The Global Workspace Association (GWA) Conference in Atlanta on September 19, 2013, Scott Chambers, GWA Board member and President-elect, and Laurent Dhollande, CloudVO ™ CEO, presented interesting estimates for the size of the Workspace-as-a-Service ™ Industry.
The data was extrapolated from:
- The GWA 2013 Financial Survey which gathered revenue and expense data from 391 venues
- Deskmag data on coworking that was presented at the conference
- Business Center counts by SOS and Instant Office also presented at the conference
- Annual Reports from publicly traded companies in our industry such as Regus
The end result was presented by Scott as the GWA estimate of an industry that:
- Generated $9.5 billon in Revenue
- Paid over $4bln in Rent
- Employed 35k
- Hosted 32 million meeting hours
Laurent further extrapolated that this means approximately 1 million clients/members, which he pointed out is only 0.01% of humanity or 0.1% of the industry full potential, if one uses IDC’s estimate of 1.3 billion mobile workers worldwide. He broke the number down between 84% Office Business Center clients and 16% Coworking Members. In a follow up interview by the CloudVO ™ Inquirer, Scott estimated that the Workspace-as-a-Service ™ industry as a whole is probably growing at a rate north of 15%, with the coworking segment of the industry growing the fastest.
CloudVO is the umbrella brand of Cloud Officing Corp., headquartered in San Francisco, California. CloudVO’s mission is to provide comprehensive virtual office, coworking and meeting room solutions to professionals under a Workplace-as-a-Service™ model. CloudVO operates the CloudTouchdown network that grants preferential access to day offices and meeting rooms at nearly 1,000 locations worldwide.