The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The increase in the number of start-ups globally are expected to drive innovation in coworking space manufacturing, thus driving the market during the forecast period.

The global coworking space market is expected to grow from $16.17 billion in 2022 to $19.05 billion in 2023 at a compound annual growth rate (CAGR) of 17.8%. The global coworking space market size is expected to grow to $34.99 billion in 2027 at a CAGR of 16.4%.

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Global Coworking Space Market Segments Include:

• By Business Type: Open/ Conventional Coworking Spaces, Corporate/ Professional Coworking Spaces, Other Business Types
• By End Use: Finance, Legal Services, Marketing, Technology, Real Estate, Consulting Services, Other End Uses
• By User: Enterprises, Freelancer, Other Users”
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global coworking space market in 2021.

Major Market Players in the coworking space market include Wework, Regus Corporation (IWG Plc), Mix Pace, Knotel Inc., SimplyWork, District Cowork, Premier Workspaces, Krspace, Convene, Servcorp Limited.

The development of sustainable coworking spaces is a major trend shaping the coworking spaces market. Coworking spaces are implementing eco-friendly measures in the workplace to attract entrepreneurs concerned with environmental issues such as global warming. Sustainable practices adopted by coworking space providers offer substantial benefits and are economically feasible. For instance, CoCoon in Hong Kong has a floor made of natural bamboo and uses non-toxic paints and LED lights. In addition to this, drought-resistant plants are part of the interior and exterior. Another such example is Green Spaces in Denver uses about 160 solar panels on the roofs of its offices. These allow significant cost savings at Green Spaces. Thus, sustainable coworking space is a key trend in the coworking spaces market.

The Coworking Space Global Market Report 2023  provides a coworking space market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The coworking space market forecast analyzes coworking space market size, coworking space market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

A coworking space is a shared or collaborative office space shared by many individuals or businesses located in the same buildings, provided on a rental basis by the property owners, and that helps employees replicate the sense of community that may be lacking in the virtual workplace.

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