Sharing economy services have exploded in popularity over recent years, with many expecting this trend to continue. The total value of the global sharing economy has been predicted to increase to over ************ U.S. dollars by 2030, up from *** billion U.S. dollars in 2024. This has translated to a compound annual growth rate (CAGR) of approximately ** percent. The sharing economyThe sharing economy is where assets owned by members of a network can be temporarily accessed by other members of the network, generally through an online platform. This differs from traditional businesses, whereby goods and services are owned by a single owner and then rented to the public. Because of this difference, sharing economy companies often escape industry regulations. The two most common examples of the sharing economy are the sharing of private vehicles via ride-hailing apps such as Uber, and the various other sharing economy businesses – predominantly Airbnb, that has left its mark globally. Coworking, where workers from different organizations can access shared office space, is also considered part of the sharing economy. RegulationThe growth predicted above assumes that the sharing economy retains its position outside of industry regulations – something that is not certain. For example, opinions of Canadians on how the government should regulate Uber have been that they should be regulated in the same way as taxis, which would raise licensing and staffing costs. This would of course increase the cost to the consumer. What has kept customers however, are the top benefits consumers recognize from using sharing economy services, such as it generally being cheaper for users.

There were **** million adults using the increasingly popular sharing economy services in the United States in 2016. This figure was forecast to increase to **** million by 2021. The rise of the sharing economy The sharing economy is a way in which consumers can share and use services not owned by a single user but by private individuals. This can either be for free, for a fee, or through bartering and exchanging goods. Companies that would come under this classification are Airbnb, Uber, eBay and many more. These services have become increasingly popular in recent years with the rise of smartphones and apps through which these companies can offer consumers an easily accessible platform. Airbnb controversy While Airbnb had a company value of ** billion U.S. dollars in 2018, there has been some controversy surrounding the company. This is mainly due to the concerns over the safety and privacy of those using the service. In a 2017 survey, 36 percent of the respondents said privacy concerns were a reason not to use Airbnb and ** percent stated safety concerns as a reason not to use the app.

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Sharing Economy Market Size 2025-2029

The sharing economy market size is forecast to increase by USD 1118.8 billion, at a CAGR of 32.3% between 2024 and 2029.

The market is experiencing significant growth, driven by the increasing popularity of online ride-hailing services. This trend is fueled by the convenience and affordability these services offer, enabling users to access transportation on demand. Another key driver is the adoption of blockchain technology in the sharing economy, which enhances security and trust between users, facilitating seamless transactions. However, the market also faces regulatory challenges, as governments grapple with the complexities of overseeing peer-to-peer transactions and ensuring consumer protection.
Companies looking to capitalize on the opportunities presented by the sharing economy must navigate these regulatory hurdles while maintaining a focus on innovation and user experience. Effective strategic planning and operational agility will be essential for success in this dynamic market.

What will be the Size of the Sharing Economy Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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The market continues to evolve, with digital platforms revolutionizing various sectors through peer-to-peer transactions and collaborative consumption. Platform governance and digital identity play crucial roles in ensuring trust and safety, while user experience and mobile applications enhance accessibility. User reviews and community marketplaces foster community building and customer loyalty. Technology adoption, including machine learning and artificial intelligence, drives operational efficiency and innovation. Trust and safety measures, such as security measures and reputation management, mitigate risks. Monetization strategies, including peer-to-peer lending and revenue streams, enable platform sustainability. Circular economy principles and sustainable consumption are gaining traction, aligning with social responsibility and economic sustainability.

Legal frameworks and network effects shape the regulatory landscape, while pricing models and network effects influence market dynamics. The future of work is evolving, with freelancing platforms and task rabbiting shaping the gig economy. Blockchain technology and smart contracts offer potential solutions for trust, transparency, and decentralized finance. Insuring against risks and managing tax implications remain critical considerations. Continuous innovation and adaptation are essential for success in the market. Platforms must prioritize user experience, trust and safety, and operational efficiency while navigating regulatory frameworks and social impact.

How is this Sharing Economy Industry segmented?

The sharing economy industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Sharing accommodation
  Sharing transport
  Sharing finance
  Others


End-user

  Individual
  Business


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    UK


  APAC

    China
    Japan
    South Korea


  South America

    Brazil


  Rest of World (ROW)

By Type Insights

The sharing accommodation segment is estimated to witness significant growth during the forecast period.

The market in the US is characterized by robust competition among digital platforms that facilitate peer-to-peer transactions in various sectors, including accommodation, freelancing, and peer-to-peer lending. Sharing economy regulations continue to evolve, shaping the market's dynamics. In the accommodation sector, individuals rent or share their living spaces through online platforms, offering cost-effective, flexible alternatives to traditional lodging. This trend is particularly popular among budget-conscious consumers, students, and those seeking affordable short-term stays. Platform governance and user experience are crucial factors in building customer loyalty and trust. Digital identity and user reviews play a significant role in ensuring trust and safety.

