Thailand Co-Working Space Market

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Thailand 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

Thailand Co-Working Space Market size was valued at USD 106.7million in 2023, and is predicted to reach USD 550.8 million by 2030, at a CAGR of 26.2% 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.

Thailand's Thriving Startup Ecosystem Drives Demand for Coworking Spaces

Thailand's burgeoning startup ecosystem necessitates flexible and cost-efficient workspace solutions to support the growing entrepreneurial landscape. With Bangkok emerging as the primary startup hub in the country, ranking 74th globally in StartupBlink's 2023 report, coworking spaces play a pivotal role in fostering innovation and supporting entrepreneurial endeavors.

These spaces offer affordable options tailored to the needs of emerging businesses, providing accessible and collaborative work environments conducive to innovation and growth. As Bangkok solidifies its position as one of Southeast Asia's most robust startup ecosystems, the demand for coworking spaces is expected to surge, driven by the need for flexible workspace solutions that cater to the dynamic requirements of startups and emerging businesses.

Shifting Workspace Preferences and Remote Work Culture Propel Coworking Space Adoption in Thailand

The rising popularity of remote work culture in Thailand is reshaping workspace preferences among professionals, driving the adoption of coworking spaces. With an increasing number of professionals and freelancers seeking productive and flexible working environments outside traditional office settings, coworking spaces offer dedicated workspaces and collaborative settings ideally suited for remote work. These spaces provide professionals with the flexibility to work independently while fostering a sense of community and collaboration. As remote work becomes more prevalent in Thailand, coworking spaces are poised to play a vital role in meeting the evolving needs of professionals, driving the demand for flexible and adaptable workspace solutions across the country.

The Escalating Worries Regarding Cybersecurity Impede Market Expansion

The cybersecurity challenge presents a formidable obstacle to the broad acceptance of coworking spaces, particularly for businesses tasked with handling sensitive data. These collaborative work environments, dependent on shared technological infrastructure, are susceptible to potential security breaches that may result in unauthorized access and data exposure. This issue is especially relevant for firms entrusted with the protection of client confidentiality and proprietary information. The communal nature of coworking spaces exacerbates risks associated with network security, physical access, and device vulnerabilities, prompting concerns among businesses regarding the safeguarding of sensitive information.

The Incorporation of Augmented Reality (AR) and Virtual Reality (VR) Opens Up Prospects for The Market in the Future

The incorporation of Augmented Reality (AR) and Virtual Reality (VR) into coworking is poised to create numerous opportunities for the growth of the coworking space market. These immersive technologies are anticipated to redefine the experience of remote collaboration, enabling individuals to actively engage in virtual meetings, collaborative projects, and training sessions with an enhanced sense of physical presence. By overcoming geographical barriers and enhancing the interactive aspect of remote work, AR and VR are projected to enhance the appeal of coworking spaces equipped with these technologies.

For instance, in May 2023, Sightful, a Tel Aviv-based company, unveiled Spacetop, the world's leading Augmented Reality (AR) laptop, securing USD 61 million in funding from investors like Aleph and Corner Ventures. Spacetop seamlessly integrates reality with AR, providing an advanced personal computing experience that surpasses the constraints of traditional laptops, thus revolutionizing the landscape of coworking and remote collaboration. This integration is poised to attract a wider audience seeking innovative and technologically advanced solutions, thereby significantly contributing to the expansion and advancement of the coworking space market.

Competitive Landscape

The Thailand 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 Thailand 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 106.7 Million

Revenue Forecast in 2030

USD 550.8 Million

Growth Rate

CAGR of 26.2% from 2024 to 2030

Analysis Period

2023–2030

Base Year Considered

2023

Forecast Period

2024–2030

Market Size Estimation

Million (USD)

Growth Factors

  • Thailand's Thriving Startup Ecosystem Drives Demand for Coworking Spaces

  • Shifting Workspace Preferences and Remote Work Culture Propel Coworking Space Adoption in Thailand

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 Thailand 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 Thailand co-working space market is estimated to be at USD 550.8 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 Thailand co-working space market is estimated at USD 106.7 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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