Virtual Office Statistics & Hybrid Work Trends in 2024

A virtual office allows employees to work from anywhere, as long as they have a reliable internet connection.

The rise in virtual offices has increased workplace flexibility and enabled companies to tap into a global talent pool.

Here are key statistics that reveal the efficacy of remote work models, including factors such as operating costs, employee productivity, and employee satisfaction.

Virtual office market growth and hybrid work trends

• The virtual office market in Japan in 2020 was ¥320 million, which was 6.4 times the size of the market during 2019. (ITR Co. LTD.)

• The estimated sales value of virtual office tools in Japan was ¥250 million in fiscal year 2020. It is anticipated that the market will experience significant growth in the next few years, with a projected value of ¥18 billion by fiscal year 2025. (Statista)

• According to a recent survey conducted by Japan’s Ministry of Internal Affairs and Communications in 2022, over 51% of they surveyed companies had implemented policies around working remotely (telework). (Soumu.go.jp) 

• In March 2022, the European region had approx. 4,200 flexible working spaces and Asia had over 4,100 spaces dedicated to flexible work. (Statista)

• In 2020, 1.93 million individuals worked from coworking spaces worldwide. (Statista)

• In 2019, Regus was the leading serviced and flexible work office company in the world. (Statista)

• In the US, office attendance is still 30 percent lower than pre pandemic levels. (McKinsey) 

• In Japan, 51.2% of respondents say they are allowed to work remotely at their company. (Doda.jp)

• Average days in the office per week: Beijing (3.9), London (3.1), New York City (3.6). (McKinsey)

• In the UK, only 28% of office workers spend the entire week at the office. (McKinsey)

• Higher home prices in a city's urban core compared to suburbs are linked to lower office attendance. (McKinsey)

Cost savings from hybrid or remote work styles

• Global Workplace Analytics reports that employers can save an average of $10,000 per employee annually through full-time telework.

• IBM cut real estate spending by $50 million through flexible work arrangements. (Global Workplace Analytics) 

• Office space in Tokyo for businesses establishing themselves in Japan can range from ¥65,000 to ¥300,000/mo and are 2600% more costly when compared to virtual office solutions that are typically between ¥660 to ¥11,000/mo. (MailMate)

Work life balance statistics

• According to a survey conducted on 1,500 technology experts, approximately 37% of them would be willing to accept a 10% pay cut in exchange for the privilege of working from home. (Global Workplace Analytics) 

• In the same report, according to 56% of hiring managers, recruiting Gen Y individuals is a challenging task. Similarly, 64% of hiring managers reported that retaining Gen Y employees is also difficult. However, Gen Y individuals are highly interested in flexible work arrangements, which they rate as an 8 out of 10 for its impact on their overall job satisfaction. (Global Workplace Analytics) 

• Workers prefer remote working in Japan at 61% compared to 98% in the US who desire some remote work. (MailMate)

Benefits of remote work

• In a survey report conducted in Sri Lanka, researchers found that virtual office platforms enable higher female workforce participation, particularly those with young children. (Plos One)

• In Japan, perceived benefits of an onsite office environment include: Improved communication and reduced home energy costs. (MailMate)

• Benefits of remote work include flexible schedules, increased productivity, and the ability to provide better care for aging parents and children. (MailMate)

In closing

Research on the benefits of virtual offices vs physical office spaces as well as remote work trends is still a relatively new field. But taking a look at surveys around remote workers, remote teams, and the hybrid work model can provide insights on the advantages and challenges associated with using virtual offices and boosting the productivity of remote employees.

These key remote work statistics on the hybrid remote office model can help organizations to make informed decisions and implement successful remote work strategies that will better work life balance for their employees.