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Large Firms to Opt for Coworking Spaces in 2020: Study

In 2020, more large companies will opt for flexible coworking spaces for their short-term expansion plans

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Coworking space
Large firms will be looking for coworking space for their companies in 2020. PIxabay

In 2020, more large companies will opt for flexible coworking spaces for their short-term expansion plans, says a study that revealed that this segment is no longer driven solely by start-ups, millennials and small and medium-sized enterprises.

While tech-giant Google has already leased office space with coworking operator Simpli Work in Gurugram to expand its operations, even banks and telecom companies are keen on their teams to operate away from headquarters and closer to entrepreneurs, showed the research by real estate services company Anarock Property Consultant.

Coworking space
The coworking sector has also witnessed the entry of major realty players. Pixabay

Towards 2018-end, the total supply of flexible workspaces was anywhere between 7-7.5 million sq. ft. area and it crossed 12 million sq. ft. by the end of 2019.

“Despite the WeWork debacle in the US dominating headlines and raising questions about the future of the co-working business, the segment has emerged as a viable asset class for landlords and operators in India,” said Anuj Puri, Chairman, Anarock.

“The coworking market has grown by leaps and bounds and is a significant factor in the strategy for occupiers,” he added.

There are currently more than 200 co-working players operating across India, with the top seven players in this space alone having more than 350 centres across multiple cities in the country.

These players include Cowrks, WeWork India, Awfis, Regus, Smartworks, 91springboard and OYO’s Workspaces.

“This number is likely to double or even treble in the next two years, given the rate at which these leading players actively leased spaces across major cities in 2019,” Puri said.

The coworking sector has also witnessed the entry of major realty players. Bengaluru-based developer Brigade Group ventured into the coworking segment with the launch of ‘BuzzWorks’.

Oyo Coworking
The coworking space trend continued in 2019 with Oyo taking over Innov8. Wikimedia Commons

Hospitality player Roseate Hotels and Resorts has also forayed into this space by opening its first coworking centre at its hotel ‘Roseate House’ in Delhi’s Aero City.

Even as US-based WeWork’s failed IPO raised doubts about the company’s future, WeWork India’s expansion remained on course.

Owned by realty firm Embassy Group, the company has been mainly funded by Embassy so far and pays a management fee to the parent company.

With 37 operational coworking centres, the company is currently present in Bengaluru, Mumbai, Gurugram, Pune, Noida and Hyderabad.

But 2019 also witnessed a growing wave of consolidation in the sector, in the form of mergers and acquisitions.

In fact, the consolidation wave had already begun in 2018, with major acquisitions like One Co.Work acquiring IShareSpace and AltF CoWorking acquiring Noida-based Daftar India, Puri said.

Also Read- Tech Giant Apple Makes a Comeback At Consumer Electronics Show 2020

“The trend continued in 2019 with Oyo taking over Innov8 for Rs 220 crore. In 2020, we will see smaller or city-specific operators merge with national players looking to enter or establish themselves in tier II, III markets,” he added. (IANS)

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Tech Giant Apple to Release Smart Keyboard with Scissor Design in Year 2020

The iPhone SE 2 will use a 10-layer Substrate-like PCB (SLP) for its motherboard, the same technology used by the iPhone 11's version

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apple, software, updates, iOS
An Apple company logo is seen behind tree branches outside an Apple store in Beijing, Dec. 14, 2018. VOA

Apple is reportedly planning to introduce an updated Smart Keyboard with a scissor switch design alongside its next-generation iPad and iPad Pro models in 2020.

The iPhone maker introduced its scissor-switch keyboard design at the end of 2019 with the 16-inch MacBook Pro. Other MacBooks are also expected to get the keyboard in 2020, the Cult of Mac reported recently.

While, back in July 2019, known Apple analyst Ming-Chi Kuo claimed that iPad keyboards would stick with a rubber dome design rather than scissor switches in 2020-21.

Kuo recently revealed that the iPhone maker is expected to release new iPad Pro models with rear 3D sensing in the first half of 2020.

Kuo in a research note with TF International Securities said the iPad Pro models will gain 3D sensing through the rear-facing camera system.

Apple, women
The Apple logo is shown outside the company’s Worldwide Developers Conference in San Francisco, California. VOA

As per report, Apple is expected to use a time-of-flight system, which measures the time that it takes for light to bounce off of objects in a room to generate a 3D map.

Additionally, Kuo also reiterated that Apple plans to release its low-cost iPhone “SE 2” in the first half of 2020 too.

Also Read: Musk-run Tesla Hits $100-bn Market Value for the First Time

The iPhone SE 2 will use a 10-layer Substrate-like PCB (SLP) for its motherboard, the same technology used by the iPhone 11’s version.

Kuo expects the device to look similar to the iPhone 8 and believes it will be a popular upgrade option for existing iPhone 6 and iPhone 6S owners. (IANS)