Global Coworking Space Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
18 Oct, 2021
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.
Global Coworking Space Market Size And Drivers:
The global coworking space market is expected grow from $7.97 billion in 2020 to $8.14 billion in 2021 at a compound annual growth rate (CAGR) of 2.1%. The growth 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 $13.03 billion in 2025 at a CAGR of 12%. The coworking spaces market is majorly determined by the increase in the number of start-ups globally.
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Trends In The Global Coworking Space Market
The development of sustainable coworking spaces is a major trend shaping the coworking spaces market. Coworking spaces are implementing eco-friendly measures in the workplace to attract entrepreneurs concerned with environmental issues such as global warming. Sustainable practices adopted by the coworking space providers offer substantial benefits and are economically feasible. For instance, CoCoon in Hong Kong has a floor made of natural bamboo and uses non-toxic paints and LED lights. In addition to this, drought-resistant plants are part of the interior and exterior. Another such example is Green Spaces in Denver uses about 160 solar panels on the roofs of its offices. These allow significant cost savings at Green Spaces. Thus, sustainable coworking space is a key trend in the coworking spaces market.
Global Coworking Space Market Segments:
The global coworking space market is further 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, Freelancer, Others
By Geography: The global coworking space market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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https://www.thebusinessresearchcompany.com/report/coworking-spaces-market-global-report-2020-30-covid-19-growth-and-changeCoworking Space Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides coworking space market overviews, analyzes and forecasts market size and growth for the global coworking space market, coworking space market share, coworking space market players, coworking space market segments and geographies, coworking space market’s 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.