Research Nester published a report titled “Flexible Space Market: Global Demand Analysis & Opportunity Outlook 2019-28” which delivers detailed overview of the global flexible space market in terms of market segmentation by type and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global flexible space market is segmented on the basis of type into flexible office space and flexible warehouse space, out of which, the flexible office space segment is anticipated to hold the largest market share and further attain a revenue of USD 38150 Million by the end of 2028. The flexible office space segment can further be divided into office type, room service and end-user vertical. The office type can again be divided into service office, virtual office, managed office, co-working, remote office, and others, out of which, 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.
The global flexible space market is anticipated to grow with a CAGR of 16.76% during the forecast period, i.e., 2020-2028, owing to the increasing number of business organizations worldwide, along with the increasing need of businesses to expand their operations beyond their local geographies. Moreover, the market is also anticipated to grow on account of the growing e-commerce industry, which is raising the need amongst the logistic operators to adopt large warehouses. The market, which attained a market revenue of USD 27860 Million in 2019, is further projected to reach a value of USD 41069 Million by the end of 2028.
Geographically, the global flexible space market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, the market in the North America is anticipated to hold the largest market share of 34.10% in the year 2028, owing to the rise in demand for commercial spaces in secondary and tertiary cities, backed by the increasing cost of commercial spaces and the need to reduce commutation time of the employees. The market in the region is further anticipated to attain a market revenue of USD 14005 Million by the end of 2028.
Rise in the Number of Business Organizations Worldwide to Drive the Market Growth
The United States Census Bureau, in one of its statistics, stated that in the United States, the total number of firms, establishments and employment, grew from 5,734,538, 7,396,628, and 111,970,095 numbers respectively in the year 2010 to 5,996,900, 7,860,674, and 128,591,812 numbers respectively in the year 2017.
The number of business organizations has surged at a significant rate in the recent years. As a result, there is a growing demand for commercial spaces amongst the business organizations so as to be able to operate their businesses. Moreover, backed by the growing need to reduce the commutation time of the workers, and owing to the increasing concern for the rising prices of commercial spaces, businesses are increasingly opting for spaces which are located far from the metropolitan cities. Such factors are anticipated to drive the growth of the global flexible market during the forecast period.
However, the growing preferences for remote working is one of the major factors expected to operate as key restraint to the growth of the global flexible space market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global flexible space market for flexible office space which includes company profiling of 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. The report also includes details of the prominent industry leaders in the market for flexible warehouse, which include Cubework, STORD, Inc., Ware2Go Inc., Flowspace, Inc., Stowga (Warehousio Ltd.), Clutter, Inc., FLEXE, Inc., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global flexible space market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.