Flex Space Evolution in India: Managed Solutions Propel Industry Growth and Expansion

BANGALORE, India, Sept. 9, 2024 /PRNewswire/ -- Table Space, in partnership with Cushman & Wakefield, has released a report, 'From Flex to Managed - Evolution of the Flex Space Industry', which highlights the transformative growth in India's flexible workspace segment over the past decade. The report attributes this growth to the increasing adoption of Managed Office Solutions (MOS), which offer optimized capital expenditure, flexible leasing terms, value-added services, quick operational readiness, and complete transparency.

As of H1 2024, the flexible workspace footprint in India's top 8 cities reached 58 million sq ft, accounting for over 7-8% of the country's total Grade A office supply. The report further highlights the flex space inventory across the top 8 cities. Bangalore leads the way with 31% of the total stock, followed by Delhi NCR (16%), Pune (14%), Hyderabad (14%), and Mumbai (11%).

According to the report, both operators and occupiers have been transitioning towards the MOS model. This model particularly appeals to global corporations, with India becoming a key GCC hotspot, offering ideal local real estate solutions.

The IT sector leads the way with 40-50% seat absorption for curated offices in the last 18 months (2023 and H1 2024), followed by Engineering & Manufacturing (14-18%), BFSI (9-12%), and Professional Services (11-12%). In the same period, active flex space operators grew to 300 - with the top 5% holding over 50% Grade A stock, mostly focusing on MOS.

With the rise of GCCs in India, Table Space has recently appointed two global strategic leaders: Robert Newman as Non-Executive Chairman and John Hogan as Chief Sales Officer, Americas. These appointments highlight the company's commitment to driving GCC enablement and enhancing support for its global clientele through comprehensive service offerings.

John Hogan, Chief Sales Officer – Americas, Table Space said, "Table Space remains a pioneer in Managed Office Solutions (MOS), with a strong commitment to innovation and client service. The Cushman & Wakefield-Table Space report highlights MOS's growing traction among global corporations in India, with the IT-BPM sector accounting for 40-50% of seat absorption in 2023 and H1 2024. As India's largest GCC enablement partner, we drive growth by delivering tailored, high-quality solutions for dynamic needs."

Photo: https://mma.prnasia.com/media2/2499666/Table_Space_Flex_Space.jpg?p=medium600
Logo: https://mma.prnasia.com/media2/2480936/Table_Space_Logo.jpg?p=medium600

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Flex Space Evolution in India: Managed Solutions Propel Industry Growth and Expansion

LOS ANGELES, Sept. 17, 2024 /PRNewswire/ -- From September 10-12, 2024, Growatt, a leading global energy solutions provider, made a significant impact at RE+ 2024, North America's largest clean energy event held in Anaheim, California. The company showcased a comprehensive range of solar and energy storage products designed to meet the diverse energy needs of American households and businesses. Adding to its achievements, Growatt was recognized with the prestigious EUPD Research Top PV Brand Award for its exceptional inverter solutions in the U.S. market.

The EUPD Research Top Brand PV Award recognizes Growatt's outstanding performance in the inverter sector, highlighting its leadership position in the American energy solutions market. Frank Qiao, Vice President at Growatt, remarked, "The U.S. market is one of our most critical areas of focus. Receiving this award signifies the approval of local partners and customers, and underscores our ongoing commitment to supporting the evolving energy needs of the region."

A key highlight of Growatt's exhibition at RE+ 2024 was Growatt's Whole-Home Backup Power System, which integrates the MIN 3000-11400TL-XH2-US inverter, the SYN 200E-23-US backup unit, and the APX HV US Battery. This cutting-edge system meets the rising demand for reliable, scalable solar and energy storage solutions in residential markets. The MIN 3000-11400TL-XH2-US inverter supports an 18A PV input current per MPPT, ensuring compatibility with higher-power modules. Its flexible design enables future energy storage integration and allows for system expansion up to 45.6 kW as energy needs grow. The SYN 200E-23-US backup unit offers rapid switching between on-grid and off-grid modes in as little as 16 milliseconds, ensuring uninterrupted power supply. Furthermore, the system supports seamless AC-coupled configurations, adapting to NEM 3.0 policies. Paired with the APX HV US Battery, users can benefit from module-level energy optimization, allowing each module to charge and discharge independently. This modular system design helps reduce initial investment costs while enabling future system upgrades.

Additionally, Growatt introduced the SPH 10000TL-HU-US inverter in combination with the ALP LV US Battery, providing another robust solution for residential energy storage. The inverter features a 22A PV input current per MPPT, ensuring compatibility with high-power solar panels. Its built-in uninterruptible power supply (UPS) function enables a seamless transition to backup power in just 10 milliseconds during outages. The SPH HU US inverter supports both on-grid and off-grid AC-coupling on the GEN side, load side, and grid side, allowing customers to easily convert existing pure PV systems into energy storage systems. This flexibility also helps users maximize benefits under NEM 3.0 regulations, ensuring that users can optimize energy management and enhance system efficiency. The system is scalable up to 60 kW to accommodate growing energy demands, while smart load control optimizes energy usage by prioritizing essential loads during power outages or peak usage periods.

For commercial and industrial applications, Growatt showcased the WIT hybrid inverter in combination with the APX Commercial Battery, delivering a high-performance, container-free energy storage solution. Available in capacities ranging from 28-55 kW for 208V and 220V three-phase systems and 50-100 kW for 480V systems, the WIT series is compatible with APX batteries from 86-200 kWh. The system is designed for self-consumption, demand charge management, peak shaving, emergency backup, and microgrid integration, ensuring reliable power in any scenario. The WIT + APX series incorporates pack-level power optimization, supporting varying states of charge (SOC 0-100%), which enhances system flexibility and simplifies installation and maintenance. Each battery pack operates independently, minimizing energy mismatches and ensuring easy scalability. This design also streamlines distribution and reduces system complexity, making it an ideal solution for commercial and industrial energy management.

As energy storage demand continues to surge in the U.S., Growatt remains focused on delivering cutting-edge solutions tailored to meet this evolving market trend. "The shift toward energy storage is undeniable, particularly in the U.S. where consumers are seeking greater energy independence and resilience," said Frank Qiao. "At Growatt, our energy solutions have empowered homes, businesses, and communities across over 180 countries globally. Moving forward, we will continue to leverage our expertise and deliver reliable, intelligent solar and storage solutions."

CONTACT: info@ginverter.com 

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Growatt Presents Advanced Solar and Energy Storage Solutions at RE+ 2024, Honored with EUPD Research Top PV Brand Award