Whether you shoot in a bedroom, office, garage, basement or an actual studio, having a location where you can control the lighting and audio and that is readily accessible to you is key. Unless you're producing travel content or an actual vlog, having a consistent background helps add visual stability to your videos that help establish your brand and you yourself as an authority.
While having a dedicated space is not a requirement, it can certainly help cement your videos as ones to pay attention to because you took the time to find a place and set it up to be conducive to content creation. It can also save you an incredible amount of time in setup and tear down of your studio equipment because you can leave it setup. Of course, what comes with a dedicated space is the ongoing commitment to producing content that is relevant to your market.
In media production, there used to be a concept called "the long tail;" this was the idea that if you created content for a specific group, no matter how obscure, they would eventually find it and reward you for that content. With social media, YouTube and other online media outlets, that tail is getting ever shorter; however, the relevancy of content to a specific market cannot be over-stated. You have to really KNOW your market in order to appeal at the highest level to who they are and what they are interested in. Generally speaking, if you are your own customer, it should be fairly easy to come up with content ideas because it's producing content you yourself are interested in knowing about. However, if that's not you, it will likely be harder and it may be worth reaching out to those in that market to get ideas of questions you can answer, etc.