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India Flexible Workspace Market Outlook to 2025

By Type (Hybrid Spaces, Serviced Spaces and Co-Working Spaces), By City (Bangalore, Mumbai, Delhi NCR, Pune and Hyderabad) and By End Users (Enterprises, MSME’s/Start-Ups and Entrepreneurs/Freelancers)

Region:Asia

Author(s):Saloni Bhalotiya

Product Code:KR950

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Published On

February 2020

Total pages

132

About the Report

The report titled, "India Flexible Workspace Market Outlook to 2025- By Type (Hybrid Spaces, Serviced Spaces and Co-Working Spaces), By City (Bangalore, Mumbai, Delhi NCR, Pune and Hyderabad) and By End Users (Enterprises, MSME’s/Start-Ups and Entrepreneurs/Freelancers)" provides a comprehensive analysis of the Flexible Workspace Market in India. The report covers the pain points, the need, the existing gap, target addressable market, Supply and Demand Analysis along with Revenue streams, Value Chain, Emerging Business Models 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.

 

India Flexible Workspace Overview and Size
Rising real estate cost, Growing Gig Economy and Growing Entrepreneurship, Fluid Business Strategy, Influx of Foreign Companies and Increasing Number of Start-Ups led to the emergence of flexible workspace market in India. Market consolidation is currently taking place at a slower pace and the operators are venturing into new geographies including the tier 2 and tier 3 cities. The supply in India 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 fragmented owing to the presence of more than 300 flexible workspace operators in the industry.
India Flexible Workspace Market Segmentation
By Type of Flexible Workspace (Hybrid or Integrated Spaces, Serviced Spaces and Co-Working Spaces)
Hybrid or Integrated Spaces accounted for the highest market share in 2019. Serviced spaces have been growing at the fastest pace followed by hybrid spaces and co-working spaces during the time period 2016-2019. Flexible workspace operators such as Awfis have recently introduced its Enterprise solution in 2019 which has driven the supply of serviced offices.
By City (Bangalore, Delhi NCR, Mumbai, Hyderabad and Pune)
Bangalore followed by Delhi NCR, Mumbai, Hyderabad and Pune dominates the India flexible workspace market in terms of overall supply. High commercial office rents in Bangalore, Mumbai and Delhi NCR and expanding IT corridor in Pune and Hyderabad have driven the supply of flexible workspaces.
By Type of End Users (Enterprise, MSME’s/Start Ups and Freelancers / Self Employed)
India Flexible workspace industry has been experiencing growing demand from enterprises that are looking for customized office solutions on flexible basis. Flexible workspace operators are continually trying to optimize their solutions to retain the enterprise client as they act as assured and bulk revenue generators.
Competitive Landscape in India Flexible Workspace Market
The market is observed to be at a growth stage, with the competition been fragmented with presence of more than 300 flexible workspace operators. Regus, WeWork, Awfis Space Solutions, IndiQube, Smartworks, 91Springboard, The Executive Centre, Innov8, Vatika Business Centre & Co-working Spaces, InstaOffice, CoWrks, Incuspaze are few of the major players in the industry. Market consolidation is taking place at a slower pace. Different ownerships, company structures, offerings, funding mechanisms and prices / scale are currently complicating the market consolidation process. Operators are shifting towards joint venture models and management models.
India Flexible Workspace Market Future Outlook and Projection
India Flexible Space market is expected to register growth at double digit CAGR by space during 2019-2025F. This is owing to multitude of factors namely emerging domestic and foreign operators, increasing number of   using flexible workspaces, government initiatives to boosts start-ups, development of co-working spaces outside office building, increasing rents of commercial office and expansion of peripheral regions. The supply-demand gap is expected to reduce by 2025 as operators are expanding in tier 2 and tier 3 cities (which have limited scope) and their focus for tier 1 city will be to increase occupancy by providing customized services and tech enhanced solutions.
Key Segments Covered
  • By Type of Flexible Workspace
    • Serviced Spaces
    • Hybrid Spaces
    • Co-Working Spaces
  • By City
    • Bangalore
    • Delhi NCR
    • Mumbai
    • Pune
    • Hyderabad
  • 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 – 2019-2025F
Companies Covered in the Report
  • Flexible Workspace Operators
    • Regus
    • WeWork
    • Awfis Space Solutions
    • IndiQube
    • Smartworks
    • 91Springboard
    • The Executive Centre
    • Innov8
    • Vatika Business Centre & Co-working Spaces
    • InstaOffice
Key Topics Covered in the Report
  • Need and Pain Points Leading to Emergence of Flexible Workspace Industry in India
  • Target Addressable Audience in India Flexible Workspace Industry
  • Existing Gaps in India 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 India Flexible Workspace Market
  • Supply-Demand Analysis and Supply-Demand Gap Analysis, 2019-2025F
  • Success Case Study
  • Analyst Recommendation

