Monday, May 11, 2020

China Flexible Workspace Market Eyeing Consolidation, as WeWork takes on Ucommune: Ken Research

The growth in the market will be driven by growth in the IT and Finance sectors as the major occupiers of flexible workspace in China. The IT sector and the Finance sector in China have been growing with a rate of 27.4% and 7.5% respectively in 2019.
      • It is expected that during the forecast period 2019-2025F, the flexible workspace market in Chengdu, Guangzhou, and Hong Kong on the basis of supply will grow with a CAGR of 15.1%, 15.1%, and 14.4% respectively.
      • Emergence of new regional players such as Hi-Coffee in Chengdu and Compass Office and Garage Society in Hong Kong is driving the supply of flexible workspaces in these cities.
      • It is expected in the coming years; companies are going to shift their focus from rental to non-rental revenue streams such as Business Concierge, Accounting, HR, payroll and Task Management services, and others in order to bring profitability and sustainability in business. This is the turn will drive the demand for flexible workspaces by enterprises and MNC's to save costs or provide mobility for staff.
In-Organic Growth: Flexible workspace operators with heavy financial backing have been following the strategy of mergers and acquisitions in order to expand their regional presence. For instance, Ucommune has acquired 6 flexible workspace operators in 2018 and WeWork acquired NakedHub in 2018 because of which it expanded to 23 new locations in China.
Increase in Enterprise Demand: There has been a rise in demand for flexible workspace by enterprises that are looking for customized office solutions on flexible terms. Enterprises are following the 'hub and spoke' model wherein the corporate head office acts as a hub and flexible workspaces act as spokes.
Movement from Asset Heavy to Asset Light Model: Flexible Workspace Operators are shifting focus from the lease model to asset a light model such as joint venture revenue sharing with landlords, franchise model, and management model. Companies such as Ucommune and MyDreamPlus promote the asset-light model and loss-making SOHO 3Q sold 11 asset-heavy locations and plans to expand using the asset-light strategy.
The report titled "China Flexible Workspace Market Outlook to 2025 - Driven by Rising in Co-working Supply and Shift towards Non-Rental Revenue (Concierge, Accounting, HR, payroll and Task Management services)" by Ken Research suggested that the China Flexible Workspace Market has been increasing due to rising business travelers, changing business strategies, growth in finance and IT sector, expansion in tier 2 cities, an increasing number of localized operators, increasing average center size and increasing demand from MNC's and well, known local companies. The market is expected to register a positive CAGR of 13.7% and 15.4% in terms of supply and demand respectively during the forecast period 2019-2025F.
Key Segments Covered: -
By Type of Flexible Workspace
Serviced Spaces
Hybrid Spaces
Co-Working Spaces
By City
Shanghai
Beijing
Shenzhen
Hong Kong
Chengdu
Guangzhou
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:
Flexible Workspace Operators
Ucommune
Regus
 WeWork
MyDreamPlus
Distrii
Kr Space
SOHO 3Q
The Executive Centre
People Squared
Compass Office
Servoffice
Atlas Workspace
Key Topics Covered in the Report: -
Need and Pain Points Leading to Emergence of Flexible Workspace Industry in China
Existing Gaps in China Flexible Workspace Market
Value Chain Analysis
Emerging Business Model
Revenue Streams
Organizational Structure of Flexible Workspaces
Marketing Strategies
Supply-Demand Analysis and Supply-Demand Gap Analysis, 2016-2019
Competitive Landscape in China Flexible Workspace Market
Supply-Demand Analysis and Supply-Demand Gap Analysis, 2019-2025F
Success Case Study
Analyst Recommendation
For More Information, Refer to Below Link: -
Related Reports by Ken Research: -
Contact Us: -
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
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Location: India

Could entry of Dental Insurance Provider solve the problem of oral awareness & accessibility in India: Ken Research

