| Study Period | 2020 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Size (2025) | USD 47.20 Billion |
| Market Size (2030) | USD 63.37 Billion |
| CAGR (2025 - 2030) | 6.07 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
APAC Co-Working Office Spaces Market Analysis
The Asia Pacific Co-Working Office Spaces Market size is estimated at USD 47.20 billion in 2025, and is expected to reach USD 63.37 billion by 2030, at a CAGR of 6.07% during the forecast period (2025-2030).
- Corporate companies are increasingly embracing the coworking concept, driven by reduced costs and enhanced flexibility. Projections indicate that by the end of 2024, the global tally of coworking spaces will reach approximately 41,975.
- Freelancers, small and medium-sized enterprises (SMEs), and emerging startups are the primary drivers of the co-working space sector. Even large corporations are increasingly turning to co-working spaces, attracted by their premium facilities at competitive prices. The rapid growth of the sector can be attributed to a surge in well-funded startups. Additionally, the rising population of digital nomads in nations such as China and India further propels the expansion of co-working spaces.
- The Asia-Pacific region, demonstrating a strong interest in flexible office spaces, is home to nearly one-third of all co-working spaces globally.As reported by Industry Associations, projections indicate that by 2025, the Asia-Pacific region will boast 3.86 million flexible workspace desks. Major cities like Melbourne, Singapore, Hong Kong, and Mumbai are at the forefront, witnessing significant growth in flexible and co-working office centers.
APAC Co-Working Office Spaces Market Trends
Flexible Managed Offices Propel Market Growth
As demand for adaptable workspaces surges in the region, flexible managed offices are becoming the go-to solution for businesses prioritizing agility and cost-effectiveness. This sector's rise is a key driver of the market's expansion. Flexible work empowers employees with choices about where, when, and how they operate. By offering diverse workspace types, companies grant their teams enhanced control over their work environments.
In 2024 Industry Association survey indicates that over 60% of regional companies have stabilized their office attendance, signaling a broad acceptance of flexible and hybrid models as the future norm. Interestingly, while 32% of firms foresee an uptick in office usage, a mere 4% predict a decline. Furthermore, the survey notes that 43% of Asia Pacific firms have hit an impressive utilization rate of 80% or more. Such trends offer companies a chance to realign their workplaces with shifting work styles, enhancing their appeal to top talent.
Major cities are witnessing a surge, with both startups and established firms gravitating towards flexible managed offices to better accommodate project-based teams and promote collaboration. For example, Bengaluru has taken the lead in the Asia Pacific's flexible office space arena, surpassing renowned cities like Shanghai, Seoul, and Tokyo, as highlighted by Zoltan Properties (a real estate service company) in August 2024. With a commanding 15.5 million square feet of flexible office space by mid-2024, Bengaluru cements its status as the go-to city for businesses in search of adaptable work environments.
In conclusion, the growing preference for flexible managed offices is reshaping the market landscape. Companies are increasingly adopting these adaptable workspaces to meet evolving employee needs and stay competitive in a dynamic business environment.
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China and Japan Witnessing Significant Growth in the Sector
China and Japan are witnessing a swift rise in the number of co-working spaces, driven by the surge of start-ups and a growing demand for flexibility among employees and companies. Co-working spaces offer a cost-effective alternative to traditional offices. Notably, many landlords from mainland China are eyeing entry into Hong Kong's flexible working market, a domain historically ruled by local and international investors. This move is seen as a low-risk gateway to the expansive office market.
In Japan, co-working spaces are increasingly favored by freelancers, start-ups, and small to medium-sized enterprises (SMEs). These spaces boast premium features, including high-speed internet, round-the-clock access, meeting rooms, and both furnished and unfurnished options. As of 2024, S-Tokyo (Nihobashi) has emerged as a frontrunner, offering distinctive amenities tailored to diverse needs, as highlighted by Digital Nomad Asia in October 2024.
In Q1 2024, Hong Kong's Central district recorded an average monthly rent of USD 122.59 per square meter for grade A office spaces, making it the priciest office real estate in the city. When stacked against other major cities in the Asia-Pacific, Hong Kong's grade A office rents topped the charts. This premium is largely attributed to the popularity of co-working spaces among youthful, burgeoning businesses, especially in sectors like internet, digital services, and media, where entry barriers are notably low.
