Organizations and individuals lease flexible workspaces for periods shorter than traditional business office leases, including month-to-month rolling rentals, 12–24-month contracts, or personally tailored arrangements to meet the tenant’s needs.

New York, Oct. 18, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Flexible Workspace Growth Opportunities" - https://www.reportlinker.com/p06346914/?utm_source=GNW


Opportunities for flexible workspaces focus on property services and ICT solutions and services.

The maturity of the flexible workspace market, particularly in certain cities, in combination with the rapid rise of pandemic-related needs, has been driving market demand.

This trend is backed by the emergence of numerous start-ups and greater appreciation for industry incumbents that offer flexible workspaces as a real estate strategy.

The highly competitive market landscape caused by a low barrier to entry and a rapidly evolving competitive environment challenge operators to stay afloat.

The expectation-versus-service gap among occupiers and operators remains an issue, while occupiers still largely perceive flexible workspaces as a temporary solution.

Having an exclusive address does not resonate well with certain occupiers’ culture and expectations.

Furthermore, the security limitations of flexible workspaces limit the occupier profile that real estate offerings can accommodate.

The global flexible workspace market operates on a Space-as-a-Service (SPaaS) business model.

Flexible SPaaS enhances the user experience through convenience, comfort, and flexibility.

This approach has led to a surge in co-living and co-working spaces.

Reduced expenditure, flexibility in lease periods, modern amenities and trendy services, and maintenance-inclusive assets (e.

g.

, lighting and air-conditioning) drive the adoption of this business model.

The development of flexible workspaces reflects the changes in and maturity of office stock, varying across countries and cities.

In addition, a city’s occupant profiles influence flexible workspace needs and progress.

The strong uptake of seats and flexible workspaces signals customers’ confidence in both the flexible workspace concept and in operators, despite varying long-term office leasing plans across organizations and cities.

Asset owners and landlords are aware of the value propositions flexible workspaces offer; this is evident from their readiness to lease office space to flexible workspace operators.

Some asset owners also offer flexible workspace solutions as part of their services.

The outlook for the global flexible workspace market is optimistic for 2022. The hybrid working and work near home (WNH) value proposition; increasing partnerships between various industry stakeholders; growing interest in workspace modernization through technology adoption; and rising emphasis on environmental, social, and governance (ESG) values will contribute to market growth during the next five years.

Author: Janice Wung
Read the full report: https://www.reportlinker.com/p06346914/?utm_source=GNW

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