August 28, 2019 | By Luis Estrada
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Explore the Benefits of Yardi Kube:
Major Coworking Trends for 2018
December 13, 2017
The year 2017 marked the largest growth in Coworking, and produced all-time highs in number of spaces as well as number of members. As the industry grows and evolves, what are some of the major Coworking trends to look for in the next year? Here are five trends that will shape the continued expansion of Coworking in 2018.
Increasing Demand
It’s estimated that 50% of the population will be working independently by 2020. If this comes to fruition, the demand for shared space will continue to rise at a fast pace in the next year. According to some estimates, there could be up to 37,000 Coworking spaces worldwide by the end of 2018. Those interested in joining the movement see that Coworking has become a symbol of community, connectivity, efficiency, and networking. Not to mention it’s a cheaper alternative than leasing in a traditional office space. The demand will only continue to increase in 2018.
Health
Another trend we could see in the coming year is the value placed on health, both mental and physical. Sure, we’ll continue to see the added benefits of some Coworking locations such as workout spaces and yoga classes. But mental health has been brought to the forefront and working from home, or even in some traditional offices, can create isolation, among other negative factors. Today’s society is searching more and more for the positivity of community, a huge benefit of Coworking.
Larger companies
Coworking spaces tend to gear toward small businesses, freelancers, and entrepreneurs. However larger companies have started to pick up on the trend and realized the added value of working in cross-functional teams instead of in more traditional set ups. Not only does working within a Coworking space offer corporations a more cost-effective alternative to test new and innovative ideas, it also offers them access to other small businesses as well as freelancers. Companies such as Facebook, IBM, HSB, E&Y, and Cisco entered the Coworking world in 2017, and this larger companies trend will continue into 2018.
Coworking in unexpected places
In the very near future, it will be commonplace to find Coworking spaces pop up in previously unthought of locations. Verizon has plans to convert 150 buildings that once housed landlines and operators in NYC, Boston, Philadelphia, and D.C. A nightclub in Philadelphia is also turning its vacancy on weekdays into Coworking space. Underutilized space will have more use the more innovative people become, and the higher the demand grows. Operators of spaces are opening them next to lunch spots or recreational spots to benefit the commuting members who walk or use public transportation to access the office.
Technology
By no means is technology a new trend, but the rate at which its growing, especially within this industry, is incredible, and will continue in 2018. Advancements such as real-time access, keyless door access, automation via apps (billing, check-in, network login, room booking, temperature control, etc), are all going to play bigger roles in how we use shared spaces.
With continued growth in the industry, members and operators will each find ways to meet their needs and advance technologically as well. To find out more about how WUN helps you keep up with all the trends in 2018, please click the link below.
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