Just a few years back, if you were to talk about the best coworking spaces in Hyderabad most people would draw a blank. This isn’t the case anymore. The word “coworking space” has overtaken the corporate world and changed the office space game. But it still has not replaced traditional office spaces, accounting for only 3% of the total office space market. So, the question remains, will coworking spaces remain relevant in 2023 and the coming years? Let’s take a look.
Are coworking spaces still relevant?
Coworking spaces have still not reached their saturation point in India. They are continuing to grow and according to a report by JLL, will likely be crossing 50 million sq ft and account for 4.2% of the office space market by 2023.
With that said, let us examine why 2023 and beyond might be a good set of years for the coworking sector.
Increasing flexible and hybrid workforce
A few years back, people were expected to work from the office. Then the pandemic happened. And work from home became the norm. Now that things are finally getting back to normal, most employees want to have both the perks of working from home as well as dedicated office spaces. And that is exactly what the best coworking spaces in Hyderabad offer. It provides employees with the flexibility to work from an office setting without tying them down to a traditional office model.
Rising demand for productive workspaces
Working from home is not for everyone. And that’s okay. Some people prefer working from offices. Especially when the home environment is not very conducive to a productive workspace. That’s when coworking offices come in handy, It provides an environment that is designed to boost productivity. At iSprout, we offer office space for rent in Hyderabad that comes with fully customizable private cabins and dedicated desks along with a front desk service that caters to your needs so that you can work without any distractions.
Growth of the gig economy
In recent years, there has been a rise in the gig economy. Freelancing alongside a full-time job is becoming a new type of normal. With more companies willing to hire workers remotely, employees no longer have to be tied down to just one company. With work becoming more flexible, there is a need and demand for more coworking office space for rent in Hyderabad where you can focus on work, engage and meet with clients, and even collaborate with other freelancers.
Need for a more collaborative community
Humans are social creatures and cannot work alone for long periods of time. Working from home can be quite lonely and lead to burnout. In a coworking space, you are surrounded by other people. These offices are also designed to be collaborative spaces where you can connect with other professionals, socialize with peers and build a community of like-minded people.
Coworking spaces are not going away anytime soon and will remain so, even beyond 2023. With the rise of a flexible and hybrid workforce, rising demand for productive workspaces, growth of the gig economy, and the need for a collaborative community, coworking spaces will continue to bring in employees from around the world.
iSprout is one of the best coworking spaces in Hyderabad. Our inspiring office spaces are created to match the needs of ever-growing business enterprises. We provide well-serviced spaces, trained support staff, and attractive amenities in prime locations across Hyderabad, Vijayawada, Chennai, and Pune.