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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.

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 the Associate Editor for Allwork.Space, based in Phoenix, Arizona. She covers the future of work, labor news, and flexible workplace trends. She graduated from the Walter Cronkite School of Journalism and Mass Communication at Arizona State University, and has written for Arizona PBS as well as a multitude of publications.

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