Flexible Space Market Size & Share, by Type (Virtual Office, Co-Working Space, Manufacturing Space, Hot Desks, Private Offices); End-user (IT & Communication, Media & Entertainment, Manufacturing, Retail) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 3104
  • Published Date: Aug 04, 2023
  • Report Format: PDF, PPT

Flexible Space Market Size, Forecast, and Trend Highlights Over 2023 - 2035

Flexible Space Market size is estimated to reach USD 35.77 Billion by the end of 2035, growing at a CAGR of 17.76% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of flexible space was over USD 5.03 Billion. The market growth can be estimated by the rising trend among enterprises to outsource their operations to a third person rather than hiring a person to carry out the necessary jobs. Thus, resulting in improving the efficiency, and effectiveness of the business operations.

New players can enter the market more easily as a result of technological developments in the flexible space market. With the digital transformation companies are able to opt for flexible spaces easily, as all the data are saved on the cloud. Various growth and expansion strategies are used by companies for the adoption of flexible office spaces.

Flexible Space Market
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Flexible Space Market: Growth Drivers and Challenge

Growth Drivers

  • Increasing Numbers of Firms and Establishments; -Large corporations and firms are increasingly incorporating flexible space solutions into the firm’s establishments. By utilizing flexible spaces, these firms and corporations can provide project spaces or can create innovation hubs allowing alignment of workspaces with requirements. In addition, there are small firms that don’t want to invest a considerable amount in private office space, thus resulting in the increasing demand for flexible space. As per the data, there are more than 33 million small-scale businesses in the United States in 2022.
  • Surge in the Number of Collaboration and Community; - Flexible spaces for fostering collaborations and community building through a shared work environment. These often facilitate networking opportunities, community events, and industry-specific programs that bring professionals from various backgrounds together.
  • Increasing Requirement for Cost Efficiency and Financial Flexibility; - Traditional offices lease often come with high upfront costs and long-term commitments. In contrast, flexible spaces provide a cost-efficient alternative with flexible lease terms. 
  • Rising Trend of Freelancing – There are a large number of professionals that are not employed in one organization, and provide their services to more than one organization. Therefore, they require flexible space in order to provide service to a particular organization. According to a recent analysis, more than 1.5 Billion of the world’s workforce are working as freelancers.


  • Highly Competitive Industry-Flexible space market has become highly competitive with the entry of numerous providers. This saturation can make it challenging for individual providers to differentiate themselves and attract tenants. Standing out among the competition requires offerings unique value propositions, such as specialized industry-focused spaces, innovative amenities, or tailored services. Addressing these sorts of challenges requires strategic planning, continuous innovation, and a deep understanding of market dynamics. Providers that can effectively navigate these obstacles have the opportunity to thrive in a market and meet the evolving demands of businesses and professionals.
    Growing Preference for Remote Working
    Operational Challenges Associated with Space -As-A-Service Model.

Flexible Space Market: Key Insights

Base Year


Forecast Year



~ 17.76 %

Base Year Market Size (2022)

 ~ USD 5.03 Billion

Forecast Year Market Size (2035)

 ~ USD 35.77 Billion

Regional synopsis

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Flexible Space Segmentations:

Type (Virtual Office, Co-Working Space, Manufacturing Space, Hot Desks, Private Offices)

The co-working space segment in the flexible space market is anticipated to hold the largest share of 38 % by the end of 2035. There has been growing concept of co-working space among the increasing multinational companies. Whereas, they require people for different operations for a particular period in order to reduce their expenditure. Moreover, from the other perspective, employees with different knowledge work in a common space that helps them to improve their skills, and gain more knowledge from each other.

End Use Vertical (IT & Communication, Media & Entertainment, Manufacturing, Retail)

Flexible space market from the IT & communication segment is set to have a significant gain of 34 % in the upcoming years. There is a requirement for a large number of technical employees that needs flexible work pattern, in order to remain in their comfort zone.In addition, these areas have quiet areas, where employees can work without any disturbance.

Our In-depth Analysis of the global market includes the following segments:


  • Virtual Office
  • Co-Working Space
  • Manufacturing Space
  • Hot Desks
  • Private Offices

     End Use Vertical

  • IT & Communication
  •  Media & Entertainment
  • Manufacturing
  • Retail

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Flexible Space Industry- Regional Synopsis

North-America Market Analysis

The flexible space market in the North America is estimated the largest share of 30 % during the forecasted timeline. The growth of the market in the region can be attributed to the increased demand for commercial space from local enterprises in secondary and tertiary cities. For instance, the number of commercial buildings in the United States has increased by 5 % from 2012 to 2018. Businesses are deciding to expand into secondary and tertiary cities, a trend that is expected to boost the market significantly. Also, there has been a rise in the number of IT companies in the region that are open for flexible space. In addition, the rapid adoption of flexible work patterns by various organizations in the North America region is further poised to elevate the market’s growth in the region.

Asia Pacific Market Statistics

The flexible space market for flexible offices in Asia Pacific is projected to grow at a compound annual growth rate of over 4% during the forecast period. The Asia Pacific Flexible Office Market has remained strongly active in the last 12 months, albeit against a backdrop of political instability and uncertainties caused by COVID-19. The sector is in good shape to benefit from the shift of office strategies by firms throughout the region, based on recent research.

Research Nester
Flexible Space Market Size
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Companies Dominating the Flexible Share Market Landscape

    • The office groups
    • Business strategy
    • Key product offerings
    • Financial performance
    • Risk analysis
    • Recent development
    • Regional presence
    •  SWOT Analysis
    • We work
    • WOJO
    • Regus group
    • Mindspace
    • KNOTEL
    • Ordnung aps
    • Matrikel 1
    • Green desk
    • DBH business services


In The News

  • we work companies LLC announced that it has assigned an agreement with one leading real estate companies in Israel, Ampa group. The deal would allow WeWork to expand its operations in Israel.
  • jones Lang LaSalle, IP, INC. announced that it has signed a vested agreement with bp to transform its workplaces globally. JLL has been associated with bp for over a decade, and the deal would allow JLL to meet the Net Zero Carbon ambitions of the latter.

Author Credits:  Yashika Karodiwal, Radhika Gupta

  • Report ID: 3104
  • Published Date: Aug 04, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

growing rate of increasing security concerns in organizations along with the rising demand for digital document management.

The market size of flexible space is anticipated to attain a CAGR of 17.76 %over the forecast period, i.e., 2023 – 2035.

The major players in the market are We work, WOJO, Regus group, Mindspace, KNOTEL, Ordnung aps, Matrikel 1, Green desk, and others.

The co-working space segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in the North America region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Flexible Space Market Report Scope

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