Sweden Co-Working Space Market

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Sweden 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, Medium Sized Enterprises and Large Scale Enterprises) –Opportunity Analysis and Industry Forecast, 2024–2030

Industry: ICT & Media | Publish Date: 20-Nov-2024 | No of Pages: 62 | No. of Tables: 73 | No. of Figures: 38 | Format: PDF | Report Code : IC2029

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Market Definition

Sweden Co-Working Space Market size was valued at USD 431.9 million in 2023, and is predicted to reach USD 1355.5 million by 2030, at a CAGR of 17.7% 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.

Growing Startups Driven by the Rising Investments Propels the Growth of the Market

Sweden's remarkable growth in the coworking space market is driven by its robust investment climate for startups. In 2023, Sweden ranked prominently in Europe for deep tech venture capital investment and impact investment, reflecting the country's commitment to cutting-edge technologies and sustainable initiatives. Notably, a substantial portion of the investment was secured by impact startups, highlighting Sweden's focus on fostering socially and environmentally responsible businesses. This influx of investment underscores the crucial role of coworking spaces in nurturing and supporting startups, providing them with the collaborative environments and resources necessary for growth and innovation.

 

Expansion of Helio Coworking Spaces Boosts the Growth of the Market

Recent developments, such as the expansion of Helio, an independent flex office operator, further contribute to the growth of the coworking space market in Sweden. In June 2023, Helio announced the opening of two new locations in Stockholm's vibrant Central Business District (CBD). These strategically located spaces offer professionals convenient access to major business hubs, transportation networks, and a thriving community of entrepreneurs, innovators, and creatives. The new Helio locations provide a wide range of amenities tailored to meet the diverse needs of professionals, enhancing the coworking experience and fostering collaboration and innovation. The expansion of Helio reflects the increasing demand for flexible and dynamic workspaces in Sweden, contributing to the overall growth and vibrancy of the coworking space market in the country.

Growing Concerns Related to the Cybersecurity Hinders 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 Incorporation of Augmented Reality (AR) and Virtual Reality (VR) Opens Up Prospects for The Market in the Future

The integration of Augmented Reality (AR) and Virtual Reality (VR) into coworking is positioned to unlock numerous growth opportunities for the coworking space market. These immersive technologies are set to redefine the remote collaboration experience, allowing active participation in virtual meetings, collaborative projects, and training sessions with a heightened sense of physical presence. By overcoming geographical barriers and enhancing the interactive aspect of remote work, AR and VR are expected to enhance 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 Augmented Reality (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 surpasses 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 Sweden co-working space market comprises of various companies including International Workplace Group Plc (IWG), WeWork Inc., CONVENDUM Coworking Space, Norrsken House, Epicenter Stockholm, Embassy House, The Park, Entrenorsgatan, FirstOffice, Spacent, and others.

The Sweden 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

  • Large Scale Enterprises

REPORT SCOPE AND SEGMENTATION:

Parameters

Details

Market Size in 2023

USD 431.9 Million

Revenue Forecast in 2030

USD 1355.5 Million

Growth Rate

CAGR of 17.7% from 2024 to 2030

Analysis Period

2023–2030

Base Year Considered

2023

Forecast Period

2024–2030

Market Size Estimation

Million (USD)

Growth Factors

  • Growing Startups Driven by the Rising Investments Propels the Growth of the Market

  • Expansion of Helio Coworking Spaces Boosts 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

  • International Workplace Group Plc (IWG)

  • WeWork Inc.

  • CONVENDUM Coworking Space

  • Norrsken House

  • Epicenter Stockholm

  • Embassy House

  • The Park

  • Entrenorsgatan

  • FirstOffice

  • Spacent

Bar chart Pie chart Pie chart

Frequently Asked Questions

The key market players operating in the Sweden co-working space market is International Workplace Group Plc (IWG), WeWork Inc., CONVENDUM Coworking Space, Norrsken House, Epicenter Stockholm, Embassy House, The Park, Entrenorsgatan, FirstOffice, Spacent, and others.

According to the Next Move Strategy Consulting, the size of the Sweden co-working space market is estimated to be at USD 1355.5 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 Sweden co-working space market is estimated at USD 431.9 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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