Shared Office Spaces Market Share

Market Share of Shared Office Spaces Industry

The shares office space market is fragmented in nature with a presence of several players in the market. WeWork, IWG Group, JustCo, Servcorp Limited, Industrious are some of the major players in the market. With the rising cost of rents in tier 1 and tier 2 cities, many SMEs and entrepreneurs are choosing coworking spaces to gain access to better facilities at a cheaper cost. There is a booming demand for shared office spaces globally.

While industry leaders like WeWork are thriving, the boom in demand for co-working spaces is spilling over into other industries, where any design-focused space can become a co-working venue. Serendipity Labs, for example, is working with hotels on coworking franchises. Libraries, coffee shops and traditional commercial buildings are also adding more coworking like amenities and spaces. And, of course, the traditional coworking and office suite companies continue to expand. The result of all this is increased competition.

This competition will impact the coworking industry in a variety of ways, with a big one being increased pressure on spaces to execute well. Increasing competition is normal in growing industries. The downside is some industry participants get hurt or even go out of business. We will likely see more coworking space failures over the next couple years.

Shared Office Spaces Market Leaders

1. WeWork

2. JustCo

3. Servcorp Limited

4. IWG Group

5. Industrious

*Disclaimer: Major Players sorted in no particular order