Coworking Key Figures: Data and Estimations for 2019
Coworking became a global phenomenon around 2010, but in recent years the industry has exploded. It can seem impossible to keep up with this rapidly changing industry, so we’ve compiled a series of statistics for those curious about the trends, industry insights and future predictions of all things coworking. Read on to find out the essential figures of coworking in 2019:
How many new spaces opened in 2018?
We kept track of all the new coworking spaces opened in the second half of 2018, and the total number is over 1,000—almost half of which are located in the United States. A rough estimate of all U.S. spaces opening this year would be slightly above 1,000.
Emergent Research has published predictions for the coworking industry for the coming four years. Below is their forecast of coworking space openings in the U.S. until 2022:
As you can see, our data estimates roughly twice the growth year after year compared to the analysis by Emergent Research—although, it should be noted, our data set is only based on two months and we will soon be able to provide far more accurate data.
In terms of international growth, coworking spaces are booming. Below is a global forecast of the number of coworking spaces through 2018:
The number of coworking spaces worldwide in 2018 doubled from 2015’s total. This tells us that coworking is more than a fad; it’s an unstoppable international phenomenon.
How many coworking spaces are there in the world?
Market researchers project that there will be 21,306 coworking spaces worldwide by the end of 2019. Even better, the field is expected to grow almost 43 percent between this year and 2022. In other words, this trend is showing no signs of slowing.
How many coworking spaces are in the U.S.?
Just like the global trend, coworking is growing domestically. The projected number of coworking spaces in the U.S. in 2019, at 5,026 unique workplaces, is nearly double the amount offered in 2015. This forecast also predicts more than a thousand new spaces in the next three years.
Which U.S. states are embracing coworking the most?
While our reports show that the states with the most consistent coworking activity are Texas, California, and New York. When put in correlation to the population of each state, the overall picture is quite different. In other words, this isn't just an urban trend—all regions, including suburban and rural areas, are finding success in the coworking business.
What types of new openings are there?
The graph above refers to the data we collected in the second half of 2018. You’ll notice that under half of the new openings represent additional locations of existing businesses or are part of larger chains and franchises. This means that while existing companies are thriving, the majority of the industry's growth still comes from independent business owners and entrepreneurs entering the market for the first time. If you want to see the comprehensive lists of new space openings on a monthly basis, review out our detailed reports here.
How many coworking members are there?
Coworking members are not only tech professionals and startups; part-time workers, freelancers and small enterprises are joining the coworking world. By 2022, there will be over one million coworking members in the U.S. alone.
What kind of people are coworking members?
By 2020, 40 percent of coworking members will be freelancers, independent contractors and part-time workers. Coworking members include the usual digital nomads, but startups, small businesses and even corporate professionals like healthcare workers and lawyers are getting in on the trend.
Is coworking a gender-inclusive industry?
Another interesting observation is the increase of female workers on the coworking scene. A survey conducted in 2017 shows 44 percent of coworking members are women. It can be expected that of 2019 roughly half of the coworking industry will be female. In fact, there is a rising trend of women-only coworking spaces for working women who are more comfortable growing professionally in a female-only environment.
Is the corporate world embracing coworking?
Coworking is no longer a concept limited to startups and small companies—larger corporations are also starting to adopt this growing trend.
Just two years ago, most big enterprises would not consider coworking as a viable option to host their employees. Today, corporations from various industries are actively considering the options and possibilities that coworking brings. Major corporations like Microsoft and Deutsch Bank, and other heavy hitters have made coworking spaces their home thanks to WeWork and other global payers. WeWork, for instance, hosts 300 employees of HSBC bank in its Hong Kong space. Large enterprises that use coworking in lieu of traditional offices are using these more engaging spaces to promote innovation and collaboration.We're confident that more and more large companies will join the coworking world in the years to come.
Coworking is the future
Clearly, coworking is a promising market that will continue to thrive as it becomes the new normal. We believe 2019 will bring even more diversity to the industry, including member and customer type, gender representation and physical location.
What are your predictions for the years to come? Do you have suggestions or questions? Let us know!