Flexible Office Market Size, Trends and Insights By Type (Coworking space, Private offices, Virtual offices, Others), By Application (Media and entertainment, It and communications, Retail, Consumer goods, Others), By Space Provider (Independent brands, Big brands), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- Alley
- ShareDesk
- Davinci Virtual
- Green desk
- Others
Reports Description
According to Custom Market Insights (CMI), The Global Flexible Office Market Size was valued at USD 54.10 billion in 2021 and is expected to reach USD 70.32 billion in 2022 and is estimated to reach USD 200.14 billion by the end of 2030 at a CAGR of approximately 19.16% during the forecast period 2022-2030.
The face of the office has been altered tremendously with the option of a flexible office market by numerous companies worldwide. The recent trend of flexible offices has been adopted to enable the workers and employees to carry on their functioning from their comfort zone, which helps maintain the employees’ safety. Many industries readily adopted this pattern worldwide during the pandemic outbreak when it was extremely unsafe for people to come out of their homes and visit the office spaces by traveling long distances where they had a tremendous risk of countering the infection.
The governments of many countries all over the world imposed various rules and regulations on the industries and the people by implementing lockdowns and restricted movement to prevent the further spread of the infection and control the number of casualties. This step taken by the government boosted the implementation of flexible office patterns among numerous countries, which helped the market record considerable revenue over time. This step taken by many companies has helped to stabilize the economy and, at the same time, maintain safety by preventing a huge number of people who visit the office spaces for work.
On the other hand, a few industries faced difficulties adopting the flexible office pattern of the type of business they carried out, which could not survive during the pandemic. Thus, the flexible office market faced an obstacle in these industries, and hence the growth was slowed to a certain extent.
Growth Factors
The huge number of startups launched during the pandemic became the major market for the flexible office pattern, which was adopted to carry out the business without being exposed to the infection and hence keep the market running to sustain the course of the pandemic. Furthermore, the increasing fashion of hiring office spaces by taking them on rent has helped the flexible office market record considerable revenue over time, which helped many companies save a huge amount that would have been blocked if they opted for private office spaces.
The total expenditure and time spent on owning a private office space will be saved with the help of a flexible office pattern which will help the company conserve a huge amount of money. In addition, the freelancing industry emerged as another growth factor for the flexible office market as it employed numerous individuals worldwide by enabling them to work within their comfort zone with the help of digital devices and internet connectivity.
The increasing fashion of outsourcing services has also greatly boosted the market for flexible offices, increasing the demand for coworking office patterns. As a result, medium and small enterprises worldwide have emerged as the major market players and consumers who have helped during the growth phase of the flexible office pattern, which has become the recent trend in the market.
During the post-COVID phase, many companies worldwide continued with the flexible office pattern as it proved more profitable for the industry and emerged as an effective cost-cutting step that helped the market record considerable revenue over time. These multiple reasons will emerge as the growth factors for the flexible office market during the forecast period.
Segmental Insights
Segmentation of the flexible office market based on Type
Based on Type, the coworking space segment has emerged as the largest market due to the increasing demand for this working pattern among most companies. Many companies worldwide are leasing workspaces for coworking which is quite innovative compared to the traditional practice of offices.
Many global investors are encouraging this working pattern by forming partnerships to help integrate the various workforces available in the market. In recent years, which also includes the period of the pandemic, the design of coworking was adopted extensively among many multinational companies all over the world, which helped them to continue the functioning of the business and hence helped them to sustain during the period of the pandemic.
The fashion of private offices has shown steady growth over the period but is not expected to project tremendous growth due to the increasing adoption of coworking spaces.
On the other hand, the trend of virtual offices has increased with the increasing use of the internet and digitization, which has encouraged people to save time and money by creating virtual platforms that help to carry out the functioning of the business without owning an actual place for work.
A virtual platform allows the company explore the work field better by providing the employees with a comfortable environment that suits their needs and demands. This also encourages the company to save a huge amount on delivering various basic facilities for the employees, including equipment, devices, and electricity. Furthermore, the organization of social gatherings in the corporate sector leads to a huge expense which can also be saved with the help of a virtual platform.
Segmentation of the flexible office market based on Application
Based on Application, the segment of IT and communication has emerged as the largest segment due to the rapid adoption of flexible office patterns by this sector which helps it to maintain its position at the top under this category. The increasing fashion of coworking, which most multinational companies have adopted, has helped the market record considerable revenue over time. The IT sector is well equipped with the internet and devices, which makes it extremely easy for them to carry out their business over the devices, which enables them to adopt the flexible office pattern readily.
