The State of Coworking in Asia/Pacific and Implications for Future of Work
Organizations ranging from start-ups to large enterprises across Asia/Pacific are rethinking their workspace design to recruit and retain talent, especially the millennials and Gen Zs, and are utilizing coworking spaces to benefit from the numerous benefits these offer, including cost reduction, the ability to flex up and down on a need basis, and collaboration and innovation. This IDC Perspective provides an overview of the coworking space market across Asia/Pacific, covering countries such as India, Australia, Singapore, China, Malaysia, Thailand, Vietnam, and Indonesia. It also provides guidance for technology buyers on how to critically evaluate available coworking space options to maximize their opportunities and benefits. "Coworking spaces are breaking the conventional boundaries of traditional workplaces. As younger generations join the workforce, organizations are impelled to redefine their working environment to meet their demands for flexible, anytime, anywhere working policies. Adoption of coworking is growing exponentially in Asia/Pacific not just by startups and SMBs, but even by many large enterprises as well, which testifies that coworking spaces offer much more than just flex capacity and cost benefits. Therefore, it's time that organizations stop looking at coworking from the myopic lens of cost savings alone, rather, they should look at it as a catalyst that can help forge relationships with the broader ecosystem to spur collaboration, innovation, mobility, and networking," said Deepan Pathy, Research Manager, Future of Work, IDC Asia/Pacific.
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