Here's Who Reigns Supreme for Coworking Volume

Regus tops the list of largest coworking operators in the US, besting WeWork, which nabbed the #2 spot in a recent CoworkingCafe study.

Regus had 832 locations as of year-end 2022, followed by WeWork with 246, Industrious with 135, Spaces with 117 and Premier Workspaces with 87.

“The U.S. economy is also slowly regaining traction after two straight quarters of economic contraction in 2022, and the coworking office market has seen a particularly active year,” CoworkingCafe analysts note in the report. “Operators continued to innovate in an effort to keep up with the rapidly changing landscape of the up-and-coming market segment – even with employers requiring increased office presence, many coworking companies continue to announce new locations set to open in 2023.”

With a national portfolio is more than three times the size of runner-up WeWork’s American inventory, Regus also has 3,000 locations globally and is the first flexible space provider operating at global scale. Its parent company IWG also controls almost one fifth of the U.S. market under the Spaces, HQ, and Regus brands.

WeWork comes in second with 246 US locations of 700 globally. The company recently announced it would terminate 40 leases by year-end as part of a consolidation strategy, however. Like Regus, its primary focus is in New York City with nearly 70 locations in Manhattan alone, but also has 27 spaces across Southern California and 22 locations in Downtown San Francisco, Oakland, and the Silicon Valley.

Third-place player Industrious Office has 135 coworking locations in close to 40 US cities and also maintains a presence in key European and Asian markets. More than half of their US offices are located along the East Coast with 50 locations across New York, Washington, D.C. and Boston, 12 in Florida, and nine in Atlanta.

Spaces, which CoworkingCafe says is positioned as a direct competitor to WeWork, operates 117 coworking offices in the US with the bulk in Southern California and the Bay Area, Texas and New York City. And fifth-place contender Premier Workspaces, which has 87 US locations, has a similar SoCal focus, with most of their spaces in the Los Angeles metro.