The IT and communication sector has emerged as a very successful market as far as flexible office pattern is concerned due to the rapid adoption of coworking patterns. The other segments included under this category are media and entertainment, which have adopted flexible office patterns by collecting the necessary information and data in the digital format, which is then processed and produced as per requirement.
The consumer goods segment has also grown tremendously over time due to potential consumers’ increasing home delivery trend. In addition, many retailers are adopting the fashion of digitization which has helped them to create flexible office patterns by supplying the necessary goods and services to potential consumers within their vicinity by carrying out the entire process over the devices with the help of the internet.
Segmentation of the flexible office market based on Space Provider
Based on space providers, the segment of big brands has emerged as the largest segment due to the huge demand for flexible office spaces among them. The part of big brands is expected to maintain its position in the future, owing to the increasing trend of hybrid works spaces.
To boost the industry’s growth by collaborating with various sectors under a single heading, the big brands are creating flexible office spaces, which helps them earn better profits in the long run. In addition, the rapid adoption of hybrid work patterns among the key market players has greatly boosted the flexible office market’s growth.
The other segments that have been included under this category are the independent brands which usually own the main hub, which helps to monitor the entire system and functioning of the business, which is then further divided into multiple coworking spaces, which allows them to carry out their functioning in various places. This segment of independent brands is also expected to contribute significantly to the flexible office market over the rapid adoption of flexible work patterns among the key market players to attract potential employees worldwide. In addition, the rising demand for nutrient-enriched food to aid overall health is expected to drive the market’s growth.
Report Scope
| Feature of the Report | Details |
| Market Size in 2021 | USD 54.10 billion |
| Projected Market Size in 2030 | USD 200.14 billion |
| CAGR Growth Rate | 19.16% CAGR (2022-2030) |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Prominent Players | Alley, ShareDesk, Davinci Virtual, Green Desk, Serendipity Labs, Croissant, Hubble, Instant, The Office Group, and Others |
| Key Segment | By Type, Application, Space Provider, and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors, and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfill your requirements for research. |
Regional Insights
Based on geography, the region of North America has emerged as the largest market for flexible offices during the forecast period. This is because rapid adoption has been observed as far as the office spaces are concerned, combined with the flexible coworking centers erected in numerous places within this region. Furthermore, the huge amount of disposable income available to the people makes it possible for them to create multiple work zones that will help keep the functioning of the sector running and hence increase the profit margin of the business to a great extent.
The region of Asia Pacific has also contributed significantly to the growth of the flexible office market due to the rapid adoption of flexible office nature and work zones, which have been allowed by multinational companies to attract potential employees. This pattern of working helps to assist the employee in accumulating a considerable amount of savings by reducing the total cost and expense that is made on transport and other facilities. The region of Europe has also contributed significantly to the growth of the flexible office market, which the government has supported by providing advanced facilities to the people.
Recent Developments
- In March 2022 – a collaboration took place between Stronger, a global women-focused tech, and We Work India. This deal was made to introduce Arise, which will prove to be a major opportunity for the female entrepreneurs of India as it will unlock various fields. The leading member of the association will be WeWork Labs, a global acceleration and incubation organization of work.
Key Players
- Alley
- ShareDesk
- Davinci Virtual
- Green desk
- Serendipity Labs
- Croissant
- Hubble
- Instant
- The Office Group
Segments covered in the report
By Type
- Coworking space
- Private offices
- Virtual offices
- Others
By Application
- Media and entertainment
- It and communications
- Retail
- Consumer goods
- Others
By Space Provider
- Independent brands
- Big brands
On the basis of Geography
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market research methodology
- Chapter 2. Executive Summary
- 2.1 Global Flexible Office Market, (2022 – 2030) (USD Billion)
- 2.2 Global Flexible Office Market : snapshot
- Chapter 3. Global Flexible Office Market – Industry Analysis
- 3.1 Flexible Office Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Increasing Fashion Of Hiring Office Spaces
- 3.2.2 Save A Huge Amount Of Money.
