Co-working Space Market By Business Type, By Business Model, and By Enduser - Global Opportunity Analysis And Industry Forecast, 2022

Coworking space is a shared place that can accommodate employees of more than one company or set of independent individuals. It provides shared infrastructure to multiple people or groups at a much cheaper cost compared to traditional offices. Coworking spaces enhance the feeling of community, creativity, fun, flexibility, accessibility, and sustainability. Also, it offers a variety of amenities like meeting rooms, private offices, hot desk space, private cabin space and shared workstations in an open-plan. In addition, they work on a flexible pay-as-you-go membership model which enables users to save a lot of additional costs by allowing the pay for what they use. Moreover, coworking typically operates on a monthly club membership or subscription fee, which includes access to many additional facilities like cafeteria and others. With the rising cost of rents in tier 1 and tier 2 cities, many SMEs and entrepreneurs are choosing coworking spaces to gain access to better facilities at a cheaper cost.

Market Dynamics and Trends:

Increasing number of startups is driving the growth of coworking space market as they are opting for coworking spaces owing to increasing rent of private office spaces. For instance, according to a survey in 2020, nearly 1.4 million startups were founded in the third-quarter quarter of 2020, a 49% increase over the second quarter of 2020 and a 67% increase over the previous third-quarter startup high set in 2018. Coworking spaces are not only helping to reduce the cost of rent but also additional utilities such as desk, high-speed Wi-Fi connection, coffee, meeting rooms, recreation zones and many others. Also, coworking spaces help startups in acquiring new talents from number of freelancers working together with them on a day to day basis, which in turn reduces the cost of recruitments. Thus, fueling the growth of the market. Moreover, increasing investments in niche coworking spaces such as women only spaces, LGBTQ+ spaces, and other social groups are expected to provide lucrative opportunity as they are becoming popular to accommodate the growing diversity in SMEs such as on-premise childcare and other.

However, the low awareness regarding coworking spaces is hampering the growth of the market. This is attributed to huge misconception among many SMEs and startups from various industry vertical that coworking spaces is only for IT sector as they mainly work from their devices. According to a poll, just 20% of office workers attend a coworking space once a month, leaving a big portion of the population (80%) without general awareness regarding such spaces. In addition, coworking means sharing workspace with strangers, which in turn creates problem for many workers to adapt to unknown people and environment of the spaces.

Market Segmentations and Scope:

The coworking space market is segmented on the basis of business type, business model, end user and geography. On the basis of business type, the market is divided into conventional coworking, professional coworking, and others. On the basis of business model, the market is categorized into sub-lease model, revenue sharing model, and owner-operator model. On the basis of end user, it is segmented into independent professionals, startup teams, and small to medium sized enterprises (SMEs). Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising of North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis:

North America has the highest number coworking spaces in terms of size, with an average of 9,799 sq.ft. per space. This huge demand for coworking space is fueled by growing adoption of flexible work practices, service offices and remote teams.

On the other hand, Asia-Pacific has two of the highest populated countries in the world such as China and India. These two are also emerging markets. Increase in awareness related to the significant advantages of coworking space among the population is creating opportunity for this region to become one of the major coworking space markets.

Competitive Landscape:

The coworking space market comprises of various market players such as Regus Group Companies, TechSpace Inc, Knotel Inc, SimplyWork, District Cowork, Premier Workspaces, and Kr Space. Other players operating in this market include Convene, Servcorp Limited, and Novrl Coworking. These market players are adopting various joint venture strategies and planning expansion of their businesses across various regions to maintain their dominance in the coworking space market.

Key Market Segments:

Coworking Space Market, By Business Type

Open/Conventional Coworking Spaces
Corporate/Professional Coworking Spaces
Others

Coworking Space Market, By Business Model

Sub-lease Model
Revenue Sharing Model
Owner-Operator Model

Coworking Space Market, By End User

Independent Professionals
Startup Teams
Small to Medium Sized Enterprises (SMEs)
Large Scale Corporations

Coworking Space Market, By Geography

North America
U.S.
Canada
Mexico
Europe
UK
Germany
Italy
France
Netherland
Denmark
Finland
Norway
Sweden
Russia
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
South Korea
Singapore
Taiwan
Vietnam
Rest of Asia-Pacific
Rest of World
Brazil
South Africa
Nigeria
Israel
KSA
Turkey
Remaining Countries

Frequently Asked Questions about the Co-working Space Market

What is the estimated value of the Co-working Space Market?

