COVID-19 and the growth of technology have created an influx in the number of remote workers worldwide. While working from home has its perks, it’s natural to miss working from an office sometimes. This is where coworking comes into play.
Here are some statistics to help you understand the growth of coworking spaces:
Keep reading to learn more about each of these topics.
The global coworking market will grow from $16.17 billion to $19.05 billion in 2023.
Is coworking just a fad, or is it here to stay?
These coworking statistics will give you some interesting insights.
Top Coworking Statistics: Editor’s Pick
By 2024, the number of coworking spaces worldwide is expected to more than double .
There will be about 41,975 coworking spaces worldwide by 2024 .
About 5.07 million people will become members of coworking space in 2023 .
There were over 6,200 coworking spaces in the US in 2022 .
There were more than 30,000 coworking workspaces worldwide in 2019 .
About two million people are working in coworking spaces worldwide .
Freelancers make up about 42% of coworking space members worldwide .
Coworking spaces are expected to make up to 30% of the commercial real estate market by 2030 .
About 37.93% of SMEs use a co-shared workspace worldwide .
The number of people in coworking spaces is estimated to reach five million by 2024 .
Growth of Coworking Spaces
How has COVID-19 impacted coworking, and how much has it grown in the last few years? Check out these statistics:
During the pandemic, 71.67% of coworking spaces saw a significant decrease in people working from their spaces 
The pandemic hurt many industries, and the coworking market was not an exception. Here’s how the industry was affected by COVID-19.
In 2019, there were 19,000 coworking spaces in the world.
40.8% of coworking spaces had a negative impact on the renewal of memberships and contracts in 2020.
21.76% of coworking centers closed down because of the pandemic.
67% of spaces saw a decrease in new membership applications.
Coworking places had about 36.47% of membership cancellations.
Daily users dropped from 60% in January to 40% in November 2020.
By 2024, the number of coworking spaces is expected to double from 20,000 to 41,975 
Though the pandemic slowed down the coworking sector, the industry was quick to bounce back since hybrid and remote work are popular now.
The average cost of booking a coworking workspace in the U.S. varies between $55 and $75/hour .
In 2017, the US had about 4000 coworking spaces; however, it grew to 6200 in 2022 .
In 2021, the global coworking market was estimated to be about $6.8 billion .
The forecasted value of the coworking industry will be $24 billion in 2030 .
Coworking spaces have an average of 190 members worldwide .
The number of people working remotely has increased by 44% in the last five years .
The largest coworking locations are in the Asia-Pacific region 
The Asia-Pacific region has about 5,889 coworking spaces, making it the region with the largest coworking locations in the world.
Europe comes in second with 5,858 spaces, followed by North America with 4,698.
Here is the ranking of countries by the number of coworking locations:
Number of Spaces
North America is the country with the biggest coworking spaces 
The average size of the biggest coworking spaces in North America is 9,799 square feet per space.
The average capacity of coworking space in the US is roughly 100 sq. ft. per person .
The 10 largest coworking companies account for about 36% of the total market .
The U.S. has 18.3% of the world’s coworking areas .
In the US, the number of people who prefer coworking has increased from 300 in 2010 to 4,000 .
Benefits of Coworking
With 63% of high-growth firms employing the “productivity everywhere” model , the number of people who work in coworking spaces has increased.
Why are these spaces so popular? We’ve put together some of the benefits of coworking
An organization can save up to 30% on operational costs by working in a coworking space 
About 72% of commercial real estate owners believe coworking spaces have a positive impact on their buildings and communities .
94% of coworking spaces have additional resources and amenities, such as networking events, coffee, snacks, a gym, and more. 
Businesses with fewer than 12 employees can save up to $2,700 when using coworking spaces .
According to the Global Coworking Unconference, coworking spaces use 25% less electricity than traditional offices.
The average coworking space produces 25-50% less greenhouse gas emissions compared to a traditional office space .
90% of people who use coworking spaces say they are happier than before 
85% of people believe that coworking space helps them separate work from personal space .
79% of employees say that they are more physically active after joining a coworking area .
57% of people claim that one of the benefits of coworking space is that their workstation is at a convenient location .
