Co-working Space Management Software Market To Reach USD 1,581.9 Million By 2032, Says DataHorizzon Research

A detailed analysis report of the co-working space management software market.

Fort Collins, Colorado, Nov. 20, 2023 (GLOBE NEWSWIRE) -- According to DataHorizzon Research, The co-working space management software market size was valued at USD 572.4 Million in 2022 and is expected to reach a market size of USD 1,581.9 Million by 2032 at a CAGR of 10.8%.

Co-working also allows businesses to step into new markets at the lowest risk. The new startups can scale up their ventures and expand their business globally with no or less investment and low market risk. AstroLabs, partnered with Google to open a co-working space in Dubai with dedicated and innovative amenities that aid the startups to expand their ventures globally.

Co-working spaces enable individuals to choose when and where to work, thus contributing to a more flexible and judgment-free work environment. The variable work schedules contribute to the increased productivity of the individuals. These spaces also reduce the unproductive time to commute to distant facilities, thus optimizing the productive time of the individuals.

Co-working spaces generate new opportunities and discoveries as they foster healthy discussions, incubate new ideas, and enhance knowledge sharing. This, in turn, builds a healthy community and has showcased beneficial productivity and health outcomes. Millennials prefer and favor more career flexibility, flexible hours, fun and casual work environments, and result-oriented work policies that allow them to choose their workplace as long as they deliver the work. The number of millennials starting their ventures and opting for non-traditional work has increased, ultimately opening new doors for co-working spaces and increasing the co-working market.

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Segmentation Overview:

The global Co-working Space Management Software Market has been segmented into deployment, application, and region. North America, particularly the United States, had a thriving co-working space market. Metro cities like New York, San Francisco, and Los Angeles have hosted numerous co-working spaces, and demand for management software remains high. The market witnessed a surge in adopting software tools designed to handle member onboarding, booking systems, billing, space utilization analytics, and community management.

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Co-working Space Management Software Market Report Highlights:

  • The global Co-working Space Management Software Market growth is anticipated at a CAGR of 10.8% by 2032.
  • The emphasis on innovation, optimized productivity, and community building contributes significantly to market growth. Co-working spaces relay idea sharing and creativity and are ideal work environments that drive innovation and support effectual processes or product development.
  • Based on the deployment, the market is segmented into on-premise and cloud. The cloud segment held more than 80% of the co-working space management software market in 2022.
  • Based on application, the market is categorized into small and medium enterprises (SMEs) and large enterprises.
  • Some prominent players in the Co-working Space Management Software Market report include Coworkify, DropDesk, Essensys, Officernd, Nexudus, Yardi Kube, UPSTREAM - AGILE GMBH (Cobot), ShareDesk Global Inc (Optix), Satellite Deskworks, Andcards, and Coworks among others.

Industry Trends and Insights:

-           In July 2023, Johnson Controls, a global provider of smart, healthy, and sustainable buildings, acquired FM:Systems. FM:Systems specializes in digital workplace management and Internet of Things (IoT) solutions. Johnson Controls intends to expand its OpenBlue digital building capabilities with this acquisition.

-          In recent news, WeWork will convert its co-working spaces into apartments in its Manhattan co-working location. The Vanbarton Group will host this transition. 

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Co-working Space Management Software Market Segmentation:

By Deployment: Cloud-based, on-premise

By Application: Large enterprises, SMEs

By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa. 

About DataHorizzon Research:

DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.



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