Serviced Office Leasing
During the five-year period to 2019, the Serviced Office Leasing industry benefited from the rise in popularity of coworking spaces, most prominently WeWork. As a result, the industry experienced an increase in access to clients that would otherwise have chosen traditional office spaces. During the five-year period, the industry experienced high levels of growth as the total value of national corporate profit swelled. Furthermore, demand for professional, scientific and technical services experienced moderate growth, further aiding industry revenue growth. However, profit fell slightly as many of these new entrants, particularly those offering co-working spaces with extensive amenities, contended with high initial capital costs in opening their offices.Over the five years to 2024, industry revenue is projected to increase, benefiting from a changing workforce that includes more telecommuters, who rely on virtual office spaces and conference rooms. However, increasing levels of competition will hinder future growth.
Establishments in this industry rent or lease fully furnished office space to businesses on a part-time or as-needed basis to a myriad of businesses, ranging from start-ups to Fortune 500 companies. The industry also provides virtual office and conference room leasing options. Companies that provide conventional commercial leasing options are excluded from this industry.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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