Changing Working Patterns, Increasing Customization Bolster Growth of Global Flexible Workspace Market

Published Date : May 02, 2017

ALBANY, New York, May 2, 2017 – has recently announced the addition of its report titled, “Global Flexible Workspace Market: Size, Trends & Forecasts (2017-2021)” to its offering. The report deals with the crucial aspects of the market including catalysts, deterrents, recent developments, and trends.

The progress of the major companies operating in the market has also been mapped. The key business strategies, product portfolios, and market shares of the leading players have been discussed in depth in the report. The report also offers key insights on the value chain reports, market attractiveness, and an assessment of the leading segments of the market in terms of geography.

By geography, the U.K. and the U.S. are the key segments of the flexible workspace market. The global market for flexible workspace can be classified by presence and ownership. The ownership segment can further be segmented into shared flexible workspace and private flexible workspace. By presence, virtual and physical workspaces can be the key segments of the global market for flexible workspace.

Flexible working patterns, cost reduction, changing patterns of working, increasing GDP, uncertainty of economic environment, and variable property costs have been some of the prominent growth drivers of the global market for flexible workspace. On the flip side, issues related to privacy, security, and culture clashes might impede the growth of the market for flexible workspace.

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Today, customization, diversity, and flexibility are replacing the previous value propositions such as privacy, cubicles, and separation. The present developments give us a glimpse into the future where spaces could be consumed as a service, becoming more customizable for enhanced user productivity. Each day, new kinds of office providers are flooding the workspace market, allowing a plethora of options for customers to choose from.

Users of modern-day workspaces are rapidly undergoing transformation. Self-employment, portfolio career, and startups are increasingly characterizing the workspace market, necessitating the acknowledgement of new needs of clients. As a result, both small and large companies are finding innovative ways to accommodate this diverse, and sometimes disconnected workforce. Workspace providers should be capable of offering solutions that incorporate aspects of both, work-style and lifestyle, as the line between the two blurs increasingly.

In the U.S., the rise of the contingent workforce as well as adoption of flexible workspace by corporate companies has been driving the growth of the flexible workspace market. Co-working has increased considerably, along with a combination of co-working spaces and executive suites. Washington DC and San Francisco are expected to emerge as the leading regions in the U.S. Other cities, such as San Antonio, San Jose, and Portland are slated for significant growth over the forthcoming period, accelerating the expansion of the flexible workspace market in this region.

Bizspace Ltd (Verde Partners), WeWork Cos Inc., IWG Plc., and Servcorp are some of the major companies operating in the global market for flexible workspace mentioned in the report.

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