The Co-working Space Market was estimated to be valued at $6.9 Billion in 2021.

What is the growth rate of the Co-working Space Market?

The growth rate of the Co-working Space Market is 14.8%, with an estimated value of $24 Billion by 2030.

What is the forecasted size of the Co-working Space Market?

The Co-working Space Market is estimated to be worth $24 Billion by 2030.

Who are the key companies in the Co-working Space Market?

Key companies in the Co-working Space Market include Regus Group Companies, TechSpace Inc., Knotel Inc., SimplyWork, Talent Garden S.p. A, Premier Workspaces, Kr Space, Convene and Servcorp Limited.

Report Attribute	Details
No. of Pages	285
Published	January 2022
Forecast Period	2021 - 2030
Estimated Market Value ( USD ) in 2021	$ 6.9 Billion
Forecasted Market Value ( USD ) by 2030	$ 24 Billion
Compound Annual Growth Rate	14.8%
Regions Covered	Global

1. Introduction

1.1. Report Description
1.2. Who Should Read this Report?
1.3. Key Market Segments
1.4. Research Methodology
1.4.1 Secondary Research
1.4.2 Data Analysis Framework
1.4.3 Market Size Estimation
1.4.4 Forecasting
1.4.5 Primary Research and Data Validation

2. Co-Working Space Market - Executive Summary

2.1. Market Snapshot, 2021 - 2030, Million Usd

3. Market Overview

3.1. Market Definition and Scope
3.2. Market Dynamics
3.2.1 Drivers
3.2.1.1 Increase in the Number of Start-Ups
3.2.1.2 Low Cost of Coworking Space
3.2.2 Restraints
3.2.2.1 Low Awareness and Privacy Issues
3.2.3 Opportunities
3.2.3.1 Increasing Investment for Improvement and Diversification of Coworking Space

4. COVID-19 Analysis

4.1. Impact on Market Size
4.2. Change in Consumer Trends, Preferences, and Budget Impact Due to COVID-19
4.3. Key Player Strategies to Tackle Negative Impact in the Industry

5. Market Share Analysis

5.1. Market Share Analysis of Top Co-Working Space Providers, 2021

6. Global Co-Working Space Market, by Business Type

6.1. Overview
6.2. Open/Conventional Coworking Spaces
6.2.1 Open/Conventional Coworking Spaces Market, by Region
6.2.1.1 North America Open/Conventional Coworking Spaces Market, by Country
6.2.1.2 Europe Open/Conventional Coworking Spaces Market, by Country
6.2.1.3 Asia-Pacific Open/Conventional Coworking Spaces Market, by Country
6.2.1.4 Rest of the World Open/Conventional Coworking Spaces Market, by Country
6.3. Corporate/Professional Coworking Spaces
6.3.1 Corporate/Professional Coworking Spaces Market, by Region
6.3.1.1 North America Corporate/Professional Coworking Spaces Market, by Country
6.3.1.2 Europe Corporate/Professional Coworking Spaces Market, by Country
6.3.1.3 Asia-Pacific Corporate/Professional Coworking Spaces Market, by Country
6.3.1.4 Rest of the World Corporate/Professional Coworking Spaces Market, by Country
6.4. Others
6.4.1 Others Market, by Region
6.4.1.1 North America Others Market, by Country
6.4.1.2 Europe Others Market, by Country
6.4.1.3 Asia-Pacific Others Market, by Country
6.4.1.4 Rest of the World Others Market, by Country

7. Global Co-Working Space Market, by Business Model

7.1. Overview
7.2. Sub-Lease Model
7.2.1 Sub-Lease Model Market, by Region
7.2.1.1 North America Sub-Lease Model Market, by Country
7.2.1.2 Europe Sub-Lease Model Market, by Country
7.2.1.3 Asia-Pacific Sub-Lease Model Market, by Country
7.2.1.4 Rest of the World Sub-Lease Model Market, by Country
7.3. Revenue Sharing Model
7.3.1 Revenue Sharing Model Market, by Region
7.3.1.1 North America Revenue Sharing Model Market, by Country
7.3.1.2 Europe Revenue Sharing Model Market, by Country
7.3.1.3 Asia-Pacific Revenue Sharing Model Market, by Country
7.3.1.4 Rest of the World Revenue Sharing Model Market, by Country
7.4. Owner-Operator Model
7.4.1 Owner-Operator Model Market, by Region
7.4.1.1 North America Owner-Operator Model Market, by Country
7.4.1.2 Europe Owner-Operator Model Market, by Country
7.4.1.3 Asia-Pacific Owner-Operator Model Market, by Country
7.4.1.4 Rest of the World Owner-Operator Model Market, by Country

