Mexico Co-Working Space Market

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Mexico 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

Mexico Co-Working Space Market size was valued at USD 172.8 million in 2023, and is predicted to reach USD 521.9 million by 2030, at a CAGR of 17.0% 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.

Evolving Working System in the Region Fuels the Growth of the Market

Mexico's emergence as a prominent destination for freelancers, digital nomads, and startups is a key driver behind the expansion of the coworking space market. With an abundance of exceptional cafes and a diverse selection of international coworking spaces, Mexico City, in particular, has become a hub for remote workers. Renowned industry leaders like WeWork, Publico, and IWG have established a strong presence in the city, catering to the varied needs of professionals seeking flexible workspace solutions. Additionally, Mexico's pool of young, educated talent has attracted U.S. and Canadian companies looking to expand their regional operations. The city's focus on digital nomads, offering high-speed internet connectivity and a thriving community of remote workers, further boosts demand for coworking spaces.

Growing Startups in the Region Drives the Growth of the Market

Mexico's burgeoning startup ecosystem, consisting of approximately 300 Fintech startups and 68 Supply Chain and Logistics startups, has significantly increased the demand for coworking spaces. As a startup hub with ample funding opportunities, Mexico has attracted attention from investors globally. For instance, in November 2023, Latin American venture capital firm NXTP secured USD 98 million for a fund targeting technology startups primarily in Brazil and Mexico. This substantial investment underscores Mexico's growing prominence in the global startup ecosystem and its potential as a lucrative market for coworking space operators. The influx of investment capital not only supports the growth of startups but also drives the expansion of coworking spaces to accommodate the needs of the thriving entrepreneurial community.

Growing Cybersecurity Challenges Stance a Burden to the Market's Growth

The cybersecurity obstacle presents a considerable barrier to the broad acceptance of coworking spaces, particularly for businesses managing sensitive data. These collaborative workplaces, which rely on shared technology infrastructure, are susceptible to security breaches that could result in unauthorized access and data exposure. This issue is especially critical for firms entrusted with safeguarding client confidentiality and proprietary information. The communal aspect of coworking spaces magnifies risks related to network security, physical access, and device vulnerabilities, leading to concerns among businesses about safeguarding 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 positioned to unlock a plethora of growth opportunities for the coworking space market. These immersive technologies are poised 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 overcoming 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 example, 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, providing 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 advancement of the coworking space market.

Competitive Landscape

The Mexico 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 Mexico 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 172.8 Million

Revenue Forecast in 2030

USD 521.9 Million

Growth Rate

CAGR of 17.0% from 2024 to 2030

Analysis Period

2023–2030

Base Year Considered

2023

Forecast Period

2024–2030

Market Size Estimation

Million (USD)

Growth Factors

  • Evolving Working System in the Region Fuels the Growth of the Market

  • Growing Startups in the Region Drives 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 Mexico 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 Mexico co-working space market is estimated to be at USD 521.9 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 Mexico co-working space market is estimated at USD 172.8 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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