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
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.
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.
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.
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) 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.
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.
Conventional Co-working
Professional Co-working
Others
Sub-Lease Model
Revenue Sharing Model
Owner-Operator Model
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 |
|
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. |
International Workplace Group Plc (IWG)
WeWork Inc.
CONVENDUM Coworking Space
Norrsken House
Epicenter Stockholm
Embassy House
The Park
Entrenorsgatan
FirstOffice
Spacent