APAC Flexible Workspace Market Outlook to 2025

The report titled, “APAC Flexible Workspace Market Outlook to 2025- By Type (Hybrid Spaces, Serviced Spaces and Co-Working Spaces), By Country (China, India, Japan, Philippines, Australia, Vietnam, Singapore and South Korea) and By End Users (Enterprises, MSME’s/Start-Ups and Entrepreneurs/Freelancers)” provides a comprehensive analysis of the Flexible Workspace Market in APAC. The reports the flexible workspace industry in 19 cities including Shanghai, Beijing, Hong Kong, Chengdu, Shenzhen, Guangzhou, Bangalore, Mumbai, Delhi NCR, Pune, Hyderabad, Sydney, Melbourne, Seoul, Tokyo, Ho Chi Minh City, Hanoi, Metro Manila and Singapore based in 8 countries including China, India, Japan, Philippines, Australia, Vietnam, Singapore and South Korea. The report covers Supply and Demand Analysis along with Revenue streams, Value Chain, Emerging Business Models and Key Industry Trends. The report also focuses extensively on the Competition Scenario in the country wise and concludes with Future Scenario and analyst recommendations highlighting the key opportunities in the future.

APAC Flexible Workspace Overview and Size

The flexible workspace industry in APAC gained traction during the time frame 2016-2017 when the global market leader WeWork expanded in multiple geographies. The supply in the industry has been drastically growing during the period 2016-2019.  The industry has been evolving ever since its inception, with major trends in the industry being growing number of local players, changing amenity mix or amenitisation, increasing market consolidation, development of premium design workspaces at premium locations and increasing landlord participation.

APAC Flexible Workspace Market Segmentation

By Type of Flexible Workspace (Hybrid or Integrated Spaces, Serviced Spaces and Co-Working Spaces)

As of 2016, Hybrid or Integrated Spaces, Serviced Spaces and Co-Working Spaces almost had the equal contribution to the overall supply of flexible workspaces in APAC but in 2019, serviced spaces has grown to account for the highest market share to the overall supply.

By Country (China, India, Japan, Philippines, Australia, Vietnam, Singapore and South Korea)

In 2019, more than 60% of the total supply of flexible workspace in APAC was accounted by India and China. The supply in Vietnam, South Korea and Japan has been growing at the fastest pace during 2016-2019. The average centre size has been growing in all the countries with increasing demand from enterprises. In 2019, the average desk cost was highest in Hong Kong followed by Tokyo, Sydney, Melbourne, Beijing, Singapore and others.

By Type of End Users (Enterprise, MSME’s/Start Ups and Freelancers / Self Employed)

In 2019, the demand of flexible workspaces in APAC is dominated by the enterprises and the demand from the same has also been growing at the fastest pace. With changing business strategies and increasing focus on increasing employee satisfaction and productivity, large enterprises are following the hub and spoke model wherein the corporate head office becomes the hub and flexible workspace centers become spokes.

Competitive Landscape in APAC Flexible Workspace Market

The market is observed to be at a growth stage, with the competition been highly fragmented with presence of more than 2500 flexible workspace operators. IWG, WeWork, Servcorp, The Compass Office, The Executive Centre and JustCo are the major players operating throughout APAC. The supply of flexible workspaces in most of the countries is driven by local players. Operators are shifting towards joint venture models and management models.

APAC Flexible Workspace Market Future Outlook and Projection

APAC Flexible Space market is expected to register growth at double digit CAGR by space during 2019-2025F. This is owing to multitude of factors emergence of nomadic co-working spaces, increasing demand from enterprises, increasing number of niche co-working spaces, movement to tier 2 and tier 3 cities, increase in focus on non-rental revenue streams and change in IFRS Standards. Sydney, Hanoi, Ho Chi Minh City, Pune, Hyderabad, Chengdu and Guangzhou are expected to grow at the fastest pace by 2025.

Key Segments Covered:-

By Type of Flexible Workspace

Serviced Spaces

Hybrid Spaces

Co-Working Spaces

By Country

India

Bangalore

Delhi NCR

Mumbai

Pune

Hyderabad

China

Shanghai

Beijing

Shenzhen

Hong Kong

Chengdu

Guangzhou

Australia

Melbourne

Sydney

Japan

Tokyo

Singapore

South Korea

Seoul

Philippines

Metro Manila

Vietnam

Ho Chi Minh City

Hanoi

By End Users

Enterprises

MSME’s/Start Ups

Entrepreneurs/Freelancers

Key Target Audience:-

Flexible Workspace Operators

Office Brokers/Aggregators

Commercial Real Estate Companies

Venture Capitalist and PE Firms

Real Estate Consultant

Office Furniture Providers

ICT Providers

Time Period Captured in the Report:-

Historical Period – 2016-2019

Forecast Period – 2019-2025

Companies Covered in the Report:-

APAC Flexible Workspace Market

IWG

WeWork

The Executive Centre

Compass Office

JustCo

Servcorp

Local Players in India Flexible Workspace Market

Awfis Space Solutions

IndiQube

Smartworks

91Springboard

Innov8

Vatika Business Centre & Co-working Spaces

InstaOffice

Local Players in China Flexible Workspace Market

Ucommune

MyDreamPlus

Distrii

Kr Space

SOHO 3Q

People Squared

Atlas Workplace

Servoffice

Local Players in Japan Flexible Workspace Market

ZXY

WorkStyling

Cross Office

Business Airport

LIFORK

Mitsubishi Estate (BRANDS: Finolab, The Premium Floor, Inspired.lab, Global Business Hub, EGG JAPAN)

Expert Office

SENQ

Local Players in Australia Flexible Workspace Market

Victory Offices

WOTSO Workspace

Workspace365

Corporate House

Asia Pacific Serviced Offices

Hub

Space & Co.

Christie Spaces

Local Players in Singapore Flexible Workspace Market

The Work Project

The Great Room

Found8

ClubCo

Local Players in Philippines Flexible Workspace Market

KMC Co-working Space

Clock In

Common Ground

vOffice

Project T Solutions

A-Space

Local Players in Vietnam Flexible Workspace Market

Toong

Up Co-Working

G Office

Cogo Co-working

Dreamplex

eSmart

CirCo

Local Players in South Korea Flexible Workspace Market

FASTFIVE

SPARKPLUS

BIZSQUARE & MoA

GARAGE

Heyground

Key Topics Covered in the Report:-

Supply-Demand Analysis and Supply-Demand Gap Analysis, 2016-2019

Value Chain Analysis

Revenue Streams

Organizational Structure of Flexible Workspaces

Marketing Strategies

Supply-Demand Analysis and Supply-Demand Gap Analysis, 2019-2025F

Competitive Landscape in APAC Flexible Workspace Market

Emerging Business Model

Country Snap Shots (Demand-Supply Analysis and Detailed Competitive Scenario including Heat Map

Analysis, Market Share Analysis and Cross Comparison Analysis)

Success Case Study

Analyst Recommendation

For More Information, refer to below link:-

APAC Flexible Workspace Market

Related Reports:-

India Flexible Workspace Market Outlook to 2025- By Type (Hybrid Spaces, Serviced Spaces and Co-Working Spaces), By City (Bangalore, Mumbai, Delhi NCR, Pune and Hyderabad) and By End Users (Enterprises, MSME’s/Start-Ups and Entrepreneurs/Freelancers)

China Flexible Workspace Market Outlook to 2025 Driven by Increasing Investment in Technology and Shift in Focus towards Non Rental Revenue Streams