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China Flexible Workspace Market Eyeing Consolidation, as WeWork takes on Ucommune: Ken Research

02-06-2020 12:48 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Ken Research

China Flexible Workspace Market Eyeing Consolidation, as

o The growth in the market will be driven by growth in the IT and Finance sectors as the major occupiers of flexible workspace in China. The IT sector and the Finance sector in China have been growing with a rate of 27.4% and 7.5% respectively in 2019.

o It is expected that during the forecast period 2019-2025F, the flexible workspace market in Chengdu, Guangzhou and Hong Kong on the basis of supply will grow with a CAGR of 15.1%, 15.1%, and 14.4% respectively.

o Emergence of new regional players such as Hi-Coffee in Chengdu and Compass Office and Garage Society in Hong Kong is driving the supply of flexible workspaces in these cities.

o It is expected in the coming years; companies are going to shift their focus from rental to non-rental revenue streams such as Business Concierge, Accounting, HR, payroll and Task Management services and others in order to bring profitability and sustainability in business. This is the turn will drive the demand for flexible workspaces by enterprises and MNC's to save costs or provide mobility for staff.

In-Organic Growth: Flexible workspace operators with heavy financial backing have been following the strategy of mergers and acquisitions in order to expand their regional presence. For instance, Ucommune has acquired 6 flexible workspace operators in 2018 and WeWork acquired NakedHub in 2018 because of which it expanded to 23 new locations in China.

Increase in Enterprise Demand: There has been a rise in demand for flexible workspace by enterprises that are looking for customized office solutions on flexible terms. Enterprises are following the 'hub and spoke' model wherein the corporate head office acts as a hub and flexible workspaces act as spokes.

Movement from Asset Heavy to Asset Light Model: Flexible Workspace Operators are shifting focus from the lease model to asset a light model such as joint venture revenue sharing with landlords, franchise model, and management model. Companies such as Ucommune and MyDreamPlus promote the asset-light model and loss-making SOHO 3Q sold 11 asset-heavy locations and plans to expand using the asset-light strategy.

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 rising business travelers, changing business strategies, growth in finance and IT sector, expansion in tier 2 cities, an increasing number of localized operators, increasing average center size and increasing demand from MNC's and well, known local companies. The market is expected to register a positive CAGR of 13.7% and 15.4% in terms of supply and demand respectively during the forecast period 2019-2025F.

For More Information on the Research Report, Refer To Below Link:-
https://www.kenresearch.com/manufacturing-and-construction/real-estate/china-flexible-workspace-market-outlook/308536-97.html

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

Related Reports by Ken Research:-

https://www.kenresearch.com/manufacturing-and-construction/real-estate/india-flexible-workspace-mrket-outlook/313543-97.html

https://www.kenresearch.com/manufacturing-and-construction/real-estate/vietnam-real-estate-market-outlook/298092-97.html

https://www.kenresearch.com/manufacturing-and-construction/real-estate/uae-real-estate-market-outlook/307176-97.html

Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249

Ken Research Pvt. Ltd.,
Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India

Ken Research is a Global aggregator and publisher of Market intelligence, equity, and economy reports. We provide business intelligence and operational advisory in 300+ verticals underscoring disruptive technologies, emerging business models with precedent analysis and success case studies.

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