12 Futuristic Trends of Coworking Spaces in 2020

 Futuristic Trends of Coworking space

The Coworking Space Industry has taken over the world by storm. Right now, there are 18,287 co-working spaces all over the world. There has been an average increase of 2,595 new co-working spaces every year since 2005. The statistics show how the idea of co-working together, with other freelancers, startups and big organizations as part of a community, has appealed to the millennial generation

Studies done by various consulting firms have predicted a bright future for the co-working space industry

coworking growth

 

Jones Lang LaSalle(JLL), through a study, predicted a jump in coworking spaces of 30% to 40% in 2018.

By 2020, 13.5 million Indians will operate out of coworking space. These coworking spaces will seat 10.3 million employees of big organizations. They will also house 1.5 million freelancers and around 1,00,000 startup employees.

The boom of coworking spaces means the decline of traditional office spaces. Coworking spaces offer several advantages over traditional office spaces. Thus, more organizations are shifting towards flexible office spaces.

Global number of Coworking spaces 2016

 

As the demand for coworking space is bright, organizations need to innovate.

 

I have explained twelve trends that will take the coworking space industry to high levels.

Coworking Spaces are adopting Technology Spaces

Coworking spaces offer a diverse choice of locations

Coworking spaces are becoming more exclusive

Closer to nature

Coworking spaces will make greater use of digital marketing

Traditional industries are shifting to coworking spaces

Coworking Spaces are adopting technology

Productivity and collaboration efforts will increase

The rise of medical coworking

Better designing

More Services offered by coworking spaces

Mobile Coworking spaces

 

Coworking Spaces are adopting technology

One of the major advantages of coworking spaces is that it offers 24×7 access to their members.

But this 24×7 access comes at a cost. Coworking spaces have to hire managers for both the day and night shifts.

Coworking management software

Owners of the coworking spaces want to do away with these managers. So they are shifting towards technology-driven management.

Coworking spaces will make use of access cards, coworking software, etc. in the future.

Coworking spaces are shifting away from manual operation towards complete automation. This makes members feel free to come and go whenever they please.

In an age of artificial intelligence, such a trend will take over the coworking industry.

Co-working spaces offer a diverse choice of locations. Workers want to opt for a coworking space that offers them a diverse choice of locations. They want a coworking space that lets them work at any one of the locations within the city.

Businessmen or workers who travel to other cities want multi-city coworking options. This means that these coworking spaces have branches in different cities too.

diverse coworking location

Workers also get bored and frustrated with working at the same office day after day. Working at different offices can give them the necessary enthusiasm.

A diverse choice of locations offers the benefit of workers working near their homes. This helps save time, energy and money.

 

Coworking spaces are becoming more exclusive

Coworking spaces serve as a safe space for workers.

Coworking spaces strive to provide an environment where members can feel comfortable working. They are also about catering to every class of people with every need.

Coworking spaces with exclusive women-only and LGBTQ+ spaces are what’s in store for the future

exclusive coworking spaces

Felena Hanson, the founder of women-only coworking space Hera Hub says:

“Women have long operated in the business world we didn’t create. So many women feel like outsiders in various industries that it’s great to create a room where our needs come first

Due to the phenomenal rise in women-only coworking spaces, let’s dive into a little more detail.

Empowerment

Women-only spaces offer an environment where women can feel empowered. It provides a space where women can get inspired by other motivated workers.

Networking

Only 17% of all startups have a female founder. Due to the mismatch in the male-female ratio in the workplace, it can get lonely for female workers. They might not be able to network as well with male workers due to issues like sexism and prejudice.

In coworking spaces, women can network with other women.

Women-only workspaces have the advantage of sharing advice that is relevant to women.

Sexism

According to a study by Young Women’s Trust, almost half of all female HR directors feel that their workplace is sexist.

It is necessary that more women-only spaces be set up so that women can work in a fair manner.

Co-working spaces are also tailored to suit certain professions

Many coworking spaces are designed only for workers in the legal profession. Some are designed for those in the sports sector.

Niche coworking spaces are the new trend as they help in forming a community that consists of people who are from the same profession.

 

Closer to nature

Coworking spaces are trying to incorporate nature into their workspace. The major motive of coworking spaces is to create a community of workers working in optimal surroundings that extract the best out of them. Bringing nature inside coworking spaces is a step in that direction.

