaces and a large number of tenants opting for flexible spaces landowners are reexamining or reconsidering the option of launching co-working spaces. This will further push the segmental growth over the forecast timeline.

Retail & consumer goods segment to record the highest CAGR over the forecast period

The retail & consumer goods segment is projected to register the highest CAGR of approximately 13.19% over the forecast timeline. The growth of the segment is credited to the longevity of service-oriented retail features. Moreover, retail service providers or retail operators have long-term liabilities along with short-term cash flows. Both the retail service provider & retail operators offer a flexible space to the users. This will prompt segmental growth over the forecast timeline.

Europe to dominate the regional market revenue share during the forecast period

The growth of the market in the region is credited to the low costs of flexible offices in countries like the UK, France, and Germany. Apart from this, the presence of giant players like Regus & Servcorp in the region will further boost the regional market growth trends.

Report Scope

Key players involved in the flexible office industry include Greendesk LLC, Davinci Virtual LLC., Croissant Inc., Alley, WeWork Companies Inc., THEOFFICEGROUP, TechSpace, ShareDesk, Servcorp, Serendipity Labs, Regus Group Companies, Office Freedom Limited, LiquidSpace Inc., JustCo, Instant, Hubble, and Others..

This report segments the flexible office market as follows:

By Offerings Segment Analysis

• Virtual Offices
• Private Offices
• Co-working Spaces
• Others

By Space Providers Segment Analysis

• Independent Brands
• Big Brands

By Application Segment Analysis

• IT & Telecommunications
• Retail & Consumer Goods
• Media & Entertainment
• Others

Global Flexible Office Market: Regional Segment Analysis

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa

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