Rise of Coworking Space on 2020
As Business Keeps Growing, A Shared Office Can Become A Viable Option For Your Scaling Team. A Flexible Workspace or Co Working Site Gives You the Benefits of a Centrally-Located Business
The growth of co-working space sector is set to spread to new geographies in 2020. The co working sector has ridden the peak of a wave for the past two years with demand increasing by almost 100% and market supply more than ever before. 2018 and the 1st Qtr of 2019 showed significant shifts in the trend with an increasing demand by corporate clients showing their interest flex space. Simultaneously, real estate developers and landlords are also taking a greater interest in the sector in the face of this rise in demand. A combination of new ways of working, multi-location access, and activity-based settings are taking over the traditional offices, paving way for modern workplaces.
The Indian real estate market reaction to the advent of co-working spaces will result in a greater demand for office spaces focused on flexible leasing terms. So in the coming time, real estate developers, property owners, and managers would prefer to rent out a major part of their total space as flex workplaces. As per a recent survey report, the total space leased by shared workplace operators is expected to stand at 10-12 million sq. ft. by 2020.
The co-working space nowadays more automated than before. Access cards, management software, attendance system, automated invoices, etc. have minimized the human interface in the management of the co-working space. By 2020, workplaces will be designed as technology integrated space. Millennial are always looking for high quality, high speed, reliable and covetable products and collaborative technology is required to meet these needs of today’s generation. New Technologies like The voice-activated assistant, wearable technology connected with the Internet of Things, will enable seamless connection, alliances, and accessibility from any place at any point in time.