Japan Co-Working Space Market

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Japan 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: 26-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

Japan Co-Working Space Market size was valued at USD 311.2 million in 2023, and is predicted to reach USD 1034.2 million by 2030, at a CAGR of 18.6% 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.

Western Investment and Government Support Drive the Growth of the Market

Despite Japan's startup landscape being smaller compared to economies like the U.S. and China, positive developments are evident. Major Western investment firms displaying interest in Japan signal confidence in its potential. Moreover, proactive measures by the Japanese government, such as tax breaks and support initiatives, aim to encourage startup activity. These combined efforts create an environment conducive to startup growth, fostering innovation and entrepreneurial endeavors.

Strategic Initiatives and Specialized Coworking Spaces Propel Market Expansion

The Beyond Limits. Unlock Our Potential strategy serves as a significant driver in Japan's startup ecosystem, positioning the country as a competitive player globally. The Startup City Project Japan, launched across eight cities, including Tokyo and Osaka, offers comprehensive support for ecosystem building. Specialized coworking spaces tailored to specific needs, such as hospitality-led spaces for overseas companies and initiatives like The Okinawa Remote Work Collective, further expand the market. These initiatives not only cater to diverse communities but also facilitate professional development opportunities, creating a supportive environment for startups and professionals to thrive and collaborate in Japan.

The Growing Concerns Related to Cybersecurity Hinders the Market Growth

The cybersecurity threat presents a substantial obstacle to the widespread adoption of coworking spaces, particularly for businesses managing sensitive data. These collaborative work environments, reliant on shared technological infrastructure, are susceptible to potential security breaches that may result in unauthorized access and data leakage. This issue is especially relevant for firms entrusted with safeguarding client confidentiality and proprietary information. The communal aspect of coworking spaces amplifies risks associated with network security, physical access, and device vulnerabilities, prompting concerns among businesses regarding the protection of sensitive information.

The Incorporation of Augmented Reality (AR) and Virtual Reality (VR) Paves the Way for Future Market Opportunities

The introduction of Augmented Reality (AR) and Virtual Reality (VR) into coworking is positioned to foster numerous opportunities for the growth of the coworking space market. These immersive technologies are expected to redefine the experience of remote collaboration, enabling individuals to actively participate in virtual meetings, collaborative projects, and training sessions with a heightened sense of physical presence. By transcending geographical barriers and enriching the interactive aspect of remote work, AR and VR are predicted to increase the attractiveness of coworking spaces equipped with these technologies.

For instance, in May 2023, Sightful, a company based in Tel Aviv, unveiled Spacetop, the world's premier Augmented Reality (AR) laptop, securing USD 61 million in funding from investors such as Aleph and Corner Ventures. Spacetop seamlessly integrates reality with AR, delivering an advanced personal computing experience that surpasses the limitations of traditional laptops, thus revolutionizing the landscape of coworking and remote collaboration. This integration is poised to attract a broader audience seeking innovative and technologically advanced solutions, thereby making a significant contribution to the expansion and progression of the coworking space market.

Competitive Landscape

The Japan 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 Japan 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 311.2 Million

Revenue Forecast in 2030

USD 1034.2 Million

Growth Rate

CAGR of 18.6% from 2024 to 2030

Analysis Period

2023–2030

Base Year Considered

2023

Forecast Period

2024–2030

Market Size Estimation

Million (USD)

Growth Factors

  • Growing Startup Ecosystem Fuels Demand for Coworking Spaces

  • Overseas Venture Capital Investment Drives Coworking Space 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 Japan 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 Japan co-working space market is estimated to be at USD 1034.2 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 Japan co-working space market is estimated at USD 311.2 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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