Women make up 40% of the coworking demographic.
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As part of our research study, we decided to discover the sustainability of co-working spaces Globally through a secondary data mining method.
Coworking is here to stay. It was here to stay before the coronavirus pandemic; but the onset of the COVID-19 pandemic has solidified coworking’s standing as a preferable workspace solution.
In the early days of coworking, many argued it was nothing more than a movement and trend that would eventually fade away.
Twelve years later, what started as a movement has become a full-blown industry that has entirely disrupted the way people lease and use office space. As demand for coworking spaces has risen and the industry evolved, so has the terminology.
Today, many people use coworking, flexible workspace, and workspace-as-a-service to refer to the same thing. One thing is clear, regardless of the term you decide to use, flexible work environments are here to stay.
We found some really useful information in our data, which will really surprise you.
From trend to mainstream
The Oxford English Dictionary defines normal as: “the usual, typical, or expected state or condition.” As Sara King notes in this article, coworking could arguably be classed as a ‘new normal’ for workplace requirements. And we think that’s spot on.
Coworking spaces have become the expected and preferred workplace of today’s workforce. This is now truer than ever, especially as more companies shift to permanent remote work options following the coronavirus pandemic.
Companies adopting hybrid work models are incorporating flexible workspace solutions into their real estate strategies in order to cater to the needs of remote workers across different cities and countries.
It’s not just the increased adoption from corporates that points to coworking being the new, preferred normal; it’s also the increased interest the coworking industry is experiencing from landlords, property developers, and investors alike.
Here is a Summary of Our Key Findings:
- 1In 2021, the United States ranked #1 for the foremost number of coworking areas globally (3,762), followed by India (2,197) and therefore the UK (1,044).
- 213% of businesses outside the US would be using shared workspaces by 2022.
- 3In Asia desk costs are the highest in Hong Kong.
- 4A company can save as much as 30% on the operational cost alone by working from a coworking space.
We have detailed data and information of our findings below.
1. Current Coworking Market Size
The Oxford English Dictionary defines normal as: “the usual, typical, or expected state or condition.” As Sara King notes in this article, coworking could arguably be classed as a ‘new normal’ for workplace requirements. And we think that’s spot on.
Coworking spaces have become the expected and preferred workplace of today’s workforce. This is now truer than ever, especially as more companies shift to permanent remote work options following the coronavirus pandemic.
Source: ergonomictrends.com
Source: ergonomictrends.com
2. Expected Coworking Market Growth
The Oxford English Dictionary defines normal as: “the usual, typical, or expected state or condition.” As Sara King notes in this article, coworking could arguably be classed as a ‘new normal’ for workplace requirements. And we think that’s spot on.
Coworking spaces have become the expected and preferred workplace of today’s workforce. This is now truer than ever, especially as more companies shift to permanent remote work options following the coronavirus pandemic.
Ramesh Nair,JLL India Country Head and CEO
Future of co-working will be bright. Today a lot of companies and enterprises want flexibility. Lot of corporates don't want to make capital expenditure on office interiors and they are increasingly opting for co-working spaces,
3. Coworking & Pricing
The Oxford English Dictionary defines normal as: “the usual, typical, or expected state or condition.” As Sara King notes in this article, coworking could arguably be classed as a ‘new normal’ for workplace requirements. And we think that’s spot on.
Coworking spaces have become the expected and preferred workplace of today’s workforce. This is now truer than ever, especially as more companies shift to permanent remote work options following the coronavirus pandemic.
2018: $206
2019: $187
2020: $183
2021: $189
Amy Nelson,founder and CEO, Riveter
People will always need, and will be looking for, a place to connect, find community, and to find a purpose. That’s what brought people to co-working spaces in the first place.
4. Coworking Benefits
The Oxford English Dictionary defines normal as: “the usual, typical, or expected state or condition.” As Sara King notes in this article, coworking could arguably be classed as a ‘new normal’ for workplace requirements. And we think that’s spot on.
Coworking spaces have become the expected and preferred workplace of today’s workforce. This is now truer than ever, especially as more companies shift to permanent remote work options following the coronavirus pandemic.
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About The Author
Editor-in-Chief : Ishant Sharma
Ishant is a part-time freelance editor, content manager and a full-time operation manager at Affilytics Pvt. Ltd. . Having an experience of 8 years in the publishing/ e-solution industry, he manages a small team of fellow editors and has worked with several publishing giants like Wiley, Elsevier and EBSCO. He is a stickler for accuracy and loves to read noir-fiction and binge-watch anthologies.