North America Coworking Spaces Market Size (2024 - 2029)

North America Coworking Spaces Market Analysis

The North America Coworking Spaces Market size is estimated at USD 5.11 billion in 2024, and is expected to reach USD 8.58 billion by 2029, growing at a CAGR of greater than 11% during the forecast period (2024-2029).

• The global expansion in the number of startups significantly impacts the coworking space industry. The United States is the leading country by the number of startups 75,056 in FY 2022-23. The extension of internet space, exposure to entrepreneurial expertise outside the country's borders, and better literacy rates all contribute to the rise.
• Furthermore, advanced manufacturing and robotics, agriculture technology and novel food, blockchain and artificial intelligence, big data, and analytics were the fastest-expanding startup sub-sectors worldwide. As a result, the growing number of startups in various sectors worldwide raised the demand for coworking spaces, boosting the market over the projection period.
• Sustainable coworking space development is a significant trend affecting the coworking space industry. Coworking spaces are introducing eco-friendly measures in the workplace to attract entrepreneurs worried about environmental challenges, such as global warming. Sustainable measures used by coworking space providers bring significant benefits and are economically possible.
• Furthermore, expanding investments in specialty coworking spaces such as women-only spaces, LGBTQ+ spaces, and other social spaces will likely generate profitable opportunities as they become more popular to meet the growing diversity in SMEs such as on-premise childcare.

North America Coworking Spaces Industry Segmentation

Coworking Space is an environment that accommodates people from different companies who come to work. Shared facilities, services, and tools characterize coworking space.

The report provides a comprehensive background analysis of the North America Coworking Spaces market, covering the current market trends, restraints, technological updates, and detailed information on various segments and the industry's competitive landscape. Additionally, the COVID-19 impact has been incorporated and considered during the study.

The coworking spaces market in North America is segmented by business type (new spaces, expansions, and chains), business model (sub-lease model, revenue sharing model, and owner-operator model), end users (independent professionals [freelancers], startup teams, small to medium-sized enterprises (SMEs), and large-scale corporations), and by country (US, Mexico, and Canada). The report offers market sizes and forecasts in value (USD) for all the above segments.