Global Co-working Spaces Market Set for -12.9% Decline Amid Move to Work from Home In Response to COVID-19 Pandemic

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Dublin, Sept. 11, 2020 (GLOBE NEWSWIRE) — The “Coworking Spaces Global Market Report 2020-30: COVID-19 Growth and Change” report has been added to ResearchAndMarkets.com’s offering.

The global coworking spaces market is expected to decline from $9.27 billion in 2019 to $8.24 billion in 2020 at a compound annual growth rate (CAGR) of -12.9%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and reach $11.52 billion in 2023 at CAGR of 11.8%.

The increase in the number of people working from home or remotely owing to COVID-19 lockdown limits the growth of the market. For instance, in March 2020, many companies working from home owing to COVID-19 pandemic, operators of coworking spaces have seen an almost 50% decline in footfalls. Furthermore, according to Business 2 Community publication 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 before the arrival of COVID-19. Nevertheless, the number of people working remotely is tremendously increased owing to the coronavirus outbreak over the last few months. Consequently, declining the revenues generated by the coworking spaces market during 2020.

This report focuses on coworking spaces market which is experiencing strong growth. The report gives a guide to the coworking spaces market which will be shaping and changing our lives over the next ten years and beyond, including the market’s response to the challenge of the global pandemic.

This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider coworking spaces market, and compares it with other markets.

  • The market characteristics section of the report defines and explains the market.
  • The market size section gives the market size ($b) covering both the historic growth of the market, the influence of the COVID-19 virus and forecasting its growth.
  • Market segmentations break down market into sub markets.
  • The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
  • Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
  • The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
  • The coworking spaces market section of the report gives context. It compares the coworking spaces market with other segments of the coworking spaces market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, coworking spaces market indicators comparison.

Scope

Markets Covered:
1) By Business Type: Open/ Conventional Coworking Spaces; Corporate/ Professional Coworking Spaces; Others
2) By End Use: Finance; Legal Services; Marketing; Technology; Real Estate; Consulting Services; Others

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time series: Five years historic and ten years forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

Data segmentations: Country and regional historic and forecast data, market share of competitors, market segments.

Companies Mentioned

  • 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

For more information about this report visit https://www.researchandmarkets.com/r/cce78n

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