Millions of people are choosing coworking spaces. Do you you know why? The reasons is - whether if they are a freelancer, startups or even big companies, they are all now taking interest in coworking spaces. Currently, the number of cowerkers are around 5 million in the world. One of the core coworking space benefits is the level of flexibility it offers: whether you want a change of space, a professional environment, or an opportunity to network, coworking spaces have all of those as well.
The Asia Pacific region takes the top spot with 11,592 shared working spaces in the region, and many such spaces are present in India. Co-working spaces are an overall global phenomenon that is spreading rapidly. Based on the coworking space statistics, the number of companies and people opting for these spaces is increasing because of their convenience and collaborative environment. Be if you are a solo, entrepreneur or a member of a large team, coworking spaces can fit your requirements, hence ideal spaces for today's workers.
Coworking Space Statistics You Should Know
Coworking spaces have influenced how we work. Here are some of the most important coworking space statistics underlining growth and the impact:
- The global market value of flexible workspaces is about $26 billion.
- Coworking office spaces will grow year over year at 13%.
- 72% of shared office spaces break even in the first two years after launching operations.
- 61% of coworking operators generate income from rented desks.
- 89% of members report feeling happier after joining a coworking space.
- 84% of coworkers say they feel motivated and engaged in this environment.
- 37.93% of SMEs use co-shared workspaces.
- 36 years is average age of coworkers.
These coworking trends shows the reality that the importance of such places are here to stay. They contribute to increased happiness and higher engagement levels among people and businesses alike. The increasing revenue figures point to the fact that the number of people going for such shared office spaces is on the rise.
Top Biggest Coworking Space Companies of 2024
In 2024, the coworking space industry continues to grow, driven by the demand for flexible workplaces collaborative environments. Here are the leading companies shaping the future of coworking:
| Rank | Company | Locations | Notable Features |
| 1 | Regus | 3,000+ | Offers virtual offices, meeting rooms, and business lounges; a global pioneer in coworking spaces. |
| 2 | Industrious Office | 135 | Expansive reach, with a focus on integrating office and residential spaces. |
| 3 | Spaces | 466 | Artistic designs, fostering collaboration; strong presence in the Bay Area and major U.S. cities. |
| 4 | Premier Workspaces | 87 | Offers a professional atmosphere with flexible terms for businesses of all sizes. |
| 5 | Office Evolution | 81 | Strong domestic footprint, focusing on key states like California, Florida, Texas, and New Jersey. |
| 6 | Workstyle Flexible Spaces | 27 | Dominant in Texas, providing flexible work environments tailored for local markets. |
| 7 | Mindspace | Multiple | Boutique coworking spaces aimed at creative professionals, with a vibrant community atmosphere. |
| 8 | HQ Global Workspaces | 27 | Extensive experience in the market, with a significant presence in Texas and California. |
| 9 | Expansive Workspace | Multiple | Owns and develops operational sites, focusing on Phoenix and Chicago for strategic location growth. |
| 10 | Lab T.O | 1 | Combines coworking space with a tech lab, ideal for startups and digital creatives in Toronto. |
| 11 | Intelligent Office | 10 | Seasoned provider with a strong focus on strategic cities across the U.S. |
| 12 | ConnexionWorks | 1 | Community-centric, fostering growth and collaboration among entrepreneurs and small businesses. |
| 13 | 91springboard | Multiple | Cornerstone of India's coworking scene, promoting community and collaboration. |
| 14 | Innov8 | Multiple | Modern environments designed for entrepreneurs, focusing on innovation and collaboration. |
| 15 | Awfis | Multiple | Technology-driven spaces catering to a diverse workforce across India. |
| 16 | Smartworks | Multiple | Blend of functionality and aesthetic design tailored for energizing work experiences. |
| 17 | Talent Garden | 17 | Leading provider in Europe, designed for digital professionals with a strong focus on innovation. |
| 18 | The Hive | 23 | Supports a vibrant community with shared and private office spaces, encouraging collaboration. |
| 19 | Venture X | 50+ | Franchise model providing modern workspaces with flexible plans for diverse business needs. |
Countries with the Most Shares in the Coworking Space Industry
The coworking space industry is thriving globally, with certain countries leading the way in the number of coworking spaces and their market share. Here are the coworking space statistics about the top countries contributing significantly to the coworking landscape:
| Rank | Country | Number of Spaces | World Share |
| 1 | United States | 3,762 | 18.30% |
| 2 | India | 2,197 | 10.69% |
| 3 | United Kingdom | 1,044 | 5.08% |
| 4 | Spain | 939 | 4.57% |
| 5 | Germany | 791 | 3.85% |
| 6 | Canada | 617 | 3.00% |
| 7 | Australia | 590 | 2.87% |
| 8 | Mexico | 508 | 2.47% |
| 9 | Japan | 411 | 2.00% |
| 10 | Brazil | 393 | 1.91% |
Average Coworking Space Square Footage: Q2 2024 vs. Q1 2024
The table below highlights the average square footage of coworking spaces in various major U.S. cities, comparing figures from Q2 2024 to those from Q1 2024. This data illustrates coworking space market trends in allocation and usage within the industry.
