The pandemic changed many things around the world, including the concept of office space. Although coworking spaces existed before the pandemic, the concept has witnessed a spike. When companies are trying to strike a balance between productivity and cost reduction, the coworking market in India offers a practical solution to the pressing occupier wants and needs.
As per the reports of Savills, by 2023, coworking rentals will account for 12 million square feet or around 20% of all leases. As compared to 2019, when this market accounted for 14% of all office leasing in India, this shows massive growth.
💡 Are you looking for Coworking space in Gurgaon, Noida or Delhi?. We are just a call away.
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The coworking space market will keep growing throughout the 2023 year since most organizations are trying to find the right balance between total pricing optimization, employee motivation, productivity, and cooperation. Some of the future trends of Coworking spaces in 2023 are listed below:
10 future trends of Coworking spaces in 2023
- Rapid urbanization and rising demand for flexible working spaces
- Boost in technology and digitization
- Growth of Tier 2 and Tier 3 cities
- Increased focus on community
- Growth in investment and partnerships
- Expansion into new segments
- Focus on sustainability and wellness
- Integration of AI and automation
- Amenities
- Flexible Workspaces
1. Rapid urbanization and rising demand for flexible working spaces
With the growing urbanization and increased number of startups, remote workers, and freelancers, there has been a demand for flexible working lately in India. This has led to the growth of coworking spaces in the country.
2. Boost in technology and digitization
The digitization of businesses has resulted in a rise in remote work opportunities. This has ultimately led to an increase in demand for coworking spaces in the country.
3. Growth of Tier 2 and Tier 3 cities
The concept of coworking spaces has also been accepted well by the Tier 2 and Tier 3 cities in India. Earlier, it was only a Tier-1 thing.
4. Increased focus on community
Many coworking spaces in India like The Office Pass (TOP) now focus on coming up with a community feel. They offer workshops, networking events, and other community-building activities.
5. Growth in investment and partnerships
As the coworking industry is growing, it has also been able to attract investors. Therefore, huge investments and partnerships in the sector are growing now.
6. Expansion into new segments
Coworking spaces are expanding into new sections such as managed offices, incubation and acceleration centers, co-living spaces, and co-retail spaces. It provides a complete ecosystem for businesses.
7. Focus on sustainability and wellness
In order to bring a more favorable work environment, coworking spaces in India focus on sustainability and wellness. This helps in attracting environmentally conscious clients.
8. Integration of AI and automation
AI and automation have been added to the coworking spaces in the form of automated face recognition for access control. It is expected to improvise operational competence and augment the overall user experience.
9. Amenities
Coworking spaces in India come up with facilities such as printing facilities, high-speed internet, meeting rooms, conference rooms and private offices to attract more businesses, entrepreneurs, remote workers, freelancers, etc.
10. Flexible Workspaces
Coworking spaces in India offer flexible plans, such as part-time or full-time memberships, and day passes. This has been seen to be appreciated by businesses and startups. Â
💡 Are you looking for Coworking space in Gurgaon, Noida or Delhi?. We are just a call away.
Call now: 08999 828282
The coworking industry in India is expected to grow significantly in the coming years, with a focus on technology, sustainability, and wellness. If you want to find the best coworking space in Delhi NCR, you can choose The Office Pass (TOP) without a second thought. Contact us at 08999 828282 for a site visit.
