Over the last few years, coworking has become an exceedingly popular option. By sharing workspace with other companies, businesses are able to cut costs and still provide employees with a dedicated workspace.
There are distinct benefits for employees as well. These spaces give remote employees access to a professional workspace and the chance to network with those sharing the space. Users cite an increase in productivity and a chance for collaboration with other office mates as the primary motivations for choosing this work environment.
The Top Coworking Statistics to Consider in 2019 (Editor’s Choice)
- In 2017, 1.18 million people worked in a shared space.
- 43% of businesses believe a good coworking space should foster team building and collaboration.
- So far in 2019, there are 6,923 flexi-workspaces in America.
- In the US, the number of people using coworking spaces increased from 300 in 2010 to 4,000 in 2017.
- By 2022, 13% of businesses outside the US will use shared workspaces.
- In 2017, the global coworking statistics showed American workers accounting for 45% of the industry.
- The number of workers using these spaces will almost double between 2017 and 2022.
- In 2019, there was an average of 185 members per coworking space worldwide.
- In June 2019, London had the most coworking offices in the world.
- In 2018, the number of coworking spaces increased by 16% in the US and 36% in the rest of the world.
Coworking Space Statistics
1. Hackerspaces are considered the precursor to co-working spaces.
The first hackerspace, called C-base, was created back in 1995 in Berlin. At the time, the focus was more on providing a space where people could collaborate—it offered more than just a desk and chair to use. Since then, these spaces have evolved to incorporate many more benefits. It was a pivotal moment in the history of coworking.
Source: Coworking Resources
2. 55% of those using a coworking space still work in the same one they started out in.
Users who find the right space are loath to leave it, as long as the space is convenient and well maintained. As the industry has started to mature, companies are moving toward locking clients into longer-term leases.
3. We’re moving away from the traditional 9 to 5 working model.
According to data gathered on coworking spaces, Statista found that 80% of people in Japan see flexible working as the way of the future. In Germany, this number drops to 68%. All over the world, we’re redefining the limits of what the typical work environment is like.
4. 65.3% of companies offering this service have just one property on their books.
26.2% of these businesses go on to open a second location. Only 8.6% branch out to offer more than two locations or start franchising. The coworking space demand has been high over the last few years, prompting more expansion in this industry.
Source: Coworking Resources
5. 60% of coworking space providers admit it’s challenging to sign up new members.
Part of the problem is that the market is very competitive. Another is that there are a lot of misconceptions about how well the concept works. Companies express the concern that staff may get distracted. Also, in industries where security is a big concern, companies may not be willing to risk working in a shared environment.
6. Shared spaces offer more benefits than conventional office arrangements.
Members are able to be more flexible about working arrangements. They’re also able to network more easily and form a stronger sense of community.
Source: Harvard Business Review
What It’s Like to Work in the Shared Workspace Industry
7. Interactions may decrease by 70% in this environment.
For those companies concerned that other workers would be too much of a distraction, this Royal Society study could provide some reassurance. The study found that face-to-face communication decreased by 70% in open coworking environments.
Source: The Royal Society
8. 43% of the businesses that have adopted this measure have a staff complement of under 1,000.
Large corporate companies are also starting to explore these spaces, but for the moment, the lion’s share of business in this industry comes from small to medium enterprises.
9. 62% of the millennial generation already works in this kind of environment.
Coworking space trends for 2019 show that millennials are the most likely group to make use of these offices. Millennials have redefined a lot of what’s seen as the conventional work environment. This option appeals to them because it allows for more sustainable and effective use of resources.
10. Baby boomers only make up 5% of this market.
It seems that some habits are hard to break. Baby boomers appear to prefer working in a more traditional space.
11. It might be better to avoid a very large space with a lot of other workers, though.
According to the University of California, it takes around 23 minutes for you to regain your focus after being interrupted. Future coworking trends should include the fact that too many people sharing the same space can cause issues.
Source: University of California
12. 73% of businesses find that a mostly open spatial set-up is most conducive to productivity.
