Office Space Market Share, Trends (2022-27) | Industry Growth

 

Market Overview:

During the forecast period, the global office space market is anticipated to grow at a CAGR of 12%. As the majority of offices successfully implement return-to-work, leasing momentum has returned. Around city centres, both inquiries and leasing activity have increased. For the first time since the start of the pandemic, net absorption in the office space market changed from negative to positive. The demand for large, high-quality office spaces will be influenced by the fact that the IT and ITeS industries are some of the main drivers of overall leasing activity in the major cities.

The COVID-19 is anticipated to have an impact on the mid-term real estate plans of several international office space occupants. In some regions of the world during the third quarter, renewed COVID restrictions brought on by the spread of the Delta variant slowed the recovery, but in the majority of nations, the economy kept growing. Although uncertainty is still a prevalent theme, office spaces are currently observing signs of a recovery in demand.

Scope of the Report:

Any administrative or clerical office space maintained as a business as well as any office established by a public service are referred to as being in the “office space market,” which is governed by this title. The global office space market is thoroughly examined in this report, including a market overview, market size estimates for important segments, emerging trends by segments, and market dynamics. The effect of COVID-19 on the market is also provided in the report.

Building Type (Retrofits, New Buildings), End User (IT and Telecommunications, Media and Entertainment, Retail and Consumer Goods), and Geography are the segments used to segment the global office space market (North America, Europe, Asia-Pacific, and Rest of the World).

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