There are approximately 18,700 coworking spaces around the world. According to projections, there will be some 41,975 coworking spaces around the world by the end of 2024. Coworking office spaces are expected to grow by 13% annually. On average, 40% of coworking spaces are profitable, according to responses to the second global survey on coworking (DeskMag). The number of companies that use coworking spaces continues to grow every year, although there are no current statistics on the number of independent companies that actually use coworking spaces at this time.
Coworking spaces are expected to increasingly focus on inclusion in the coming years, although there are relatively few spaces owned by non-white people. Even though coworking spaces suffered the strong negative impacts of the COVID pandemic, many experts expect coworking spaces to thrive once things return to normal. In North America, the average size of a coworking space is about 9,799 square feet, and an average of about 100.14 people use that space. Today, the 10 largest providers of coworking spaces and flexible offices represent 36% of the market (Forbes).
If the trajectory continues this way, coworking spaces may start to look more like office buildings than they were originally designed, but employees will still be able to leave their living rooms and bedrooms to be close to other professionals and entrepreneurs. However, one of the main reasons why less than half of coworking spaces are profitable is the relative novelty of coworking spaces as a whole. Coworking spaces provide the perfect option for companies to continue to have headquarters and office space for interested employees while reducing their size and costs. Whether it's because boomers are more likely to work in traditional office roles, because younger generations are more likely to work remotely, or because most users of coworking spaces are technology workers, the younger you are, the more likely you are to consider coworking.
While millions of people continue to benefit from shared office space, the COVID pandemic has slowed the enormous growth rate that coworking spaces were experiencing. This can be attributed to women using coworking spaces less frequently, every day of the week, or to the still-prevailing attitude that coworking spaces are dominated by men. You can then dive deeper into the data about employees who work in coworking spaces or search for administrative and office positions. Some popular black-owned coworking spaces in the United States include Femology, The Gathering Spot, and La Create Space.
The average age of coworking space members is 36, 80% of coworking space members have a college degree, and 90% of American coworking space members are white or Caucasian.
