Due to the evolving nature of the corporate landscape over the past decade, flexible workspaces have gained noteworthy popularity. Moreover, the remote working trend shifted gears in the forward direction in recent years due to which, the demand for flexible workspaces witnessed considerable growth– a factor that is expected to accelerate the global flexible workspace market during the forecast period. Furthermore, due to the increasing penetration of high-speed Internet across urban cities in developed as well as developing regions, the possibility of operating from a flexible workspace has turned into reality.
The surge in the number of open floor plan office spaces, along with the entry of a number of co-working workspaces has played an imperative role in shaping the overall growth of the global flexible workspace market. The flourishing startup culture in several pockets of the world is another major factor that is likely to augment the growth of the global flexible workspace market in the upcoming decade. Market players operating in the current flexible workspace market are increasingly focusing on finding a balance between rising prices of real estate and growing influence of technology to gain an advantage in the current market landscape.
At the back of these factors, the global flexible workspace market is expected to reach US$ 31.5 Bn mark by the end of 2030.
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Growing Awareness Pertaining to Flexible Workspaces to Bolster Market Growth
The commercial real estate segment has witnessed considerable developments over the past decade, as flexible offices and co-working spaces continue to garner popularity worldwide. The growing awareness regarding flexible workspaces continues to play a key role in bolstering the growth of the global flexible workspace market. The onset of flexible workspace continues to transform the corporate sphere– a trend that is likely to gain further momentum during the assessment period. In addition, traditional lease system and increasing capital and resources required for furnishing, IT, and electrical are some of the other factors playing a pivotal role in fueling the adoption of flexible workspaces worldwide.
Moreover, the analysts at Transparency Market Research are of the opinion that the growing collaboration between flexible workplace players and landlords is expected to influence the growth of the global flexible workspace market during the assessment period. As more number of companies continue to emphasize on enhancing productivity and overall employee experience, the adoption of flexible workspaces is likely to witness growth at a steady pace worldwide.
The adoption of flexible workspaces continues to grow across companies that are increasingly focusing on implementing remote working policies.
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Demand to Rise amid COVID-19 Pandemic
The onset of the novel COVID-19 pandemic is expected to play a significant role in the expansion of the global flexible workspace market, particularly in 2024. Moreover, increasing concerns among employees related to maintenance of hygiene in public offices and working with other individuals in close proximity are expected to hinder the demand for flexible workspaces in 2024. Although the flexible workspace market is anticipated to grow at an impressive pace in the upcoming years, the market growth is expected to remain sluggish in 2024 due to the ongoing COVID-19 crisis. Market players are expected to focus on increasing awareness regarding safety, market their flexible workspace as a safe and reliable work place infrastructure, and focus on gaining the trust of their customers to gain a competitive edge in the COVID-19 and post-COVID-19 era.
Furthermore, market players are likely to provide private cubicles and optimum security to their employees to gain a competitive in the current market landscape.
Read TMR Research Methodology at: https://www.transparencymarketresearch.com/methodology.html
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