According to projections, there will be some 41,975 coworking spaces worldwide by the end of 2024. Coworking is a new, innovative open working environment, which allows for several unrelated companies to share a space and work side by side.

Coworking in the U.S.

Coworking in the United States has recently gained popularity. In 2017, there were over 4,000 coworking spaces in the U.S.; this number is predicted to increase to over 6,200 by 2022. In 2017, there were about 1.18 million people who worked in coworking spaces worldwide. In the United States alone, there were 542,000 people working in coworking spaces in that year. Manhattan was the largest coworking market in 2018, with Regus and Wework dominating the shared office space market.

WeWork’s expansion

First founded in 2010, WeWork has grown exponentially. As of the first quarter of 2019, WeWork had around 466,000 members worldwide, a considerable increase from the 7,000 they had four years ago. As a result of the significant increase in the number of WeWork members, WeWork generated a revenue of 1.8 billion U.S. dollars in 2018. The city with the highest number of WeWork locations in the United States as of February 2018, was New York City.

The number of people working in coworking spaces worldwide is predicted to double between 2021 and 2024, reaching five million people. Coworking Coworking is where a group of workers, usually from different companies, share a common workspace. This workspace is generally rented from a third-party on a short-term basis, generally monthly with the third-party providing most of the office infrastructure. The practice is especially popular amongst freelancers or people who work from home, who may want access to a more social environment for only a few days a week. Global distribution With the exception of the U.K., coworking spaces worldwide are distributed relatively evenly amongst major economies, with the largest single market being in the Asia Pacific region. However, the coworking market is probably better analyzed at the city level rather than the national level. The densest distribution of coworking spaces is found in cities that are large, associated with the digital and creative industries and which have relatively high real estate costs. This suggests a reason why the UK has such an oversized share of coworking spaces relative to size – because London scores highly on all these criteria.

The Report Covers United States Office Space Companies and it is Segmented by End User (Personal User, Small Scale Company, Large Scale Company, and Other End Users), Type (Flexible Managed Office and Serviced Office), Application (Information Technology (IT and ITES), Legal Services, BFSI (Banking, Financial Services, and Insurance), Consulting, and Other Services). The report offers market size and forecast in value (USD billion) for all the above segments.

In the second quarter of 2024, Los Angeles had the highest number of coworking spaces in the United States, with almost 279 locations. It was closely followed by Dallas - Fort Worth, which had 271 locations. The cost for renting a desk in a coworking location depends on the type of subscription, with dedicated desks having the highest rental price.

The Report Covers Canada Co Sharing Office Space Market and it is segmented by End User (Personal User, Small-scale Company, Large-scale Company, and Other End Users), by Type (Flexible Managed Office and Serviced Office), by Application (Information Technology (IT and ITES), Legal Services, BFSI (Banking, Financial Services, and Insurance), Consulting, and Other Services) and by Geography (Vancouver, Calgary, Ottawa, Toronto and Rest of Canada). The report offers the market size and forecast in value (USD billion) for all the above segments.

Explore the Coworking Space Market trends! Covers key players, growth rate 16.8% CAGR, market size $51.42 Billion, and forecasts to 2034. Get insights now!

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Coworking Spaces Market Size 2024-2028

The coworking spaces market size is forecast to increase by USD 27.71 billion at a CAGR of 17.17% between 2023 and 2028. The market is experiencing significant growth, driven by the increasing demand for flexible and cost-effective workspace solutions. Key amenities, such as high-speed internet, meeting rooms, office equipment, administrative support, and advanced technologies like IoT and Big Data, are attracting entrepreneurs, freelancers, and small businesses to coworking spaces. However, challenges persist, including the need for more privacy and quiet spaces, security concerns, and the potential for distractions. To address these challenges, some coworking spaces are offering incubator programs and specialized zones to cater to specific industries or needs. As the market continues to evolve, it is essential for providers to offer competitive pricing, innovative amenities, and a supportive community to remain competitive.

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The coworking spaces market is rapidly evolving, driven by a growing demand for flexible office solutions across corporate and professional segment. Large size enterprise segment and healthcare and life sciences organizations are increasingly adopting coworking models to meet their dynamic space needs. These spaces offer high speed internet, technology integration, and specialized environments designed to support productivity and innovation. Professional co working spaces cater to various industries, including those leveraging VR and AR technologies for advanced collaboration. Accelerator partnerships further enhance the coworking experience, providing startups and established companies with resources and networking opportunities. With a shift from traditional office space lease and rental office premises, coworking is reshaping the landscape of office rentals and office premises, offering a more adaptable and cost-effective solution for businesses of all sizes.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

End-user

  Enterprises and SMEs
  Freelancers and start ups


Type

  Conventional coworking spaces
  Professional coworking spaces
  Others


Geography

  APAC

    India


  Europe

    Germany
    UK
    Spain


  North America

    US


  South America



  Middle East and Africa

By End-user Insights

The enterprises and SMEs segment is estimated to witness significant growth during the forecast period. In the modern business landscape, coworking spaces have gained significant traction as an innovative solution for enterprises and small to medium-sized businesses (SMEs). These flexible workspace environments cater to the expanding needs of companies, enabling them to accommodate a diverse workforce and foster collaboration. The United States, home to a large number of SMEs, is witnessing a notable trend toward coworking spaces due to their numerous advantages over traditional office leases.

Further, SMEs form the backbone of the American economy, accounting for approximately 95% of all businesses and generating around 50% of the private sector employment, according to the Small Business Administration. Informal and formal SMEs collectively contribute to over 60% of the country's net new jobs annually. In the real estate sector, landlords, developers, and real estate brokers have recognized the potential of coworking spaces and are investing in this growing market. Technological improvements, including high-speed internet, advanced security systems, and flexible workspace design, further enhance the appeal of coworking spaces for businesses.

