The report titled, “China Flexible Workspace Market Outlook to 2025 – Driven by Rise in Co-working Supply and Shift towards Non-Rental Revenue (Concierge, Accounting, HR, payroll and Task Management services)” provides a comprehensive analysis of the Flexible Workspace Market in China. The Report covers the pain points, the need, Supply and Demand Analysis along with Revenue streams, Value Chain and Key Industry Trends. The report also focuses extensively on the Competition Scenario in the country and concludes with Future Scenario and analyst recommendations highlighting the key opportunities in the future.
China Flexible Workspace Overview and Size
High occupancy cost for Prime Office Space, an Increase in the number of business entities and fluid business strategies led to the emergence of a flexible workspace market in China. Flexible Workspace operators in China have been constantly focusing on inorganic growth through acquisitions of smaller operators and businesses. This trend is slowly changing and there is an increase in focus on sustainability and profitability. The supply in China Flexible Space market has been growing at a double-digit CAGR by space during the period 2016-2019. The market has been growing with the competition being highly fragmented owing to the presence of more than 1500 co-working operators in the industry.
China Flexible Workspace Market Segmentation
By Type of Flexible Workspace (Hybrid or Integrated Spaces, Serviced Spaces and Co-Working Spaces)
China flexible workspace industry is highly fragmented and the presence of small operators have driven the supply of co-working segment whereas serviced spaces and the hybrid model is majorly built by bigger players such as WeWork (Enterprise Solution), Atlas Workspace (Office as a Service) and other players.
By City (Shanghai, Beijing, Shenzhen, Hong Kong, Chengdu, Guangzhou and Rest of China)
Shanghai dominates the China flexible workspace market in terms of overall supply. Beijing, Chengdu, and Guangzhou have been growing at the fastest pace due to the emergence of localized players. Since, the industry is at its nascent stage in Chengdu, Hong Kong and Guangzhou the average occupancy is lower in these cities.
By Type of End Users (Enterprise, MSME’s/Start-Ups and Freelancers / Self Employed)
Changing the workforce and evolving business strategy has resulted in an increase in demand for flexible workspaces. Enterprises are leading the demand for a flexible workspace industry followed by MSME’s/Start-ups and Freelancers/Entrepreneurs. Enterprises are following the ‘hub and spoke’ model wherein the corporate head office acts as a hub and flexible workspaces act as spokes.
Competitive Landscape in China Flexible Workspace Market
Regus, WeWork, MyDreamPlus, District, Kr Space, SOHO 3Q, The Executive Centre, People Squared, Atlas Workspace, Servoffice, Compass Office are few of the major players in the industry. The industry is moving towards market consolidation as players such as Ucommune and WeWork with heavy financial backing are taking over small operators. The companies are shifting their focus from rental to non-rental revenue streams.
China Flexible Workspace Market Future Outlook and Projection
In future, it is anticipated that the China Flexible Workspace industry will experience decreasing supply-demand gap as the demand is expected to grow at a much faster pace in comparison to the supply. Companies will gradually shift focus from regional expansion towards sustainability and profitability. The companies will also increase focus towards improving the occupancy rate of the co-working spaces in the industry. Technological development and the provision of value-added services will drive the demand for flexible workspaces in China.
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
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Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
