In the current scenario, many organizations are looking for working space. The coworking industry initially started for startups and freelancers, but now all big multinational companies are also looking for space in Coworking and business centers. The industry is expected to grow at a breakneck pace because of huge demand in their market.
Coworking has now settled itself as a significant piece of the CRE renting movement and a specific area in its own right.
Many well-established companies like Google, Amazon, Yahoo, and Paytm are working out of coworking spaces.
Coworking Space Services helps in providing better productivity since these spaces provide limited formalities and distractions, thus leading to more productivity. Many hardworking professionals present in the coworking space give a lot of motivation and inspiration to the employees. Additionally, these spaces support an excellent sense of community as well as helps in supporting the business by providing better connections.
Few significant changes will be seen in the coworking sector in the next five years
1- Conversion of traditional office occupiers into coworking space
Many companies now understand the value of having space in coworking space, and coworking spaces are into so much of completion and offering better services to their new clients. Another reason for the cost-effectiveness of any companies having remote offices is mainly looking for space in Coworking, and due to virtual office culture is also in vogue.
2- Technology in office spaces
The traditional companies are not fully equipped with technology in their office, and the minimum use of equipment is not feasible for any company. Coworking provides all solutions to the client to use appropriate equipment. In today’s scenarios, companies are refrain from expenses either for infrastructure or admin support. In nearing future 2025, Coworking is expected to grow three times than the current situation, approx. 10% of companies are in coworking spaces will be approx—50-60 % in coming future.
3- Diverse community model
Coworking space will be not just providing space to freelancers and startups, but also among larger companies. A different way to deal with Coworking helps ventures of all sizes manufacture a robust systems administration network, persistently grow it, conceptualize new thoughts with similarly invested groups, and discover more motivation. Every industry now understands the coworking space will be the ultimate solution for their office needs. In 2025 the Coworking will be considered the top categories leasing partners for the majority of more prominent organizations.
4- Demand of Comfortable environment of office- More Automation Less Human Interface
Workspaces proprietors will concentrate more on bringing IoT innovation into collaborating spaces to change them into more astute and increasingly powerful zones. While the interest for active and open to cooperating spaces is set to increment in 2020, so is the requirement for areas to be furnished with the most recent advancements so organizations could work remotely well.
5- Slow But Steady Shift To Tier 2, 3
Delhi-NCR, Mumbai, and Bengaluru were the most favored markets for coworking operators in India. The trend is slowly moving to tier 2 and 3 cities. “The coworking giants are already setting up shop in layer 2 towns. With the burgeoning startup culture and more of MNCs planning to widen their operations in tier 2 and tier 3 cities, these places hold a radiant future for coworking spaces.