Co-Working 2.0: Navigating trends set by industry leaders

financialexpress.com:

The co-working space has evolved in India since its inception and has been growing at a swift pace. According to research by Mordor Intelligence, the co-working space market size in India will be USD 1.78 billion in 2023. The market is fuelled owing to the healthy and collaborative work environment it provides for clients across the spectrum, including large organisations, startups, and even small businesses.

Moreover, companies’ bottom lines have also driven the demand for these new-age working spaces, who are offering state-of-the art amenities, tech-enabled workspaces, and flexible tariff options. With the increasing demand, the industry leaders are now moving on the next phase of co-working spaces, where the focus has shifted towards technology, multiple locations, seamless space designs, and enhanced amenities.

The ongoing trends going on in the market suggest that co-working space owners are now more focused on technology. Co-working spaces are providing video conferencing, seamless data sharing, and lightning-fast Wi-Fi connections to meet the demands of new-age organisations. Moreover, smart workspaces are entering a new era brought about by the IoT. It is enabling co-working spaces to optimise resource utilisation with automatic lighting, temperature control, and smart occupancy sensors. Additionally, co-working spaces are utilising client information powered by AI to create customised services, anticipate demands, and boost productivity. In addition, tasks like scheduling and guest sign-ins are streamlined by intelligent automation.

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As the organisations are striving to adopt new ways of working, such as hybrid models, they have realised