New York, July 26, 2022 (GLOBE NEWSWIRE) -- According to the report published by Next Move Strategy Consulting, the global co-working space market generated USD 6.89 billion in 2021, and is estimated to generate USD 24.00 billion by 2030, registering a CAGR of 14.9% from 2022 to 2030. The research provides an extensive analysis of changing market dynamics, highest revenue generating & fastest growing segments, and competitive scenario of the market.
Wrapping the entire analysis and statistics in 285 pages containing 384 tables and 173 figures, the report aims to help market players, new entrants, stakeholders, and investors devise new strategies and take strides to raise the co-working space market share. The research also highlights Covid-19 analysis and its overall impact on the market size.
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| Report Coverage | Details |
| Forecast Period | 2022–2030 |
| Base Year | 2021 |
| Market Size in 2021 | USD 6.89 billion |
| Market Size in 2030 | USD 24.00 billion |
| CAGR | 14.9% |
| No. of Pages | 285 |
| Tables | 384 |
| Figures | 173 |
| Segments covered | Business Type, Business Model, End User, and Geography. |
| Drivers | Rise in number of startups that focus on reducing the cost of office rents |
| Surge in investments in niche co-working spaces such as women-only spaces, LGBTQ+ spaces, and other social groups | |
| Opportunities | Improvement and diversification of co-working spaces |
| Availability of low-cost spaces |
The report discusses driving factors, restraining factors, and opportunities of the global co-working space market. These factors are influential in determining the future scope of action and achieve a sustainable growth. Rise in number of startups that focus on reducing the cost of office rents and surge in investments in niche co-working spaces such as women-only spaces, LGBTQ+ spaces, and other social groups drive the growth of the global co-working space market. However, low awareness regarding these spaces and the misconception that these spaces are for IT sector restrain the market growth.
Highlighting the opportunities that would help market players and investors in raising the overall co-working space market size in the next few years, the Lead Analyst for the ICT & Media category at Next Move Strategy Consulting, highlighted, “Improvement and diversification are two major factors that are attracting many freelancers, startups, and business owners in opting for co-working spaces. In addition, availability of low-cost spaces is another factor that will make a huge impact in presenting opportunities in the next years.”
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The research provides an extensive analysis of key segments and their sub-segments of the global co-working space market. It highlights highest revenue generating and fastest growing segments of the market. The report analyzes the key segments including business type, business model, end user and geography. Based on business type, the report sub-segmented the market into conventional coworking, professional coworking, and others. By business model, the research sub-divides the market into revenue sharing model, sub-lease model, and owner-operator model. Based on end user, the report sub-classifies the market into independent professionals, startup teams, and small to medium sized enterprises (SMEs).
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Based on geography, the research sub-segments the market into North America, Europe, Asia-Pacific, and RoW. According to the report, North America held the largest share in 2021, and will maintain its largest contribution in terms of revenue during the forecast period. This is due to increase in adoption of flexible work practices, surge in remote working teams, and availability of service offices. On the other hand, Asia-Pacific is estimated to grow steadily during the forecast period, owing to rise in awareness regarding co-working spaces among population in this region.
The report analyzes each region and its respective countries on the basis of aforementioned segments and sub-segments. This helps in devising expansion strategies and raising stakes in the global co-working space industry.
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The report highlights and analyzes leading market players operational in the global co-working space market. These market players include Regus Group Companies, Knotel Inc., TechSpace Inc., District Cowork, SimplyWork, Kr Space, Premier Workspaces, Servcorp Limited, Convene, and Novrl Coworking. The report also analyzes the strategic moves and developments adopted by these players along with business segments to outline competitive scenario.
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Next Move Strategy Consulting is a premier market research and management consulting firm that has been committed to provide strategically analyzed well documented latest research reports to its clients. The research industry is flooded with many firms to choose from, what makes Next Move different from the rest is its top quality research and the obsession of turning data into knowledge by dissecting every bits of it and providing fact-based research recommendation that is supported by information collected from over 500 million websites, paid databases, industry journals and one on one consultations with industry experts across a diverse range of industry sectors. The high quality customized research reports with actionable insights and excellent end-to-end customer service help our clients to take critical business decisions that enable them to move beyond time and have competitive edge in the industry.
We have been servicing over 1,000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicate as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solutions that range from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.
