Artificial Intelligence
Co-Working Space Market to Reach $34.5 Billion Globally by 2032 at 14.6%% CAGR: Allied Market Research
Allied Market Research published a report, titled, “Co-Working Space Market by Business Model (Corporate/Professional Co-Working Spaces, Open/Conventional Co-Working Spaces, and Others), End Users (Freelancers, Large Enterprises, and Small and Medium Sized Enterprises), and Industry Vertical (IT and Telecom, BFSI, Mobile and Entertainment, Travel and Hospitality, Healthcare and Life Sciences, and Others): Global Opportunity Analysis and Industry Forecast, 2022-2032″. According to the report, the global co-working space industry generated $9.2 billion in 2022, and is anticipated to generate $34.5 billion by 2032, witnessing a CAGR of 14.6% from 2023 to 2032.
Prime Determinants of Growth
Co-working spaces offer a cost-effective alternative to traditional office spaces, which drives the growth of the co-working space market. However, high member turnover rates can lead to increase in operational costs and revenue instability, which is expected to hamper the market growth. On the contrary, creation of niche co-working spaces tailored to specific industries, professions, or communities is anticipated to provide lucrative development opportunities for the co-working space market in the forthcoming years.
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Report Coverage & Details:
Report Coverage |
Details |
Forecast Period |
2023–2032 |
Base Year |
2022 |
Market Size in 2022 |
$9.2 Billion |
Market Size in 2032 |
$34.5 Billion |
CAGR |
14.6 % |
No. of Pages in Report |
400 |
Segments covered |
Business Model, End Users, Industry Vertical, and Region. |
Drivers |
Increase in number of people working from home or remotely Development of sustainable co-working spaces Increase in number of startups and freelancers |
Opportunities |
Partnership between real estate players and open space providers Integration of advanced technology |
Restraints |
Limited space and availability of limited equipment |
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The open/ conventional co-working spaces segment to maintain its leadership status during the forecast period
By business model, the open/ conventional co-working spaces segment held the highest market share in 2022, accounting for more than three-fifth of the global co-working space market revenue. This is attributed to the fact that open business model segment is offering a variety of workspace options, from shared desks to private offices, to accommodate the diverse needs and preferences of professionals and businesses. However, the corporate /professional co-working spaces segment is projected to attain the highest CAGR of 16.8% from 2023 to 2032. This is due to the fact that co-working providers are collaborating with enterprise clients to design bespoke office spaces that align with branding and specific needs. This trend caters to companies looking for a unique and personalized workspace experience.
The IT and telecom segment to maintain its dominance during the forecast period
By industry vertical, the IT and telecom segment held the highest market share in 2022, accounting for nearly two-fifth of the global co-working space market revenue, and is estimated to maintain its leadership status during the forecast period. This is because organizations in the IT and telecom sector are increasingly inclined towards co-working spaces due to their flexibility and cost-effectiveness. These shared working facilities establish an environment that encourages collaboration and innovation, thereby fostering market growth. However, the media and entertainment segment is projected to atain the highest CAGR of 19.8% from 2023 to 2032, owing to the fact that the media and entertainment industry experiences fluctuations in workforce size due to project-based work. Co-working spaces offer scalability, allowing businesses to adjust the number of workstations or office space based on project requirements.
Asia-Pacific to maintain its dominance by 2032
Region-wise, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for nearly two-fifth of the global co-working space revenue. Asia-Pacific has attracted significant investment in the co-working sector, with both, local and international providers expanding their presence. However, the Asia-Pacific region is expected to witness the fastest CAGR of 15.8% from 2023 to 2032.
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Leading Market Players: –
- Awfis Space Solutions Pvt Ltd
- Industrious LLC
- Newmark Group, Inc.
- Impact Hub GmbH
- LiquidSpace Inc
- Techspace Group Ltd
- Soho China Ltd
- The Office Group Ltd,
- Ucommune (Beijing) Venture Capital Co., Ltd
- Wework Companies Inc
The report provides a detailed analysis of these key players of the global co-working space market. These players have adopted different strategies such as partnership, product launch, and expansion to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Artificial Intelligence
Akuvox S567G Smart Indoor Monitor Has Received Google Mobile Service Certification
XIAMEN, China, Sept. 13, 2024 /PRNewswire/ — Akuvox has announced its S567G, an indoor monitor powered by Android™, to have received Google GMS certification. This certification ensures full support for Google Services, allowing users to download and update apps directly from the Google Play Store, including smart home control apps. It also enhances system security, protecting against malware and unauthorized access.
