Summary

The coworking space market has experienced robust growth, and despite the economic impacts of the health crisis, it resumed its dynamic expansion. The average annual growth rate for new coworking spaces is 21.3%. The number of coworking space users globally was expected to grow at a CAGR of 37.51%, reaching 4.99 million by end of 2024.

Demand for coworking spaces is driven by factors such as the appeal of a relaxed work environment, networking opportunities, and the flexibility that these spaces provide for companies of all sizes. Regions such as China, India, the USA, and parts of Europe are projected to see significant growth, with coworking spaces largely concentrated in major developed metropolises.

Major players in the market vary from global giants like WeWork and IWG to regional players such as The Bureau and independent spaces, with a prominent concentration in Paris and Ile-de-France region. Pricing shows significant regional variation, with Paris exhibiting higher rates. The market has attracted new entrants, leading to a competitive environment with continually evolving services and amenities.

Regulations are governed by the French Construction and Housing Code, with recent legislative changes potentially encouraging growth in coworking space usage.

Coworking spaces in France: a flourishing market with a growing audience

The coworking space market in France has seen exceptional growth, marking a substantial demand for collaborative and flexible work environments. Notably, these spaces cater to a diverse audience ranging from self-employed individuals and startups to small businesses and large corporations, highlighting a significant transformation in French workplace culture. Professionals are showing a strong preference for central locations in cities, aligning with the modern demand for accessible and well-connected workspaces.

Coworking spaces have become especially popular with small and medium-sized enterprises (SMEs), accounting for approximately between 35 and 40 percent of this market, while start-ups make up about a quarter, ranging between 25 and 30 percent. The self-employed represent around a third of the coworking clientele, showcasing that this market is driven by individuals seeking flexibility and community. Large companies are not far behind, progressively incluting coworking spaces in their operational models to foster innovation and attract talent. An intriguing trend illustrates that almost between 90 and 100 percent of millennials are opting for more work flexibility, suggesting a potentially significant shift toward coworking environments.

Further, the coworking trend has extended beyond work, as co-living spaces that meld living and working environments are beginning to emerge. This is a response to the lifestyle of modern professionals who spend a significant portion of their income on housing and are seeking cost-effective, flexible living arrangements.

In the coworking landscape, the French market is expected to burgeon to a value of approximately between €2 and €2.5 billion. This growth has been fuelled by numerous factors, including the desire for networking opportunities, savings on transport expenditure, and a move towards more productive work environments that coworking spaces offer. Key figures that stand out in the French coworking market include an estimation of over 2,700 coworking spaces in France, with an average monthly cost of approximately €380.

The coworking spaces in France house around 185 individuals on average, underpinning a thriving community of collaborative professionals. With Paris and the Île-de-France region at the epicenter of this growth, the market is not only concentrated in the capital but also expanding into other French cities like Bordeaux, Nantes, Marseille, and Lyon. The market is characterized by robust competition with global giants like WeWork, IWG, and emerging local players, broadening the choices for customers and driving innovation in services.

Coworking titans: Dominant forces shaping the Collaborative workspace landscape

As the shared office market thrives, several key players have emerged, wielding significant influence and driving the industry's evolution. These titans of coworking offer glimpses into the market's structural dynamism and innovation.

WeWork : Revolutionizing the coworking experience, WeWork has become synonymous with shared workspaces around the globe. It boasts an impressive 755 sites in 119 cities, solidifying its presence as a global coworking giant. Their strategy revolves around creating a community-centric environment where professionals can collaborate and thrive, all while offering flexible workspace solutions that cater to both startups and major corporations.
IWG : With over 3,400 centers across more than 110 countries and 120 centers within France, IWG is a major contender in the coworking space. Housing several brands under its umbrella, including Regus, Spaces, and Signature, IWG delivers a diverse range of office solutions tailored to meet the needs of its expansive clientele. The company's longstanding expertise in shared office services reflects its robust footprint in the coworking market.
Wellio : A brainchild of Covivio, Wellio has been steadily expanding with 8 centers, including 7 in France. Its emphasis on professional and polished environments speaks to a segment of the market that seeks an upscale coworking experience with all the services and facilities that support high-performance work.
Welkin & Meraki : As a relative newcomer, Welkin & Meraki is making its mark with five centers focused on luxury coworking spaces. The founder's vision is to craft exquisite and inspiring workspaces that serve as a catalyst for innovation and business growth, infusing luxury with functionality for discerning professionals.
Multiburo : With nearly 40 sites, including 30 centers in France, Multiburo caters to a diverse professional audience seeking flexibility and convenience. Their centers, scattered across both French and international cities, are designed to foster productivity and networking in a professional setting.
Wojo : A collaboration between Bouygues Immobilier and Accor Group, Wojo is rising as a key player in France with 300 sites (Wojo coworking, Wojo Office, Wojo Meeting), comprising a significant market segment. Priding itself on solutions that facilitate ease of work and networking, Wojo aims to be the go-to for businesses embracing the coworking model.
Other noteworthy contenders are Deskeo, Morning, Kwerk, Startway.

the coworking market - France

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Number of pages : 30 pages
Format : Digital and PDF versions
Last update : 27/04/2023

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Summary and extracts

1 Market summary

1.1 Definition and scope of study

Coworking spaces are shared workspaces where a wide range of companies rent office space. In particular, it can be divided into several sub-categories:

Business centers which are office buildings hosting companies for events, seminars or conventions,
Telecenters are public spaces where computer equipment and Internet access are made available to salaried or self-employed workers
Incubators whose mission is to provide assistance and support for business start-ups
Coworking zones where several companies and individuals are seated in a shared office space (this study focuses on this category)

These coworking spaces are designed to provide a collaborative and stimulating working environment where workers can exchange ideas, work together on projects, build professional relationships and feel connected to a community of workers. Coworking spaces can also offer training and professional development opportunities, as well as social events to help workers connect and develop their professional network.

