Future-Proof Workspaces: 5 Trends Shaping Co-working And Managed Office Spaces In 2024

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Co-working &Managed office spaces are observed as the most popular type of flex spaces which helped the flex industry growth to be catapulted to its optimum potential. But both these types of flex spaces types cater to different business needs and preferences. Managed office spaces provide tailored, fully furnished offices leased to companies seeking dedicated and customized work environments. These spaces often include comprehensive services such as IT support, administrative assistance, and facility management, making them ideal for larger enterprises or businesses looking for a professional setting without the hassle of office management.

Conversely, co-working spaces offer shared environments where individuals from various companies work alongside each other. These spaces are typically more flexible, offering short-term memberships and opportunities for networking and collaboration among diverse professionals, and popular among funded startups, and small businesses due to their cost-effectiveness and community-centric atmosphere. 

Looking ahead to 2024, here are 6 trends shared by Suvrat Jain, Founder & CEO at Onward Workspaces all set to shape Co-working & Managed Office spaces:

• Community building will remain crucial, with networking events and collaborative activities fostering a sense of belonging and better collaboration. This trend will also create numerous roles for Community Managers, essential for nurturing supportive, cohesive communities.
• Flexible membership options will allow businesses to customize plans to their specific needs.
• Corporate partnerships will see co-working providers collaborating with large corporations, offering flexible workspace solutions that benefit both parties.
• The rise of remote work will lead to more co-working spaces in suburban areas, catering to those who prefer working closer to home.
• Enhanced security measures will address growing cybersecurity concerns, ensuring data privacy and user reassurance.
• Eco-friendly practices, such as green building designs and energy-efficient technologies, will attract environmentally conscious businesses.

As being one of Asia's leading office space markets, India accounts for about 50% of the region's total demand. The flex workspace segment in the commercial office market is on a steep rise and earmarked to increase from 7% in 2023 to approximately 12% by 2028, according to Avendus Capital, showcasing a robust growth path for the future.