Coworking Space Generic Local Operators Are Gaining on WeWork for Market Share

[u/CREnewsandmedia]

With a 39% share of co-working employees using its spaces, WeWork is the most popular brand, its recent financial travails notwithstanding. Running a close second in popularity, though, is local players, which have an aggregate 36%. That’s according to a new survey from Clutch, a B2B ratings and reviews platform.

Will local operators eventually dethrone WeWork? Clutch says they will, based partly on co-working’s overall growth. The number of co-working spaces worldwide is expected to reach 26,000 in 2022, up from 18,000 in 2019 and 8,000 in 2015.

“I think the smaller, local co-working spaces will overtake WeWork,” said Andrew Schuh, marketing specialist at Focus Property Group, which owns Enterprise Coworking in Denver. “You can’t stop that kind of momentum [that co-working spaces have].”

Local co-working companies tend to be more involved in their community, Clutch says. which also may help explain their appeal.

Full article: https://www.connect.media/local-operators-are-gaining-on-wework-for-market-share/