There is a dire need for upgrading dental infrastructure to improve accessibility and affordability by the poor in India looking at the statistics released by National Health Profile 2019 and WHO through various publications. At ground level, an inadequate number of doctors per population (1:10,926) and no standardization of dental treatment prices across cities have been restricting the penetration of dental care.
Why there is no Standalone Dental Insurance Company in India?
In 2015, Ocare, a Mumbai based company, was the first-ever company to launch dental insurance products in association with ICICI Lombard & New India Assurance. However, owing to scalability challenges & regulations by IRDA, the partnership couldn't succeed and Ocare decided to pause its operations. In December 2017, Ocare applied for a license as a Standalone Health Insurance Provider and to date (Jan 2020), is awaiting the same.
'Lack of data collection by dentists, fragmented nature of dentistry practice and lack of financial inclusion was the common challenges faced by us back in 2016', said Dr. Neeraj Sheth, Founder and Group Director at Ocare talking to Ken Research, India. He further emphasized on the bureaucratic challenges being currently faced by the company to obtain necessary licenses before launching their products.
Where does India stand today?
With marketing efforts from Chain clinics coming up in top cities of India, the population is becoming aware of the need to maintain oral care and undergo preventive treatment on a regular basis. Introduction of government schemes such as Ayushman Bharat Yojana, eDant Seva, etc. are welcoming steps aimed at affordable and accessible healthcare. Yet, there is still a long way to meet the standards set by developed regions.
Is it the right time to enter Dental Insurance in India?
"Mismatch between demand and supply of dental services and non-existence of such product to date paves the way for the entry of Dental Insurance because demand is there", said Dr. Sheth. During its operations in 2016-17, Ocare received tremendous response from dentists and sold more than 100,000 policies. In popular health insurance plans such as Apollo Munich Maxima Plan, Bharti AXA Smart Health, dental treatments find limited coverage and do not cover routine treatment charges.
It is expected that the existence of India dental insurance products would prompt customers from top cities of Bangalore, Chennai, Delhi NCR, and Mumbai to pursue preventive treatment over sick treatment. Higher adoption rates could also bring in the innovative technology and dental medical equipment capable of detecting fatal diseases such as Oral Cancer at early stages.
Companies Mentioned: -
Chain Clinics
Clove Dental
Apollo White Dental
32 Dental
Sabka Dentist
Axiss Dental
Health Insurance Companies
Apollo Munich
Max Bupa
ICICI Lombard
Bharti AXA
LIC
Bajaj Allianz
Dental Insurance Company
Ocare
Key Topics Covered in the Report: -
Number of Chain Clinics in India
Number of Dental Surgeons registered with Dental Council of India
Role of Chain Clinics Dental Insurance in India
Business Model of Clove Dental
India Healthcare Sector Growth
Number of Dentists in India
Latest Updates Dental Council of India
Coverage Dental Insurance India
Comparison of Top 6 Health Insurance Providers in India
Indian Healthcare Industry Size in USD Million
Number of Medical Colleges and Doctors in India
Major Health Insurance Companies in India
For More Information, Click on the Link Below: -
Related Reports by Ken Research: -
Contact Us: -
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249
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Friday, May 8, 2020

Increasing Demand for Co-Working Office Space & PropTech taking Speed in Vietnam to drive the Country’s Real Estate Space: Ken Research