8. Global Co-Working Space Market, by End-User

8.1. Overview
8.2. Independent Professionals
8.2.1 Independent Professionals Market, by Region
8.2.1.1 North America Independent Professionals Market, by Country
8.2.1.2 Europe Independent Professionals Market, by Country
8.2.1.3 Asia-Pacific Independent Professionals Market, by Country
8.2.1.4 Rest of the World Independent Professionals Market, by Country
8.3. Startup Teams
8.3.1 Startup Teams Market, by Region
8.3.1.1 North America Startup Teams Market, by Country
8.3.1.2 Europe Startup Teams Market, by Country
8.3.1.3 Asia-Pacific Startup Teams Market, by Country
8.3.1.4 Rest of the World Startup Teams Market, by Country
8.4. Small to Medium Sized Enterprises (Smes)
8.4.1 Small to Medium Sized Enterprises (Smes) Market, by Region
8.4.1.1 North America Small to Medium Sized Enterprises (Smes) Market, by Country
8.4.1.2 Europe Small to Medium Sized Enterprises (Smes) Market, by Country
8.4.1.3 Asia-Pacific Small to Medium Sized Enterprises (Smes) Market, by Country
8.4.1.4 Rest of the World Small to Medium Sized Enterprises (Smes) Market, by Country
8.5. Large Scale Corporations
8.5.1 Large Scale Corporations Market, by Region
8.5.1.1 North America Large Scale Corporations Market, by Country
8.5.1.2 Europe Large Scale Corporations Market, by Country
8.5.1.3 Asia-Pacific Large Scale Corporations Market, by Country
8.5.1.4 Rest of the World Large Scale Corporations Market, by Country

