The Business Research Company’s Coworking Space Global Market Report 2021 – COVID-19 Growth And Change
LONDON, GREATER LONDON , UK, September 7, 2021 /EINPresswire.com/ — The coworking spaces market is majorly determined by the increase in the number of start-ups globally. According to thegeniuswork.com publication in October 2019, the global start-up economy was worth $ 3 trillion in 2019, with a rise of 20% from 2017 and 2018. 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. Besides, advanced manufacturing and robotics, agriculture technology and new food, blockchain, and artificial intelligence, big data, and analytics were the fastest growing start-up sub-sectors globally. Therefore, the rise in the number of startups across various industries globally increased the demand for coworking spaces, driving the market during the forecast period.
The global coworking space market size is expected grow from $7.97 billion in 2020 to $8.14 billion in 2021 at a compound annual growth rate (CAGR) of 2.1%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The coworking market size is expected to reach $13.03 billion in 2025 at a CAGR of 12%.
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Major players covered in the global coworking space industry are Wework, Regus Corporation (IWG Plc), Mix Pace, Knotel, Inc., SimplyWork, District Cowork, Premier Workspaces, Krspace, Convene, Servcorp Limited, Novel Coworking, TechSpace, Inc., SOMAcentral, HackerLab, Industrious, UCOMMUNE, Your Alley, Impact Hub, Serendipity Labs, Make Office, Green Desk, Venture X, Office Evolution, CommonGrounds Workplace, Intelligent Office, Studio.
TBRC’s coworking space market analysis report is segmented by business type into open/conventional coworking spaces, corporate/professional coworking spaces, others, by end use into finance, legal services, marketing, technology, real estate, consulting services, others, and by user into enterprises, freelancer, others.
Coworking Space Global Market Report 2021 – By Business Type (Open/ Conventional Coworking Spaces, Corporate/ Professional Coworking Spaces), By End Use (Finance, Legal Services, Marketing, Technology, Real Estate, Consulting Services), By User (Enterprises, Freelancer), COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides coworking space market overview, forecast coworking space market size and growth for the whole market, coworking space market segments, and geographies, coworking space market trends, coworking space market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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