‘13 million will opt for co-working spaces by 2020’

The region’s stock of flexible floor space is growing at 35.7 per cent per year compared to 25.7 percent in the US and 21.6 per cent in Europe.

The potential market size of co-working across India is expected to be 13.5 million users by 2020 about half of which will be from enterprises, which are expected to take up 10.3 mn seats. Freelancers and Small & Medium Enterprises (SMEs) are expected to contribute 1.5 million users worth of demand, while it is anticipated that startups will demand upto 100,000 seats by 2020. The report further indicates, that the top six cities will require an estimated 5 million seats in co-working spaces, while, 8.5 million of the projected demand will be in Tier 2 and 3 cities.

The report, which looks at major co-working and serviced office operators in 12 Asia Pacific markets, including India, reveals that the number of major flexible space operators has doubled, while flexible floor space has increased by 150 per cent between 2014 and 2017. 

“In India, the co-working segment is expected to grow by 40-50% in 2018 alone. By the end of the year, we anticipate flexible workplaces would attract investment upto $ 400 mn. With over 200 premium business centres across the country, set to double by 2020, co-working spaces will reflect the global trend of being closer to 20% of total workspace,” said Sandeep Sethi - MD, Integrated Facilities Management West Asia, JLL.