Coworking Statistics & Trends for 2020
Looking for the most up-to-date statistics on the state of coworking spaces?
To save you time, we have curated a list of the best coworking statistics and broke them down into simple snippets by category.
The number of coworking spaces worldwide is projected to reach almost 20,000 in 2020 (Allwork.Space)
The number of coworking spaces worldwide is expected to more than double by 2024, and surpass 40,000 (Allwork.Space).
By 2022, 13% of businesses outside the US will be using shared workspaces (Allwork.Space).
There were more than 3 million coworkers globally in 2019. This number is expected to nearly double by 2022 (smallbusinessgenius).
Prior to the pandemic, co-working spaces were the fastest-growing type of office space in commercial real estate. While they currently comprise less than 5% of the market, they’re expected to make up 30% by 2030 (CNBC).
Flexible space has been growing at an average annual rate of 23% since 2010 (JLL).
Today, the 10 largest providers of coworking and flexible office space comprise 36% of the market (Forbes).
New York and London are the world’s leading cities when it comes to new spaces opening up (smalbusinessgenius).
The global coworking spaces market is expected to decline from $9.27 billion in 2019 and 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 (Apnews).
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 (Apnews).
42% of the U.S. labor force now working from home full-time. 33 percent are not working – a testament to the savage impact of the lockdown recession. And the remaining 26 percent – mostly essential service workers – are working on their business premises (Stanford News).
A survey found that 48% or employees say they are more productive working from home, 57% would prefer to work from home in the future and 68% have other workers or students also working in their household (PR Newswire).
On average, 40% of coworking spaces are profitable, according to responses to the second Global Coworking Survey (DeskMag).
72% of all coworking spaces become profitable after more than two years in operation (DeskMag).
Leasing space is the largest expense for independent coworking operators.
In June 2020, large companies accounted for 65% of WeWork’s customers (WSJ).
The global market value of flexible workspaces is at approximately $26 billion (Communion Cowork).
65% of people working in coworking spaces are under the age of 40 years old (DeskMag).
The IT industry has the largest number of coworkers followed by PR, marketing, and remote sales teams (DeskMag).
Women make up 40% of the coworking demographic (AskWonder).
Freelancers make up the largest coworking demographic in the world (ErgonomicTrends).
55% of those using a coworking space still work in the same one they started out in (Whattobecome).
A majority of landlords (approximately 72%) believe that working with coworking spaces yields positive results for both their building and their communities (Colliers).
83% of individuals working from coworking spaces feel less isolated and lonely (Hbr).
Smallbiz conducted a survey which shows that 82% of respondents have expanded their professional network since joining a coworking space (Small Business Labs).
The benefits of using a coworking space are compelling enough for 37.93% of small to medium-sized businesses, 27.12% of startup teams, and 16.61% of freelancers to use them (Work Social).
According to GCUC’s survey, 84% of coworkers say working in a coworking hub makes them more motivated (GCUC).