Coming like an underdog, coworking spaces have given a new name to the entire concept of the workplace today. No business every thought that this trend would completely change the way people work today.
There has also been a massive change in the way millennials work these days. According to a survey conducted in 2019, 47% of millennials look forward to building better communities, 15% are not satisfied with their work culture and 49% of the millennials are ready to quit their jobs if given a choice.
Coworking and its reality today!
Despite the rapid growth the coworking industry is witnessing, there are experts who feel that the sector can soon fall victim to consolidation. Shared workspaces without a profit will be merged or taken over by large and sustainable companies.
With major players entering this sector, the competition level seems to increase day by day. And with more and more competitors trying to be the best, this is becoming a value-centric market, especially in all the metropolitan cities. One of the most essential elements of the shared office spaces is affordability.
The demand for coworking spaces sees no end. All the major players in this industry are trying to give the best to their members in order to remain ahead in the race.
In the last three years, this segment has seen a 300% growth with many firms opening across major cities like Bangalore, Delhi, Mumbai, Hyderabad, and Chennai. The year 2020 is all set to see the same level of madness in this sector or even more.
With the growing number of entrepreneurs, freelancers, startups, and SMEs, millennials are proving their worth every now and then. It is expected that millennials will constitute almost 50%.
Very interestingly, the concept of coworking in India is reaching new levels every passing day and will continue to steer demand.
Gopalan Coworks comes with stylish and comfortable office spaces in Bangalore that best suits businesses of all sizes.