The global flexible workspace market is anticipated to grow at a CAGR of 14.0% during the forecast period. Flexible workspace refers to office space with numerous creative desk layouts. The key layouts include hot desks, open offices, and collaborative coworking spaces. Flexible workspace help accommodates different types of work arrangements, including freelancers, startups, remote workers, and even established companies. This type of arrangement has cost advantages compared to traditional office spaces. The presence of a large number of small companies and a growing number of new startups looking for temporary office solutions is creating favorable conditions for the growth of the market. Organizations are also starting to realize the importance of having a flexible office layout to increase productivity, encourage collaboration, and attract new talent in the long term. To cater to such demands market players are actively adopting different strategies such as acquisitions and mergers to remain competitive in the market.
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For instance, in December 2022, 3 major coworking brands merged to form a large operator of flexible workspaces in Asia-Pacific. The brands that are merging under one umbrella form The Flexi Group include The Hive, Common Ground, and The Cluster. With this merger, the Flexi Group will boast a portfolio of 45 locations across 12 cities and 9 countries including Hong Kong, Singapore, Malaysia, Australia, Thailand, Taiwan, Vietnam, the Philippines, and Japan. The new group will also offer holistic membership solutions for businesses of all sizes, ranging from typical coworking memberships to full-service enterprise and white-labeled management solutions. Such acquisitions and mergers help companies to expand their market share in the market. It helps in cost-saving, and streamlining processes, as merged companies can achieve cost efficiencies and improved operational effectiveness. Also, such strategies offer access to new markets or distribution channels thereby helping the market players to increase their consumer base and market reach.
Market Coverage
• The market number available for – 2022-2030
• Base year- 2022
• Forecast period- 2023-2030
• Segment Covered-
o By Ownership
o By Type
o By End User
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- including BE Offices Ltd., Bizspace Ltd., Flexspace, Fora Space Ltd., IWG plc., JustCo, OfficeRnD Ltd., and others
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Flexible Workspace Market Report Segment
By Ownership
By Type
By End User
Global Flexible Workspace Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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