Norway Co-Working Space Market

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Norway Co-Working Space Market by Business Type (Conventional Co-working, Professional Co-working, and Others), by Business Model (Sub-Lease Model, Revenue Sharing Model, and Owner-Operator Model), and by End User (Independent Professionals, Startup Teams, and Small and Medium Sized Enterprises) –Opportunity Analysis and Industry Forecast, 2024–2030

Industry: ICT & Media | Publish Date: 25-Apr-2024 | No of Pages: 169 | No. of Tables: 132 | No. of Figures: 57 | Format: PDF | Report Code : N/A

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Market Definition

Norway Co-Working Space Market size was valued at USD 67.6 million in 2023, and is predicted to reach USD 256.6 million by 2030, at a CAGR of 20.9% from 2024 to 2030. Co-working space represents a dynamic and adaptable solution to the evolving needs of businesses. These shared work environments offer flexibility in lease terms and space requirements, appealing particularly to startups and small enterprises seeking to avoid the upfront costs associated with traditional offices. The communal atmosphere encourages networking and collaboration among professionals from diverse fields, fostering innovation and creativity.

Equipped with modern amenities and strategically located, co-working spaces provide cost-effective, scalable, and accessible alternatives for companies seeking a central presence without the constraints of long-term leases. The industry has experienced significant growth as businesses recognize the benefits of this model, embracing the collaborative opportunities and resource-sharing inherent in co-working spaces.

Shifting Workplace Trends Drive Demand for Co-working Spaces in Norway

The increasing popularity of co-working spaces in Norway mirrors a broader global trend towards flexible and collaborative work environments. This shift signifies a significant evolution in the preferences and demands of professionals and businesses in the country. Candic Hotels' recent introduction of its new coworking concept across multiple locations in Norway, Norway, Poland, and other regions underscores this trend. By offering amenities such as comfortable seating, Wi-Fi, refreshments, quiet areas, and business services, Candic Hotels addresses the growing demand for flexible work arrangements. This initiative reflects the adaptability of businesses to meet the changing needs of modern workers, further fueling the demand for co-working spaces in Norway.

Innovative Co-working Concepts in the Region Fuel the Growth of the Market

The introduction of Candic Hotels' new coworking concept across approximately 270 locations in Norway, Norway, Poland, and other regions highlights a significant driver in the growth of co-working spaces in Norway. This innovative concept provides customers with a conducive environment outside traditional corporate or home offices, offering essential amenities tailored to modern work requirements. With comfortable seating, Wi-Fi access, refreshments, quiet areas, and various business services, Candic Hotels' initiative caters to the evolving preferences of professionals and businesses. By expanding accessibility and flexibility, this initiative responds to the increasing demand for versatile workspaces that accommodate diverse workstyles and preferences.

Rising Concerns Related to Cybersecurity Fuel the Growth of the Market

The cybersecurity hurdle poses a significant barrier to the widespread adoption of coworking spaces, especially for businesses handling sensitive data. These collaborative workplaces, relying on shared technology infrastructure, are vulnerable to security breaches that may lead to unauthorized access and data exposure. This concern is particularly crucial for firms entrusted with safeguarding client confidentiality and proprietary information. The communal nature of coworking spaces exacerbates risks related to network security, physical access, and device vulnerabilities, prompting apprehensions among businesses regarding the protection of sensitive information.

The Integration of Augmented Reality (AR) and Virtual Reality (VR) Creates Future Opportunities for the Market

The incorporation of Augmented Reality (AR) and Virtual Reality (VR) into coworking is poised to unlock myriad growth opportunities for the coworking space market. These immersive technologies are set to redefine the experience of remote collaboration, enabling active participation in virtual meetings, collaborative projects, and training sessions with an enhanced sense of physical presence. By transcending geographical barriers and enriching the interactive aspect of remote work, AR and VR are expected to elevate the appeal of coworking spaces equipped with these technologies.

For instance, in May 2023, Sightful, a Tel Aviv-based company, introduced Spacetop, the world's leading AR laptop, securing USD 61 million in funding from investors such as Aleph and Corner Ventures. Spacetop seamlessly integrates reality with AR, offering an advanced personal computing experience that exceeds the limitations of traditional laptops, thus revolutionizing the landscape of coworking and remote collaboration. This integration is positioned to attract a broader audience seeking innovative and technologically advanced solutions, thereby significantly contributing to the expansion and advancement of the coworking space market.

Competitive Landscape

The Norway co-working space market comprises of various companies including Regus Group Companies, TechSpace Inc, Knotel Inc, SimplyWork, Talent Garden S P A, Premier Workspaces, KR Space, Convene, Servcorp Limited, WeWork Management LLC, The Office Group Ltd., Industrious LLC, Ucommune (Beijing) Venture Capital Co., Ltd., LiquidSpace Inc., Awfis Space Solutions Pvt Ltd., Impact Hub GmbH, Newmark Group, Inc., Soho China Ltd., Serendipity Labs, India Accelerator, and others.

The Norway Co-Working Space Market Key Segments

By Business Type

  • Conventional Co-working

  • Professional Co-working

  • Others

By Business Model 

  • Sub-Lease Model

  • Revenue Sharing Model

  • Owner-Operator Model 

By End User 

  • Independent Professionals

  • Startup Teams

  • Small and Medium Sized Enterprises

REPORT SCOPE AND SEGMENTATION:

Parameters

Details

Market Size in 2023

USD 67.6 Million

Revenue Forecast in 2030

USD 256.6 Million

Growth Rate

CAGR of 20.9% from 2024 to 2030

Analysis Period

2023–2030

Base Year Considered

2023

Forecast Period

2024–2030

Market Size Estimation

Million (USD)

Growth Factors

  • Shifting Workplace Trends Drive Demand for Co-working Spaces in Norway

  • Innovative Co-working Concepts in the Region Fuel the Growth of the Market

Companies Profiled

20

Market Share

Available for 10 companies

Customization Scope

Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs.

KEY PLAYERS

  • Regus Group Companies

  • TechSpace Inc

  • Knotel Inc

  • SimplyWork

  • Talent Garden S P A

  • Premier Workspaces

  • KR Space

  • Convene

  • Servcorp Limited

  • WeWork Management LLC

  • The Office Group Ltd.

  • Industrious LLC

  • Ucommune (Beijing) Venture Capital Co., Ltd.

  • LiquidSpace Inc.

  • Awfis Space Solutions Pvt Ltd.

  • Impact Hub GmbH

  • Newmark Group, Inc.

  • Soho China Ltd.

  • Serendipity Labs

  • India Accelerator

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Frequently Asked Questions

The key market players operating in the Norway co-working space market is Regus Group Companies, TechSpace Inc, Knotel Inc, SimplyWork, Talent Garden S P A, Premier Workspaces, KR Space, Convene, Servcorp Limited, WeWork Management LLC, and others.

According to the Next Move Strategy Consulting, the size of the Norway co-working space market is estimated to be at USD 256.6 million in 2030.

The rising cybersecurity threats poses as a major challenge to the growth of the market especially business handling sensitive information and documents.

According to the Next Move Strategy Consulting, the size of the Norway co-working space market is estimated at USD 67.6 million in 2023.

The integration of AI and VR in co-working space will create future opportunities for the market to redefine the remote collaboration experience, allowing individuals to actively engage in virtual meeting.

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