The coworking industry is a force to be reckoned with. Over the last decade, it has experienced rapid growth, and with estimations of there being over 26,000 coworking spaces globally by 2020, it shows no sign of slowing down.
However, with an increased demand for coworking spaces and access to new technologies, it’s only natural that the industry will see some changes. Here we share 4 of predictions for the future of coworking.
Rise of smaller coworking players
There are currently several big players dominating the market, including global giants, We Work, offering coworking offices to everyone from entrepreneurs to large corporations. However, in the next year or so, we predict an increase in demand for coworking spaces within niche areas. This leaves the door open for small providers to fill the gap.
Large companies tend to be slow to implement change and although great at supporting mainstream companies; they’re not always as effective at fulfilling the niche requirements of remote workers. For this reason, we believe 2020 will be the year of small coworking providers, offering something a little more unique in the way of office environments.
Industry-specific coworking spaces
On the back of this, we believe the industry is also likely to see a new generation of coworking spaces dedicated to specific industries. These spaces will be equipped with technology aligned with the needs of those working within a particular industry. The benefit of industry-specific coworking spaces being to increase collaboration and create a closer sense of community to drive success.
A great example is the food industry, where product testing is paramount. At the moment, coworking spaces aren’t typically designed or equipped with the technology to handle the product development and testing stages. However, there’s nothing to say this won’t become a thing. There’s a gap in the market, and someone’s bound to fill it.
Focus on sustainability
Both new and existing coworking spaces will continue to put sustainability at the forefront of their designs, utilising natural light, greenery and recycled materials in their build-outs.
We also expect to see more companies utilising the latest IoT technology to automate controls within coworking spaces (such as for energy usage) to increase efficiency while keeping costs to a minimum.
Increase in corporate groups using coworking for R&D
Our final prediction is that there will be an increase in the number of corporate companies using coworking spaces. Not only does it allow them to save on the cost and commitment of traditional office leases but also lets them access talent and technology that they may not already have within their companies.
This is particularly beneficial when it comes to research and development. Aside from being full of people with a wide range of skills that can be called upon, coworking spaces are also designed in a way that inspires creativity, making them a more favourable environment for increasing productivity.
The future of coworking
Whether these predictions come true, only time will tell. However, what we are certain of is that the future is bright for the coworking industry.
Looking for coworking space in Gibraltar? Call or email today to find your team and join the action.
The WorkLab Gibraltar – Coworking and Meeting Rooms
The WorkLab, situated in the heart of Gibraltar’s business district, showcases an emerging paradigm for coworking spaces. The beautifully designed facility coupled with its curated range of services offers entrepreneurs a relaxed yet professional work setting. There are individual workspaces with an equal emphasis on communal spaces like chill-out zones, an outdoor terrace and a bespoke kitchen offering unlimited complimentary tea and coffee. The facility also provides:
- State of the art conference rooms,
- High-speed WiFi,
- 24 hour access,
- Front desk service
- Administrative services such as mail handling, travel and reservation booking and document certification.
The best part of such coworking spaces is that it allows everyone the opportunity to become part of a community, while still meeting their professional commitments. Coworking is the best kind of test drive. There’s absolutely no risk on the table and the benefits… potentially limitless.