Flexible office space is generally referred as flex-space. It is a contemporary style of office, which is designed to provide a dynamic workspace for the businesses, offering both private work rooms and communal areas. Flexible office comes fully equipped with necessary office equipment including desks, computers, chairs, and internet and phone lines. Flexible offices provide an ideal solution for flexible working that aims to support the employee’s need, for instance working part or full-time from home. The flexible working model is extensively used by many businesses who work to maintain productivity while accommodating the employee requirements for more flexible working arrangements. Additionally, flexible offices also allow freelancers to separate work and home life socialize hot-desk and network.
Some of the essential features of flexible offices include private & quiet workstations, open-plan spaces, and shared office facilities. Apart from this, few of the key benefits of flexible offices are maximum productivity, scalable, networking opportunities, quality building facilities, affordable and etc.
As per analysis, “Flexible Office Comprehensive Market” the key companies operating in the global flexible office market include Alley, Greendesk, Serendipity Labs, Davinci Virtual, The Office Group, Hubble, Croissant, Instant, ShareDesk, Office Freedom and among others.
Based on type, flexible office market is segmented as virtual offices, co-working space, private offices and others. Co-working space segment holds major share in global market due to ease of operation and cost reduction factors. Based on application, market is segmented as retail, media & entertainment, IT & communications, consumer goods and others. IT & telecommunication segment holds major share in the global market owing to increased durability of offices with co-working operators on the rent. In addition, based on space provider, market is segmented as independent team and big brands. Big brands segment is expected to exhibit considerable growth rate due to growth in adoption of hybrid places of work by the SMB’s in order to improve their talent & collaboration during the forecast period.
The flexible office market is driven by increase in adoption & popularity by various advertising or media agencies, followed by increase in self-employment with freelance industry, rise in the number of startups & small-medium enterprises, growth in demand for premium commercial flexible workplaces owing to prime location, smart office designs, network, and communication channels. Apart from this, high operational costs and data security issues are major hampering factors for market. Moreover, growth in expansion of major companies at the global level and increase in number of small & medium-sized enterprises are key opportunities for market.
By regional analysis, the North-America is the leading region in global flexible office market owing to rise in demand of corporate firms & self employment across the region. The Asia-Pacific and Europe regions are estimated to exhibit higher growth rate due to increase in disposable income of individuals over the forecast period. It is anticipated that future of the global flexible office market will be bright because of growth in number of co-working centers coupled with increase in number of other flexible office spaces during the forecast period.
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Ankur Gupta, Head Marketing & Communications