The report covers various aspects including introduction of the Vietnamese real estate market, macroeconomic overview, Vietnam and regional office, hotel, retail and the residential market coverage (including current and future supply, demand, gap analysis, rental and occupancy rate), snapshots for Vietnam industrial and co-working market, major growth drivers, trends and developments, issues and challenges, regulatory landscape and competitive landscape and future outlook of Vietnam real estate market. Major players include Vietcom Bank, Deutsches Haus, Diamond Plaza, Vincom Centre, Rever.vn, Emerge and Ohana.vn.
The Co-working Supply (in NLA) within Vietnam is expected to grow with a CAGR of 23.0% during 2018-2025 therefore, indicating potential of co-working space in Vietnam due to increasing number of international players entering the Market.
Da Nang retail market supply is expected to show the highest growth along with a projected CAGR of 17.0% during 2018-2025, particularly in the districts of Thanh Khe, Hai Chau and Son Tra regions. PropTech is the future technology that will disrupt the Real Estate Market in Vietnam, buy creating a smart ecosystem of connected technology and online real estate services.
Global Brands Flock to Vietnam Co-Working Market: The co-working business in Vietnam has come under spotlight by global brands and the market is becoming competitive as brands offer service innovations and new revenue streams contained within one property. Recently Vietnam’s potential for the Co-Working business has become evident to global brands. Brands such as Toong, Regus, WeWork and others have started entering Vietnam indicating the scope of the Co-Working business. Major Co-working Brands such as Toong offer 7 co-working spaces across Ho Chi Minh City and Hanoi regions; and Regus Co. offers 8 co-working spaces in both cities. Vietnam is expected to have more co-working spaces in the coming future.
Da Nang’s Real Estate Market - The Upcoming 3rd Business Centre:  Da Nang region has showcased strong potential over the years and has become a business center in Vietnam. In terms of real estate, the market has witnessed strong growth over the years. Its population size has been rising at a CAGR of 1.8% from 2013-2018 and will become a strong source of demand. The office real estate supply (in NLA) is expected to grow at a CAGR of 8.9% and the retail supply is expected to grow at a CAGR of 17.0% during 2018-2025. Also, the total number of hotel rooms in Danang region was estimated to grow at a forecasted CAGR of 8.5% during 2018-2025. These statistics indicate the potential that Da Nang region has to offer as an upcoming business center in Vietnam.
PropTech, the upcoming Disruptive Technology in the Vietnam: PropTech basically refers to technology that is aimed at the real estate industry and attempts to change the way people buy, sell, finance and manage property. It helps property developers and real estate businesses to make changes and adapt to a new generation of customers via internet, building brands and then directing their products to the right targeted buyers. Technologies used include using 3D / VR in creating floor plans, block-chain in real estate, technology in construction, drones in real estate industry, environmental sensors, property classifieds, co-working spaces, smart cities and others.
The report titled “Vietnam Real Estate Market Outlook to 2025 – By Office Real Estate Market (Grade A, Grade B and Grade C), By Retail Real Estate Market (Retail Podiums, District Centers and Shopping Centers), By Residential Real Estate Market (Apartment, Villas, Condominiums and Others), and By Hotel Real Estate Market (3 Star, 4 Star, 5 Star and Other Hotels)” by Ken Research suggested that the Real Estate Market in Vietnam is growing and carries major potential in each of its sub segments. The government’s policies favoring the real estate market such as the Housing Law and the Law on Real Estate Business coupled with the dynamics of global trade causing companies to migrate away from China to Vietnam driven by Vietnam’s low cost land and labor forces, will elevate Vietnam’s Real Estate Market to greater heights. Vietnam’s office market supply (in NLA), retail market supply (in GLA), residential market supply (in units) and hotel market supply (in total number of keys) is projected to grow by a CAGR of 5.7%, 9.9%, 15.4% and 8.1% respectively over the forecast period 2018-2025 thus, showcasing the potential of real estate in Vietnam in the near future.
Key Segments Covered:-
Vietnam Office Real Estate Market
By Type:
Grade A Office
Grade B Office
Grade C Office
By Geography:
Vietnam
Ho Chi Minh
Hanoi
Vietnam Retail Real Estate Market:-
By Location:
CBD (Central Business District)
Non CBD (non central business district)
By Type:
Retail Podium
Department Store
Shopping Center
By Geography:-
Vietnam
Ho Chi Minh
Hanoi
Vietnam Residential Real Estate Market:-
By Type:
Apartments
Condominiums
Villas and Townhouses
By Geography:
Vietnam
Ho Chi Minh
Hanoi
Vietnam Hotel Real Estate Market:-
By Type:
3 Star Hotels
4 Star Hotels
5 Star Hotels
Others (Less than 3 Star Hotels)
By Geography:
Vietnam
Ho Chi Minh
Hanoi
Key Target Audience:-
Real Estate Developers
Independent Investors
Real Estate Consulting Companies
Third Party Real Estate Companies
Independent Architects
Government Associations
Government Agencies
Time Period Captured in the Report:-
Historical Period – 2013 - 2018
Forecast Period – 2019F – 2025F
Case Studies Covered:-
Vietcom Bank
Deutsches Haus
Diamond Plaza
Vincom Centre
Rever.vn
Emerge
Ohana.vn
For more information on the research report, refer to below link:-
Related Reports:-
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
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