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Flexible Office Comprehensive Market 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 team) and Region -Analysis of Market Size, Share and Trends for 2014 - 2019 and Forecasts to 2030
Flexible Office Comprehensive Market to surpass USD 161.2 billion by 2030, which is valued at 41.1 billion in 2021 at a compound annual growth rate of 16.40%.
A place where an organization carries out its day-to-day activities and businesses is known as an office or a workplace. It could be a self-owned building or a part of a building that is rented, owned, or leased. A flexible office or a shared office space is different from that of a traditional one in terms of layout as well as the environment. Flexible workplaces are not bounded by a specific physical location or a corporate environment. It offers budget-friendly solutions for enterprises with versatile space solutions. Fixed office space is equipped with phone lines, chairs, desks, and workers have usually been provided the facility of working from home and are called to offices for a period of a few hours per week or a month.
Flexible Office Comprehensive Market is expected to project a CAGR of 16.40% during the forecast period, 2021-2030
Its growing popularity among advertising and media agencies, technological startups, and companies are likely to increase its market growth. The rise in the number of startups and small and medium enterprises in the world is also likely to increase market growth. Increased self-employment in the freelance industry growing significantly, and the flexible workplace is also expected to grow during the forecasted period.
By type
the flexible office market can be segmented into private offices, co-working spaces, virtual offices, and others. Co-working operators are similar to service retailer operators that provide a space that cannot be produced on the internet. It has become a trend in past years and is likely to dominate the type segment.
By application
it can be classified into IT and communications, media and entertainment, retail and consumer goods, and others. The IT and communications sector is expected to dominate the segment due to the increased durability of offices with co-working operators on the rent.
Increased demand for corporate firms and self-employment to increase growth
The rise in the number of startups and small and medium enterprises in the world is likely to increase market growth. Increased self-employment in the freelance industry growing significantly, and the flexible workplace is also expected to grow during the forecasted period. Space allocation also helps in cost saving ad time efficiency which in turn propels the market. Additionally, the increased demand of corporate firms to acquire spaces on a rental basis is also increasing the market for flexible offices.
No safety of data and high operational cost hinder the flexible office market.
There are no such measures to ensure the safety of data and hence this acts as a hindrance in the market for flexible offices. High operational costs reduce the profit margins of SMBs which also reduces the growth. As a flexible office market is open to all cultures a culture clash threat can also be seen as an issue in the market that negatively impacts it.
Flexible Office comprehensive market: Regions
North America has the highest CAGR but the APAC region is likely to dominate this region within the forecasted period. Several co-working centers and an increased number of other flexible office spaces are expected to increase the growth in the APAC region. Additionally, increasing disposable income in the APAC region, European region, and North American region are also predicted to accelerate market growth.
Business Strategy, Key Product offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
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