We are living in an era where traditional office spaces are gradually being replaced by modern, flexible models that better suit work needs. Shared workspaces – coworking spaces – are pioneering models in this regard. Understanding coworking trends brings many benefits for both individuals and businesses. This article will provide you with some coworking space trends that continue to shape and develop in 2024 and beyond.
Overview of global coworking space statistics
Since its inception in 2006, the growth rate of coworking spaces has been steadily increasing, reaching 3.94 million users in 2023 and expected to reach 4.99 million users in 2024, with an annual growth rate of approximately 21.3% (according to statista).
According to a study by GlobeNewswire, the coworking space market is projected to increase by an additional $13.35 billion in 2024, equivalent to an annual growth rate of 11%.
Furthermore, a survey by TeamStage indicates that 89% of those who choose to use coworking spaces feel satisfied and find their work improved when working in shared workspaces.
These are huge figures, promising many new trends to meet the needs of coworking space users this year.
Trend #1: Increased Investment in Technology in Coworking Spaces
In 2023, technology and AI were heavily discussed and will continue to be the focus in 2024 and beyond. Coworking spaces not only invest in and apply technology to their models but are also seen as pioneers in implementing technological innovations in the workplace. This will be a revolutionary force in shaping the workspace environment in 2024.
Some technology trends in coworking spaces include:
- Exploring the potential of AI and IoT: Applying artificial intelligence and IoT to automate coworking spaces. This includes smart lighting systems, access control systems, temperature monitoring, air quality monitoring, etc.
- Smart office solutions: Smart office systems optimize time and increase work productivity through task planning tools, room booking optimization, etc.
- Technology facilitates remote work: Remote working has become more popular during the COVID-19 pandemic and continues as a hybrid working model. Technology-equipped coworking spaces ensure the best quality remote connections.
Trend #2: Coworking Spaces Moving Closer to Home and Local Areas
In the predicted dynamic economic landscape of 2024, a significant change will occur in the coworking space model. Shared workspaces near homes and in local areas are emerging. Coworking spaces are becoming more popular than ever, not only in city centers but also in suburban areas with significantly better environmental quality and transportation.
The hybrid working model is still considered a trend and standard today, and coworking spaces offer a perfect solution for those who have a fixed workplace too far from home.
Moreover, in this new era, coworking spaces play a role in building networks and communities.
Trend #3: Focus on Health and Sustainability
Employee health and environmental sustainability will be the top office design trends in 2024, which coworking spaces will also pursue. Employees are always concerned about their physical and mental health and well-being at work. Coworking spaces need to provide adequate air filtration systems, temperature control, supplement gyms, meditation rooms, yoga rooms, and encourage employees to live a healthy lifestyle.
Sustainable, biophilic design is also extremely important. Spaces using renewable energy, environmentally friendly furniture, open spaces with nature will be studied and applied more in the future.
Trend #4: Coworking Spaces Catering to Specific Industries
The concept of coworking spaces tailored to specific industries has been around for a long time and is considered the starting point of the coworking space model. Specialized coworking spaces provide more specialized equipment, environments, and networking. Labs, incubators, studios under the coworking space model are developing rapidly in European countries. Industry-specific coworking spaces also meet the needs of users who prefer less disruption and focus on their work.
Trend #5: Support for Remote Workers
The hybrid working trend – combining fixed and remote work – is very popular today. Coworking spaces recognize this and provide more services to support remote workers. Virtual offices, mail and parcel reception addresses make your work more professional whether you work from home or anywhere else. Flexible seating across the entire coworking space system you sign up for solves the problem of workspace every time you travel or simply want to change your workspace, location for new inspiration.
Trend #6: Further Promotion of Community in Coworking Spaces
Shared workspaces consist of two parts: “coworking” and “space.” The future trend of coworking spaces is to build an inclusive community that develops together. Coworking spaces attract members from many industries, fields with different skills. The “space” will also aim for more diversity in age, gender, and ethnicity to create an environment accessible and welcoming to everyone. The diverse user base of coworking spaces also means an expanded community, creating many more opportunities and strong development.
Trend #7: Customization and Flexibility to Individual Needs
Flexibility and customization of workspace according to individual preferences will be very important and become a trend in 2024. Coworking service providers will have to offer more flexible service packages in terms of time, space, and permissible utilities such as hourly, daily, weekly service subscriptions; private workspace; custom-designed workspace; flexible office expansion, etc.
Trend #8: Globalization of Coworking
Not only a trend but also a common development goal of coworking spaces worldwide. Cross-border workers are increasing significantly, driving the demand for coworking spaces worldwide. In 2024, leading coworking brands are expected to have locations on all continents. This gives users a sense of familiarity and care, thereby ensuring work and increasing productivity.
For businesses using a global coworking space, they bring more opportunities to connect and develop markets at almost no cost. Startups and small businesses have access to opportunities to work anywhere in the world at any time. It can be said that “in 2024, the world is your office.”
In conclusion, coworking space trends in 2024 not only represent innovation in how we work but also a significant step towards a comprehensive and flexible business community, not only maximizing the potential of technology but also building a positive and sustainable work community for the future./.