96.9% of people say that they are more satisfied with their job when working in a coworking area .
83% of individuals claim that they are less alone after joining a coworking space .
53% of individuals state flexibility is one of the major benefits of coworking .
82% of people state that they expanded their professional network because of coworking .
Coworking Demographic Statistics
By now, you would’ve understood the growth and benefits of coworking. It’s time to look into the demographics
More than half of the people working in coworking spaces are younger than 40 
40% of the global workforce is made up of Millennials and Gen Z employees .
These new-age workers prefer remote and hybrid work compared to going to the office full-time. That could be one of the reasons why the majority of coworking employees are below 40.
41% of all coworking space members are freelancers 
There are about 1.5 billion freelancers worldwide; they make up 40% of the global workforce. 
As more people move from the 9-5 grind to freelancing, coworking spaces have become the go-to place for these solopreneurs.
24% of coworkers are entrepreneurs, and 21% are SMEs.
Sales and IT are the industries with the most coworkers 
About 25% of the employees who prefer coworking are from the IT industry.
13% are management and HR consultants.
Employees from PR, marketing, and sales make up 14% of coworkers.
11% are freelance designers, creatives, and artists.
The number of women in coworking spaces has been on the rise in recent years.
The percentage of women freelancing has also increased to 46%.
55% of people have been using the same coworking space since they started 
More than half the people in coworking spaces rarely shift to a different place. This shows that employees like the sense of familiarity and comfort of their coworking areas.
Coworking Productivity Statistics
What’s the impact of coworking on productivity? Let’s look at some stats about that.
84% of people claim they are more motivated when working in a coworking space 
Coworking is a refreshing change of pace for those who work from home.
Most of these areas are designed with all the amenities a working professional would need. This acts as a motivating factor for employees.
68% of individuals say that they can focus better in a coworking space 
Coworking spaces enhance productivity and concentration. This might be because of the social interaction and potential for collaboration.
59% of employees prefer 24/7 access to their coworking space 
Most employees who prefer coworking don’t work traditional office hours. That’s why they want 24/7 access to their spaces.
80% of coworkers rely on the other employees in the coworking space for assistance 
Coworking spaces are catalysts for collaboration.
64% of individuals say they get additional freelance projects from the connections they make in these spaces.
69% of people state that they’ve learned a new skill thanks to coworking.
37% of coworking facilities claim that financial constraints are their biggest challenge 
44% of the coworking spaces find it challenging to gain new members.
26% of coworking facilities don’t have enough space to accommodate employee needs.
29% of coworking spaces struggle to manage workload and administrative tasks
48% of coworkers feel that the lack of privacy is a huge challenge 
Since coworking spaces are often fully occupied, most employees face privacy issues.
Some of the other issues faced by coworkers include:
Noise and distractions are major drawbacks for about 51% of employees.
31% of individuals feel that they can’t personalize their workspace.
39% of employees are frustrated by the lack of space in coworking hubs.
Inadequate equipment is a hurdle for 39% of coworkers.
23% of employees are concerned about safety and security.
The Top 10 Companies in the Coworking Industry
WeWork is the top player in the coworking industry, with a revenue of $3.2 billion .
Regus comes in second with $2.1 billion in revenue .
Here are the top 10 companies in the coworking industry:
Workstyle Flexible Spaces
HQ Global Workspaces
We live in an age where businesses aren’t restricted by geographical boundaries. Companies have access to a global talent pool. Since employers are switching to hybrid and remote work models to accommodate their employees, the need for coworking spaces will be on the rise.
So, coworking is more than just a fad; it might be an industry that is going to flourish in the next decade.
Whether you are a SME or a well-established firm, staying updated with the latest trends can help you revamp your strategy. That’s why we curate the latest stats on upcoming trends. Keep checking our blog for more statistics on various other topics.
Martin is the CEO and Co-founder of Jobera.com, a global remote career advice platform. As a Career and Job Search Expert, he is dedicated to helping job seekers worldwide develop skills, find career opportunities, and land jobs efficiently. Martin shares his expertise by guiding individuals toward professional success and fulfillment.