What do they mean by “mostly open?” This could be where there are cubicles that have been created, or where there’s a closed office available for certain functions. Having a completely open space is considered too much of a distraction.
13. 33% of businesses using shared space want the latest technology and tools to be provided there.
The companies don’t expect items like computers to be included. They would, however, expect for there to be printers, phones, and possibly fax machines.
14. According to the coworking statistics, 43% of businesses believe that a good office space should foster team building and collaboration.
One advantage of working in a shared environment is that you’re able to bounce ideas off other users. They may not work at the same company as you, but they can still provide a good sounding board and possibly even some inspiration.
The State of the Industry in the US
15. The number of coworking spaces in the US increased from just 22 in 2007 to 4,528 in 2018.
There’s no question that coworking has redefined our views on the traditional office environment. Coworking occupancy rates are bound to increase even more in the future.
Source: Small Biz Labs
16. In 2018 in New York, you’d pay an average of $1,063 per space or desk.
The prices for the space depend on the location. Naturally, it’s going to be in line with what the standard rentals for the area are. That’s why it’s worthwhile to consider an office in a less popular area to save money.
17. So far in 2019, there are 6,923 flexi-workspaces in America.
How many coworking spaces are there? In the US alone, we have close to 7,000 spaces. A workspace here is classified as the whole office or building being used in this manner.
18. In 2017, Boston was the most expensive city to rent a shared area.
In 2017, you were looking at an average cost of $1,889 per space in Boston. This was above the norm, even for a large city like New York.
19. The average starting price for shared spaces in the US was $939 at the beginning of 2018.
Coworking statistics from 2018 tell us that the price you’ll pay depends on the city you’re in. It also depends on the supply and demand for the space. If space is at a premium, as it is in New York, you can expect to pay a higher price.
20. In the US, the number of people using coworking spaces increased from 300 in 2010 to 4,000 in 2017.
The US is where this concept was first applied. Businesses have been quick to take advantage of this kind of work environment. They get to save on costs by only renting the space that they need. Depending on the space, they may also save by sharing resources such as copiers, phones, and so on.
21. Additional coworking statistics show that by 2022, 6% of business in the US will be conducted from these spaces.
It makes sense for companies to look for alternative solutions when it comes to cost-cutting. A shared workspace is an excellent way to cut back on expenses.
22. By 2022, 13% of businesses outside the US will be using shared workspaces.
The drivers for this shift include cutting costs and saving space. Office space in larger metropolitan areas is severely limited. Coworking helps to alleviate some of the issues with space.
23. In 2017, 542,000 people in the United States worked out of shared spaces.
While the year on year coworking growth in these spaces is slower in the US, it’s still one of the major players in the industry.
24. In 2017, American workers accounted for 45% of the global coworking industry.
Americans were early adopters of this trend. The fact that almost half of the workers sharing space globally are Americans proves this. It might also account for the slower growth of the industry in the States over the last few years.
25. In terms of the market share of these coworking spaces, Statista shows that Manhattan had the biggest share in the States in 2018.
Considering the cost of renting property in Manhattan, this makes sense. Even a small office space can set you back significantly. By choosing a shared space, companies only need to pay a fraction of the price, and they can upgrade or downgrade the amount of space they require.
Nevertheless, it’s not just larger cities that are benefitting. It might surprise you to learn that smaller cities tend to have a higher percentage of these workspaces.
The Global Coworking Space Industry Analysis
26. In 2017, 1.18 million people worked in a shared space.
The business model works well for freelancers in particular. That said, more and more corporate companies are taking advantage of this model.
27. It’s estimated that the number of people using coworking spaces will almost double between 2017 and 2022.
The number of US workers in these spaces is estimated to reach 1.08 million by 2022. That’s close to double the 542,000 people using the spaces in 2017. It’s clear from the stats that the rise of coworking is not over yet.
28. The number of coworking spaces with 200 desks or more increased from 2% in 2014 to 13% in 2018.
This is in response to the increasing demand for the service—it’s also a great way to maximize a property’s ROI.