Products

  • By Type of Flexible Workspace
    • Serviced Spaces
    • Hybrid Spaces
    • Co-Working Spaces
  • By City
    • Bangalore
    • Delhi NCR
    • Mumbai
    • Pune
    • Hyderabad
  • By End Users
    • Enterprises
    • MSME’s/Start Ups
    • Entrepreneurs/Freelancers

Companies

Flexible Workspace Operators

  • Regus
  • WeWork
  • Awfis Space Solutions
  • IndiQube
  • Smartworks
  • 91Springboard
  • The Executive Centre
  • Innov8
  • Vatika Business Centre & Co-working Spaces
  • InstaOffice

Table of Contents

1. Executive Summary

2. Research Methodology
2.1. Scope
2.2. Market Definitions
2.3. Glossary
2.4. Abbreviations
2.5. Market Sizing and Modeling
2.6Consolidated Research Approach
2.7Market Sizing Approach- India Flexible Workspace Market
2.8Sample Size Inclusion Table
2.9Limitations
2.10Final Conclusion

3. Emergence of Flexible Workspace Industry in India
Target Addressable Market in India Flexible Workspace Market

4. What are the Existing Gaps in India Flexible Workspace Market?

5. Industry Analysis
5.1. Value Chain Analysis
5.2. Emerging Business Model (Lease Model, Joint Venture Model, Management Model and Franchise Model)
5.3. Revenue Streams (Rental Income, Service Fee and Others)
5.4. Organizational Structure of a Flexible Workspace Company
5.5. Types of Flexible Workspace (Traditional Co-Working Space, Niche Co-Working Spaces, Lifestyle Co-Working Spaces, Serviced Offices and Nomadic Spaces)
5.6. Target Audience in Flexible Workspace Industry (Remote from the Headquarter Client, Distributed Company Employee, Partially Remote Workers, Digital Nomads, Freelancers, Startups, Small Teams, Enterprise Clients, Non-Profit Organization and Event Organizers)
5.7. Marketing Strategies
5.7.1. Online Marketing
5.7.2. Offline Marketing

6. Timeline of Major Players in India Flexible Workspace Market

7. India Flexible Workspace Market Size, 2016-2019
7.1. Growth Drivers and Trends in India Flexible Workspace Market
7.2. Supply Scenario in India Flexible Workspace Market, 2016-2019
7.2.1. Supply on the Basis of Space, 2016-2019
7.2.1. Supply By Type of Flexible Workspace, on the Basis of Space, 2016-2019
7.2.2. Supply By City, on the Basis of Space, 2016-2019
Cross Comparison Between Bangalore, Delhi NCR, Mumbai, Hyderabad and Pune on the Basis of Supply of Hybrid or Integrated Spaces, Serviced Spaces and Co-Working Office Space, 2019
Cross Comparison Between Bangalore, Delhi NCR, Mumbai and Pune on the Basis of Number of Centers, Occupancy Rate, Average Private Office Price, Average Dedicated Desk PRICE, Average Hot Desk Price, Average Price Per Desk Penetration Rate and Commercial Office Space (NLA Million Sq Ft), 2019
7.3. Demand Scenario in India Flexible Workspace Market, 2016-2019
7.3.1. Demand on the Basis of Occupied Space and Occupancy Rate, 2016-2019
7.3.2. Demand By End Users, on the Basis of Occupied Space, 2016-2019
7.4. Supply-Demand Gap Analysis in India Flexible Workspace Market, 2016-2019
7.5. India Flexible Workspace Market, Average Desk Cost, 2019

