(MENAFN- IMARC Group)
IMARC Group, a leading market research company, has recently releases report titled
“Commercial Real Estate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032, ” The study provides a detailed analysis of the industry, including the global
commercial real estate market
size, share, trends, and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the commercial real estate market?
The global commercial real estate market size reached US$
7.3
Trillion in
2023. Looking forward, IMARC Group expects the market to reach US$
9.6
Trillion by
2032, exhibiting a growth rate (CAGR) of
3.2%
during
2024-2032.
Factors Affecting the Growth of the Commercial Real Estate Industry:
Economic Growth and Urbanization:
Economic growth and urbanization play pivotal roles in the dynamics of the commercial real estate market. Economic growth drives business expansion, leading to an increased demand for commercial properties. Growing businesses require office spaces, retail outlets, manufacturing facilities, and logistics centers to accommodate their operations. This spurs the development of commercial real estate projects, stimulating market growth. Urbanization, on the other hand, stems from the migration of people from rural areas to cities in search of employment and improved living standards. Cities become hubs of economic activity, and their population growth fuels the demand for various commercial properties. Urbanization leads to the development of commercial centers, business districts, and mixed-use developments, thus creating a thriving market for commercial real estate in urban areas.
Technological Advancements and Remote Work Trends:
Technological advancements and remote work trends are reshaping the commercial real estate market. Technological innovations, including enhanced connectivity and collaborative tools, have reduced the reliance on traditional office spaces. The COVID-19 pandemic accelerated the adoption of remote work, prompting businesses to reconsider their real estate needs. This has led to increased demand for flexible and hybrid workspaces that cater to remote work arrangements. As a result, the market has seen a surge in demand for flexible office spaces and a reevaluation of office space layouts. Businesses are optimizing their real estate portfolios to align with the evolving preferences of employees who seek more remote and flexible work options.
Sustainability and ESG Considerations:
Sustainability and Environmental, Social, and Governance (ESG) considerations have become integral factors in the commercial real estate market. Sustainability focuses on reducing environmental impacts, with green building practices, energy-efficient designs, and renewable energy sources gaining prominence. ESG criteria encompass broader societal and ethical concerns, including social responsibility and corporate governance. Investors and businesses are increasingly prioritizing properties that align with these principles, seeking sustainable and socially responsible real estate investments. Green building certifications, such as LEED and BREEAM, highlight a property's eco-friendly features. This shift reflects a broader commitment to environmental conservation, social welfare, and responsible business practices, influencing investment decisions and the development of sustainable commercial real estate projects.
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Commercial Real Estate Market Report Segmentation:
Breakup By Type:
Rental represents the largest type segment in the global commercial real estate market due to the widespread demand for leased commercial properties, including office spaces, retail outlets, and industrial facilities, which represent a significant portion of the commercial real estate landscape.
Breakup By End Use:
Offices Retail Leisure Others
Offices hold the largest end use segment in the market because they are a fundamental component of commercial real estate, catering to businesses and organizations worldwide, reflecting the substantial need for office spaces in various industries.
Breakup By Region:
North America (United States, Canada) Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others) Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others) Latin America (Brazil, Mexico, Others) Middle East and Africa
Asia Pacific leads the global commercial real estate market regionally due to its rapid economic growth, urbanization, and industrialization, which have led to increased demand for commercial properties, including office spaces, retail establishments, and logistics facilities, in this dynamic and populous region.
Global Commercial Real Estate Market Trends:
The growing emphasis on flexibility in office spaces represents one of the key factors influencing the growth of the commercial real estate market across the globe. The rise of remote and hybrid work models has prompted businesses to rethink their office needs, leading to a demand for flexible, adaptable, and coworking spaces. Additionally, sustainability is a driving force, with green building practices and energy-efficient designs gaining prominence as environmentally conscious businesses seek eco-friendly spaces.
Moreover, the e-commerce boom has fueled the demand for logistics and warehousing facilities, particularly in urban areas, to support efficient last-mile delivery. Apart from this, there is a noticeable shift towards mixed-use developments that combine commercial, residential, and recreational spaces in a single location, creating vibrant, live-work-play environments.
Who are the key players operating in the industry?
The report covers the major market players including:
Boston Commercial Properties Inc. Brookfield Asset Management Dalian Wanda Group DLF Ltd. Link Asset Management Limited MaxWell Realty Canada Prologis Inc. RAK Properties PJSC Shannon Waltchack LLC
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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