The global economy recorded positive economic growth in 2017 as well as in 2018 and the IMF forecast for the global economy is at 3% for 2019 and 2020. As global economic indicators remain largely favourable, the global co-working space industry showed great promise and recorded double-digit value growth during 2013-18.
The global sharing economy continues to register strong growth and there are thousands of sharing economy platforms operating in multiple sectors around the world including co-working space. Access over Ownership has become a global trend as digital and mobile technologies are making it easier to access goods and services on demand.
The global co-working space market exhibited strong double-digit value growth as a startup with less than 50 employees can save up to 25-30% in rental costs and the number of these spaces has been increasing worldwide. As of 2019, about 27% of co-working spaces are located in the US, particularly in New York and San Francisco. Co-working has gained popularity in Europe as well, especially, after the first European co-working conference, held in Belgium in 2010. In Asia, it has been spreading in China, Japan, Singapore, and India.
The global number of co-working spaces is estimated to be over 18,000 in 2019, which grew with a strong CAGR of over 29% during 2013-18. The same is forecast to touch 36,000 by 2025 on the back of growing demand for flexible offices in US, UK, China, India, and other countries. Entrepreneurs, start-ups, and freelancers are focusing on convenience, price and flexibility and this is fuelling strong growth of co-working space across the globe. Millennial generation coupled with growing start-up culture is creating the need for low-cost flexible co-working spaces.
As far as competitive landscape is concerned, WeWork leads the market, with over 400,000 members across the globe and around 43% revenue coming from outside the United States. The market leader is followed by Regus and Ucommune. As of 2018, the top three companies account for over 48% market share in Global Co-working space market.
This report covers the following key areas:
Global Co-working Space Market Size, Share & Forecast
Region Wise Analysis: By Country (US, UK, China, Germany, Japan, India, France, Australia, Brazil, Singapore, Netherlands, Canada, Mexico and Others) and By Company
Key Industry Drivers & Challenges
Market Trends & Developments
Why You Should Buy This Report?
To have a comprehensive understanding of Global Co-working Space market
To help Co-working Space companies in making an informed decision through in-depth knowledge of the macro drivers, challenges and on-going industry trends
To obtain a competitive advantage over your rivals
To add weight to presentations and marketing material
91Springboard Business Hub Pvt Ltd
Awfis Space Solutions
IWG plc (Regus)
Kr Space Ltd
Nash Work Entrepreneurship Technology Beijing Co., Ltd.
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