Co-working office spaces have seen a meteoric rise over the years, with a significant chunk of independent contractors, nascent businesses, and SMEs making the most of these facilities. In conclusion, the co-working space sector in China and Japan is poised for continued growth, driven by the evolving needs of modern businesses and the increasing demand for flexible working environments. This trend is likely to reshape the traditional office market landscape in the region.
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APAC Co-Working Office Spaces Industry Overview
The Asia-Pacific co-working office space market features a mix of global and local players. Responding to the surging demand for casual office environments, numerous newcomers are making their mark. To secure a competitive edge, companies are actively pursuing growth strategies, including partnerships, mergers, and acquisitions. Notable players in this arena encompass JustCo, WeWork Management LLC, Spaces, and Hive Worldwide Ltd.
APAC Co-Working Office Spaces Market Leaders
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WeWork Management LLC
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Spaces
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JustCo
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Servcorp
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Hive Worldwide Ltd
- *Disclaimer: Major Players sorted in no particular order
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APAC Co-Working Office Spaces Market News
- September 2024: JustCo, the foremost flexible workspace provider in Asia, has unveiled its ambitious expansion strategy targeting four pivotal business hubs in the Asia-Pacific (APAC) region. Alongside the expansion of its current JustCo One City Centre (OCC) in Bangkok, JustCo is set to debut new centers in prime locations in Seoul, Taipei, and Tokyo. This move underscores JustCo's commitment to rapidly scaling its presence in the region, addressing the surging demand for premium workspaces that prioritize flexibility, productivity, and wellness in today's hybrid work landscape.
- March 2024: The Flexi Group, a leading provider of flexible workspaces in the Asia Pacific and Australia, is set to expand its Common Ground brand in Bangkok, Thailand, through a partnership with Capstone Asset Company Ltd. Currently, The Flexi Group operates five locations in Thailand and 44 across the region, consistently pushing the boundaries of flexible workspace expansion with its asset-light strategy.
APAC Co-Working Office Spaces Industry Segmentation
Co-working is an arrangement in which people from different companies share an office space. By streamlining equipment usage, we not only cut costs but also enhance accessibility for all. The report provides a comprehensive analysis of the Asia-Pacific co-working office space market, detailing an overview, segment-wise market size estimates, emerging trends, and the dynamics at play.
Asia-Pacific co-working office space market is segmented by end user (Information Technology (IT and ITES), BFSI (Banking, Financial Services and Insurance), business consulting and professional services, other services (retail, lifesciences, energy, legal services)), by user (freelancers, enterprises, start ups and others) and by geography (China, India, Japan, South Korea, Australia, and Rest of Asia-Pacific). The Report Offers the Asia-Pacific co-working office spaces market size and forecasts in dollars (USD) for all the above segments.
| By End User | Information Technology (IT and ITES) |
| BFSI (Banking, Financial Services, and Insurance) | |
| Business Consulting & Professional Services | |
| Other Services (Retail, Lifesciences, Energy, Legal Services) | |
| By User | Freelancers |
| Enterprises | |
| Start Ups | |
| Others | |
| By Geography | China |
| India | |
| Japan | |
| South Korea | |
| Australia | |
| Rest of Asia-Pacific |
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Asia Pacific Co-Working Office Spaces Market Research Faqs
How big is the Asia Pacific Co-Working Office Spaces Market?
The Asia Pacific Co-Working Office Spaces Market size is expected to reach USD 47.20 billion in 2025 and grow at a CAGR of 6.07% to reach USD 63.37 billion by 2030.
What is the current Asia Pacific Co-Working Office Spaces Market size?
In 2025, the Asia Pacific Co-Working Office Spaces Market size is expected to reach USD 47.20 billion.
Who are the key players in Asia Pacific Co-Working Office Spaces Market?
WeWork Management LLC, Spaces, JustCo, Servcorp and Hive Worldwide Ltd are the major companies operating in the Asia Pacific Co-Working Office Spaces Market.
What years does this Asia Pacific Co-Working Office Spaces Market cover, and what was the market size in 2024?
In 2024, the Asia Pacific Co-Working Office Spaces Market size was estimated at USD 44.33 billion. The report covers the Asia Pacific Co-Working Office Spaces Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Asia Pacific Co-Working Office Spaces Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Asia Pacific Co-Working Office Spaces Industry Report
Statistics for the 2025 Asia Pacific Co-Working Office Spaces market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia Pacific Co-Working Office Spaces analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