9. Global Co-Working Space Market, by Region

9.1. Overview
9.2. North America
9.2.1 North America Co-Working Space Market, by Business Type
9.2.2 North America Co-Working Space Market, by Business Model
9.2.3 North America Co-Working Space Market, by End-User
9.2.4 North America Co-Working Space Market, by Country
9.2.4.1 U.S.
9.2.4.1.1 U.S. Co-Working Space Market, by Business Type
9.2.4.1.2 U.S. Co-Working Space Market, by Business Model
9.2.4.1.3 U.S. Co-Working Space Market, by End-User
9.2.4.2 Canada
9.2.4.2.1 Canada Co-Working Space Market, by Business Type
9.2.4.2.2 Canada Co-Working Space Market, by Business Model
9.2.4.2.3 Canada Co-Working Space Market, by End-User
9.2.4.3 Mexico
9.2.4.3.1 Mexico Co-Working Space Market, by Business Type
9.2.4.3.2 Mexico Co-Working Space Market, by Business Model
9.2.4.3.3 Mexico Co-Working Space Market, by End-User
9.3. Europe
9.3.1 Europe Co-Working Space Market, by Business Type
9.3.2 Europe Co-Working Space Market, by Business Model
9.3.3 Europe Co-Working Space Market, by End-User
9.3.4 Europe Co-Working Space Market, by Country
9.3.4.1 UK
9.3.4.1.1 UK Co-Working Space Market, by Business Type
9.3.4.1.2 UK Co-Working Space Market, by Business Model
9.3.4.1.3 UK Co-Working Space Market, by End-User
9.3.4.2 Germany
9.3.4.2.1 Germany Co-Working Space Market, by Business Type
9.3.4.2.2 Germany Co-Working Space Market, by Business Model
9.3.4.2.3 Germany Co-Working Space Market, by End-User
9.3.4.3 Italy
9.3.4.3.1 Italy Co-Working Space Market, by Business Type
9.3.4.3.2 Italy Co-Working Space Market, by Business Model
9.3.4.3.3 Italy Co-Working Space Market, by End-User
9.3.4.4 France
9.3.4.4.1 France Co-Working Space Market, by Business Type
9.3.4.4.2 France Co-Working Space Market, by Business Model
9.3.4.4.3 France Co-Working Space Market, by End-User
9.3.4.5 Netherland
9.3.4.5.1 Netherland Co-Working Space Market, by Business Type
9.3.4.5.2 Netherland Co-Working Space Market, by Business Model
9.3.4.5.3 Netherland Co-Working Space Market, by End-User
9.3.4.6 Denmark
9.3.4.6.1 Denmark Co-Working Space Market, by Business Type
9.3.4.6.2 Denmark Co-Working Space Market, by Business Model
9.3.4.6.3 Denmark Co-Working Space Market, by End-User
9.3.4.7 Finland
9.3.4.7.1 Finland Co-Working Space Market, by Business Type
9.3.4.7.2 Finland Co-Working Space Market, by Business Model
9.3.4.7.3 Finland Co-Working Space Market, by End-User
9.3.4.8 Norway
9.3.4.8.1 Norway Co-Working Space Market, by Business Type
9.3.4.8.2 Norway Co-Working Space Market, by Business Model
9.3.4.8.3 Norway Co-Working Space Market, by End-User
9.3.4.9 Sweden
9.3.4.9.1 Sweden Co-Working Space Market, by Business Type
9.3.4.9.2 Sweden Co-Working Space Market, by Business Model
9.3.4.9.3 Sweden Co-Working Space Market, by End-User
9.3.4.10 Russia
9.3.4.10.1 Russia Co-Working Space Market, by Business Type
9.3.4.10.2 Russia Co-Working Space Market, by Business Model
9.3.4.10.3 Russia Co-Working Space Market, by End-User
9.3.4.11 Rest of Europe
9.3.4.11.1 Rest of Europe Co-Working Space Market, by Business Type
9.3.4.11.2 Rest of Europe Co-Working Space Market, by Business Model
9.3.4.11.3 Rest of Europe Co-Working Space Market, by End-User
9.4. Asia-Pacific
9.4.1 Asia-Pacific Co-Working Space Market, by Business Type
9.4.2 Asia-Pacific Co-Working Space Market, by Business Model
9.4.3 Asia-Pacific Co-Working Space Market, by End-User
9.4.4 Asia-Pacific Co-Working Space Market, by Country
9.4.4.1 China
9.4.4.1.1 China Co-Working Space Market, by Business Type
9.4.4.1.2 China Co-Working Space Market, by Business Model
9.4.4.1.3 China Co-Working Space Market, by End-User
9.4.4.2 India
9.4.4.2.1 India Co-Working Space Market, by Business Type
9.4.4.2.2 India Co-Working Space Market, by Business Model
9.4.4.2.3 India Co-Working Space Market, by End-User
9.4.4.3 Japan
9.4.4.3.1 Japan Co-Working Space Market, by Business Type
9.4.4.3.2 Japan Co-Working Space Market, by Business Model
9.4.4.3.3 Japan Co-Working Space Market, by End-User
9.4.4.4 Australia
9.4.4.4.1 Australia Co-Working Space Market, by Business Type
9.4.4.4.2 Australia Co-Working Space Market, by Business Model
9.4.4.4.3 Australia Co-Working Space Market, by End-User
9.4.4.5 South Korea
9.4.4.5.1 South Korea Co-Working Space Market, by Business Type
9.4.4.5.2 South Korea Co-Working Space Market, by Business Model
9.4.4.5.3 South Korea Co-Working Space Market, by End-User
9.4.4.6 Singapore
9.4.4.6.1 Singapore Co-Working Space Market, by Business Type
9.4.4.6.2 Singapore Co-Working Space Market, by Business Model
9.4.4.6.3 Singapore Co-Working Space Market, by End-User
9.4.4.7 Taiwan
9.4.4.7.1 Taiwan Co-Working Space Market, by Business Type
9.4.4.7.2 Taiwan Co-Working Space Market, by Business Model
9.4.4.7.3 Taiwan Co-Working Space Market, by End-User
9.4.4.8 Vietnam
9.4.4.8.1 Vietnam Co-Working Space Market, by Business Type
9.4.4.8.2 Vietnam Co-Working Space Market, by Business Model
9.4.4.8.3 Vietnam Co-Working Space Market, by End-User
9.4.4.9 Rest of Asia-Pacific
9.4.4.9.1 Rest of Asia-Pacific Co-Working Space Market, by Business Type
9.4.4.9.2 Rest of Asia-Pacific Co-Working Space Market, by Business Model
9.4.4.9.3 Rest of Asia-Pacific Co-Working Space Market, by End-User
9.5. Rest of the World
9.5.1 Rest of the World Co-Working Space Market, by Business Type
9.5.2 Rest of the World Co-Working Space Market, by Business Model
9.5.3 Rest of the World Co-Working Space Market, by End-User
9.5.4 Rest of the World Co-Working Space Market, by Country
9.5.4.1 Brazil
9.5.4.1.1 Brazil Co-Working Space Market, by Business Type
9.5.4.1.2 Brazil Co-Working Space Market, by Business Model
9.5.4.1.3 Brazil Co-Working Space Market, by End-User
9.5.4.2 South Africa
9.5.4.2.1 South Africa Co-Working Space Market, by Business Type
9.5.4.2.2 South Africa Co-Working Space Market, by Business Model
9.5.4.2.3 South Africa Co-Working Space Market, by End-User
9.5.4.3 Nigeria
9.5.4.3.1 Nigeria Co-Working Space Market, by Business Type
9.5.4.3.2 Nigeria Co-Working Space Market, by Business Model
9.5.4.3.3 Nigeria Co-Working Space Market, by End-User
9.5.4.4 Israel
9.5.4.4.1 Israel Co-Working Space Market, by Business Type
9.5.4.4.2 Israel Co-Working Space Market, by Business Model
9.5.4.4.3 Israel Co-Working Space Market, by End-User
9.5.4.5 Ksa
9.5.4.5.1 Ksa Co-Working Space Market, by Business Type
9.5.4.5.2 Ksa Co-Working Space Market, by Business Model
9.5.4.5.3 Ksa Co-Working Space Market, by End-User
9.5.4.6 Turkey
9.5.4.6.1 Turkey Co-Working Space Market, by Business Type
9.5.4.6.2 Turkey Co-Working Space Market, by Business Model
9.5.4.6.3 Turkey Co-Working Space Market, by End-User
9.5.4.7 Remaining Countries
9.5.4.7.1 Remaining Countries Co-Working Space Market, by Business Type
9.5.4.7.2 Remaining Countries Co-Working Space Market, by Business Model
9.5.4.7.3 Remaining Countries Co-Working Space Market, by End-User

