Coworking spaces is not another term any longer. If you work in a Level I city in India, you'll have the option to find coworking spaces at each niche and corner. Only a couple of years back coworking spaces were for all intents and purposes unbelievable. They just turned into a prominent sight in corporate India as of late.
History of coworking spaces in India
To follow back the historical backdrop of coworking spaces in India, we should initially take a gander at how coworking spaces occurred inany case. That will return us to 1999 when a planner by the name of BernardDeKoven coined "coworking" which he used to allude to the possibility of a spot where individuals could work and team up.
Quick forward to 2002, when the first coworking space arose in Vienna, Austria where PR experts, new businesses, and specialists could team up. Then in 2005, in San Francisco, the cutting-edge coworking space as far as we might be concerned today, was begun by Brad Neuberg.
In India, coworking spaces began in 2012 when 91Springboard opened its doors. After this, the number of coworking spaces began too almost double. iSprout also opened its first coworking space back in 2017 during a time when coworking spaces were relatively new. Right now, there are more than 2,197 coworking spaces around the country which accounts for 3% of total office stock.
What is ahead for India's coworking spaces?
The meteoric rise of coworking spaces in India from a concept to a near-household name among employees and employers deserves applause. With the shift towards a more flexible working style, coworking spaces will continue to hold a prominent space in the commercial real estate sector. The flexibility it offers, cost-efficiency, collaborative atmosphere, and amenities make coworking spaces a vital part of the current work culture.
Cities like Bangalore, Mumbai, Hyderabad, Delhi- NCR, Pune, and Kolkata lead the race when it comes to the number of coworking spaces located within their boundaries. With Bangalore and Hyderabad accounting for at least 50% of the total demand share. By the end of 2023, it is expected that coworking spaces will cross 50 million square feet in India.
The market space in coworking will not just be dominated by startups and freelancers. Large corporations also want to dip their hands into the growing coworking space. Prior to the pandemic, large corporations avoided coworking spaces. But after the pandemic, all these large corporations are renting out coworking spaces for their employees due to their flexibility and much lower costs.
Another shift in demand is from an open shared floor to dedicated cabins. Most people have this idea about coworking offices being large open floor spaces with dedicated chairs and tables per employee. Though this idea still holds true, there is a shift towards more privacy within the coworking space. This resulted in companies asking for dedicated cabins within the coworking office space. Keeping in mind this shift, iSprout offers fully furnished office spaces for your entire team with exclusive meeting rooms, all designed according to your specific requirements.
There will also be abig shift towards Tier-II and Tier-III cities. Most of the best coworking spaces in India are currently in Tier-I cities like Mumbai, Bangalore, Hyderabad, Delhi, etc. But with employees having the option to work from home, companies are more likely to finance a coworking space in smaller cities and towns rather than shifting their employees to a major city. iSprout has multiple offices in major cities like Hyderabad and Chennai as well as smaller cities like Vijayawada. This makes it easy for employees to shift from one office to another office without having to shift to a newcity.
Final thoughts
The trend and culture of coworking spaces in India are here to stay and will continue rising for more years to come. The future of these coworking spaces
looks great right now. We can safely say that coworking culture will be a future driving forceof corporate India.
Here at iSprout, we help empower businesses with our inspiring and flexible coworking spaces. Be it a dedicated desk or a ready-to-move-in office, iSprout has it all. We offer office spaces in prime locations across multiple cities including Hyderabad, Chennai, Vijayawada, Bengaluru, and Pune.