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Summary and extracts
1 Market Overview
1.1 Definition and scope of the study
Coworking is a work style that involves sharing a work environment, usually an office, while maintaining an independent business. Unlike the typical office environment, coworkers are not usually employed in the same organization
The first Italian coworking spaces were opened just over a decade ago, following the example of the United States, which opened its first coworking spaces in 2005. Today, there are about more than 800 coworking spaces in Italy, well distributed in major Italian cities. They are most present in northern Italy, with 472 coworking spaces, especially in Lombardy, with Milan having 121 spaces. In 2020, 50 more coworking spaces were opened in Italy despite the crisis period.
These places welcome not only freelancers, but also start-ups, entire sectors of a company or work groups. In addition, it is possible to "rent" a meeting room for the morning or just for an hour, without having to think about tidying it up or cleaning it. With the pandemic, the concept of work is being rethought. Employees are getting used to working in places other than the traditional office. Companies are encouraging this evolution with the spread of telecommuting, and coworking is a promising trend for the future.
Regarding the profitability of the sector, based on data from the Italian Coworking Survey 2021, it is estimated that there will be a decrease in the number of profitable companies, from 41 percent to 21 percent in 2020-21 compared to 2018-19, to be considered the period of crisis related to the latter two years. In general, the sector currently appears to be in an expansion phase.
1.2 The global market
The growing number of startups is boosting the growth of the coworking market, as, due to the rising cost of private office rents, businesses of this type and others are increasingly opting for shared workspaces.
According to some forecasts, about * million people will be using coworking spaces by ****.
Number of users ...
1.3 The Italian market
Today, coworking spaces are seen as viable alternatives to traditional offices in Italy. However, this was not always the case as, in ****, there were only ** registered coworking spaces in this country.
In fact, this market has been characterized by impressive growth: the number of open coworking spaces has increased by more ...
1.4 Covid Impact
Flexible offices, temporary offices, coliving and coworking, what we call Shared Workspaces, like so many businesses across the country have been heavily affected by the restrictions imposed to deal with the pandemic. At the beginning of the **** health emergency, the sector was in a strong phase of expansion after years of ...
2 Demand analysis
2.1 Demand in Italy
In Italy coworking arrived a few years later than in other European states and has also developed more slowly, but maintaining a certain constancy.
From the composition of demand, it can be understood which categories of workers/businesses and with which characteristics opt for coworking solutions.
Types of workers/businesses using ...
2.2 Demand drivers
The main drivers of demand for coworking spaces in Italy are and have been in the past[***]:
Increase in the amount of professionals and freelancers;
Considering the fact that the number of freelancers and professionals in Italy is an important determinant of the demand for coworking spaces, data on new VAT ...
2.3 The geographical distribution of demand
Most coworking spaces operate in Northern Italy (***), particularly in the North West. Compared to ****, +** spaces were opened, but the growth is significant only in Lombardy: in fact, the market has established itself in this area and shows great vitality.
The region is undoubtedly the most dynamic in Italy, not only because ...
2.4 New trends in demand
Demand for coworking offices in the suburbs
An important factor that is increasingly being considered by workers is the distance between home and workplace. Despite the upswing in urban centers, the demand for coworking offices in the suburbs is growing. This phenomenon is due to the inconvenience created by long commutes ...
3 Market structure
3.1 Market structure
The analysis of the size of the market related to coworking offices is carried out on the basis of data belonging to the category related to ATECO code **.**, which includes integrated support services for office functions (***). Specifically, * magnitudes are considered: number of active enterprises, number of employees and legal form of ...
3.2 Value chain
The value chain of the coworking market is exemplified below.
3.3 Distribution
The preferred sales channel for coworking spaces consists of online sales.
The digitization of sales has inevitably accelerated with the advent of the pandemic, which has necessitated the use of non-physical channels. Regardless of the exogenous event, online sales is a natural evolution of distribution channels, especially in the case of ...
3.4 Main actors in the market
The coworking market is driven by coworking networks, which focus on creating a dynamic and innovative workplace for different types of consumers. The main players in Italy by turnover are:
Regus Business Centre Italia s.r.l: has been helping companies find and create the perfect coworking space for their employees ...
3.5 The market leader: the International Workplace Group
International Workplace Group is a leader in Italy and worldwide in the flexible workspace sector. Present in the country with the Regus, Spaces and Signature brands, it has now announced the addition of Copernico to its portfolio, bringing the number of its centers in Italy to **, for a total of more ...
4 Supply analysis
4.1 Overview of the offer
Coworking facilities offer a simple and affordable solution. They are aimed at all those professionals or companies that, doing their work in a flexible way, do not have a permanent location or, if large enough, to accommodate more people in case of meetings and conferences. But also to all those up-and-coming ...
4.2 Price analysis
Coworking spaces offer a variety of services and facilities, varying in cost and price.One of the most important determinants of price is the location of a coworking space: a coworking space in northern Italy or in a larger city is likely to be more expensive than one in the ...
4.3 Innovation and supply trends
Innovation
Frontier of innovation, Fablab and Coliving are the less traditional shared work spaces. The Fablab (***) is the evolution of the workshop in a digital key. In fact, these spaces offer the use of customized digital fabrication equipment and services, training and collaboration paths. Places for the first prototyping or low-cost ...
5 Regulations
5.1 Coworking contract: what services it offers and who can enter into it
With a coworking contract, the grantor provides a furnished work space to a user, who can then enjoy a comfortable and functional environment in which to carry out his or her professional activities.
The coworking contract is atypical, for consideration (***), contains elements of a lease, i.e., rent, and elements of ...
5.2 What it takes to open a coworking space in Italy
Coworking spaces must comply with two main rules:
The first concerns the use of the premises, which must be used for office purposes. The second concerns compliance with normal safety regulations (***)
Opening a coworking space requires a simple application to the police headquarters, marked by silent consent (***).
From a bureaucratic point ...
6 Positioning of actors
6.1 Segmentation
- Cowo
- Impact Hub
- Regus Business Centres Italia S.r.l (IWG)
- WeWork
- Copernico s.r.l
- Talent Garden Italia s.r.l
- IWG Regus (International Workspace group)
List of charts presented in this market study
- Number of coworking spaces
- Nombre d'utilisateurs d'espaces de coworking
- Evolutions du nombre d'espaces de coworking
- Raisons principales pour choisir un espace de coworking
- Répartition des nouveaux comptes percevant la TVA, par type d'activité
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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.
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
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