In fact, working around nature has been scientifically proven to increase happiness, reduce inflammation, give workers more energy, improve memory and recollection and relieve work-related stress

coworking space closer to nature

Viewing images of greenery also benefit workers. Studies show that viewing greenery images can alter the brain’s processing mode and people become more relaxed and focused on the task at hand.

Indoor air quality affects people’s brain functions. Higher air quality and better ventilation lead to significantly better decision-making abilities.

Also, outdoor air has fewer pollutants than traditional filtered air in most offices.

Coworking spaces will make greater use of Digital Marketing

In today’s world, digital marketing is taking over the world by storm. The world’s dependency on digital forms of media means that marketing on the digital platform is absolutely essential. Coworking spaces are not exempted from their influence.

It is impossible to attract people to a coworking space without digital marketing. As search trends for coworking spaces on search engines are increasing, so are the efforts of digital marketing.

coworking space and digital marketing

Owners of coworking spaces now realize that a single person or organization who joins the coworking space is a long term customer. No matter how large the acquisition cost is, getting that customer pays off in the long run.

Investing in a photoshoot or video shoot and uploading the content on digital media is a great way to let people know about your coworking space.

 

Traditional industries are shifting to coworking spaces

Coworking spaces have generally been used by freelancers and organizations specializing in technology and e-commerce. However, there is going to be a shift of more traditional sectors like banking, insurance, manufacturing, etc. to coworking spaces.

Corporates today want to portray themselves as new-age companies with a more modern approach to attract young talent.

Industries shifting to coworking spaces

As more and more industries realize the benefits of shifting to coworking spaces, they will shift from traditional office spaces to flexible coworking office spaces.

Most organizations work with a profit maximization motive, so coworking spaces help organizations, be it big or small, reduce cost and maximize profit.

 

Productivity and collaboration efforts will increase

It is common knowledge that coworking spaces result in an increase in productivity. Facilities such as yoga classes and gyms will be incorporated to enhance productivity.

altration in workstyle after working in cowokring space

Collaboration will also be boosted in coworking spaces to help members network and work together in a cohesive workplace. Coworking spaces also host events, workshops, seminars and meet and greets.

Events like pet therapy and standup comedy could go a long way in increasing productivity at the workplace.

 

The rise of medical coworking

Medical coworking is an industry that is coming up fast. Medical coworking is coworking applied to medical practices. Independent medical practitioners share space but not their core business.

An independent physician requires amenities like a waiting room, front desk reception, office cleaning, equipment, and furniture. A physician working at a medical co-working space can save on those by distributing common expenses across practitioners.

medical coworking space

One of the major advantages of medical coworking is that the practitioner pays only for what he/she needs. This is beneficial for medical practitioners who have just started out and do not get as many patients as experienced practitioners. This is very cost-effective.

The medical industry has been in the hands of big companies instead of private medical practitioners.

Medical coworking spaces allow the medical practitioner to be financially independent of the big companies. Thus, private medical practitioners are able to combine their experience with data and empathy, instead of leaving patient health to the data-driven strategies that optimize for profit alone.

Better designing

One of the more noticeable differences between traditional office spaces and coworking spaces is its interior design. The interior design is beautiful and well-executed. This designing is improving day by day.

interiors of coworking space

All coworking spaces are equipped with sitting desks, standing desks, sofas, couch, bean bags. Indoor games arena with table tennis, carrom, and foosball are a thing of the past.

New coworking spaces are coming up with better designing that makes working smooth and easy.

Mobile Coworking spaces

Many workers seek that balance between work, leisure and living a fulfilling life. Some choose coworking space over rigid, corporate schedules. Others take a coworking vacation or sign up for a co-living subscription that lets members work and travel around the world at the same time.

mobile coworking space

Mobile Coworking spaces

Coworking spaces have started to provide many additional services to members such as babysitting, a chartered accountant, making the coworking space pet-friendly, bank tie-ups for a loan, business account, etc.

Coming up with new ideas for the coworking space is necessary because if not revamped, the customers will leave for newer coworking areas that offer more innovative amenities and services.

Conclusion

Coworking spaces are the next big thing the world will see. With the number of freelancers and startups growing at an unprecedented rate, the demand for coworking spaces will only increase.

And as more and more people and organizations start using coworking spaces, it will lead to competition among the coworking space market players, which will lead to setting up of coworking spaces with advanced facilities.

The future of coworking spaces is very bright indeed.