| City | Q2 2024 (sq. ft.) | Q1 2024 (sq. ft.) |
| Manhattan | 45,020 | 47,730 |
| Brooklyn | 29,450 | 26,700 |
| San Francisco | 26,940 | 27,970 |
| Chicago | 26,060 | 25,940 |
| Washington, D.C. | 23,940 | 24,970 |
| Los Angeles | 23,280 | 23,950 |
| Boston | 22,820 | 23,560 |
| Salt Lake City | 22,380 | 22,580 |
| Indianapolis | 22,070 | 21,960 |
| Bay Area | 21,020 | 23,800 |
| Austin | 20,950 | 21,140 |
| Orange County | 20,910 | 21,190 |
| Miami | 20,530 | 20,510 |
| Nashville | 20,460 | 21,260 |
| Seattle | 20,320 | 21,660 |
| Raleigh - Durham | 20,200 | 20,360 |
| Dallas - Fort Worth | 19,830 | 19,800 |
| Houston | 19,740 | 19,810 |
| Atlanta | 19,300 | 20,240 |
| Philadelphia | 18,720 | 19,140 |
| Phoenix | 18,230 | 18,390 |
| National Average | 18,130 | 18,920 |
| Minneapolis - St. Paul | 17,430 | 17,290 |
| Denver | 16,690 | 16,700 |
| San Diego | 16,220 | 16,770 |
| New Jersey | 16,200 | 16,100 |
Coworking Industry Growth Revenue and Trends
As coworking spaces continue to thrive, the revenue generated from them is significant. In fact, about 40% of coworking spaces are profitable, according to the second Global Coworking Survey. While it takes time for some spaces to turn a profit, 72% of all coworking spaces become profitable after more than two years in operation. In North America, the average size of a coworking space is about 9,799 square feet, accommodating around 100 people. This setup allows for roughly 100 square feet per person.
Interestingly, large companies represent 65% of WeWork's customers as of June 2020. This shows that even established companies are turning to shared workspaces to meet their needs. The coworking space revenue generated from these spaces comes primarily from the renting of desks, proving that flexibility and shared resources are valued in today’s working environment.
Coworking Spaces Demographics
Understanding who uses coworking spaces can help us appreciate their popularity.As per the coworking trends, around 65% of coworking members are under 40 years old, with the IT industry having the highest representation among coworkers. Following that are professionals from PR, marketing, and remote sales teams.
Women make up 40% of the coworking demographic, and freelancers represent the largest group in these spaces. It’s also interesting to note that 55% of individuals using a coworking space continue to work in the same location they started in. Many small businesses take advantage of coworking perks, like mailing addresses and meeting rooms, without needing a full membership. Furthermore, 69% of users appreciate the flexibility these spaces offer, while 82% of small business owners report expanding their professional networks thanks to interactions within coworking spaces.
Challenges and Sustainability in Coworking Spaces
While coworking spaces offer numerous benefits, they also face challenges. About 58% of coworking operators cite fluctuations in membership as a major hurdle. Members often mention noise and a lack of privacy as top complaints. Furthermore, 47% struggle with not having enough meeting rooms or event spaces to accommodate their needs.
On a positive note, coworking spaces tend to be more sustainable. They use about 25% less power than traditional offices. Additionally, 62% of these spaces implement sustainability initiatives, like recycling and greener commuting options. By producing 25-50% less greenhouse gas emissions, coworking spaces are not just helping people work better; they are also contributing positively to the environment.
