Please Wait.....
Report
Global Shared Office Spaces Market - Growth, Trends, Covid 19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 150 Pages I Mordor Intelligence
The global shared office spaces market or the coworking spaces market consists of coworking space rental revenues earned by entities (organizations, sole traders, and partnerships) that provide coworking workspaces on rent or lease. Unlike traditional office rental, the cost of renting coworking workspaces usually covers the use of related services/equipment such as office chairs and desks Internet/Wi-Fi connection, hardware, software, and others. The industry includes businesses that offer non-residential structures with amenities and facilities on a flexible rental basis. The coworking spaces market is majorly determined by the increase in the number of start-ups globally. The growth is backed by the expansion of internet space, exposure to the knowledge of entrepreneurship outside the boundaries of the country, and improved literacy rates.
The increase in the number of people working from home or remotely owing to the COVID-19 lockdown limits the growth of the market. For instance, in March 2020, many companies working from home owing to the COVID-19 pandemic, operators of coworking spaces have seen an almost 50% decline in footfalls. Furthermore, according to industry sources, in April 2020, the number of people working remotely has grown by 44% in the last five years, with 7 million people (3.4% of the population) were working remotely in the USA alone before the arrival of COVID-19.
Shared office Spaces Market Trends
Increase in remote working globally
The COVID pandemic has led to a major paradigm shift in the shared office spaces market globally. More employees are working remotely and are looking for co-working and shared office spaces for better productivity. Demand is mainly coming from larger organizations and enterprises looking to decentralize their workforces into smaller branch offices and remote teams into private flex offices. That demand will be led primarily by private offices, followed by dedicated desks, while hot desks and meeting rooms (for non-members) will take the longest to fully recover. In the long run, all offices will potentially turn into flexible, on-demand spaces and in spite of the challenges faced by many operators in 2020, the potential for the coworking industry to grow and evolve has never been higher.
Before 2020, the office space provider market was more homogenous, owned by a few big companies. Today, the market is seeing new businesses enter the market, resulting in more competitive offerings and niche office space services. Inexpensive offices are becoming more prevalent in certain cities, while demand is pushing prices up in other areas. One statistic shows that the average monthly rate for a coworking space is highest in Washington D.C. (at USD 843), while the lowest is in Houston (USD 220).
Startups and tech firms adopting shared office working model
There has been an exponential increase in the number of tech startups coming u, especially in the Silicon Valley in the USA and also in upcoming markets like China and India. A number of startups are emerging in the Asia Pacific region which will be driving further growth in the shared office spaces market as more and more firms are adopting hybrid and co-working work space models. The number of coworking spaces worldwide is expected to more than double by 2024, and surpass 40,000. By 2022, 13% of businesses outside the USA alone will be using shared workspaces, There were more than 3 million coworkers globally in 2019. This number is expected to nearly double by 2022.
Today, the 10 largest providers of coworking and flexible office space comprise 36% of the market according to Forbes. When it comes to the growing cities with opportunities, New York and London are the world's leading cities when it comes to new spaces opening up. Despite the challenges of last year, the future of the shared office space industry looks bright. Not only is there more competition to drive innovation, but we can also expect shifting attitudes to the way we use and share space with others, particularly to offset the rising cost of traditional office space.
Shared office Spaces Market Competitor Analysis
The global shared office spaces market is fragmented with the presence of many domestic and international players. The companies are investing and raising funds to invest in technology and analytics for better efficiency and services to provide to the end consumer. The companies are growing their influence by offering the best services as per the market demands. The market players from the shared office spaces market are anticipated to have lucrative growth opportunities in the future with the rising demand in remote working, freelancing, and startups looking for co-working.
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
4.1 Current Market Scenario
4.2 Government Regulations and Initiatives
4.3 Technological Trends
4.4 Insights on shared office spaces cost
4.5 Insights on co-working startups
4.6 Industry SWOT Analysis
4.7 Impact of COVID-19 on global shared office space market
5 MARKET DYNAMICS
5.1 Market Drivers
5.2 Market Restraints
5.3 Market Opportunities
5.4 Porter's Five Forces Analysis
5.5 Industry Value Chain/Supply Chain Analysis
6 MARKET SEGMENTATION (Market Size by value)
6.1 By Business
6.1.1 Conventional co-working spaces
6.1.2 Corporate co-working spaces
6.1.3 Others
6.2 By End Use
6.2.1 Finance
6.2.2 Legal Services
6.2.3 Marketing
6.2.4 Real Estate
6.2.5 Technology
6.2.6 Consulting Services
6.2.7 Others
6.3 By User
6.3.1 Enterprises
6.3.2 Freelancer
6.3.3 Other
6.4 By Geography
6.4.1 North America
6.4.1.1 United States
6.4.1.2 Canada
6.4.1.3 Mexico
6.4.2 Asia Pacific
6.4.2.1 India
6.4.2.2 China
6.4.2.3 Singapore
6.4.2.4 Japan
6.4.2.5 South Korea
6.4.2.6 Vietnam
6.4.2.7 Australia
6.4.2.8 Rest of Asia Pacific
6.4.3 Europe
6.4.3.1 Germany
6.4.3.2 United Kingdom
6.4.3.3 Spain
6.4.3.4 France
6.4.3.5 Italy
6.4.3.6 Rest of Europe
6.4.4 Middle East & Africa
6.4.4.1 United Arab Emirates
6.4.4.2 Saudi Arabia
6.4.4.3 Egypt
6.4.4.4 Rest of Middle East
6.4.5 Rest of the world
7 COMPETITIVE LANDSCAPE
7.1 Overview (Market Concentration Analysis and Major Player)
7.2 Company Profiles
7.2.1 Simpliwork
7.2.2 WeWork
7.2.3 Regus Corporation
7.2.4 District Cowork
7.2.5 Novel Coworking
7.2.6 Kr Space
7.2.7 Convene
7.2.8 Servcorp Limited
7.2.9 Green Desk
7.2.10 UCommune
8 FUTURE OF THE MARKET
9 APPENDIX
- 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