GMS certification involves comprehensive testing and approval by Google or a designated 3PL lab, validating security and compatibility to ensure seamless integration within the Android ecosystem. Receiving GMS certification underscores Akuvox’s leadership in the smart intercom industry. Building on its legacy as the pioneer of Android smart intercoms, Akuvox continues to elevate its Android systems with Google’s rigorous certification, offering clients flexible and sophisticated smart intercom solutions.
The S567G’s GMS certification ensures flawless operation with key Google apps like Chrome, Gmail, YouTube, Maps, and the Play Store. Edward Shi, Product Manager of the S567G, notes, “The positive feedback we’ve received from clients, even during testing, confirms that this device is transforming daily life. It’s more than just an intercom — it’s a versatile tool, even capable of functioning as a small TV. Our team has worked tirelessly to meet the highest standards, and I’m excited to see how it enhances smart living for our users.”
The S567G’s features extend beyond intercom functionality. With four HD speakers and a 1280 x 800 IPS LCD screen, it offers an exceptional audio-visual experience, redefining the concept of an indoor monitor. Whether for entertainment or smart home control, the S567G stands out as a versatile wall-mounted tablet, bringing innovation to every interaction.
About Akuvox
Akuvox is a global leading provider of smart intercom and smart home products and solutions. It is committed to unleashing the power of technology to improve people’s lives with better communication, greater security, and more convenience. Encompassing artificial intelligence, SIP, Android, cloud, security, and other advanced technologies, Akuvox continuously drives breakthrough changes in the industry and creatively delivers an unrivaled portfolio of smart intercom and smart home products and solutions. It has been deployed and used daily in more than 110 countries and regions, meeting customer needs in various vertical markets that range from residential to commercial, from healthcare to public safety.
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View original content:https://www.prnewswire.co.uk/news-releases/akuvox-s567g-smart-indoor-monitor-has-received-google-mobile-service-certification-302248219.html
Artificial Intelligence
SeaBubbles Accelerates Sustainable Maritime Mobility with SmartBubble and Strategic Acquisition
SAINT JORIOZ, France, Sept. 13, 2024 /PRNewswire/ — SeaBubbles, French pioneer in zero-emission hydrofoils, strengthens its commitment to ecological transition with the launch of SmartBubble, new flying boat model combining cutting-edge technology with iconic design. This innovative vessel, designed to carry up to eight people at a speed of 16 knots (30 km/h), takes its passengers on a silent and environmentally friendly flight, ideal for water taxi services and urban transportation.
SmartBubble: Concentration of Technology and Design
Following the success of its first public line on Lake Annecy, where hundreds of passengers experienced the unique sensation of flying aboard The Bubble (4-seater model), SeaBubbles reaches a new milestone with the homologation of the SmartBubble (8-seater model) and its four patents, including retractable foils.
SmartBubble technology is geared towards energy efficiency. The submerged wings (foils) equipped with automatic flaps allow to fly at low speeds, saving 40% of energy required. This unique boat has just been presented afloat for the first time at the Cannes Yachting Festival.
SeaBubbles Strengthens Flight Control Expertise with Neocean Acquisition
SeaBubbles also announces the acquisition of Neocean technology, to accelerate the development of flight control expertise, specifically on “inverted T” foils. Neocean is renowned for developing the Overboat, foiling catamaran with proven stability and maneuverability.
SeaBubbles is a key player in hydrofoil navigation, technology that improves energy efficiency of boats, particularly electric ones. The flight control system is a central element of the flight experience: it is designed to ensure stable flight by dynamically and autonomously managing the mechanical inclination of the flaps on the trailing edges of the foils.
SeaBubbles: Vision for the Future
SeaBubbles’ ambition is to revolutionize urban and suburban maritime transport with more efficient and environmentally friendly boats. Examples such as the Calanques National Park, Norwegian fjords, alpine lakes or the canals of Amsterdam demonstrate a committed initiative towards the preservation of aquatic ecosystems by gradually banning the circulation of thermal boats.
“Foils significantly reduce the drag of our boats, allowing our hydrofoils to move more easily and with less energy than a conventional boat: a considerable gain in cost and energy,” explains Virginie Seurat, CEO of SeaBubbles. “The acquisition of Neocean marks a decisive turning point and prepares us for our industrialization phase. We are ready to redefine the pleasure of boating and offer boats that comply with increasingly stringent environmental standards, while offering unique sailing comfort – zero noise, zero waves, zero emissions.”
