Market Size of Asia Pacific Co-Working Office Spaces Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 6.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Co-Working Office Spaces Market Analysis
The Asia-Pacific co-working office space market valued at USD 44 billion in the current year and is expected to register a CAGR of more than 6%.
- In the Asia-Pacific region, the COVID-19 pandemic sped up the growth of co-working spaces because traditional workspaces were having trouble during the crisis. Many enterprises have moved toward co-working spaces due to their affordable prices and flexibility in working space. The co-working spaces also ensure a safe working environment.
- The sector is driven by freelancers, small and medium-sized businesses (SMEs), and new businesses that are starting up. Large companies have also started using co-working spaces because they offer great facilities at prices that aren't too high. Also, the sector is growing quickly because there are more start-ups that are getting a lot of investment. Increasing numbers of digital nomads in countries like Indonesia and Thailand are also boosting the co-working space sector.
- Nearly one-third of all co-working spaces in the world are in the Asia-Pacific region, which has shown a lot of interest in flexible office spaces. In 2021, Asia-Pacific led the co-working space market compared with other regions. Melbourne, Singapore, Hong Kong, and Mumbai are some of the major cities experiencing growth in flexible and co-working office centers.
