Showing posts with label Top 10 co-working spaces in China. Show all posts
Showing posts with label Top 10 co-working spaces in China. Show all posts

Monday, February 10, 2020

China Flexible Workspace Industry Research Report: Ken Research

How Is The Flexible Workspace Market Positioned In China?
Changing the workforce and changing business strategies has led to the emergence of a flexible workspace industry in China.
The China Flexible Workspace industry has been observed at a growth stage. The supply has drastically increased from ~ sq ft in 2016 to ~ sq ft in 2019. This is owing to an increase in participation from local real estate developers, an increasing number of unicorn start-ups, entry of major local and international player’s post-2015, increasing commercial office rents in tier 1 cities, changing work-style and increasing demand from large enterprises.
By Type of Flexible Workspace: Serviced Space accounted for the highest market share in terms of supply by capturing ~% in 2019. This was followed by Hybrid and Co-Working Spaces. The presence of small operators has driven the supply of the co-working segment whereas serviced spaces and the hybrid model are majorly built by bigger players like WeWork (Enterprise Solution), Atlas Workspace (Office as a Service) and others.
China Flexible Workspace Market
By City: Shanghai contributed majority share in flexible workspace supply in China followed by Beijing, Shenzhen, Hong Kong, Chengdu, and Guangzhou. Shanghai and Beijing are facing a situation of oversupply. Due to the emergence of localized players in Beijing, Chengdu and Guangzhou the supply has increased at the fastest pace in these cities. The industry is observed to be at its nascent stage in Hong Kong, Chengdu and Guangzhou as the penetration rate of a flexible workspace is lower in comparison to Beijing, Shanghai, and Shenzhen. The average desk cost is highest in Hong Kong followed by Beijing, Shanghai, Guangzhou, and Chengdu.
How Has The Demand Changed In China Flexible Workspace Market?
The demand has also been growing at a rapid rate. The total occupied flexible workspace has increased from ~ sq ft in 2016 to ~ sq ft in 2019 and the average occupancy rate has increased from ~% in 2016 to ~% in 2019.
By End-User Type: Enterprises accounted for the highest share in the overall demand of flexible workspace in China followed by MSMEs/Start-Ups and Entrepreneurs/Freelancers. The adoption of the “hub and spoke” strategy in order to provide employee satisfaction and in order to expand business in different geographies has derived the demand for flexible workspaces by enterprises. Start-Ups and MSME’s are looking for office spaces which provide a community to make business partnerships and flexible rental period to accommodate the effect of business uncertainties.
Supply-Demand Gap Analysis In China Flexible Workspace Market
The Supply-Demand gap in the flexible workspace industry has been increasing during 2016-2018 as Shanghai and Beijing have been facing oversupply and new localized players are emerging in another tier 1 and tier 2 cities such as Hi-Coffee from Chengdu and More+ from Wuhan. The supply-demand gap decreased Post 2019. In 2019 operators shifted focus from expansion to efficiency in order to increase occupancy at its existing locations in order to bring business sustainability and profitability. Operators are continually investing in enhancing customer experience by conducting interactive events, upgrading technology which provides business assistance to members. Operators are providing business assistance services such as business concierge, HR and payroll management, accounting and bookkeeping services and others.
What Is The Future Outlook And Projections For China Flexible Workspace Market?
The China Flexible Workspace Market has been anticipated to grow with a CAGR of ~% in terms of supply and ~% in terms of demand during 2019-2025F. With a shift in priority to efficiency over-expansion, the demand is expected to grow at a faster pace in comparison to supply and the supply-demand gap is expected to fall. Operators are continually investing in increasing customer experience by providing business assistance services and by developing their technological infrastructure.
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:-
China Flexible Workspace Market Analysis
Servcorp Beijing Flexible Workspace Market
Beijing Flexible Workspace Market Major Players Share
China Bespoke Office Market Analysis
China Flexible Co-Working Spaces Industry growth
China Flexible Workspace Industry Growth
China Flexible Workspace Market Growth Rate
China Flexible Workspace Market Share
China Joint Office Market Growth
China Office Industry Growth
China's crowded co-working industry
Existing Gaps in China Flexible Workspace Market
Flexible Office Space Market in China
Hong Kong Flexible Serviced Spaces Market
Hot Desks & Coworking Space in China
Largest Coworking Space Companies in China
Number of Lease Signed by WeWork in China
Serviced Office & Office Rental Market Beijing
Top 10 co-working spaces in China
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

Friday, February 7, 2020

China Flexible Workspace Market is Driven by Increase in Demand from Enterprises and Growing Gig Economy: Ken Research

“Evolving workforce, changing business scenario and aggressive geographical expansion by foreign and regional operators have driven the China Flexible Workspace Industry”.
Evolving Workforce: Changing technology has evolved the modern workforce. It has lead to the development of a gig economy and the concept of teleworking. There are increasing numbers of start-ups and freelancers in China who are looking for affordable office space on a flexible basis. Co-working spaces provide the right environment for the changing workforce to make business partnerships and are also dedicated to providing business assistance services at a nominal fee. The number of unicorn start-ups (start-ups with a valuation of more than USD 1 Billion) in China has increased from 56 in 2017 to 206 in 2019.
Changing Business Scenario: Changing business scenario and increasing competition, enterprises are constantly strategizing to venture into new markets and new products. This has lead to an increase in demand for flexible workspaces and customized managed offices by corporate enterprises. Enterprises are changing into the ‘Hub and Spoke’ model; with corporate head office acting as a hub and flexible workspace act as spoke for employees to work remotely. An increase in focus on employee satisfaction and efficiency has also lead to an increase in demand for flexible workspaces by enterprises.
China Flexible Workspace Market
Aggressive Geographical Expansion: Foreign and regional operators have been focusing on increasing their network of co-working locations by expanding to different cities in China. Flexible Workspace operators such as Ucommune, Distrii, WeWork, Regus, and others are also expanding in tier 2 cities such as Wuhan, Chengdu, Nanjing, Hangzhou, Suzhou, and others. Local real estate companies are installing their own co-working brands such as CR Union by China Resources and COFCO FANTASY by COFCO Property. Localized operators such as Compass Office from Hong Kong, People Squared from Shanghai and MyDreamPlus from Beijing have been expanding to other cities in China. As of December 2019, Ucommune has expanded to 150 locations and Regus and WeWork have expanded to more than 130 and 110 locations respectively in China.
 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 the increase in participation from local real estate developers, an increasing number of unicorn start-ups, the entry of major local and international player’s post-2015, increasing commercial office rents in tier 1 cities, changing work-style and increasing demand from large enterprises. The market has registered CAGR of 34.7% and 42.0% on the basis of supply and demand respectively during the period 2016-2019.
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