Market Size of Asia Pacific Flexible Office Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | Low |
Major Players.webp)
*Disclaimer: Major Players sorted in no particular order |
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APAC Flexible Office Market Analysis
The Asia Pacific Flexible Office Market is anticipated to register a CAGR greater than 4% during the forecast period.
Despite a backdrop of political unrest and uncertainty driven by COVID-19, the Asia-Pacific flexible office market has remained strong over the past 12 months. According to the latest research, the industry is in a good position to benefit as companies across the region adjust their office strategies. Despite its relative immaturity, the APAC flexible workspace market has seen three years of successive growth and is now home to nearly 10,000 centers for flexible workspace. Supply of space, which includes coworking, serviced offices, and space as a service, increased by 19% in 12 months, putting the region on track to outpace more established markets in Europe and the US.
About 60% of the top 20 Asia-Pacific cities saw double-digit growth in flexible office space supply last year. Research shows demand for flexible workspace is returning to pre-COVID-19 levels. In the first quarter of 2020, six percent of all the office stock in Delhi was flexible office space. Comparatively, two percent of all the office stock in both Auckland and Guangzhou was flexible office space in the first quarter of 2020. Although the growth of flexible office space has slowed in recent years, it is now firmly established as a strategic long-term real estate solution for a wide range of office occupying industries. The future offices intend to increase their use of flexible space in the coming years.
