North America Coworking Spaces Market Size, Share & Trends Analysis Report By Type, By Application (SMEs, Freelancers, Large Size Enterprises, and Other Application), By Industry Vertical, By Country and Growth Forecast, 2024 - 2031

North America Coworking Spaces Market Size, Share & Trends Analysis Report By Type, By Application (SMEs, Freelancers, Large Size Enterprises, and Other Application), By Industry Vertical, By Country and Growth Forecast, 2024 - 2031

The North America Coworking Spaces Market would witness market growth of 14.5% CAGR during the forecast period (2024-2031).

The US market dominated the North America Coworking Spaces Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $10,954.4 million by 2031. The Canada market is experiencing a CAGR of 16.8% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 16% during (2024 - 2031).

These spaces are work environments in which individuals or groups from various companies, professions, or industries come together to work in a communal setting. Unlike traditional office spaces, these spaces are typically designed to offer flexibility, allowing members to use the space on a short-term or long-term basis, depending on their needs. These spaces provide access to essential office amenities such as desks, high-speed internet, meeting rooms, and communal areas without a long-term lease commitment.

The core idea behind these spaces is to create a productive environment that fosters collaboration, innovation, and networking. People from various backgrounds, such as freelancers, entrepreneurs, remote workers, startups, and even employees from large corporations, share the space, which helps build a community and offers opportunities for professional connections. In addition to hosting events, seminars, and networking sessions, numerous these spaces also promote knowledge-sharing and collaboration among their members.

The demand for these spaces in North America has increased considerably as a result of the emergence of remote and hybrid work models, changing work habits, and a burgeoning gig economy. In the United States, gig work is the principal occupation for 29% of the workforce. This encompasses 25% of all full-time employees and 50% of all part-time employees. 36% of individuals, including those who hold multiple jobs, engage in contract work in some capacity. Major cities like New York, San Francisco, and Austin have seen particularly strong demand, driven by a booming tech industry and the widespread adoption of hybrid work models. Large corporations also increasingly utilize these spaces as satellite offices or temporary workspaces to reduce long-term lease commitments. Therefore, as more businesses adopt hybrid work models and prioritize flexibility, the demand for coworking spaces across North America will continue its upward trajectory.

Based on Type, the market is segmented into Corporate /Professional, Open/ Conventional, Industry – Specific, and Other Type. Based on Application, the market is segmented into SMEs, Freelancers, Large Size Enterprises, and Other Application. Based on Industry Vertical, the market is segmented into Information Technology, Professional Services, BFSI, Healthcare, Recruitment, Property, Government, and Other Industry Vertical. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.

List of Key Companies Profiled

• WeWork Companies LLC
• The Executive Centre Limited
• Techspace Group Ltd.
• International Workplace Group plc
• Servcorp Limited
• The Hive Worldwide Limited (The Flexi Group)
• Mindspace
• Workbar
• The Office Group
• Newmark Group, Inc.

North America Coworking Spaces Market Report Segmentation

By Type

• Corporate /Professional
• Open/ Conventional
• Industry - Specific
• Other Type

By Application

• SMEs
• Freelancers
• Large Size Enterprises
• Other Application

By Industry Vertical

• Information Technology
• Professional Services
• BFSI
• Healthcare
• Recruitment
• Property
• Government
• Other Industry Vertical

By Country

• US
• Canada
• Mexico
• Rest of North America