Europe Co-Working Space Market Introduction and Overview
According to SPER Market Research, the Europe Co-Working Space Market is estimated to reach USD XX billion by 2033 with a CAGR 4.98%.
The report includes an in-depth analysis of the Europe Co-Working Space Market, including market size and trends, product mix, distribution channels, and supplier analysis. Coworking spaces allow employees from different companies to share office space, which reduces costs and improves convenience by utilizing the same infrastructure, including utilities, equipment, and other services. This kind of environment appeals to freelancers, distant workers, and independent contractors.
- In July 2024, Techspace, a coworking space operator located in the UK and Germany, will open a large 7.500 m2 space in London's Clerkenwell and prepare to open a new location in Munich. There will be enough for around 1,000 new members and 900 desks at the new facility.
- March 2024: Leading Central European investor Peter KorbaÄka has signed a management deal with infinitSpace, a tech-led provider of flexible workplaces, to open the company's first German presence in Berlin's brand-new Quartier Heidestrasse development.
Market Opportunities and Challenges
Opportunities: In recent years, central London has seen significant growth in the co-working and serviced office industries. About 183,000 square meters of space—13% more than in 2017—were leased to co-working and serviced office operators in 2018. There has been a lot of interest in London submarkets, including the City (40% of deals for flexible office space in m² in 2018), the West End (28%), and the Midtown (17%). Tenants are essentially looking for workspace that allows them to be flexible with their leases while also saving money. This could entail adjustments like reducing lease durations, offering greater incentives, or functioning more as "service providers" as opposed to just "space providers." Furrthermore, Additionally, one of the main factors propelling the coworking space sector is the rise of independent contractors and business owners. Connectivity and communication are key components of coworking. You may make connections with local businesses and investors by running coworking spaces.
Challenges: The growth and sustainability of the European co-working space market may be impacted by a number of issues. The market's saturation is a significant problem, especially in large cities with fierce provider competition like London, Berlin, and Amsterdam. Price wars result from this, and brand value may be diminished. Additionally, firms may reduce their budgets due to economic uncertainties like inflation and geopolitical tensions, which would impact the demand for flexible workspaces. Occupancy rates are complicated by the necessity for hybrid work models as businesses balance the preferences for in-office and remote labor.
Market Competitive Landscape
The market for coworking spaces is highly fragmented, with numerous competitors already present as well as new ones joining the market to meet the growing demand for workplaces in casual settings. Other significant market participants include Klein Kantoor, Morning Coworking, Regus/IWG, WeWork, Matrikel1, Deworkacy, The Office Group, Scalehub, DBH Business Services, and MeetDistric.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By End Use, By User |
| Regions covered | France, Germany, Italy, Spain, United Kingdom, Rest of Europe |
| Companies Covered | DBH Business Services, Deworkacy, Klein Kantoor, Matrikel1, Morning Coworking, Ordnung, Regus/IWG, Scalehub, The Office Group, WeWork, Others |
COVID-19 Impact on Europe Co-Working Space Market
The market for co-working spaces in Europe was greatly impacted by the COVID-19 pandemic, which brought with it both opportunities and obstacles. In the beginning, occupancy rates fell precipitously as businesses moved to remote work due to frequent lockdowns and health concerns. Due to financial difficulties, a large number of co-working spaces had to close temporarily or permanently. But as circumstances changed, workplace relationships changed as well, with many companies embracing hybrid work models that prioritize flexible office solutions. As businesses look for flexible leases to accommodate varying employee attendance, this trend has sparked a fresh interest in co-working spaces.
