The growth of the coworking sector in the U.S. and abroad has left many workforce watchers astonished. According to at least one report, the number of global co-workers has doubled since 2015 and is forecast to continue growing.
Internationally, the co-working market touched approximately $14.9 billion in 2023. It’s anticipated to increase at a compound annual growth rate of 15.7% from 2024 to the end of the decade.
To ensure continual improvement in co-working experiences, companies in the field must incorporate IoT-driven, human-centric, smart solutions, says Fabio Zaniboni, founder and chief vision officer of Clearwater, Fla.-based BubblyNet, a company whose mission is to revolutionize building wellness one space at a time.
For instance, smart circadian lighting can enhance alertness by aligning with circadian rhythms. Smart acoustics systems and sound masking have been shown to reduce distractions by more than 50%, contributing to more focused work. Ventilation and smart HVAC systems improve indoor air quality and reduce health risks, in the process boosting cognitive scores and ultimately bringing about greater productivity.
“Co-working companies are redesigning their spaces with flexible seating, IoT-driven climate control and advanced booking systems,” Zaniboni says. “Automation reduces manual tasks, and a personalized environment enhances focus and productivity. IoT technology delivers a premium work environment that incentivizes the workforce to return to the office.”
Data analytics
What technology best serves co-working owners and managers?
“When addressing efficiency, occupancy [and] spatial use tracking is one of the most valuable forms of data insight for co-working spaces,” Zaniboni says.
“Selection of the right technology is key while navigating the challenges of privacy, installation costs and data analytics.”
As Zaniboni suggests, technology that helps co-working managers better understand how people use the office is increasingly valuable. For example, major employers are using sensors manufactured by companies such as Butir that leverage AI and body heat sensing technology to determine whether office layouts are conducive to productivity and collaboration, says Kathy Keating, Newburyport, Mass.-based principal consultant at ProsInComms, which specializes in marketing communications for B2B tech firms.
“Chair rollbacks, foot traffic, occupancy data and huddles are great and subtle indicators your teams are holding impromptu brainstorms,” Keating adds.
“When individuals reserve conference rooms for solo work, it drives up the building’s energy costs and is a clear sign there isn’t a proper ratio of private [and] public meeting space. The sensors are anonymous. They don’t capture any personally identifiable information. They only detect humans in a space.”
She foresees sensors becoming increasingly ubiquitous in buildings in coming years. Data from the sensors and other sources of CRE information such as wayfinding or reservations will be aggregated to help owners make determinations about office layouts, design and equipment expenditures and lowering buildings’ carbon footprints.
Co-working companies are also using tech-enabled booking systems and mobile apps to simplify users’ task of finding, booking and paying for spaces across coworking locations, says Woodbridge, Va.-based Shawn DuBravac, CEO and president of Avrio Institute, a consultancy helping firms grasp how technological shifts will affect their industries and business models. “These systems often integrate real-time availability, allowing users to see which spaces meet their requirements at any given time,” he adds.
Looking ahead
As co-working matures, spatial tech will become more AI and IoT dependent, Zaniboni believes. AI will read occupancy, efficiency, weather and occupant preferences, to adjust settings automatically. IoT will boost growing processed intelligence, upgrading software over the air and compressing installation and maintenance expenses to a minimum, he says.
DuBravac is another foreseeing AI’s predictive qualities becoming ever more important, and helping the industry to personalize and automate. AI-powered insights will help co-working firms forecast user needs, suggest networking opportunities and maximize room allocation. “Virtual reality might even enable ‘virtual tours’ for remote visitors, while blockchain could support secure membership contracts and payments,” he says.
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