The global co-working space market revenue was around US$ 9.2 billion in 2022 and is estimated to reach US$ 34.5 billion by 2032, growing at a compound annual growth rate (CAGR) of 14.6% during the forecast period from 2023 to 2032.

Co-working spaces are a setting where workers of different firms share the same office space, which allows minimum cost and better convenience by the use of the same infrastructure, such as equipment, utilities, and other such services. This type of setting is attractive to lone contractors, remote workers, and freelancers.

Factors Influencing Market Growth

- The major factors pushing the growth of the co-working space market include the rise in the number of people working remotely or from home and the growth of sustainable co-working spaces.

- The rise in several freelancers and startups is considered to be an important factor in fueling the growth of the co-working space market.

- The availability of limited equipment and limited space are anticipated to hinder the growth of the co-working space market.

- The partnership between open space providers and real estate players contributes significantly to the development of the co-working space market.

Impact of COVID-19

The impact of the COVID-19 pandemic had a positive influence on the growth of the co-working spaces in the world, as conventional workspaces encountered challenges during the pandemic. Many enterprises shifted towards co-working spaces because of the flexibility and affordable prices in working areas. Also, many co-working providers started delivering hybrid work solutions, incorporating remote work help with access to co-working spaces.

Regional Analysis

In 2022, Asia-Pacific dominated the global co-working space market in terms of revenue. Asia-Pacific has drawn substantial investment in the co-working sector, with both, international and local providers extending their presence. Also, the companies working in the region are focusing on strategic fundraising activities.

Leading Companies

The leading prominent companies profiled in the global co-working space market are: -

- Awfis Space Solutions Pvt Ltd
- Industrious LLC
- Newmark Group, Inc.
- Impact Hub GmbH
- LiquidSpace Inc
- Techspace Group Ltd
- Soho China Ltd
- The Office Group Ltd
- Ucommune (Beijing) Venture Capital Co., Ltd
- Wework Companies Inc.
- Other prominent key players

Segmentation Outline

The global co-working space market segmentation focuses on Business Model, End Users, Industry Vertical, and Region.

Segmentation based on Business Model

- Corporate /professional co-working spaces.
- Open/ Conventional co-working Spaces
- Others

Segmentation based on End User

- Large Enterprises
- SMEs
- Freelancers

Segmentation based on Industry Vertical

- IT and Telecom
- BFSI
- Media and Entertainment
- Travel and Hospitality
- Healthcare and Life Science
- Others

Segmentation based on Region

- North America
- The U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa