What is Serviced Office?
A serviced office is a furnished and fully-equipped flexible office space, which can be used as per the requirement of the buyers, paid according to the usage and managed by the operator. It is also called executive offices, managed offices or business centers, companies that manage the serviced offices are responsible for maintaining the facilities and accomodating the business. These are rented out either as single or whole floors to the clients, allowing them to use the private, ready to use office on flexible terms.
The market study is broken down by Type (Business Centers, Coworking Spaces, Logistics centers, Maker Centers and Others), by Application (Start-up, Small Business and Project-Based Teams) and major geographies with country level break-up.
Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Instant (United States), Orega Management Ltd. (United Kingdom), Startup Offices (India), Clockwise (Scotland), Prime Office Search (United Kingdom), Sterling Serviced Office Group (Bulgaria), Corporate Serviced Offices Pte Ltd. (Singapore), Regus Group Companies (Luxembourg) and Servcorp (Australia) are some of the key players that are part of study coverage.
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Serviced Office market by Type, Application and Region.
On the basis of geography, the market of Serviced Office has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Lease, the sub-segment i.e. Flexible Lease will boost the Serviced Office market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Service, the sub-segment i.e. Office cleaning will boost the Serviced Office market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Facility, the sub-segment i.e. Office furniture will boost the Serviced Office market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
On 20 February 2020, Sterling Serviced Office Group launched the Coworking brand. THIS WAY’ is located in Sofia, Bulgaria, and is designed to cater to the new ways people are working with a focus on sustainability and wellbeing. In Sofia, the flexible shared office market currently accounts for around 2% of all office space. The next natural step might be to expand or open a new serviced office in a new location. But Blanchard has once again opted for a different approach.
Market Trend
- Increasing Popularity of Coworking Office Spaces Worldwide
- Rising Use of Serviced Office from Small Business
Market Drivers
- Rapidly Growing Shift of Business Spaces for More Agile Ways of Procuring Office Space
- Need for the Flexible, Short-term Leases and Access to all the Facilities Needed to Run a Business
Opportunities
- The Spendings on Dedicated Security and Support Staff in Offices
- Rising Business Opportunities Worldwide and Increasing Number of Entrepreneur
Restraints
- Hindrances Due to the Prevailing Economic Situation
Challenges
- Expensive Serviced Office Facilities
Key Target Audience
Serviced Office Developer, Serviced Office Service Providers, Serviced Office Industry Associations, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.