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Proptech trends disrupting flexible workspace industry in 2020
Research - DECEMBER 13, 2019

Proptech trends disrupting flexible workspace industry in 2020

by Released

Real estate businesses are demonstrating a positive outlook toward new proptech innovations, with the majority believing that it will disrupt the industry significantly. And this doesn’t only apply to traditional real estate; proptech is disrupting the world of flexible workspace in a big way according to research collated by Instant Offices.

According to a Global Proptech Survey by KPMG, real estate decision-makers predicted which proptech trends would have the biggest short-term impact on the real estate industry. The front-runners were:

  • Automation: 30 percent predict it will have the biggest impact in the industry, and 31 percent say their business is most likely to use it in the short term.
  • Big Data: 27 percent predict it will have the biggest impact in the industry, while 27 percent say their business is most likely to use it in the short term.
  • Internet of Things: 11 percent predict it will have the biggest impact in the industry, and 12 percent say their business is most likely to use it in the short term.
  • Artificial Intelligence: 11 percent predict it will have the biggest impact in the industry, and 6 percent say their business is most likely to use it in the short term.

Proptech Trends in the Flex Space

  • Automation: More day-to-day operational tasks in the workspace are becoming automated, with systems that can seamlessly manage new members, billing, mail sorting and more. This frees up the serviced office staff to focus on their clients. Automation also includes the rise of “smart building” innovations such as intelligent glass windows that work to maximize natural light while reducing glare. This trend is improving the overall flow of work and the function of the workspace.
  • Big Data: Collecting and analyzing data provides valuable insights for flex space operators to design smarter, more efficient workspaces that offer more of what occupiers value. Interesting to note, a whitepaper from IDC estimates that by 2025, 75 percent of the world’s population will interact with data on a daily basis.
  • Internet of Things: IoT-enabled devices and applications can make it much easier to manage a successful shared office space. Biometric access, smart security cameras and smart payment are just a few examples of how IoT makes the process smoother.
  • Artificial Intelligence: From augmented and virtual reality to cryptocurrency and blockchain-based smart contracts, AI applications are fast becoming the norm in the workplace of the future.

Advances in proptech are making flexible and remote working easier than ever, and there is a growing talent pool of qualified young workers looking for a more flexible approach to work. This is motivating more businesses to forego traditional long-term leases in favor of flexible space, co-working space and hot desk memberships.

These occupiers are looking for a “service experience” from their office space. It’s not just about putting a roof over their heads — it’s about putting real thought into what the occupiers want and how to deliver it. In a nutshell, the growth of proptech is allowing flexible workspace providers to take a more customer-centric approach to their offerings.

Edward Harbinson, corporate marketing manager at The Instant Group, said, “Proptech and flexible workspace growth have been synonymous — they have both exploded over the last two to three years. Ultimately, the evolution of proptech will ensure that flexible workspaces are fully equipped to deal with current and future demand from companies of all sizes and from all sectors. With the introduction of innovative booking systems and connectivity through IoT, technology in the workplace is better than ever before.

“Proptech has also seen advances in the form of automating admin tasks, improving efficiencies and also improvements in the fit-out/built environment with improved wayfinding and desk booking, adaptable furniture and advanced glazing systems — all with improved efficiency in mind.”

There is a greater emphasis on tenant experience, convenience and comfort, which is helping operators to differentiate themselves in a highly competitive market. Smart building applications and other uses of cutting-edge proptech are helping to keep the flexible office industry ahead of the curve.

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