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The enterprises and SMEs segment accounted for USD 6.68 billion in 2018 and showed a gradual increase during the forecast period.

Regional Insights

APAC is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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Another region offering significant growth opportunities to vendors is North America. The market in North America has experienced substantial expansion in recent years, driven by the proliferation of startup communities, the increasing preference for flexible work environments among both individuals and corporations, and technological advancements, including data analytics and cloud computing, enabling remote work. These factors have made coworking spaces an attractive and cost-effective alternative to traditional offices, leading to their widespread a

In the second quarter of 2024, the most expensive coworking type in the United States was dedicated desks, with a median monthly subscription of 300 U.S. dollars. Open workspaces followed, with a median monthly subscription of 149 U.S. dollars, while the least expensive option was virtual offices, with a median monthly subscription of 119 U.S. dollars. Nationwide, Regus was the coworking operator with the largest number of locations.

UAE Co working Space Industry is Segmented by Business Type (New Spaces, Expansions, and Chains), Application (Information Technology [IT and ITES], Legal Services, BFSI, Consulting, and Other Services), End User (Small to Medium-sized Enterprises [SMEs] and Large-scale Corporations), and Geography (Abu Dhabi, Dubai, Sharjah, and Other Cities). The market size and forecasts are provided in terms of value (USD million) for all the above segments.

In the second quarter of 2024, the leading coworking operator in the United States was Regus, with 980 coworking spaces. This was almost five times more than the second operator in the ranking, HQ, which had 214 coworking spaces. Spaces closed the ranking with 138 coworking spaces. In the same period, the largest number of coworking locations in the U.S. was found in Los Angeles. When it comes to square footage of coworking space, Manhattan was the largest market.

Liste des espaces de coworking disponibles en France.

United States Coworking Office Space Market size was valued at USD 2.0 Billion in 2023 and is projected to reach USD 4.57 Billion by 2031, growing at a CAGR of 10.9% from 2024 to 2031.

Key Market Drivers:

Key Market Drivers:
Accelerating Remote Work Culture: The shift towards hybrid and remote work models is fundamentally transforming the workplace preferences, driving professionals to seek flexible workspace solutions. According to the U.S. Bureau of Labor Statistics’ 2024 report, 27.2% of employed persons did some work from home on an average day.

Rising Entrepreneurial and Startup Ecosystem: The startup ecosystem continues to flourish, creating sustained demand for flexible office solutions that offer scalability. These spaces are providing essential infrastructure and networking opportunities for emerging businesses. Coworking environments reduce initial capital expenditure and operating costs for new ventures.

The coworking spaces listed are currently only located within the City of Melbourne municipal boundary. The list is not exhaustive. There may be other coworking spaces within the City of Melbourne municipality.

Coworking is a new but fast-growing trend in the United States - from only 14 spaces in 2007, the number of coworking and other shared, collaborative office spaces increased to 4,043 in 2017.

Coworking

Coworking is where a group of different workers, usually employed by different organizations or self-employed, use a common, shared workplace. Generally the workers will also share a common set of values, with social factors being the most often-cited reasons for choosing a coworking space. Typically the practice is associated with the IT and media startup culture. Accordingly, relatively smaller cities associated with this scene, such as Berlin, Melbourne and San Francisco, have a disproportionately high number of coworking centers.

Global coworking market

The growth in coworking is a global trend, with the total number of spaces worldwide predicted to have reached 18,900 in 2018 – more than double the 2015 figure. Not only is the number of spaces growing, but each space is also becoming busier, with the average number of members per space increasing threefold over the same period. The two largest coworking space operators, at least in the U.S. market, are Regus and WeWork.

The Australian Coworking Spaces Market Report is Segmented by Type (Flexible Managed Office and Serviced Office), Application (Information Technology [IT and ITES], Legal Services, BFSI [Banking, Financial Services, and Insurance], Consulting, and Other Services), End User (Personal User, Small-Scale Company, Large-Scale Company, and Other End Users), and Key Cities (Sydney, Melbourne, and Perth). The Report Offers Market Size and Forecasts for the Australian Coworking Office Spaces Market in Value (USD) for all the Above Segments.

The Indian Co-Working Office Space Market Report is Segmented by Type (Flexible Managed Office and Serviced Office), Application (Information Technology (IT and ITes), Legal Services, BFSI (Banking, Financial Services, and Insurance), Consulting, and Other Services), End User (Personal User, Small Scale Company, Large Scale Company, and Others), and Key Cities (Delhi, Mumbai, Bangalore, and Other Cities). The Market Size and Forecasts for the India Co-Working Office Spaces Market are Provided in Terms of Value (USD Billion) for all Above Segments.

In the second quarter of 2024, the leading coworking market in the United States by square footage was Manhattan, with almost 12 million square feet of coworking spaces. Although Los Angeles ranked third, it had the largest number of coworking locations in the country.

The global Co-working Space market earned around USD 10.53 Billion in 2023 and is expected to reach USD 35.63 Billion by 2032, with a projected CAGR of 14.5%.

The global share office spaces market was valued at 41.4 billion U.S. dollars in 2024. By 2029, the market was forecast to grow to 62.75 billion U.S. dollars.

The Scheduling Tools for Coworking Spaces market has emerged as a pivotal segment within the broader coworking industry, facilitating seamless management of shared workspaces and improving operational efficiency. As more businesses and freelancers seek flexible working environments, the demand for sophisticated sche