- 3.2.3 The Freelancing Industry
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market attractiveness analysis By Type
- 3.7.2 Market attractiveness analysis By Application
- 3.7.3 Market attractiveness analysis By Space Provider
- Chapter 4. Global Flexible Office Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Flexible Office Market: company market share, 2021
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Flexible Office Market – Type Analysis
- 5.1 Global Flexible Office Market overview: By Type
- 5.1.1 Global Flexible Office Market share, By Type, 2021 and 2030
- 5.2 Coworking space
- 5.2.1 Global Flexible Office Market by Coworking space, 2022 – 2030 (USD Billion)
- 5.3 Private offices
- 5.3.1 Global Flexible Office Market by Private offices, 2022 – 2030 (USD Billion)
- 5.4 Virtual offices
- 5.4.1 Global Flexible Office Market by Virtual offices, 2022 – 2030 (USD Billion)
- 5.1 Global Flexible Office Market overview: By Type
- Chapter 6. Global Flexible Office Market – Application Analysis
- 6.1 Global Flexible Office Market overview: By Application
- 6.1.1 Global Flexible Office Market share, By Application, 2021 and 2030
- 6.2 Media and entertainment
- 6.2.1 Global Flexible Office Market by Media and entertainment, 2022 – 2030 (USD Billion)
- 6.3 It and communications
- 6.3.1 Global Flexible Office Market by It and communications, 2022 – 2030 (USD Billion)
- 6.4 Retail
- 6.4.1 Global Flexible Office Market by Retail, 2022 – 2030 (USD Billion)
- 6.5 Consumer goods
- 6.5.1 Global Flexible Office Market by Consumer goods, 2022 – 2030 (USD Billion)
- 6.1 Global Flexible Office Market overview: By Application
- Chapter 7. Global Flexible Office Market – Space Provider Analysis
- 7.1 Global Flexible Office Market overview: By Space Provider
- 7.1.1 Global Flexible Office Market share, By Space Provider, 2021 and 2030
- 7.2 Independent brands
- 7.2.1 Global Flexible Office Market by Independent brands, 2022 – 2030 (USD Billion)
- 7.3 Big brands
- 7.3.1 Global Flexible Office Market by Big brands, 2022 – 2030 (USD Billion)
- 7.1 Global Flexible Office Market overview: By Space Provider
- Chapter 8. Flexible Office Industry – Regional Analysis
- 8.1 Global Flexible Office Industry Regional Overview
- 8.2 Global Flexible Office Industry Share, by Region, 2021 & 2030 (USD Billion)
- 8.3. North America
- 8.3.1 North America Flexible Office Industry, 2022 – 2030 (USD Billion)
- 8.3.1.1 North America Flexible Office Industry, by Country, 2022 – 2030 (USD Billion)
- 8.3.1 North America Flexible Office Industry, 2022 – 2030 (USD Billion)
- 8.4 North America Flexible Office Industry, by Type, 2022 – 2030
- 8.4.1 North America Flexible Office Industry, by Type, 2022 – 2030 (USD Billion)
- 8.5 North America Flexible Office Industry, by Application, 2022 – 2030
- 8.5.1 North America Flexible Office Industry, by Application, 2022 – 2030 (USD Billion)
- 8.6 North America Flexible Office Industry, by Space Provider, 2022 – 2030
- 8.6.1 North America Flexible Office Industry, by Space Provider, 2022 – 2030 (USD Billion)
- 8.7. Europe
- 8.7.1 Europe Flexible Office Industry, 2022 – 2030 (USD Billion)
- 8.7.1.1 Europe Flexible Office Industry, by Country, 2022 – 2030 (USD Billion)
- 8.7.1 Europe Flexible Office Industry, 2022 – 2030 (USD Billion)
- 8.8 Europe Flexible Office Industry, by Type, 2022 – 2030
- 8.8.1 Europe Flexible Office Industry, by Type, 2022 – 2030 (USD Billion)
- 8.9 Europe Flexible Office Industry, by Application, 2022 – 2030
- 8.9.1 Europe Flexible Office Industry, by Application, 2022 – 2030 (USD Billion)
- 8.10 Europe Flexible Office Industry, by Space Provider, 2022 – 2030
- 8.10.1 Europe Flexible Office Industry, by Space Provider, 2022 – 2030 (USD Billion)
- 8.11. Asia Pacific
- 8.11.1 Asia Pacific Flexible Office Industry, 2022 – 2030 (USD Billion)
- 8.11.1.1 Asia Pacific Flexible Office Industry, by Country, 2022 – 2030 (USD Billion)
- 8.11.1 Asia Pacific Flexible Office Industry, 2022 – 2030 (USD Billion)
- 8.12 Asia Pacific Flexible Office Industry, by Type, 2022 – 2030
- 8.12.1 Asia Pacific Flexible Office Industry, by Type, 2022 – 2030 (USD Billion)