AxiCom for SeaBubbles, [email protected]
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View original content:https://www.prnewswire.co.uk/news-releases/seabubbles-accelerates-sustainable-maritime-mobility-with-smartbubble-and-strategic-acquisition-302247900.html
Artificial Intelligence
Amagi and BuyDRM Partner to Secure Streaming Video on PlayMedia’s FAST Platform GoPlay
NEW YORK, Sept. 13, 2024 /PRNewswire/ — Amagi, the global leader in cloud-based SaaS technology for broadcast and connected TV (CTV), today announced a partnership with BuyDRM, a leading content security services and solutions provider offering cloud-based content security for the streaming video platform GoPlay by PlayMedia. This successful collaboration with BuyDRM’s KeyOS Content Security Platform provides robust safeguards for valuable video content while allowing PlayMedia to focus on delivering high-quality video experiences to its audience without compromising security.
This partnership marks a significant step forward in addressing the evolving challenges of content security in today’s digital landscape. By combining BuyDRM’s expertise in DRM solutions with Amagi’s scalable cloud infrastructure, PlayMedia can ensure comprehensive protection for its content library against piracy and unauthorized access.
BuyDRM’s KeyOS Content Security Platform is an award-winning, studio-approved multi-DRM and watermarking content security platform for video. The KeyOS platform protects the assets of copyright holders and distributors with robust security services and solutions for high-value video content and is trusted by many of the most prominent names in media and entertainment across the globe.
Srinivasan KA, Co-Founder and Chief Revenue Officer at Amagi, said, “Our partnership with BuyDRM aligns perfectly with our endeavor to empower content creators and distributors with innovative technology. Integrating BuyDRM’s KeyOS platform into our cloud-based platform offers our customers like PlayMedia the peace of mind they need to focus on delivering exceptional content.”
“The alliance with Amagi made it possible for our mutual customer, PlayMedia, to utilize our content security offering in a cloud-based environment without sacrificing their security standards and the user experience,” said Christopher Levy, BuyDRM CEO and Co-Founder. “Both companies worked hard to empower PlayMedia with the technology needed to thrive in today’s streaming market.”
Amagi provides a complete suite of channel creation, distribution, and monetization solutions. The company’s clients include some of the world’s biggest names, including A+E Networks UK, ABS-CBN, Astro, Cox Media Group, DAZN, Globo, Lionsgate Studio, NBCUniversal, Tastemade, and VIZIO.
Amagi is exhibiting at IBC2024. Attendees can join Amagi and experience its innovative media cloud platform, which addresses unified broadcast and streaming TV workflows. Click here to book a meeting with Amagi executives.
About Amagi
Amagi is a next-generation media technology company that provides cloud broadcast and targeted advertising solutions to broadcast TV and streaming TV platforms. Amagi enables content owners to launch, distribute, and monetize live, linear channels on Free Ad-supported Streaming TV and video services platforms. Amagi also offers 24×7 cloud-managed services, bringing simplicity, advanced automation, and transparency to all broadcast operations. Overall, Amagi supports 800+ content brands, 800+ playout chains, and 5,000+ channel deliveries on its platform in over 150 countries. Amagi has a presence in New York, Los Angeles, Toronto, Mexico City, London, Paris, Sydney, Seoul, and Singapore, broadcast operations in New Delhi, and innovation centers in Bengaluru, Zagreb, and Łódź.
About BuyDRM
BuyDRM™ is a leading global provider of content security services for the entertainment, education, enterprise, and hospitality industries. BuyDRM’s KeyOS content security platform powers many of the largest brands in media and technology. With decades of market-leading experience implementing commercial content security solutions and media technologies, BuyDRM has amassed substantial success stories for many of today’s largest brands such as ABC (Australian Broadcasting Corporation), Daily Rounds, Deluxe Digital, EPIX, FuboTV, POPS Singapore, Rakuten Viki, Redbox, Roku, Samsung TV+, SBS Australia, Showtime, Sinclair Digital, Soundcloud, Sportradar, TubiTV and ViaPlay.
For more information, please visit www.buydrm.com.
Amagi Contact:
Aashish WashikarDirector – Corporate Communications Email: [email protected]
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View original content:https://www.prnewswire.co.uk/news-releases/amagi-and-buydrm-partner-to-secure-streaming-video-on-playmedias-fast-platform-goplay-302247802.html
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