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Australian Flexible Office Market, 2018

EnvironmentAustralian Flexible Office Market, 2018

Rising Demand for Flexible Offices to Drive Market Opportunities for Property Services and ICT Solutions

RELEASE DATE
28-Aug-2019
REGION
Asia Pacific
Deliverable Type
Market Research
Research Code: 9AAF-00-58-00-00
SKU: EN01142-AP-MR_23435
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EN01142-AP-MR_23435

Australian Flexible Office Market, 2018
Published on: 28-Aug-2019 | SKU: EN01142-AP-MR_23435

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Description

More Australian offices are embracing flexible workplace options, driving the growth of Australia’s flexible office market. Key factors spurring market expansion include the changing work culture that is prioritising mobility and flexibility, including the trend away from long-term fixed leases towards more flexible terms, and the preference for companies to scale up or down easily. As the demand for spaces that are innovative and foster greater collaboration increases, the role of property service providers and Information and Communication Technology (ICT) solutions and service providers becomes more vital. Flexible workspaces require property services to help in integrating an organisation’s physical space, processes, and people to improve both core business productivity and quality of life. It also requires an ICT infrastructure to implement technology-enabled and collaborative work solutions.

Despite the huge potential, there are several restraints to the growth of flexible offices such as price pressures, competition from landlords, end of the mining boom, reluctance from Tier I firms, and diminishing business confidence across Australia in general. For property services and ICT solution providers, the difficulty in transitioning to flexible offices, security concerns, and a crowded market, leading to misalignment between market demand and supply, are some factors limiting them from flourishing in the flexible office market.

The emergence of new forms of co-working spaces, day suites, virtual offices, as well as meeting and training rooms also continue to challenge property services and ICT solutions service providers in meeting the evolving needs of flexible office operators. To compete, both providers should learn how to cater to the diverse array of flexible office offerings. Understanding the working environment implemented within flexible offices could enable better customisation to meet the unique needs of each flexible office operator. Specifically, property service providers need to build solutions that support flexible workplace environments, making tasks simpler and quicker for customers, while ICT solutions should be easy to navigate and seamlessly integrated into current workspaces.

In response to the flexible office boom in Australia, this research service provides insights into the factors driving the demand for property services and ICT solutions and services providers, market segmentation, market potential, market attractiveness across industry sectors, and risks for market participants with socioeconomic rationale on the prospects for growth during the forecast period.

With 2018 as the base year, the study period is from 2018 to 2030 and the forecast period is from 2019 to 2030.

Key Issues Addressed

  • Is the flexible market growing? How long will it continue to grow and at what rate?
  • What are the key factors driving the flexible office market in Australia?
  • What are the key factors restraining the flexible office market growth in Australia?
  • How do property services and ICT solutions and service providers cater to the flexible office boom in Australia?
  • What do customers need from property service providers and ICT solutions and service providers?
  • Do the services on offer today meet customer needs or do they need additional development?
  • Which sectors should property service providers and ICT solutions and service providers target?
  • What are the growth opportunities for both property service providers and ICT solutions and service providers in the flexible office market in Australia?
Table of Contents

Key Findings

Scope

Definitions

Market Overview

Market Overview (continued)

Size and Growth of the Flexible Office Market in Australia

Attractiveness of Flexible Offices to Different Sectors

Australian Start-up Market Snapshot

Market Maturity

Flexible Office Solutions Industry Structure

Market Drivers

Drivers Explained

Drivers Explained (continued)

Drivers Explained (continued)

Drivers Explained (continued)

Drivers Explained (continued)

Drivers Explained (continued)

Drivers Explained (continued)

Drivers Explained (continued)

Drivers Explained (continued)

Drivers Explained (continued)

Market Restraints

Restraints Explained

Restraints Explained (continued)

Restraints Explained (continued)

Restraints Explained (continued)

Restraints Explained (continued)

Segmentation by Service

Segmentation by Location and End Market

Serviced Offices

Co-working Spaces

Co-working Spaces Disrupting the Game

Virtual Offices, and Meeting and Training Rooms

Overview

Demand Drivers

Demand Driver Explained

Demand Driver Explained (continued)

Demand Driver Explained (continued)

Demand Driver Explained (continued)

Demand Driver Explained (continued)

Demand Restraints

Demand Restraint Explained

Demand Restraint Explained (continued)

Demand Restraint Explained (continued)

Demand Restraint Explained (continued)

Market Attractiveness Index

Heat Map

Market Potential

Market Potential (continued)

Market Potential (continued)

Market Potential (continued)

Market Potential (continued)

