By 2016, almost 45 million people in the U.S. participated in the sharing economy in some way or another. Millennials in particular have paved the way for sharing assets to grow and research expects that the sector will reach $335 billion by 2025.
One of the biggest trends to emerge from this sector are coworking spaces as they provide access to a shared office, as well as collaborative opportunities.
While coworking had its start thanks to startups and entrepreneurs, small and medium enterprises (SMEs) have become a large part of the sector’s client-base as well.
The coworking industry has grown tremendously in the past two years alone, and the rising number of operators has led to tight competition. While this could lead to consolidation and acquisitions, the sector is expected to continue flourishing.
Additionally, technology has played a huge role in fueling coworking’s growth and it has quickly become less of a niche offering and part of the norm. Technology advancements in coworking spaces have allowed employees from across the workforce to connect, communicate and collaborate with their colleagues, no matter where they are working from.
Technological advancements are only going to continue to push coworking’s growth with the integration of artificial intelligence (AI), machine learning, the Internet of Things (IoT) and more.