In addition, coworking spaces often offer services beyond simple office space, such as equipment, catering, cleaning, concierge services, shared spaces and business support (in some cases), along the lines of an incubator.

Finally, collaborations differentiate themselves by aiming to create collaborative workspaces that enable several players to meet, socialize and share projects. Many collaborative players place strong emphasis on the community work they engage in, in order to create an environment for learning, knowledge sharing and cooperation between different users.

Since the 2010s, the market has been very dynamic, and has rapidly recovered from the economic losses linked to the health crisis. Worldwide, between 2015 and 2022, the average annual growth rate for the opening of new coworking spaces will be 21.3%. In France, particularly Paris, Ile-de-France, Lyon and Bordaux, the market is growing steadily.

The players are highly diversified, ranging from global coworking giants (WeWork or IWG), with spaces on all five continents, to exclusively Parisian players (The Bureau), to independent coworking spaces.

2 Demand analysis

3 Market structure

4 Offer analysis

5 Rules and regulations

6 Positioning the players

6.1 Player segmentation

La Cordée
Wojo
WeWork
Spacesworks (International Workplace group)
Wellio
Morning Coworking
Kwerk
Multibureau
Giboire groupe
Industrious Office
Start way (La poste Immobilier)
DIGITAL VILLAGE Coworking
THALES DIGITAL FACTORY
Vinci Immobilier
HÉMÉRA
Bureaux à partager
IWG Regus (International Workspace group)
Ateac
Insitu Groupe
Bureaux and co
Now Coworking
La Ruche CoWorking
Coworkings communautaires
Cardinal Groupe
Cowool
Deskeo

List of charts

Number of coworking space users
Number of coworking spaces
Number of coworking spaces
What do you think is the ideal location for coworking?
Who uses coworking spaces?
In 2028, what kind of offices will you be working in?
Coworking space prices in Paris and around the world
Breakdown of the number of coworking spaces in France
Coworking space distribution for the 5 biggest players in France
Breakdown of the 15 biggest coworking operators by surface area
Breakdown of coworking companies' cost centers
What type of contract do you use?
Audience breakdown by gender
Audience breakdown by gender and age
Audience breakdown by income level
Audience breakdown by training level
Audience breakdown by household size
Décomposition de l'audience par âge

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Latest news

WeWork leaves La Défense - 18/01/2024

The WeWork site at 30 Terrasse Bellini in Puteaux, the only one in La Défense, recently closed its doors.
Despite the closure at La Défense, the company says it intends to maintain a strong presence in Paris, where it has 14 possible sites.

Vinci Immobilier, the first major property developer to launch a redundancy plan - 17/01/2024

Vinci Immobilier has set up a job protection plan and begun a voluntary redundancy scheme.
The French Federation of Property Developers (FPI) expects sales to be down by half in 2023 compared with 2022.
Housing starts were down 19.6% year-on-year at the end of November, with 294,700 units built.
In 2023, the number of business failures rose, with 122 developers going out of business, compared with 96 in 2022.
For homebuilders, 867 insolvencies were recorded in 2023, after 624 in 2022 and 579 in 2021.

Coworking: Regus moves into "up-On" in Montrouge - 25/10/2023

IWG opened more than 600 new sites worldwide in one year.
IWG opened 13 new sites in France between January and September 2023.
The "up-On" building, where IWG recently established a site, is located at two different addresses: one in Montrouge (Hauts-de-Seine), the other in Paris.

Offices: coworking expands regionally - 16/02/2023

Coworking, the offering of shared offices with services, first developed in Paris
By 2022, the coworking market was largely driven by regional development
WeWork , the number one coworking company in France with its Regus, Spaces, HQ and Signature spaces, operates just over 130 sites in 78 cities.
Coworking accounts for less than 5% of contracts signed in France in terms of office space take-up

IWG has declared France a teleworking and co-working paradise. - 18/08/2022

World leader in co-working spaces
More than 130 centers in France, the Group's second-largest market after the United States
45% increase in visits to French centers in the first half of 2022
More than 3,300 sites in 175 countries
Sales of €2.7 billion in 2021
Telecommuting accounts for 29% of business
IWG relies on a franchise development strategy to "build the world's leading provider of digital workspaces".
The holding company employs over 12,000 people
Opened 70 new sites in the first half of the year, of which 76% are franchises

"Real estate: Lyon-based Cardinal joins forces with Belgian Eagleston" - 10/06/2022

Cardinal sales in 2021: 180 million euros, 50% of which in the Paris region
Eaglestone achieves sales of 700 million euros following the transaction
Value of Eaglestone real estate projects: 1.5 billion euros
The subsidiary, Cardinal Campus, specializes in student residences, co-living (40 student residences under management) and co-working

Companies quoted in this study

This study contains a complete overview of the companies in the market, with the latest figures and news for each company. :

La Cordée

Wojo

WeWork

Spacesworks (International Workplace group)

Wellio

Morning Coworking

Kwerk

Multibureau

Giboire groupe

Industrious Office

Start way (La poste Immobilier)

DIGITAL VILLAGE Coworking

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