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Home News

Space-as-a-Service Market Set To Reach $14 Billion By 2031

The market was valued at $8.7 billion in 2021, now growing at a compound annual growth rate (CAGR) of 5.1% from 2022 to 2031.

Emma AscottbyEmma Ascott
December 2, 2024
in News
Reading Time: 1 min read
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Space-as-a-Service Market Set To Reach $14 Billion By 2031

SPaaS providers offer businesses and individuals flexible workspace solutions, including high-speed internet, meeting rooms, and administrative support.

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The Space-as-a-Service (SPaaS) market, which includes coworking spaces, serviced offices, and other flexible workspaces, is expected to grow significantly in the next several years. 

According to a new report from Allied Market Research, the market was valued at $8.7 billion in 2021 and is projected to reach $14 billion by 2031, growing at a compound annual growth rate (CAGR) of 5.1% from 2022 to 2031.

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SPaaS providers offer businesses and individuals flexible workspace solutions, including high-speed internet, meeting rooms, and administrative support. 

As the demand for these services increases, technology integration has become a key opportunity. Providers are leveraging technology to optimize space utilization, enhance security, and offer more personalized experiences to customers.

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With businesses increasingly embracing flexible work arrangements, the SPaaS market is poised for continued growth.

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Source: Open Pr
Tags: BusinessCoworkingNorth AmericaSpace-as-a-ServiceTechnology
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Emma Ascott

Emma Ascott

Emma Ascott is a contributing writer for Allwork.Space based in Phoenix, Arizona. She graduated from Walter Cronkite at Arizona State University with a bachelor’s degree in journalism and mass communication in 2021. Emma has written about a multitude of topics, such as the future of work, politics, social justice, money, tech, government meetings, breaking news and healthcare.

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