Global Coworking Space Market Report 2022 – Market Forecast, Trends And Strategies
2 Mar, 2022
The global coworking space market size is expected to grow from $13.60 billion in 2021 to $16.17 billion in 2022 at a compound annual growth rate (CAGR) of 18.9%. The growth in the coworking space market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $30.36 billion in 2026 at a CAGR of 17.0%.
What is the Global Coworking Space Market?
The coworking spaces market consists of coworking space rental revenues earned by entities (organizations, sole traders and partnerships) that provide coworking workspaces on rent or lease. Unlike traditional office rental, the cost of renting coworking workspaces usually covers the use of related services/equipment such as office chairs and desks Internet/Wi-Fi connection, hardware, software, and others. The industry includes businesses that offer non-residential structures with amenities and facilities on a flexible rental basis.
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What drives the Global Coworking Space Market?
The coworking spaces market is majorly determined by the increase in the number of start-ups globally. The growth is backed by the expansion of internet space, exposure to the knowledge of entrepreneurship outside the boundaries of the country, and improved literacy rates. Besides, advanced manufacturing and robotics, agriculture technology and new food, blockchain, and artificial intelligence, big data, and analytics were the fastest growing start-up sub-sectors globally. Therefore, the rise in the number of startups across various industries globally increased the demand for coworking spaces, driving the market during the forecast period.
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Global Coworking Space Market Segments
The global coworking space market is segmented:
By Business Type: Open/ Conventional Coworking Spaces, Corporate/ Professional Coworking Spaces, Others
By End Use: Finance, Legal Services, Marketing, Technology, Real Estate, Consulting Services, Others
By User: Enterprises, Freelancers, Others
By Geography: The regions covered in the coworking space market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Coworking Space Global Market Report 2022provides market size and growth forecasts for the global coworking space market, global coworking space market share, coworking space market segments and geographies, coworking space market competitive landscape including leading competitors’ revenues, profiles and market shares. The coworking space market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Coworking Space Industry Playersinclude Wework, Regus Corporation (IWG Plc), Mix Pace, Knotel Inc., SimplyWork, District Cowork, Premier Workspaces, Krspace, Convene, Servcorp Limited, Novel Coworking, TechSpace Inc., SOMAcentral, HackerLab, Industrious, UCOMMUNE, Your Alley, Impact Hub, Serendipity Labs, Make Office, Green Desk, Venture X, Office Evolution, CommonGrounds Workplace and Intelligent Office and Studio. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.