8. Competitive Landscape in India Flexible Workspace Market
8.1. Competition Stage (Nature of the Market, Competition Scenario and Business Sustainability), Company Position and Competition Parameters (Product Offering, Value Added Services, Rental Rate, Market Experience, Geographical Presence, Strategic Partnerships and Office Infrastructure), 2019
8.2. Market Share on the Basis of Number of Centers, 2019
8.2.1. India Flexible Workspace Market Share of Top Ten Players (Regus, WeWork, Awfis Space Solutions, IndiQube, Smartworks, 91Springboard, The Executive Centre, Innov8, Vatika Business Centre & Co-working Spaces and InstaOffice), 2019
8.2.2. Bangalore Flexible Workspace Market Share of Top Ten Players (IndiQube, WeWork, Regus, Workshaala, Awfis Space Solutions, BHIVE Workspace, 91Springboard, Smartworks, StartupHuts and GoodWorks CoWork), 2019
8.2.3. Delhi NCR Flexible Workspace Market Share of Top Ten Players (Regus, Awfis Space Solutions, WeWork, 91Springboard, Innov8, InstaOffice, Vatika Business Centre & Co-working Spaces, Skootr, The Office Pass and CoworkIn), 2019
8.2.4. Mumbai Flexible Workspace Market Share of Top Ten Players (WeWork, Regus, Awfis Space Solutions, 91Springboard, Innov8, Redbrick Offices, The Executive Centre, The Empire Business Center, Smartworks and Bootstart), 2019
8.2.5. Pune Flexible Workspace Market Share of Top Ten Players (Awfis Space Solutions, Bootstart, Regus, TBL Space, Smartworks, IndiQube, Cowork Studio, Trios, Entrepreneur Facilitation Centre and Development and CoHive), 2019
8.2.6. Hyderabad Flexible Workspace Market Share of Top Ten Players (Regus, Awfis Space Solutions, WeWork, Unispace Business Centre, Ikeva, Workafella, Redbrick Offices, Rent A Desk, The Executive Centre and 91Springboard), 2019
8.3. India Flexible Workspace Market Mergers, Acquisition and Partnership
8.4. India Flexible Workspace Market Investment Rounds
8.5. Heat Map Analysis of Major Players (Regus, WeWork, Awfis Space Solutions, IndiQube, Smartworks, 91Springboard, The Executive Centre, Innov8, Vatika Business Centre & Co-working Spaces, InstaOffice, CoWrks and Incuspaze), on the Basis of Number of Centers in Different Cities, 2019
8.6. Cross Comparison Between Top 10 Operators (Regus, WeWork, Awfis Space Solutions, IndiQube, Smartworks, 91Springboard, The Executive Centre, Innov8, Vatika Business Centre & Co-working Spaces, InstaOffice, CoWrks and Incuspaze), 2019
8.6.1. On The Basis of Revenue Streams, and Business/Marketing Strategy
8.6.2. On The Basis of Management, Investors and Funding Round, 2019
8.6.3. On The Basis of Space (Area or Number of Desks), Revenue (2018), Major Clients and Average Desk Cost (USD Per Month)
8.7. Company Profiles (Company Overview, Business Strategies, Service Offering, Partnerships, Geographical Presence, Financials, Recent Developments, Future Plans, Number of Centers and Average Desk Cost)
8.7.1. WeWork
8.7.2. IWG
8.7.3. The Executive Centre
8.8. Case Studies of Major Local Players
(Parameters:Establishment, Service Offering, Management, Funding Rounds, Investors, Clients, Business Strategies, Marketing Strategies, Financials, Geographical presence, Average desk cost, Advertisement and Promotional expenditure and Adoption Strategy)
8.8.1. Awfis Space Solutions
8.8.2. 91 SpringBoard
8.8.3. Innov8 By Oyo
8.8.4. IndiQube

9. India Flexible Workspace Market Future Outlook and Projection, 2019-2025F
9.1. Projected Growth Drivers in India Flexible Workspace Market
9.2. Future Supply Scenario in India Flexible Workspace Market, 2019-2025F
9.2.1. Future Supply On the Basis of Space, 2019-2025F
9.2.2. Future Outlook of Supply By Type of Flexible Workspace (Hybrid or Integrated Space, Serviced and Co-Working Space) On the Basis of Space, 2019-2025F
9.2.3. Future Outlook of Supply By City (Bangalore, Delhi NCR, Mumbai, Hyderabad, Pune and Rest of India), 2019-2025F
9.3. Future Demand Scenario in India Flexible Workspace Industry, 2019-2025F
9.3.1. Future Demand on the Basis of Occupied Space and Occupancy Rate, 2019-2025F
9.3.2. Future Demand By End Users, on the Basis of Occupied Space, 2019-2025F
9.4. Future Demand-Supply Gap Analysis in India Flexible Workspace Market, 2019-2025F

10. Success Case Study of Ucommune

11. Analyst Recommendations
11.1. Analyst Recommendations for Potential New Entrants
What is the Ideal Space Structure For a Flexible Workspace in India?
What should be the Operational Timings of a Flexible Workspace in India?
What are the Upcoming Locations For Flexible Workspace in India?
What are the Different Revenue Streams for a Flexible Workspace Opeartor in India?
Why and How Should Commercial Real Estate Companies and Traditional Landowners Contribute to the Flexible Workspace Industry?
What Marketing Strategies can be Adopted by Flexible Workspace Brands in India?
What are the Various Source of Investment for Flexible Workspace Brands in India?
What is the Target Audience of Flexible Workspaces in India?
Best Practise in Business: Upcoming Business Strategies
11.2. Analyst Recommendations for Existing Players
Focus on Inorganic Growth
Focus on Non Rental Revenue Streams
Develop Strategic Partnerships
How can Flexible Workspaces Develop their Technological Infrastructure?
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