The global flexible space market is anticipated to grow with a CAGR of 16.76% during the forecast period, i.e., 2020-2028.
The market, which registered a revenue of around USD 28000 Million in 2019, is further projected to reach a value of close to USD 41000 Million by the end of 2028.
The concept of flexible space is evolving and it includes a range of office solutions, such as, co-working spaces, private offices, meeting rooms and executive suites among others. These spaces often include numerous amenities ranging from Wi-Fi connectivity to coffee vending machines.
Factors such as the rising number of business entities worldwide, coupled with the expanding e-commerce industry, are anticipated to drive the market growth. Moreover, growing trends of 'Space-as-a-Service' and the rising costs of commercial spaces in major metropolitan cities are further projected to drive the market growth.
The global flexible space market is segmented by type and by region. On the basis of type, the market is further divided into flexible office space and flexible warehouse space. Out of these two segments, the flexible office space segment is projected to hold the largest market share throughout the forecast period. The segment is further expected to gain a value of about USD 38000 Million by the end of 2028.
The flexible office space segment is further divided into office type, room service and end-user vertical. The office type segment can further be segmented into service office, virtual office, managed office, co-working, remote office, and others. Out of these segments, the virtual office segment is anticipated to hold the largest market share and reach a market value of USD 4271 Million by the end of 2021.
Amongst the market in these regions, the North America flexible space market is anticipated to hold the largest market share of around 34% in 2028. The market in the region is further projected to cross USD 14000 Million by 2028.
Some of the major industry players in the global flexible space market for flexible office space are WeWork Companies LLC, Jones Lang LaSalle, IP, Inc., IWG plc, Colliers International Property Consultants, Inc., Deskpass Corporation, LiquidSpace, Inc., Davinci Virtual, LLC, JustCo Management Pte. Ltd., Techspace, and others.
Additionally, some of the other key players in the market for flexible warehouse space are Cubework, STORD, Inc., Ware2Go Inc., Flowspace, Inc., Stowga (Warehousio Ltd.), Clutter, Inc., FLEXE, Inc., and others.
Key Topics Covered:
Flexible Space Market
2. Research Methodology
3. Executive Summary- Global Flexible Space Market
6. Impact of COVID-19 on the Flexible Space Market 6.1. Impact on the overall market 6.2. Impact on the demand 6.3. Impact on the end-user spending 6.4. Impact on the key market players 6.5. Impact on overall price trend
7. Vendor Analysis
8. Comparative Analysis
9. Analysis on the Subscription Model
10. Assessment on service providers 10.1. Global service providers 10.2. Regional service providers