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Future of Co-Working Spaces: The Next Big Thing

Calendar Icon May 18, 2020 BY WorkSocial Press and Editorial

The Future of Coworking Spaces

With an inrush of business setups during the decline of commercial spaces, companies are experiencing the paradigm shift in traditional business structure. 14% of corporate workers regularly use coworking spaces, proving that brands are shifting their business model and adjusting accordingly. The future of co-working space is brighter than ever before!

Coworking spaces benefit various business careers: startups, entrepreneurs, business travelers, digital nomads, freelancers, and more. They are all working remotely, in places outside of the typical corporate office. Another component of coworking space for rent are virtual spaces. Virtual office spaces are one of the latest innovations of coworking spaces. It is a professional method to connect with clients. Upsides to a virtual office space include less overhead, better access to candidates, and reliable Wi-Fi connections. These are the vitals for office infrastructure; now they can be achieved at any location. Yes, there is a new age of business and the future of co-working directly reflects this.

Surges in co-working spaces are reported globally. Nations like India have taken greatly to the co-working work model and more countries are following suit. 2022 is expected to be a milestone year for this trend, as the projected number of co-working spaces is estimated to cross 20,000 and reach around 25,968, which would be a jump of 42% when compared to 2019. With an average increase of 2595 new spaces every year, the future of co-working business models is undoubtedly the next big thing.

Since 2005, when the first co-working space opened, it has come a long way and is on an all-time high. Its collaborative work environment model with all modern day office space rental facilities is attracting young business minds and is most likely to be the new normal for the future workforce.

Coworking Spaces are the future of office spaces

In the wake of the recent COVID-19 pandemic, assumptions arose about the future of co-working spaces looking bleak. Much of this sentiment stems from our understanding of shared office spaces. With neighboring businesses only a seat away, adhering to social distancing would present a challenge. On the contrary, most co-working spaces are adapting their facilities to a sanitized and physically distant setting. When most employers are instructing employees to work from home, a co-working space serves as an instant go-to place that offers a convenient work environment and basic office facilities like access to a printer, Wi-Fi connectivity, and audio-visual conferencing. These spaces are equipped to handle a post-COVID-19 work environment.

How COVID-19 Makes Co-working Spaces Even More Important?

With a general slowdown in the economy coping with the pandemic hangover and a conservative approach towards business expansion, the future of co-working spaces post COVID-19 is set to mark an all assuming role and emerge as the new norm for the workforce. Growing beyond the domain of freelancers and startups it is likely to attract large corporate houses too. The ‘work from home’ culture cannot continue for infinity and soon companies will be on the lookout for a reasonably decent workplace that lowers their corporate density and at the same time pulls employees from the lackadaisical ‘work from home mode.

Moreover, small business setups are most likely to rely on the shared co-working resources and use them as their lifeline to sustain in the market and keep their boats afloat.

While millions are likely to lose jobs in the post-pandemic world, there is some good news that co-working spaces can offer. With increased professional networking, a rising membership, and more corporates working under one roof, co-working spaces are likely to emerge as the new job hub, churning out more opportunities.

5 Predictions For The Future of Co-working Spaces in the Next Ten Years

Growing with leaps and bounds, the future of co-working spaces has never been so promising as it looks in the next decade. Here are some predictions that take us into the future of these shared spaces.

  • The present 5% share of co-working spaces’ office space market is likely to swell up to 30% by 2030.
  • Besides the stalwarts in the industry, there will be a rise in small co-working spaces in tier-II and tier III towns
  • Customized co-working spaces dedicated to specific industries can gain ground
  • Along with a user-friendly environment, co-working spaces are likely to adopt a more eco-friendly design promoting use of fresh air, natural sunlight, and open spaces reinforcing the idea of sustainability
  • Besides leasing office space, co-working spaces may offer shared talent, research, and technology promoting overall productivity

Turning ‘Work From Home’ to ‘Work Near Home’

The post-pandemic economy is likely to set new norms of business and propagate the future of co-working space across the world. COVID-19 has already set us on a ‘work from home’ mode and teaches us that work can be done beyond corporate offices and luxurious board rooms. As more businesses come to this realization, there will be an increase in consciousness to cut down on transportation between homes and offices and choose workplaces close to residential areas. “Walk to Work” will be the new trend amongst corporates and opting for co-working spaces that keep employees remotely connected to the workplace is perhaps the next big thing that professionals will be eyeing. “Work Near Home” is an opportunity that will be easily grabbed by co-working spaces that draw professionals away from the easily mundane work-from-home cycle. It will also keep employees safe from the risks of congested conventional corporate offices.

Indeed, the future of co-working spaces is brighter than ever before. Post-pandemic times will likely increase the trajectory of this trend because many companies will need alternatives to the regular work model. So, get ready to welcome this new normal and share a workspace that brings you closer to the world while keeping you socially distant.

If you have been considering a coworking space in the future, look no further. WorkSocial is revamped and invites you to join them for a new working experience that will benefit your business and wellness. By promoting good hygiene, creating sanitization measures, and removing the concerns of location, convenience, and costs, WorkSocial is prepared to welcome you aboard. In addition to desk and conference room space, they are well-equipped with virtual office services. WorkSocial will help companies and individuals to access their traditional range of services remotely and hassle-free from home. Move forward with your business’s best interest in hand, and find your workshare home today.

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If you are looking for a new office space in Jersey City, you might be overwhelmed by the variety of options available. From traditional cubicles to modern coworking spaces, from downtown skyscrapers to waterfront buildings, there is something for every taste and budget. But how do you find the best office space for your needs? How do you ensure that your work.

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Having WorkSocial’s private office space for rent in NJ is definitely one of the best choices for small and large businesses alike. WorkSocial offers:
Having WorkSocial’s private office space for rent in NJ is definitely one of the best choices for small and large businesses alike. WorkSocial offers:
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