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Coworking Statistics: Just How Big is Coworking in 2020?

Coworking Statistics: Just How Big is Coworking in 2020?
October 17, 2019 gnuworld

Flexible, cost-efficient and growing at a rapid rate, coworking is being touted as an economic game changer.

Growth in the number and size of coworking spaces

According to the latest coworking statistics, the number of shared workspaces has grown by more than double in just the past five years.

Worldwide, there are an estimated 35,000 flexible workspaces. These provide over 48-million square metres of coworking space.

In 2019 alone, two-thirds of all shared workspaces reported an increase in members. A third of them also expanded in size.

Corporate coworking for larger companies

The average amount of space required by each client has also increased. Now, a single client requires an average of about seven desks.

This is in keeping with greater demand for corporate coworking, from mid-sized to larger companies.

Demand for flexible workspace solutions from corporations increased by 21% last year.

Currently, 14% of employees at large companies make use of collaborative spaces. This percentage is likely to grow.

Global coworking statistics 2020

South Africa includes over 100 coworking spaces, spread across the country.

The Asian Pacific region currently accounts for the largest number of coworking spaces (11,595).

Europe, the Middle East and Africa (EMEA) account for an estimated 6,850.

America and the UK are home to over 6,000 coworking spaces each.

By 2022, China is expected to be the largest market for flexible offices, while India is forecast to see the most growth.

Coworking and quality of life

Coworking statistics consistently indicate that people are happier in shared work environments.

According to one survey, 84% of coworkers feel more engaged and motivated than they did when working from home or a traditional office.

In another survey, 70% of people reported feeling healthier after switching to a shared workspace. A further 60% said they feel more relaxed outside of work since joining a coworking space.

Coworking as a strategy for networking and growing your business

Coworking can be a great way to expand your network.

In a recent study, 82% of respondents said that coworking has grown their list of professional contacts.

64% said collaborative workspaces led to additional work and business referrals.

83% said they felt less lonely since joining a coworking space.

Continued growth of coworking into the future

Up to 2022, it’s expected that the number of flexible workspaces will continue to grow at an annual rate of 13%.

Clearly, coworking is here to stay!

What we offer at The Workspace

At The Workspace, we offer flexible, affordable coworking, and all our clients have access to high-speed internet, meeting rooms, boardrooms and a range of business services. For more information or to book a tour of one of our branches, call us on 087 059 7777 or contact us online.

Contact us to find out more