Serviced Office Market Report 2025 (Global Edition)

Global Serviced Office Market Report 2025 Market Size Split by Offering Outlook: (Private Offices, Virtual Offices, Others), by Vertical Outlook: (IT And Telecommunications, Media And Entertainment, F...

Serviced Office Market Report Description

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Competitive Landscape of the Serviced Office Market

The serviced office market is highly competitive, with a mix of global and local providers offering a range of flexible workspace solutions to meet diverse business needs. Key players in the market include global operators like WeWork, Regus (IWG Group), and Spaces, which dominate with a large network of locations worldwide, offering standardized services across major cities. These companies benefit from economies of scale, brand recognition, and the ability to cater to both large corporations and smaller businesses.

In June 2023, Premium hospitality-led coworking space, THE GREAT ROOM by Industrious, is announced its expansion into the Australian market. The Great Room is set to open its doors in the heart of Sydney’s CBD at Level 29, 85 Castlereagh Street, marking its first foray into the country in partnership with Australia & New Zealand-based asset manager 151 Property.

(Source:https://www.commo.com.au/properties/2023/08/24/great-room-industrious-launches-its-first-australian-flexible-workspace)

In July 2023, Instacart - a grocery aggregator - announced a partnership with Industrious, a coworking space company with more than 160 locations across more than 65 cities, to provide same-day delivery at all the firm’s U.S. offices and free yearlong Instacart+ memberships to Industrious business customers.

(Source:https://www.pymnts.com/news/delivery/2023/instacart-teams-with-industrious-same-day-delivery-coworking-spaces/)

Top Companies Market Share in Serviced Office Industry: (In no particular order of Rank)

• Greenhub
• ihub
• Spaces
• Alpha Works
• Office Space in Town
• ServCorp
• Confidential
• Regus US
• Business Space Ltd
• HubbleHQ
• LiquidSpace
• MSO
• Intelligent Office
• Our Space
• The Workplace Company
• MatchOffice
• Confidential Data
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• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Serviced Office Market

Which Region Dominates the Serviced Office Market in 2024?

According to Cognitive Market Research, North America dominates the serviced office market due to its robust economy, high demand for flexible workspaces, and a large number of startups, small and medium-sized enterprises (SMEs), and remote workers. The region's businesses increasingly seek cost-effective, scalable, and adaptable office solutions to meet the changing demands of remote and hybrid work models.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is the fastest-growing region in the serviced office market due to its rapid economic development, increasing number of startups, and the growing demand for flexible office spaces from multinational corporations expanding in the region. Countries like China, India, Japan, and Australia are experiencing a surge in entrepreneurial activity and foreign investments, driving the need for adaptable workspaces.

The current report Scope analyzes Serviced Office Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Serviced Office

According to Cognitive Market Research, the global Serviced Office market size was estimated at USD 35142.5 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 14057.00 million in 2024 and will grow at a compound annual growth rate (CAGR) of 14.2% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Serviced Office market with a market size of USD 11090.97 million in 2024 and is projected to grow at a CAGR of 14.0% during the forecast period. The U.S. market's increasing demand for flexible workspaces across various industries.
• The Canada Serviced Office market had a market share of USD 1686.84 million in 2024 and is projected to grow at a CAGR of 15.0% during the forecast period. Canada’s increasing demand for flexible workspaces across various industries.
• The Mexico Serviced Office market is projected to witness growth at a CAGR of 14.7% during the forecast period, with a market size of USD 1279.19 million in 2024.

Europe Serviced Office

According to Cognitive Market Research, the global Serviced Office market size was estimated at USD 35142.5 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 10542.75 million in 2024 and will grow at a compound annual growth rate (CAGR) of 14.5% from 2024 to 2031.

• The United Kingdom Serviced Office market had a market share of USD 1771.18 million in 2024 and is projected to grow at a CAGR of 15.3% during the forecast period. In the UK, Serviced Office sales witness an upswing due to the rise of startups and international companies.
• The France Serviced Office market is projected to witness growth at a CAGR of 13.7% during the forecast period, with a market size of USD 969.93 million in 2024.
• According to Cognitive Market Research, the German Serviced Office market size was valued at USD 2087.46 million in 2024 and is projected to grow at a CAGR of 14.7% during the forecast period. In Germany, Serviced Office surged due to the rise of startups and international companies.
• The Italy Serviced Office market is projected to witness growth at a CAGR of 13.9% during the forecast period, with a market size of USD 906.68 million in 2024.
• The Russia Serviced Office market is projected to witness growth at a CAGR of 13.5% during the forecast period, with a market size of USD 1634.13 million in 2024.
• The Spain Serviced Office market is projected to witness growth at a CAGR of 13.6% during the forecast period with a market size of USD 864.51 million in 2024
• The Luxembourg Serviced Office market is projected to witness growth at a CAGR of 14.6% during the forecast period, with a market size of USD 326.83 million in 2024.
• The Portugal Serviced Office market is projected to witness growth at a CAGR of 14.3% during the forecast period, with a market size of USD 221.40 million in 2024.
• The Greece Serviced Office market is projected to witness growth at a CAGR of 14.8% during the forecast period, with a market size of USD 126.51 million in 2024.
• The Rest of Europe's Serviced Office market is projected to witness growth at a CAGR of 13.2% during the forecast period, with a market size of USD 1634.13 million in 2024.

Asia Pacific Serviced Office

According to Cognitive Market Research, the global Serviced Office market size was estimated at USD 35142.5 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 8082.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2085.7% from 2024 to 2031.

