Coworking memberships have enjoyed steady growth since inception. The Global Coworking Unconference Conference (GCUC) has indicated that memberships are growing at an average annual growth rate of 24.2%. In addition, the number of self-employed people is set to take over the public sector for the first time and predictions are that by 2020, over half of the UK population will be freelancing. However, as the nature of work evolves, we can expect coworking to look differently in 2020 than it does today.
By incorporating more cutting-edge technology, coworking spaces can push the boundaries of collective collaboration and maximise productivity.
It is predicted that we will see a rise of virtual coworking spaces over the coming years. Virtual coworking spaces are online portals where people work from virtual rooms, meaning that members can turn their cameras on, and be able to communicate with other members of the virtual room, just as if they were together in real life. Trends indicate that current coworking spaces will expand to allow members access to the virtual component of their space.
With today’s internet speeds and accessibility, it won’t take long until virtual coworking becomes the new normal. It will be practical and cost-effective, making it easier to become more widespread. Entrepreneurs of the near-future will take advantage of these advancements and thrive more than ever before.
Introduction of Co-Living
In addition to the impact of technology, coworking of the future is set to see operators merge coworking and co-living spaces, offering a cheaper alternative to living in high-rent cities, alongside access to business accelerator programs and networking opportunities.
Coworking and co-living are movements which have deeply ingrained value systems based on collaboration and community. This combination works with the modern-day lifestyle and allows for a new approach to work/life balance – something very important to our Areaworks coworking brand. Furthermore, the rise in coworking members looking for spaces around the world, means that rather than just retreating to a hotel room after a day of working, members can get to know the local people by making their current location a home away from home. By offering these office nomads the option to stay with their professional coworking space, it encourages visitors to get to know other members, which creates increased potential for professional collaborations.
Coworking and co-living spaces are drastically changing the residential and commercial real estate sector. The introduction of the sharing economy is illuminating the hidden potentials of physical spaces and changing the way architecture is used and inhabited.
Read more about the rise of co-living in London in last month’s blog here.