29. The average number of spaces and workers has been increasing steadily.
Between 2015 and 2018, the number of spaces available more than doubled. The number of members in each space tripled at the same time, indicating a sharp rise in the popularity of coworking spaces.
30. The number of spaces offering this service is set to increase by 2,200 between 2017 and 2022.
We can also expect to see a wider range of venues. Hotel spaces are looking into this idea in order to supplement their income. There’s a lot of interest in these spaces, meaning there are a lot of property owners wanting to get in on the action.
31. In 2019, there was an average of 185 members per coworking space worldwide.
According to a global coworking survey, there is an average of 185 members per unit. Naturally, the number of people per space will depend on how big the space is.
32. In June 2019, New Delhi ranked as the city with the highest rate of growth in this area.
The number of spaces available in New Delhi grew by 46% over the last year.
33. As of June 2019, London had the most coworking offices in the world.
Coworking industry statistics show that London tops the list when it comes to the total number of spaces. With 1,423 offices spaces available in London, you’ll have the highest range of choices there.
34. Globally, the number of those using coworking spaces has increased from 200 in 2010 to 10,000 in 2017.
Global growth has outstripped that of the United States. There are many factors at play here. Experts attribute this phenomenon to an increase in outsourcing and the ever-growing gig economy.
35. In 2018, the number of coworking spaces increased by 16% in the US and 36% in the rest of the world.
Global coworking statistics show that the rate of growth in the States is currently a lot lower than it is in the rest of the world.
36. Some 35,000 coworking spaces in the world amount to around 521 million square feet of space.
That’s a lot of room to get your work done.
37. Forecasts set the total number of coworking spaces at 22,400 globally by the end of 2019.
That’s phenomenal growth considering that in 2005 there were only three such spaces. Coworking industry statistics suggest that by the end of 2020, we can expect that number to reach 26,300.
38. The Asia Pacific region boasts the highest number of spaces in 2019 in the EMEA region.
The Asia Pacific region includes India, and that’s helped it to attain the top spot. In this area, there are 11,592 spaces. The remaining areas in Europe, Africa, and the Middle East have 6,850 spaces in total, according to recent coworking industry statistics.
39. In London, a new coworking space opens approximately every 5 days.
In the States, New York comes in at a close second with spaces opening around every 7.5 days. This depends on the city you’re in. In Amsterdam, for example, a new space opens up only once in 47.5 days.
Source: Coworking Resources
40. 23% of the top-grade office spaces in big Asian city centers are now shared spaces.
In many of the large cities in Asia, top-notch office space is expensive to rent and can be hard to come by. Sharing empty spaces allows companies to also share resources and have access to top-quality properties.
Coworking Growth Over the Last Few Years
41. The number of operators in the market grew by 135% between 2014 and 2018.
There has definitely been a boom in interest in this sector over the last few years. So is it too late for new players to enter the market? There are still opportunities to be had here. To take advantage of them, though, you’ll need to do your homework properly.
42. The number of centers offering these services grew by 205% between 2014 and 2018.
The coworking space statistics clearly demonstrate a substantial growth rate over this four-year period. It’s indicative of people’s changing attitudes toward flexi-spaces.
43. Spaces within retail properties like malls are set to grow as much as 25% annually until 2023.
Malls and retail spaces offer an interesting option here. They’re conveniently located and have parking, with easy access to foot traffic. There are a lot of ways to maximize this retail space. Some companies have even toyed with the idea of renting space from restaurants that only open at night.
How Big Is the Coworking Market?
44. Regus is the biggest player in this market.
WeWork comes in second and is especially popular in the States. Knotel and Impact Hub are two other big players.
45. 80% of all the spaces available are divided among the ten biggest operators.
The barriers to entering this market can be high. Property prices are expensive, especially in the kind of prime business areas we’re talking about.
46. In 2018, WeWork and Regus were the largest players in the market.
Both companies have established themselves as industry leaders. Part of the reason they’ve been so successful is that they’ve come up with innovative add-ons. Coworking trends show they’re always tweaking their offerings in accordance with their client’s requirements.
