Co-working Space Market Current And Future Demand 2030

Published: 2024-06-28
Views: 82
Author: Pujammr
Published in: Business

Co-working Space Market Current And Future Demand 2030

Co-working Space Market Growth or Demand Increase or Decrease for what contains:

The COVID-19 lockout has impacted the worldwide co-working space business by increasing the number of people who work remotely or from home. For example, in March 2021, as a result of the COVID-19 crisis, numerous enterprises working from home, as well as co-working space providers, had a roughly 50% reduction in footsteps. Furthermore, according to the Business 2 Community report, the number of persons working from home or remotely increased by 44% over the previous five years as of April 2021. However, the number of persons working remotely has expanded dramatically as a result of the COVID-19 shutdown in recent months. As a result, the co-working space market's revenues are expected to decline in 2020.

Co-working Space Market CAGR Estimation:

Co-working Space Market size was valued nearly US$ 9.27 Bn. in 2023 and is expected to grow at a CAGR of 6.80% over 2024-2030, to account for US$ 14.69 Bn. in 2030.

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Co-working Space Market Segmentation:

by Product
Open/ Conventional Coworking Spaces
Corporate/ Professional Coworking Spaces
Others

by Type
Finance
Legal Services
Marketing
Real Estate
Consulting Services
Other

The MMR study covers all aspects of the Global Co-working Space Market, including type and applications. The corporate/professional co-working spaces category was valued at US$ Mn. in 2023 and is predicted to reach US$ Mn. by 2030, with a CAGR of xx% over the forecast period. However, by 2030, open/conventional co-working spaces are predicted to account for the biggest market share (xx%). Similarly, the MMR study accurately predicts the contribution of each category to the growth of the worldwide market size.

Co-working Space Market Overview:

The global co-working space industry is primarily driven by an increase in the number of start-ups worldwide. According to thegeniuswork.com, the global start-up economy was worth US$ 3 trillion in October 2021, representing a 20% increase over 2017 and 2018. The expansion is fueled by increased internet space, exposure to entrepreneurial knowledge outside of the country, and higher literacy rates.

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Co-working Space Market: Which Regions are Experiencing Growth or Increased Demand?

North America dominated the co-working space market, with market size of US$ Mn. in 2023 and reach US$ Mn by 2030, with a CAGR of xx%. This growth is attributed to the number of single entrepreneurs & Micro SME (with employee strength between 0-10) and growing need for socializing within North America is very high compared to another regions. Nevertheless, APAC accounted for the second largest market xx% share in 2023, and expected to register a CAGR of xx.61% during forecast period.

The U.S. is still leading as the biggest co-working space market with above 3,700 shared workspaces across the country, followed by India-2,197 spaces and the UK-1,044 spaces. Based on yearly growth in 2020, out of the largest co-working space markets, India & Germany are the two fastest-growing economies, followed by the U.S. and Canada.

Japanese telecom giant SoftBank spent over US$ 4 Bn. into WeWork Company, much of which will support APAC expansion. This contains a takeover of Singapore’s largest co-working space, Spacemob. The company anticipates being in as various as a dozen cities in South Asia in 2018.

Co-working Space Market Scope and Methodology:

The paper explains the approach, which is based on descriptive research and uses SWOT analysis to deliver useful insights to investors. The report's key focus is a thorough examination of Co-working Space market questionnaires and other methods, which are examined numerically, statistically, and mathematically, including data collecting and analysis to uncover Co-working Space market trends through research.

Following a thorough analysis of the situation, the study concludes that the Co-working Space market offers numerous prospects, including R&D activities, new industrial processes, unique forms of development, and Co-working Space market consolidations and acquisitions. The research focuses on the leading players' strategy, portfolios, organisational structures, and insightful analysis. To identify market trends, a thorough SWOT analysis and PESTLE assessment were performed.

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Co-working Space Market Key Players:

1. Common Grounds Workplace
2. Convene
3. District Cowork
4. Green Desk
5. HackerLab
6. Impact Hub
7. Industrious
8. Intelligent Office
9. Knotel, Inc.
10.Kr Space
11.Make Office
12.Mix Pace
13.Novel Coworking
14.Office Evolution
15.Premier Workspaces
16.Regus Corporation (IWG PLC)
17.Serendipity Labs
18.Servcorp Limited
19.SimplyWork
20.SOMAcentral
21.TechSpace, Inc.
22.UCOMMUNE
23.Venture X
24.Wework
25.Your Alley

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Key questions answered in the Co-working Space Market are:

• What is Co-working Space?
• What is the growth rate of the Co-working Space Market?
• Which are the factors expected to drive the Co-working Space market growth?
• What are the different segments of the Co-working Space Market?
• What growth strategies are the players considering to increase their presence in Co-working Space?
• What are the upcoming industry applications and trends for the Co-working Space Market?
• What are the recent industry trends that can be implemented to generate additional revenue streams for the Co-working Space Market?
• What major challenges could the Co-working Space Market face in the future?
• What segments are covered in the Co-working Space Market?
• Who are the leading companies and what are their portfolios in Co-working Space Market?
• What segments are covered in the Co-working Space Market?
• Who are the key players in the Co-working Space market?

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