• According to Cognitive Market Research, the China Serviced Office market size was valued at USD 3637.25 million in 2024 and is projected to grow at a CAGR of 17.5% during the forecast period. Serviced Office surged in China due to rapid urbanization, growing entrepreneurial ecosystems.
• The Japan Serviced Office market is projected to witness growth at a CAGR of 16.5% during the forecast period, with a market size of USD 1115.42 million in 2024.
• The India Serviced Office market had a market share of USD 969.93 million in 2024 and is projected to grow at a CAGR of 19.8% during the forecast period. India's rapid urbanization, growing entrepreneurial ecosystems.
• The South Korean Serviced Office market is projected to witness growth at a CAGR of 17.1% during the forecast period, with a market size of USD 808.28 million in 2024.
• The Australian Serviced Office market is projected to witness growth at a CAGR of 17.7% during the forecast period, with a market size of USD 420.30 million in 2024.
• The South East Asia Serviced Office market is projected to witness growth at a CAGR of 19.0% during the forecast period, with a market size of USD 557.71 million in 2024.
• The Rest of Asia Pacific Serviced Office market is projected to witness growth at a CAGR of 17.8% during the forecast period, with a market size of USD 573.88 million in 2024.

South America Serviced Office

According to Cognitive Market Research, the global Serviced Office market size was estimated at USD 35142.5 Million, out of which the Latin America held the market share of around 5% of the global revenue with a market size of USD 1757.13 million in 2024 and will grow at a compound annual growth rate (CAGR) of 15.4% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Serviced Office market size was valued at USD 752.05 million in 2024 and is projected to grow at a CAGR of 16.0% during the forecast period. Serviced Offices flourished in Brazil due to increasing entrepreneurial activity, evolving work cultures.
• Argentina's Serviced Office market had a market share of USD 295.20 million in 2024 and is projected to grow at a CAGR of 16.3% during the forecast period. Argentina's increasing entrepreneurial activity, evolving work cultures.
• Colombia Serviced Office market is projected to witness growth at a CAGR of 15.2% during the forecast period, with a market size of USD 156.38 million in 2024.
• Peru Serviced Office market is projected to witness growth at a CAGR of 15.6% during the forecast period, with a market size of USD 144.08 million in 2024.
• Chile Serviced Office market is projected to witness growth at a CAGR of 15.7% during the forecast period, with a market size of USD 126.51 million in 2024.
• The Rest of Latin America's Serviced Office market is projected to witness growth at a CAGR of 14.5% during the forecast period, with a market size of USD 282.90 million in 2024.

Middle East and Africa Serviced Office

According to Cognitive Market Research, the global Serviced Office market size was estimated at USD 35142.5 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 702.85 million in 2024 and will grow at a compound annual growth rate (CAGR) of 15.7% from 2024 to 2031..

• The GCC Countries Serviced Office market is projected to witness growth at a CAGR of 16.5% during the forecast period, with a market size of USD 300.82 million in 2024. Serviced Office sales flourish due to the rising demand for flexible office solutions from expanding businesses.
• The Egypt Serviced Office market is projected to witness growth at a CAGR of 16.0% during the forecast period, with a market size of USD 73.80 million in 2024.
• The South Africa Serviced Office market is projected to witness growth at a CAGR of 16.7% during the forecast period, with a market size of USD 111.05 million in 2024. Serviced Office sales flourished in South Africa due to rising demand for flexible office solutions from expanding businesses.
• The Turkey Serviced Office market is projected to witness growth at a CAGR of 15.2% during the forecast period, with a market size of USD 60.45 million in 2024.
• The Nigeria Serviced Office market is projected to witness growth at a CAGR of 14.8% during the forecast period, with a market size of USD 73.80 million in 2024.
• The Rest of the MEA Serviced Office market is projected to witness growth at a CAGR of 14.7% during the forecast period, with a market size of USD 82.94 million in 2024.

Serviced Office Market Analysis

How are Segments Performing in the Global Serviced Office Market?

Serviced Office Market Offering Segment Analysis

According to Cognitive Market Research, Private offices are the dominant segment in the serviced office market due to their popularity among businesses seeking a dedicated, secure workspace. These offices cater to companies of all sizes, offering privacy, customized configurations, and professional services while maintaining flexibility in lease terms.

The virtual office segment is the fastest-growing in the serviced office market, driven by the increasing trend of remote work and the rise of digital businesses. Virtual offices provide companies with a professional business address, mail handling, and phone services without the need for physical office space. This offering is especially attractive to startups, small businesses, and freelancers seeking a professional image while keeping overhead costs low.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Serviced Office Industry. Request a Free Sample PDF!

Serviced Office Market Vertical Segment Analysis

According to Cognitive Market Research, The professional services sector is the dominant vertical in the serviced office market, as it comprises a significant portion of businesses seeking flexible office solutions. Companies in fields such as law, consulting, accounting, and marketing frequently rely on serviced offices for their flexibility, prime locations, and access to business support services.

The media and entertainment sector is the fastest-growing vertical in the serviced office market, driven by the increasing demand for flexible workspaces that can accommodate dynamic and creative teams. With the rapid evolution of digital media, content creation, and streaming services, businesses in this sector require adaptable office spaces that foster collaboration and innovation.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Serviced Office Space Provider Outlook: Segment Analysis

Serviced Office Market Space Provider Segment Analysis

According to Cognitive Market Research, The Big brands dominate the serviced office market due to their established reputation, extensive resources, and ability to offer a wide range of services across multiple locations. Major providers like WeWork, IWG, and Regus have a global presence, attracting businesses seeking reliable and standardized office solutions.

Independent providers are the fastest-growing segment in the serviced office market, driven by increasing demand for more personalized, flexible, and innovative workspace solutions. These smaller operators often cater to niche markets by offering customized services and unique office environments that differentiate them from big brands.

• Big Brands
• Independent

Author's Detail

Swasti Dharmadhikari

Research associate at Cognitive Market Research

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Swasti Dharmadhikari, an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.

Author's Conclusion