Private Workspace Industry Trends for 2020 Somerville

What’s in store for the private office industry in 2020?

Like any industry, private offices and coworking environments have experienced dramatic shifts since their beginning over 15 years ago. What started as a simple solution for freelancers and solopreneurs has quickly grown into a multi-million dollar industry that spans the globe and includes small businesses, large corporations, and every type of worker in between.

So far, we’ve seen a rise in coworking spaces in some of the largest and most desirable mid-markets in the country. Many companies prioritize the location of a coworking space to grow their footprint in a particular market, enhance their brand image, and compete for talent ― a trend that’s likely to continue this year.

We’ve also seen an uptick in the number of businesses and freelancers who use virtual offices and assistants to improve their business image. This allows them to have a physical address, phone number, and even a live answering service in the location of their choice, even if they’re miles away.

In the past year, we’ve also seen significant growth in the coworking industry at large as more businesses and solo artists are taking advantage of the cost-saving benefits and boosts in productivity.

What will we see in 2020?Here’s a quick look at some of the hottest trends in office space right now