Transparency Market Research delivers key insights on the global flexible workspace market. In terms of revenue, the global flexible workspace market was valued over US$ 6.3 Bn in 2019. It is expected to expand at a CAGR of ~16% from 2020 to 2030, reaching US$ 31.5 Bn by the end of the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global flexible workspace market.
The global flexible workspace market is broadly affected by several factors, including usage of premium latest infrastructural capabilities in flexible workplace or corporate houses by enterprises, and increase in awareness about flexible workspaces among enterprises. Thus, expanding application of flexible workspaces in different sectors is propelling the global market for flexible workspace.
Flexible Workspace Market: Dynamics
The adoption of new technologies and business strategies to reduce expenses of the enterprises is a growing trend. Companies are changing their business policies to expand and consolidate their position in competitive market conditions. Companies are also increasingly adopting flexible workplaces instead of traditional workspaces. They invest in the maintenance of IT infrastructure and systems in a traditional workspace; however, flexible workspace helps companies reduce overhead cost of maintenance, enable seamless networking and connectivity, and maintain cost-effective office space as per the team size.
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Startups and small & medium size enterprises are majorly adopting flexible workplace solutions to manage the initial cost of businesses and offer scalability in workplace solutions to increase their team size. Increasing awareness about flexible workspaces among enterprises is estimated to boost the demand for flexible workspace solutions during the forecast period.
Flexible Workspace Market: Prominent Regions
The flexible workspace market in North America is expected to expand during the forecast period, owing to presence of key market players, technological advancements, and growth of consumer spending in outsourced workspace solutions in the region. The flexible workspace market in Europe is projected to witness favorable growth during the forecast period, due to significant rise in industrial investment in flexible workspaces and increasing number of flexible workspace service providers in major countries such as the U.K. and Germany.
The Asia Pacific flexible workspace market is expected to be fastest growing during the forecast period, owing to the presence of a large number of players in the flexible workspace sector and increasing adoption of flexible workspaces among small and medium size businesses.
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Flexible Workspace Market: Key Players
Key players operating in the global flexible workspace market include BE Offices Limited, Bizspace Limited, Flexspace, Fora Space Ltd., IWG plc., JustCo, OfficeRnD Ltd, Servcorp Limited, Space&Co., Spaces, The Great Room Offices, The Working Capitol, Victory Offices Limited, WeWork Companies Inc., and WOTSO Limited.
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