10. Company Profiles

10.1. Regus Group Companies
10.1.1 Company Overview
10.1.2 Company Snapshot
10.1.3 Product Portfolio
10.1.4 Key Strategic Moves & Developments
10.1.5 Primary Market Competitors
10.2. Techspace Inc.
10.2.1 Company Overview
10.2.2 Company Snapshot
10.2.3 Product Portfolio
10.2.4 Key Strategic Moves & Developments
10.2.5 Primary Market Competitors
10.3. Knotel Inc.
10.3.1 Company Overview
10.3.2 Company Snapshot
10.3.3 Product Portfolio
10.3.4 Key Strategic Moves & Developments
10.3.5 Primary Market Competitors
10.4. Simplywork
10.4.1 Company Overview
10.4.2 Company Snapshot
10.4.3 Product Portfolio
10.4.4 Primary Market Competitors
10.5. Talent Garden S.P. A
10.5.1 Company Overview
10.5.2 Company Snapshot
10.5.3 Product Portfolio
10.5.4 Primary Market Competitors
10.6. Premier Workspaces
10.7.1 Company Overview
10.7.2 Company Snapshot
10.7.3 Product Portfolio
10.7.4 Key Strategic Moves & Developments
10.7.5 Primary Market Competitors
10.8. Kr Space
10.8.1 Company Overview
10.8.2 Company Snapshot
10.8.3 Product Portfolio
10.8.4 Primary Market Competitors
10.9. Convene
10.9.1 Company Overview
10.9.2 Company Snapshot
10.9.3 Product Portfolio
10.9.4 Key Strategic Moves & Developments
10.9.5 Primary Market Competitors
10.10. Servcorp Limited
10.10.1 Company Overview
10.10.2 Company Snapshot
10.10.3 Product Portfolio
10.10.4 Business Performance
10.10.5 Primary Market Competitors
10.11. Expensive
10.11.1 Company Overview
10.11.2 Company Snapshot
10.11.3 Product Portfolio
10.11.4 Key Strategic Moves & Developments
10.11.5 Primary Market Competitors
10.12. Wework Management LLC
10.12.1 Company Overview
10.12.2 Company Snapshot
10.12.3 Product Portfolio
10.12.4 Primary Market Competitors