Please Wait.....
Report
Asia Pacific Co-Working Office Spaces - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2025 - 2030)
Market Report I 2025-04-28 I 150 Pages I Mordor Intelligence
The Asia Pacific Co-Working Office Spaces Market size is estimated at USD 47.20 billion in 2025, and is expected to reach USD 63.37 billion by 2030, at a CAGR of 6.07% during the forecast period (2025-2030).
Key Highlights
- Corporate companies are increasingly embracing the coworking concept, driven by reduced costs and enhanced flexibility. Projections indicate that by the end of 2024, the global tally of coworking spaces will reach approximately 41,975.
- Freelancers, small and medium-sized enterprises (SMEs), and emerging startups are the primary drivers of the co-working space sector. Even large corporations are increasingly turning to co-working spaces, attracted by their premium facilities at competitive prices. The rapid growth of the sector can be attributed to a surge in well-funded startups. Additionally, the rising population of digital nomads in nations such as China and India further propels the expansion of co-working spaces.
- The Asia-Pacific region, demonstrating a strong interest in flexible office spaces, is home to nearly one-third of all co-working spaces globally.As reported by Industry Associations, projections indicate that by 2025, the Asia-Pacific region will boast 3.86 million flexible workspace desks. Major cities like Melbourne, Singapore, Hong Kong, and Mumbai are at the forefront, witnessing significant growth in flexible and co-working office centers.
APAC Co-Working Office Spaces Market Trends
Flexible Managed Offices Propel Market Growth
As demand for adaptable workspaces surges in the region, flexible managed offices are becoming the go-to solution for businesses prioritizing agility and cost-effectiveness. This sector's rise is a key driver of the market's expansion. Flexible work empowers employees with choices about where, when, and how they operate. By offering diverse workspace types, companies grant their teams enhanced control over their work environments.
In 2024 Industry Association survey indicates that over 60% of regional companies have stabilized their office attendance, signaling a broad acceptance of flexible and hybrid models as the future norm. Interestingly, while 32% of firms foresee an uptick in office usage, a mere 4% predict a decline. Furthermore, the survey notes that 43% of Asia Pacific firms have hit an impressive utilization rate of 80% or more. Such trends offer companies a chance to realign their workplaces with shifting work styles, enhancing their appeal to top talent.
Major cities are witnessing a surge, with both startups and established firms gravitating towards flexible managed offices to better accommodate project-based teams and promote collaboration. For example, Bengaluru has taken the lead in the Asia Pacific's flexible office space arena, surpassing renowned cities like Shanghai, Seoul, and Tokyo, as highlighted by Zoltan Properties (a real estate service company) in August 2024. With a commanding 15.5 million square feet of flexible office space by mid-2024, Bengaluru cements its status as the go-to city for businesses in search of adaptable work environments.
In conclusion, the growing preference for flexible managed offices is reshaping the market landscape. Companies are increasingly adopting these adaptable workspaces to meet evolving employee needs and stay competitive in a dynamic business environment.
China and Japan Witnessing Significant Growth in the Sector
China and Japan are witnessing a swift rise in the number of co-working spaces, driven by the surge of start-ups and a growing demand for flexibility among employees and companies. Co-working spaces offer a cost-effective alternative to traditional offices. Notably, many landlords from mainland China are eyeing entry into Hong Kong's flexible working market, a domain historically ruled by local and international investors. This move is seen as a low-risk gateway to the expansive office market.
In Japan, co-working spaces are increasingly favored by freelancers, start-ups, and small to medium-sized enterprises (SMEs). These spaces boast premium features, including high-speed internet, round-the-clock access, meeting rooms, and both furnished and unfurnished options. As of 2024, S-Tokyo (Nihobashi) has emerged as a frontrunner, offering distinctive amenities tailored to diverse needs, as highlighted by Digital Nomad Asia in October 2024.
In Q1 2024, Hong Kong's Central district recorded an average monthly rent of USD 122.59 per square meter for grade A office spaces, making it the priciest office real estate in the city. When stacked against other major cities in the Asia-Pacific, Hong Kong's grade A office rents topped the charts. This premium is largely attributed to the popularity of co-working spaces among youthful, burgeoning businesses, especially in sectors like internet, digital services, and media, where entry barriers are notably low.
Co-working office spaces have seen a meteoric rise over the years, with a significant chunk of independent contractors, nascent businesses, and SMEs making the most of these facilities. In conclusion, the co-working space sector in China and Japan is poised for continued growth, driven by the evolving needs of modern businesses and the increasing demand for flexible working environments. This trend is likely to reshape the traditional office market landscape in the region.
APAC Co-Working Office Spaces Industry Overview
The Asia-Pacific co-working office space market features a mix of global and local players. Responding to the surging demand for casual office environments, numerous newcomers are making their mark. To secure a competitive edge, companies are actively pursuing growth strategies, including partnerships, mergers, and acquisitions. Notable players in this arena encompass JustCo, WeWork Management LLC, Spaces, and Hive Worldwide Ltd.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
2.1 Analysis Methodology
2.2 Research Phases
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS AND DYNAMICS
4.1 Current Market Scenario
4.2 Technological Trends
4.3 Industry Value Chain Analysis
4.4 Government Regulations and Initiatives
4.5 Insights on Co-working Start-ups in Asia-Pacific
4.6 Market Dynamics
4.6.1 Market Drivers
4.6.1.1 Grwoth of Startups and SMEs
4.6.1.2 Changing Workplace Dynamics
4.6.2 Market Restraints
4.6.2.1 Economic Uncertainty
4.6.2.2 High Real Estate Costs
4.6.3 Market Opportunities
4.6.3.1 Technology Integration
4.6.3.2 Sustainability and Wellness
4.7 Industry Attractiveness- Porter's Five Forces Analysis
4.7.1 Threat of New Entrants
4.7.2 Bargaining Power of Buyers/Consumers
4.7.3 Bargaining Power of Suppliers
4.7.4 Threat of Substitute Products
4.7.5 Intensity of Competitive Rivalry
4.8 Impact of Geopolitics and Pandemic on the Market
5 MARKET SEGMENTATION
5.1 By End User
5.1.1 Information Technology (IT and ITES)
5.1.2 BFSI (Banking, Financial Services, and Insurance)
5.1.3 Business Consulting & Professional Services
5.1.4 Other Services (Retail, Lifesciences, Energy, Legal Services)
5.2 By User
5.2.1 Freelancers
5.2.2 Enterprises
5.2.3 Start Ups
5.2.4 Others
5.3 By Geography
5.3.1 China
5.3.2 India
5.3.3 Japan
5.3.4 South Korea
5.3.5 Australia
5.3.6 Rest of Asia-Pacific
6 COMPETITIVE LANDSCAPE
6.1 Current Market Concentration
6.2 Company Profiles
6.2.1 the Hive Worldwide Ltd.
6.2.2 WeWork Management LLC
6.2.3 Spaces
6.2.4 JustCo
6.2.5 Servcorp
6.2.6 Compass Offices
6.2.7 The Work Project Management Pte Ltd.
6.2.8 GARAGE SOCIETY
6.2.9 THE GREAT ROOM
6.2.10 IWG
6.2.11 WOTSO Limited
6.2.12 The Executive Centre*
7 FUTURE OF THE MARKET
8 APPENDIX
8.1 Macroeconomic Indicators (GDP Distribution, by Activity)
8.2 Economic Statistics - Transport and Storage Sector Contribution to Economy
8.3 External Trade Statistics - Exports and Imports by Product and by Country of Destination/Origin
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security