Market Potential (continued)

Property Services Ecosystem

Ecosystem Activity

Competitive Tools

Competitive Tools (continued)

Competitive Tools (continued)

Competitive Tools (continued)

Competitive Tools (continued)

Overview

Demand Drivers

Demand Drivers Explained

Demand Drivers Explained (continued)

Demand Drivers Explained (continued)

Demand Drivers Explained (continued)

Demand Drivers Explained (continued)

Demand Restraints

Demand Restraint Explained

Demand Restraint Explained (continued)

Demand Restraint Explained (continued)

Demand Restraint Explained (continued)

Demand Restraint Explained (continued)

Market Attractiveness Index

Heat Map

Market Potential

Market Potential (continued)

Market Potential (continued)

Market Potential (continued)

Market Potential (continued)

Market Potential (continued)

Market Potential (continued)

ICT Solutions Ecosystem

Ecosystem Activity

Competitive Tools

Competitive Tools (continued)

Competitive Tools (continued)

Competitive Tools (continued)

Competitive Tools (continued)

Growth Opportunity 1—Servicing Flexible Working Arrangements with Varied Offerings

Growth Opportunity 2—Traditional Landlords Entering Co-working Spaces

Growth Opportunity 3—Innovative and Customised PropTech

Growth Opportunity 4—Focus on Health and Wellbeing

Growth Opportunity 5—Integration of Hotels and Flexible Offices

Strategic Imperatives for Property Services and ICT Solutions and Services Providers

Summary

Summary (continued)

Conclusion

Legal Disclaimer

Related Reports

List of Exhibits

List of Exhibits (continued)

The Frost & Sullivan Story

Value Proposition—Future of Your Company & Career

Global Perspective

Industry Convergence

360º Research Perspective

Implementation Excellence

Our Blue Ocean Strategy

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More Australian offices are embracing flexible workplace options, driving the growth of Australia’s flexible office market. Key factors spurring market expansion include the changing work culture that is prioritising mobility and flexibility, including the trend away from long-term fixed leases towards more flexible terms, and the preference for companies to scale up or down easily. As the demand for spaces that are innovative and foster greater collaboration increases, the role of property service providers and Information and Communication Technology (ICT) solutions and service providers becomes more vital. Flexible workspaces require property services to help in integrating an organisation’s physical space, processes, and people to improve both core business productivity and quality of life. It also requires an ICT infrastructure to implement technology-enabled and collaborative work solutions. Despite the huge potential, there are several restraints to the growth of flexible offices such as price pressures, competition from landlords, end of the mining boom, reluctance from Tier I firms, and diminishing business confidence across Australia in general. For property services and ICT solution providers, the difficulty in transitioning to flexible offices, security concerns, and a crowded market, leading to misalignment between market demand and supply, are some factors limiting them from flourishing in the flexible office market. The emergence of new forms of co-working spaces, day suites, virtual offices, as well as meeting and training rooms also continue to challenge property services and ICT solutions service providers in meeting the evolving needs of flexible office operators. To compete, both providers should learn how to cater to the diverse array of flexible office offerings. Understanding the working environment implemented within flexible offices could enable better customisation to meet the unique needs of each flexible office operator. Specifically, property service providers need to build solutions that support flexible workplace environments, making tasks simpler and quicker for customers, while ICT solutions should be easy to navigate and seamlessly integrated into current workspaces. In response to the flexible office boom in Australia, this research service provides insights into the factors driving the demand for property services and ICT solutions and services providers, market segmentation, market potential, market attractiveness across industry sectors, and risks for market participants with socioeconomic rationale on the prospects for growth during the forecast period. With 2018 as the base year, the study period is from 2018 to 2030 and the forecast period is from 2019 to 2030.--BEGIN PROMO--

Key Issues Addressed

  • Is the flexible market growing? How long will it continue to grow and at what rate?
  • What are the key factors driving the flexible office market in Australia?
  • What are the key factors restraining the flexible office market growth in Australia?
  • How do property services and ICT solutions and service providers cater to the flexible office boom in Australia?
  • What do customers need from property service providers and ICT solutions and service providers?
  • Do the services on offer today meet customer needs or do they need additional development?
  • Which sectors should property service providers and ICT solutions and service providers target?
  • What are the growth opportunities for both property service providers and ICT solutions and service providers in the flexible office market in Australia?
More Information
Deliverable Type Market Research
No Index No
Podcast No
Author Dwenda Dexiana
Industries Environment
WIP Number 9AAF-00-58-00-00
Is Prebook No
GPS Codes 9835-A4,9343-A4