Office Space Market Report 2026

The office space market size has grown strongly in recent years. It will grow from $3300.85 billion in 2025 to $3.48 trillion in 2026 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to expansion of white-collar employment, growth of service-oriented businesses, increasing urban office development, rising demand for centralized workspaces, adoption of open-plan office concepts.

The office space market size is expected to see strong growth in the next few years. It will grow to $4252.12 billion in 2030 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to increasing demand for retrofit and renovation projects, rising investments in smart office infrastructure, growing emphasis on employee-centric workspace design, expansion of greenfield office developments, increasing adoption of flexible office usage models. Major trends in the forecast period include increasing demand for modular and reconfigurable office layouts, rising focus on sustainable office retrofits, growing adoption of smart workspace technologies, expansion of collaborative and activity-based spaces, enhanced integration of digital workplace tools.

The growing size of the workforce is expected to drive the expansion of the office space market. This increase is influenced in part by a rise in employment among older individuals who are choosing to remain in the workforce beyond traditional retirement age. Office spaces are essential for accommodating this expanding workforce, offering structured environments that support collaboration, productivity, and efficient task management. For example, in August 2024, the Bureau of Labor Statistics, a US-based government agency, projected that overall employment would grow by 6.7 million jobs between 2023 and 2033, marking a 4% increase from the 167.8 million positions recorded in 2023. As a result, the growing workforce is contributing to the demand for more office space.

Key players in the office space market are developing advanced offerings such as high-speed internet-connected work environments to enable seamless access to digital tools and remote systems. These workspaces are designed with fast, stable internet connections to support virtual collaboration, efficient digital workflows, and reliable access to cloud-based services. For instance, in July 2024, Innov8, a coworking startup based in India, launched three new coworking centers in the Delhi-NCR region. These spaces span approximately 60,000 square feet and provide over 1,200 seats, along with a range of curated amenities and professional services. Each facility includes tech-enabled workstations equipped with advanced audiovisual tools and secure access systems, aimed at enhancing operational efficiency. The company also emphasizes sustainability and employee well-being through measures such as regular sanitization, hygiene protocols, and eco-conscious initiatives such as energy-saving lighting and waste reduction systems.

In January 2025, CBRE Group Inc., a US-based real estate services firm, acquired Industrious for $400 million. Following this acquisition, CBRE announced the launch of a new division called Building Operations & Experience (BOE). This unit will focus on enhancing property management, streamlining building operations, and improving the overall workplace experience. Industrious is a US-based company that specializes in office space solutions.

Major companies operating in the office space market are CBRE Group Inc., Cushman & Wakefield Plc, Regus Group Companies, WeWork Companies Inc., Jones Lang LaSalle Ip Inc., The Executive Centre Ltd., Servcorp, Smartworks Co., The Hive LLC, Spaces Co., Mindspace, 91Springboard, Awfis Space Solutions, Cohatch, The Wing, Innov8 Inc., Techspace, Knotel Inc., Venture X, CommonGrounds Workspace, Altf Coworking, Workbar LLC

North America was the largest region in the office space market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the office space market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the office space market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The office space market consists of sales of office furniture, modular partitions, lighting systems, and conference room equipment. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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