The Future of Coworking
- Our research study is focused on understanding the trajectory of the coworking industry. To do this, we have employed the use of secondary data mining in our Global Coworking Growth Study 2021.
- Coworking spaces have become a popular choice for freelancers and entrepreneurs as they offer a range of benefits. For one, they provide a cost-effective solution for running a business, particularly for those who work alone.
- Additionally, they offer an environment that promotes productivity, with opportunities to network with other entrepreneurs and works in a conducive setting.
- As we move further into the on-demand economy, the need for new ways to collaborate and work together becomes increasingly important. Coworking spaces have emerged as a solution to this need. They provide a platform for independent workers to come together, socialize, and work in a shared environment.
- Overall, coworking spaces and offices are gaining popularity around the globe. More and more people are choosing to work independently, and coworking spaces offer a solution for them to do so in a productive and collaborative environment. As a result, the future of coworking spaces holds great potential and promise.
The following list illustrates our main findings:
- The estimated number of coworking spaces by 2024 will be 41,975.
- In terms of the greatest number of coworking spaces, Asia leads all other regions in 2021.
- By 2024, there are projected to be 4,993,910 coworking members.
- Big names like Google, Microsoft, Facebook, Apple, and Alibaba are just a few of the big businesses that are doing well in coworking spaces.
Below are the specifics of our results and the evidence supporting them:
Global Coworking Forecast:
- In 2018, the number of coworking spaces reached 16,599, due to their versatility and ability to be used for various purposes, such as transformation, innovation, and future-proofing.
- These spaces have also become popular by utilizing unconventional assets, such as unused spaces in educational institutions, hotels, and shopping malls. Due to the infrastructure and facilities these properties have, coworking spaces have increased in popularity.
- They have also grown more flexible by providing amenities tailored to the needs of their clients, and have begun to offer startup resources such as digital assets, new technology, and even coaches and advisors.
- The post-pandemic economy has also contributed to the rise of coworking spaces as smaller companies and start-ups may opt out of having a physical location, and instead rely on regional hubs where most of their workers are located. However, in the post-pandemic era, coworking spaces will need to address concerns over sanitation and spacing.
- By 2024, productivity and work-life balance will be a priority for both employers and employees, leading to the design of more ergonomic and sustainable coworking spaces.
A number of Global Coworking Members:
By 2024, it is estimated that there will be around 4,993,910 members of global coworking spaces. The popularity of these spaces is due to a variety of factors, such as the lack of direct competition among members who work for different companies and projects, the opportunity to collaborate and learn from others with unique skill sets, and the flexibility provided by 24/7 access. Additionally, for business owners, coworking spaces provide a professional setting for meetings with clients and investors.
Office Space Timeline:
- This provides a detailed overview of the changes in office design and working arrangements that have occurred and are predicted to occur in the future.
- It begins by discussing the early 2000s when employees were typically given their own cubicles with doors for privacy. However, companies began to realize that having private offices was not cost-effective and began to shift towards more open and flexible working environments. As technology and high-speed connectivity became more prevalent, the concept of coworking also emerged, with people looking for alternative places to work such as coffee shops or their homes.
- Moving into the 2010s, the trend towards open and flexible working environments continued, with many employees expressing a desire for flexible schedules and the ability to work from home. Companies began to focus on creating more open and collaborative spaces, with the introduction of "breakout spaces" where employees could bond with their colleagues and relax during breaks.
- Looking to the future, the sentence predicts that by the 2030s, the workplace will be focused on sustainability and communal values. It suggests that technological advancements will lead to the obsolescence of certain positions, but will also create new job opportunities. The hierarchical structure of companies will also begin to change, with a shift towards decentralization and a focus on small teams of diversely skilled individuals. The popularity of coworking is also expected to continue, with an increasing number of freelancers and remote workers in need of places to interact with others.
- Finally, the sentence predicts that by the 2100s, the traditional office will no longer exist and people will work from everywhere. It suggests that wearable technology may eliminate the need for fixed desks and that flexible sitting areas with versatile use will become more common. The workplace of the 2100s will be a fluid space, where people work together to execute tasks and interact with each other, without the need for a set location for employees to check in and out.
- The office space is being designed with a focus on employee comfort and productivity.
- One of the key features is the inclusion of Paired Development Spaces, which will be equipped with soft lighting strips that will replace the harsh overhead lights. This will make workers appear more natural on screens during work calls, creating a more comfortable and relaxed atmosphere for video conferencing.
- Another important feature of the office is the inclusion of Smart Meeting Rooms. These rooms will be specifically designed to cater to a range of technology, including input devices like microphones, cameras, projectors, screens, and whiteboards. This will enhance the way meetings are run, making them more efficient and effective.
- The office will also include Hybrid Cafe/Garden Spaces, which will be used for refreshments and employee breaks. These areas will have indoor and outdoor spaces that will encourage employee interaction and provide an opportunity for relaxation.
- To promote employee health and wellness, the office will also feature Standing Desks or Treadmill Desks, which will be adjustable to the right height to aid workers to stay fit while working.
- Huddle Rooms will also be available for small groups of three or four people to collaborate. These rooms will be equipped with digital whiteboards and will also be used for remote engagement, allowing employees to work together seamlessly regardless of their location.
- Finally, the office will feature Private Lounge and Chair Work Stations, which will provide large, ergonomic chairs with attached desks. These stations will enable the workers to maintain their privacy while remaining accessible, creating the perfect balance of productivity and comfort.
- A smart whiteboard is a collaboration tool that combines the benefits of a traditional whiteboard with digital capabilities such as audio, video, and file sharing. It is a solution for in-person team collaboration and has the potential for further advancement.
- In the future, there may be more options for remote file sharing and storage.
- Voice-activated video systems with AI may be used to track attendance in meetings. Many offices will have compact video devices for personal collaboration.
- Virtual reality presentation systems are still being developed and will allow remote workers to feel more connected to their in-office colleagues.
Small wireless sharing devices will be available to display files and presentations on multiple systems.
- With more people working from home or in "co-working" locations each year, workplace patterns are rapidly evolving. Coworking is a flexible option when your home office isn't big enough or you wish to work somewhere else.
- Commonly, outside parties who rent out desks, conference rooms, and event spaces to members operate coworking spaces. Coworking spaces don't just offer a place to work; they also promote social contact among users, which can spark new ideas and business prospects. The advantages of coworking are becoming clear as more and more individuals throng to coworking spaces.
- The workplace of the future will be coworking spaces. In addition to being excellent for the environment, they are also beneficial to the economy.
Small business owners can enjoy a professional office space without having to pay for it due to coworking spaces.
- Because they generate jobs, they are advantageous to the economy. They are excellent for the environment since they decrease the number of people who drive to work every day. Coworking spaces will keep evolving to meet the requirements of a shifting workforce as the future of work continues to unfold.
- A new generation of business owners and entrepreneurs will naturally choose coworking spaces because they offer a community where all types of workers may thrive. The future of work will be made more fascinating, diverse, and inclusive through coworking.