After analyzing over 3,000 requests between February 2020  (pre-lockdowns) and May 2020 (post-lockdowns), space utilization is beginning to recover and shift toward private offices (as the type of space most commonly requested), longer-term contract durations, and higher capacities (of desks needed).

Such preliminary data shows:

  • 26% higher number of seats per request
  • 96% longer contract terms
  • 76% higher share of requests for private offices compared to individual seats
Historical demand for coworking and impact of Covid-19

In a post-COVID-19 world, these statistics make it easy to predict that coworking will become even more mainstream, especially since companies are shifting to remote-first workforces.

Demand will mainly come from larger organizations and enterprises looking to decentralize their workforces into smaller branch offices and remote teams into private flex offices. That demand will be led primarily by private offices, followed by dedicated desks, while hot desks and meeting rooms (for non-members) will take the longest to fully recover.

In the long run, all offices will potentially turn into flexible, on-demand spaces and in spite of the challenges faced by many operators in 2020, the potential for the coworking industry to grow and evolve has never been higher.

Methodology

The study has been conducted using proprietary data from Coworker, CoworkingResources as well as external research. More information about the methodology applied is available below.

Number of Coworking Space Worldwide: Estimates based on proprietary data about coworking space opening announcements from CoworkingResources for the years 2018, 2019 and 2020. Projections for 2021-2024 are based on average yearly growth of Coworker’s listings as well as Coworking Resources data.

Number of People Using Coworking Spaces Worldwide: 2018 data based on Deskmag’s research. 2019-2024 estimates are based on proprietary data from Coworking Resources about coworking space opening announcements, growth forecasts from Coworker’s listings as well as estimates on the seats/request growth based on Coworker data for 2020.

Coworking Size and Capacity: Data from Coworking Insights & Coworker’s 2019 Coworking Size and Capacity report, based on square footage and density from 6,405 coworking spaces in 113 countries.

Geography: Data based on Coworker listings by country and adjusted to the total market size in 2020 as estimated in the chart “Number of Coworking Space Worldwide”.

Hot Desk Prices: Data from Coworking Insights & Coworker’s 2020 Desk Price Index report, based on pricing from 12,601 coworking spaces in 158 countries.

Search volume for ‘coworking’: Data based on worldwide search for the topic “coworking” on Google Trends, for a 5-year period until June 2020.

Post-Covid Predictions: Data based on 3,012 coworking requests collected by Coworker between February 2020 and May 2020.

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