Key Target Audience
- Freelancers and Independent Professionals
- Startups and Small Businesses
- Remote Workers and Digital Nomads
- Corporations and Enterprises
- Creative Agencies and Consultants
- Nonprofits and Community Organizations
- Educational Institutions and Students
- Events and Workshops Organizers
Our in-depth analysis of the Europe Co-Working Space Market includes the following segments:
| By End Use: | Information Technology (IT and ITES)BFSI (Banking, Financial Services and Insurance)Business Consulting & Professional ServicesOthers |
| By User: | FreelancersEnterprisesStart UpsOthers |
| By Region: | FranceGermanyItalySpainUnited KingdomRest of Europe |
Key Topics Covered in the Report
- Europe Co-Working Space Market Size (FY’2024-FY’2033)
- Overview of Europe Co-Working Space Market
- Segmentation of Europe Co-Working Space Market By End Use {(Information Technology (IT and ITES), BFSI (Banking, Financial Services and Insurance), Business Consulting & Professional Services, Others}
- Segmentation of Europe Co-Working Space Market By User (Freelancers, Enterprises, Start Ups, Others)
- Expansion Analysis of Europe Co-Working Space Market
- Problems and Obstacles in Europe Co-Working Space Market
- Competitive Landscape in the Europe Co-Working Space Market
- Impact of COVID-19 and Demonetization on Europe Co-Working Space Market
- Details on Current Investment in Europe Co-Working Space Market
- Competitive Analysis of Europe Co-Working Space Market
- Prominent Players in the Europe Co-Working Space Market
- SWOT Analysis of Europe Co-Working Space Market
- Europe Co-Working Space Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Europe Co-Working Space Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Europe Co-Working Space Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Europe Co-Working Space Market
7. Europe Co-Working Space Market, By End Use (USD Million) 2020-2033
7.1. Europe Co-Working Space Market Size, Share and Forecast, By End Use, 2020-2026
7.2. Europe Co-Working Space Market Size, Share and Forecast, By End Use, 2027-2033
7.3. Information Technology (IT and ITES)
7.4. BFSI (Banking, Financial Services and Insurance)
7.5. Business Consulting & Professional Services
7.6. Others
8. Europe Co-Working Space Market, By User (USD Million) 2020-2033
8.1. Europe Co-Working Space Market Size, Share and Forecast, By User, 2020-2026
8.2. Europe Co-Working Space Market Size, Share and Forecast, By User, 2027-2033
8.3. Freelancers
8.4. Enterprises
8.5. Start Ups
8.6. Others
9. Europe Co-Working Space Market Forecast, 2020-2033 (USD Million)
9.1. Europe Co-Working Space Market Size and Market Share
10. Europe Co-Working Space Market, By Region, 2020-2033 (USD Million)
10.1. Europe Co-Working Space Market Size and Market Share By Region (2020-2026)
10.2. Europe Co-Working Space Market Size and Market Share By Region (2027-2033)
10.3. France
10.4. Germany
10.5. Italy
10.6. Spain
10.7. United Kingdom
10.8. Rest of Europe
11. Company Profile
11.1. DBH Business Services
11.1.1. Company details
11.1.2. Financial outlook
11.1.3. Product summary
11.1.4. Recent developments
11.2. Deworkacy
11.2.1. Company details
11.2.2. Financial outlook
11.2.3. Product summary
11.2.4. Recent developments
11.3. Klein Kantoor
11.3.1. Company details
11.3.2. Financial outlook
11.3.3. Product summary
11.3.4. Recent developments
11.4. Matrikel1
11.4.1. Company details
11.4.2. Financial outlook
11.4.3. Product summary
11.4.4. Recent developments
11.5. Morning Coworking
11.5.1. Company details
11.5.2. Financial outlook
11.5.3. Product summary
11.5.4. Recent developments
11.6. Ordnung
11.6.1. Company details
11.6.2. Financial outlook
11.6.3. Product summary
11.6.4. Recent developments
11.7. Regus/ IWG
11.7.1. Company details
11.7.2. Financial outlook
11.7.3. Product summary
11.7.4. Recent developments
11.8. Scalehub
11.8.1. Company details
11.8.2. Financial outlook
11.8.3. Product summary
11.8.4. Recent developments
11.9. The Office Group
11.9.1. Company details
11.9.2. Financial outlook
11.9.3. Product summary
11.9.4. Recent developments
11.10. WeWork
11.10.1. Company details
11.10.2. Financial outlook
11.10.3. Product summary
11.10.4. Recent developments
11.11. Others
12. Conclusion
13. Reference Links
14. List of Abbreviations
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