47. WeWork raised $969 million in investments from 2010 to 2015.
The company was started in 2010 by Adam Neumann and Miguel McKelvey. Interestingly enough, it was when Neumann and McKelvey saw some empty space in their office building that they decided to start the company.
48. In 2018, WeWork’s turnover was $1.8 billion.
The company formed around the idea of providing sustainable office spaces. It originally started as Green Desk, with that principle in mind. Neumann and McKelvey sold Green Desk but kept up with the idea of providing more sustainable office space. Their presence in the shared workspace industry has paid off for them in spades.
Source: Coworking Resources
49. WeWork’s turnover increased by 106% from 2017 to 2018.
On the downside, their net loss doubled, reaching the $1.9 billion level. This illustrates the potential downside to this market: buying and maintaining properties is expensive. If those buildings don’t fill quickly, it can take a while to recoup the loss.
50. In the last 4 years, the number of WeWork members has grown from 7,000 to 466,000.
Clearly, this start-up’s business approach works. That said, there are concerns that the market is currently overinflated.
51. The number of WeWork members more than doubled between 2018 and 2019.
As of April of 2018, there were 219,000 members. A clear representation of the rise of coworking, this number increased to 466,000 people by the end of April of 2019.
52. 71% of the individual members using WeWork in 2017–2018 were full-time employees.
We tend to think of these spaces as being mostly for freelancers. But that’s not what the Harvard Business Review learned from a study of 1,000 members. Most of the 71% are remote workers. The remaining 29% are contractors, part-time employees, and business owners.
Source: Harvard Business Review
53. Regus held 11% of the global market in 2019.
We’ve spoken a lot about WeWork, but they’re not the only company to keep an eye on. If you’re analyzing the popularity of coworking spaces, Regus is also a big player in this field.
54. Regus operates in 900 cities spread over 120 countries.
Regus is a European company that started out in 1989. It has since become a global conglomerate with widespread representation.
55. Regus’s holding company, IWG, earned $3.22 billion in 2018.
The holding company was changed to IWG in 2016. It has, however, opted to keep the Regus brand name since it’s so well known.
56. Regus has a total of 9.4 million square feet of property in the US.
WeWork comes in second with 6.5 million square feet of property in the States.
New Trends in Coworking Spaces
57. By 2030, 30% of offices will be based on this model.
Over time, we’re going to see the lines blurring between different use spaces. We’ve already started to see non-traditional venues like hotels and spas renting out extra space. The way that we work has also changed substantially. We’re going to see more unconventional office arrangements coming forward in the future.
58. 35% of members believe that there’ll be a lot of new members in these spaces throughout 2019.
Coworking trends in 2019 show that members are optimistic about the future. The coworking market might be slowing, but it’s far from over. Those already using the system play a pivotal role in promoting the concept.
59. 30% of office owners expect a strong boost in revenue in 2019.
Whether or not they’ll be proven right still remains to be seen. That said, there’s still a lot of room for growth in this market.
60. The year on year growth in space openings were 9.5% between 2018 and 2019.
The coworking statistics for 2019 show that there’s a slowdown in the growth of space openings from the year before. Between 2017 and 2018, year on year growth was 15.2%
Source: Coworking Resources
61. Forecasts predict that the number of spaces available globally will increase by 42% between 2019 and 2022.
We can expect to see at least 25,968 spaces available by 2022.
Source: Coworking Resources
62. If you’ve been keeping track of coworking trends, you’ll know that the market is fast reaching its saturation point.
Before you rush off to become a supplier in this industry, it’s important to do thorough research. Over the last three years, 900 of these spaces have closed. Thanks to the fierce competition in the market, it’s fast becoming saturated. There are even those who believe that this may be a bubble and that the current growth rate is unsustainable.
That’s a wrap. All the coworking statistics that you could possibly need. Flexible workspaces offer companies a unique way to maximize their resources and still provide a professional working environment.