- 8.13 Asia Pacific Flexible Office Industry, by Application, 2022 – 2030
- 8.13.1 Asia Pacific Flexible Office Industry, by Application, 2022 – 2030 (USD Billion)
- 8.14 Asia Pacific Flexible Office Industry, by Space Provider, 2022 – 2030
- 8.14.1 Asia Pacific Flexible Office Industry, by Space Provider, 2022 – 2030 (USD Billion)
- 8.15. Latin America
- 8.15.1 Latin America Flexible Office Industry, 2022 – 2030 (USD Billion)
- 8.15.1.1 Latin America Flexible Office Industry, by Country, 2022 – 2030 (USD Billion)
- 8.15.1 Latin America Flexible Office Industry, 2022 – 2030 (USD Billion)
- 8.16 Latin America Flexible Office Industry, by Type, 2022 – 2030
- 8.16.1 Latin America Flexible Office Industry, by Type, 2022 – 2030 (USD Billion)
- 8.17 Latin America Flexible Office Industry, by Application, 2022 – 2030
- 8.17.1 Latin America Flexible Office Industry, by Application, 2022 – 2030 (USD Billion)
- 8.18 Latin America Flexible Office Industry, by Space Provider, 2022 – 2030
- 8.18.1 Latin America Flexible Office Industry, by Space Provider, 2022 – 2030 (USD Billion)
- 8.19. The Middle-East and Africa
- 8.19.1 The Middle-East and Africa Flexible Office Industry, 2022 – 2030 (USD Billion)
- 8.19.1.1 The Middle-East and Africa Flexible Office Industry, by Country, 2022 – 2030 (USD Billion)
- 8.19.1 The Middle-East and Africa Flexible Office Industry, 2022 – 2030 (USD Billion)
- 8.20 The Middle-East and Africa Flexible Office Industry, by Type, 2022 – 2030
- 8.20.1 The Middle-East and Africa Flexible Office Industry, by Type, 2022 – 2030 (USD Billion)
- 8.21 The Middle-East and Africa Flexible Office Industry, by Application, 2022 – 2030
- 8.21.1 The Middle-East and Africa Flexible Office Industry, by Application, 2022 – 2030 (USD Billion)
- 8.22 The Middle-East and Africa Flexible Office Industry, by Space Provider, 2022 – 2030
- 8.22.1 The Middle-East and Africa Flexible Office Industry, by Space Provider, 2022 – 2030 (USD Billion)
- Chapter 9. Company Profiles
- 9.1 Alley
- 9.1.1 Overview
- 9.1.2 Financials
- 9.1.3 Product Portfolio
- 9.1.4 Business Strategy
- 9.1.5 Recent Developments
- 9.2 Sharedesk
- 9.2.1 Overview
- 9.2.2 Financials
- 9.2.3 Product Portfolio
- 9.2.4 Business Strategy
- 9.2.5 Recent Developments
- 9.3 Davinci Virtual
- 9.3.1 Overview
- 9.3.2 Financials
- 9.3.3 Product Portfolio
- 9.3.4 Business Strategy
- 9.3.5 Recent Developments
- 9.4 Green Desk
- 9.4.1 Overview
- 9.4.2 Financials
- 9.4.3 Product Portfolio
- 9.4.4 Business Strategy
- 9.4.5 Recent Developments
- 9.5 Serendipity Labs
- 9.5.1 Overview
- 9.5.2 Financials
- 9.5.3 Product Portfolio
- 9.5.4 Business Strategy
- 9.5.5 Recent Developments
- 9.6 Croissant
- 9.6.1 Overview
- 9.6.2 Financials
- 9.6.3 Product Portfolio
- 9.6.4 Business Strategy
- 9.6.5 Recent Developments
- 9.7 Hubble
- 9.7.1 Overview
- 9.7.2 Financials
- 9.7.3 Product Portfolio
- 9.7.4 Business Strategy
- 9.7.5 Recent Developments
- 9.8 Instant
- 9.8.1 Overview
- 9.8.2 Financials
- 9.8.3 Product Portfolio
- 9.8.4 Business Strategy
- 9.8.5 Recent Developments
- 9.9 The Office Group
- 9.9.1 Overview
- 9.9.2 Financials
- 9.9.3 Product Portfolio
- 9.9.4 Business Strategy
- 9.9.5 Recent Developments
- 9.1 Alley
List Of Figures
Figures No 1 to 25
List Of Tables
Tables No 1 to 77
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2030
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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Key Players
- Alley
- ShareDesk
- Davinci Virtual
- Green desk
- Serendipity Labs
- Croissant
- Hubble
- Instant
- The Office Group
- Others
FAQs
“North America” region will lead the global Flexible Office market during the forecast period 2022 to 2030.
The key factors driving the market are freelancing industry and outsourcing of services.
The key players operating in the Flexible Office market are Alley, ShareDesk, Davinci Virtual, Green desk, Serendipity Labs, Croissant, Hubble, Instant, The Office Group.
The global Flexible Office market is expanding growth with a CAGR of approximately 19.16% during the forecast period (2022 to 2030).
The global Flexible Office market size was valued at USD 54.10 billion in 2021 and it is projected to reach around USD 200.14 billion by 2030.