Coworking industry is still relatively new and as the market matures, we will see coworking spaces themselves evolve as well. As part of Kowrk.com’s survey of Founders of these spaces, we analyzed the future outlook i.e. where KoSpace Founders think their industry will be heading in the next 5 years. In this 4th article of the series, we are sharing the three main trends. For anyone planning to start coworking space of their own, these trends are a good guidance for the long term strategy.
A sense of community and a harmonious work culture is one of the bedrocks of KoSpace culture. By specializing in the startups they house (e.g. fintech, fashion, maker-spaces), a stronger sense of community is fostered. Furthermore, these businesses might require expensive, industry-specific tools such as 3d printers, studios, work benches, machinery etc. Specialization allows coworking spaces to invest in these tools which in turn make their business THE place for a startup in the relevant field to work.
This is already evident. There are many coworking spaces that have multiple locations in multiple countries and this trend will only continue. Maintaining a coworking space is expensive and as smaller, local spaces drop out of the market, Founders believe they will be replaced by international chains that provide globally consistent experiences.
Essential ideating hub
Despite the ever-growing, ever-changing market for coworking spaces, one thing will remain constant: Coworking spaces will continue to be a home base for startups, providing opportunities to ideate and innovate with like-minded people. The sense of community and the networking opportunities, to discuss and develop ideas, that coworking spaces offer to entrepreneurs is unrivaled.
As coworking industry continues to evolve, it will head in different directions. These three trends are predicted by the current players in the market. Do you foresee others for this industry? Share your comments and questions in the space below.