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China Flexible Workspace Market Outlook to 2025

Driven by Increasing Investment in Technology and Shift in Focus towards Non Rental Revenue Streams

Region:Asia

Author(s):Saloni Bhalotiya

Product Code:KR948

Download Sample Report
Published On

February 2020

Total pages

117

About the Report

The report titled, "China Flexible Workspace Market Outlook to 2025 Driven by Increasing Investment in Technology and Shift in Focus towards Non-Rental Revenue Streams" 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 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 has 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 of 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
The market is observed to be at a growth stage, with the competition been highly fragmented with the presence of more than 1500 flexible workspace operators. Regus, WeWork, MyDreamPlus, Distrii, 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 the 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 – 2019-2025F
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

Products

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 

Companies

Flexible Workspace Operators

  • Ucommune
  • Regus
  • WeWork
  • MyDreamPlus
  • Distrii
  • Kr Space
  • SOHO 3Q
  • The Executive Centre
  • People Squared
  • Compass Office
  • Servoffice
  • Atlas Workspace

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
2.3Consolidated Research Approach
2.4Market Sizing Approach- China Flexible Workspace Market
2.5Sample Size Inclusion Table
2.6Limitations
2.7Final Conclusion

3. Emergence of Flexible Workspace in China

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

5. Industry Analysis for China Flexible Workspace Market
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 and Non Rental Revenue Streams)
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 China Flexible Workspace Market

7. China Flexible Workspace Market Size, 2016-2019
7.1. Growth Drivers and Trends in China Flexible Workspace Market
7.2. Supply Scenario in China Flexible Workspace Market, 2016-2019
7.2.1. Supply On the Basis of Space and Number of Centers, 2016-2019
7.2.2. Penetration Rate of Flexible Workspace Industry In Different Cities Including, Shanghai, Beijing, Shenzhen, Chengdu, Guangzhou and Hong Kong, 2019
7.2.3. Supply By Type of Flexible Workspace (Hybrid or Integrated Space, Serviced and Co-Working Space) On the Basis of Space, 2016-2019
7.2.4. Supply By City (Shanghai , Beijing, Shenzhen, Hong Kong, Chengdu and Guangzhou), On the Basis of Space, 2016-2019
Cross Comparison between Flexible Workspace Market in Shanghai , Beijing, Shenzhen, Hong Kong, Chengdu and Guangzhou on the Basis of Supply of Hybrid or Integrated Spaces, Serviced Spaces and Co-Working Office Space, 2019
Cross Comparison Between Shanghai, Beijing, Shenzhen, Hong Kong, Chengdu and Guangzhou on the Basis of Number of Centers, Occupancy Rate, Average Private Office Price, Average Dedicated Desk PRICE, Average Hot Desk Price and Average Price Per Desk, 2019
7.3. Demand Scenario in China Flexible Workspace Industry, 2016-2019
7.3.1. Demand on the Basis of Occupied Space and Occupancy Rate, 2016-2019
7.3.2. Demand By Type of End Users (Enterprise, MSME’s/Start Ups and Freelancers / Self Employed), On the Basis of Space, 2016-2019
7.4. Demand-Supply Gap Analysis in China Flexible Workspace Market, 2016-2019
7.5. China Flexible Workspace Market, Average Desk Cost, 2019

8. Competitive Landscape in China 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. China Flexible Workspace Market Share of Major Players (Ucommune, IWG (Regus + Spaces), WeWork, MyDreamPlus, Distrii, Kr Space, SOHO 3Q, The Executive Centre, People Squared, Compass Office, Servoffice, Atlas Workspace and Others), 2019
8.2.2. Shanghai Flexible Workspace Market Share of Major Players (WeWork, IWG (Regus + Spaces), People Squared, Distrii, SOHO 3Q, Ucommune, Kr Space, Atlas Workspace, Linckia, Mixpace and Others), 2019
8.2.3. Beijing Flexible Workspace Market Share of Major Players (Ucommune, WeWork, MyDreamPlus, Regus, WePlus, Servoffice, Distrii Kr Space, SOHO 3Q, The Executive Centre and Others), 2019
8.2.4. Hong Kong Flexible Workspace Market Share of Major Players (IWG (Regus + Spaces), Compass Office, WeWork, The Executive Centre, The Hive, Garage Society, Servcorp, Ucommune and others), 2019
8.2.5. Shenzhen Flexible Workspace Market Share of Major Players (Ucommune, Regus, WeWork, SimplyWork, BeePlus, Nash Work, Atlas Workspace and Others), 2019
8.2.6. Chengdu Flexible Workspace Market Share of Major Players (WeWork, The Executive Centre, Ucommune, MyDreamPlus, Regus, Servoffice, Salmonist Co-working and Others), 2019
8.2.7. Guangzhou Flexible Workspace Market Share of Major Players (Regus, WeWork, The Executive Centre, Atlas Workspace, Ucommune, BeePlus, Kr Space and Others), 2019
8.3. Heat Map Analysis On the Basis of Number of Centers in Different Cities, 2019
8.4. China Flexible Workspace Market Mergers, Acquisition and Partnerships
8.5. China Flexible Workspace Market Investment Rounds
8.6. Cross Comparison of Major Players in China Flexible Working Space Market
8.6.1. On the Basis of Revenue Streams and Business Strategy (Ucommune, MyDreamPlus, Distrii, Kr Space, SOHO 3Q, People Squared, Shiao International-Servoffice and Atlas Workspace), 2019
8.6.2. On the Basis of Management, Investors, Funding Rounds, Space in Sq Ft (Ucommune, MyDreamPlus, Distrii, Kr Space, SOHO 3Q, People Squared, Shiao International-Servoffice and Atlas Workspace, 2019
8.7. Company Profiles for Major Players in China Flexible Workspace Market
(Parameters: Company Overview, Business Strategy, Service Offerings, Partners, Financials, Recent Developments, Mergers and Acquisitions, Funding Rounds, Number of Centres and Average Desk Cost)
8.7.1. WeWork
8.7.2. IWG
8.7.3. Servcorp
8.7.4. The Executive Centre
8.7.5. Compass Office

9. China Flexible Workspace Market Future Outlook and Projection, 2019-2025F
9.1. Projected Growth Drivers in China Flexible Workspace Market
9.2. Future Supply Scenario in China Flexible Workspace Market, 2019-2025F
9.2.1. Future Supply On the Basis of Space and Number of Centers, 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 (Shanghai, Beijing, Shenzhen, Hong Kong, Chengdu and Guangzhou) On the Basis of Space, 2019-2025F
9.3. Future Demand Scenario in China 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 Type of End Users (Enterprise, MSME’s/Start Ups and Freelancers / Self Employed), on the Basis of Space, 2019-2025f
9.4. Future Demand-Supply Gap Analysis in China 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 China?
What should be the Operational Timings of a Flexible Workspace in China?
What are the Upcoming Locations For Flexible Workspace in China?
What are the Different Revenue Streams for a Flexible Workspace Opeartor in China?
What Marketing Strategies can be Adopted by Flexible Workspace Brands in China?
What are the Various Source of Investment for Flexible Workspace Brands in China?
What is the Target Audience of Flexible Workspaces in China?
Best Practise in Business: Upcoming Business Strategies
How can Flexible Workspaces Attract People from Commercial Office Space to a Flexible Workspace?
11.2. Analyst Recommendations for Existing Players
Focus on Inorganic Growth
Focus on Increasing Occupancy in Existing Location
Focus on Non Rental Revenue Streams
Develop Strategic Partnerships
Focus on Development of Technological Infrastructure

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