Payment gateways enable seamless transactions, while machine learning and artificial intelligence power personalized recommendations and pricing models. The circular economy and sustainable consumption are gaining traction, with many platforms emphasizing the social impact of their services. Operational efficiency and security measures are essential for platform monetization. Community marketplaces and community building foster network effects, driving user acquisition and revenue streams. Peer-to-peer lending platforms offer alternative financing options, while task rabbiting e

Global Sharing Economy market size was USD 145.22 Billion in 2022. Sharing Economy Industry's Compound Annual Growth Rate will be 32.6% from 2023 to 2030. What is driving the Sharing Economy Market?

The proliferation of advanced digital platforms and devices

In recent years, the sharing economy has changed the way individuals share and conduct transactions in digital areas. The recent technological advancements have enabled transactions to take place on demand, to be precisely measurable in time and thus more scalable, and to be dynamically matched through an online platform. Advanced digital platforms and devices, such as smartphones and high-speed internet, have increased connectivity. This connectivity enables sharing economy platforms to connect providers and consumers effortlessly. People can easily access sharing economy services through mobile apps or websites, facilitating resource and service sharing. Digital platforms provide users with easy access to information about available resources and services. Through sharing economy platforms, individuals can quickly find and compare options, making it convenient to rent or share assets. The availability of detailed listings, photos, reviews, and ratings helps users make informed decisions and build trust in the sharing economy ecosystem. The companies in the sharing economy are growing as a result of profound shifts in consumer behavior. One of the major players in sharing economy is Uber which has in just a few years completely transformed industries and became the largest player in the sharing economy. Uber manages around 157 000 rides globally on an average day. According to Uber, 131 million people used Uber in 2022, an 11% increase by 2021. Moreover, the increasing adoption of smartphones is supporting the growth of the sharing economy. Smartphones provide individuals with constant access to sharing economy platforms, enabling on-the-go booking, real-time communication with service providers, and instant updates. The convenience and mobility offered by smartphones have significantly expanded the reach and usage of sharing economy services. According to the source GSMA Intelligence, smartphones accounted for 68% of total mobile connections in 2020,8 compared to 64% in 2019 and 47% in 2016 across the world. Thus, the increasing usage of smartphones globally led to adopt the digital platforms, which in turn fuels the growth of the sharing economy. Furthermore, the development of advanced digital platforms prioritizes user experience and offers intuitive interfaces by allowing individuals to easily navigate and interact with the platforms. Companies are increasingly expanding their business in the shared mobility industry and developing innovative platforms for users. For instance, Force Motors launched a next-generation shared mobility platform called Urbania. The simplicity and convenience of these platforms make it easy for users to engage in sharing activities, accelerating the growth of the sharing economy market. These technological advancements for the development of cost-effective products have been contributing to driving the growth and adoption of sharing economy services.

Changing consumer preferences fuels the market growth


Rising focus on sustainability and environmental consciousness (Access Detailed Analysis in the Full Report Version)


Substantial growth of the entertainment industry (Access Detailed Analysis in the Full Report Version)

Introduction of Sharing Economy

The sharing economy is an economic model defined as a peer-to-peer (P2P) based activity of providing, acquiring, or sharing access to goods and services that is often facilitated by a community-based online platform. Sharing economy (SE) is a relatively new field of economics, gaining more traction from various industries. It has several applications in materials, transportation, hospitality, and sharing of information and knowledge. SE is related to various economic and environmental aspects such as sustainability, environment-friendly practices, circularity, less production, and more responsible use of resources. Sharing economy helps connect goods and services seekers with their providers using technology. It helps businesses reduce costs and increase efficiency along with environment-friendly choices for consumers. Further, some prominent factors that led to the boost of economy sharing are...

The statistic shows the projected growth rate of global sharing economy and traditional rental between 2013 and 2025. The source forecasted that between 2013 and 2025, the use of car sharing in the global sharing economy would increase by ** percent.

Indication of whether household members used services in the sharing economy. The data are from the Households and the Environment Survey.

Total global revenue from sharing economy platform is expected to reach **** billion U.S. dollars in 2022. The sharing economy The sharing economy is where technology is used to match private owners of a product or service directly with consumers. This differs from traditional arrangements as the company who offers the product or service does not own it, they only facilitate an interaction between individuals. Uber is probably the name most associated with the sharing economy, whose online platform allowed for ridesharing services at rates generally cheaper than traditional taxies, leading to the company generating **** billion U.S. dollars in revenue in 2018. Airbnb is the other most prominent company within the sharing economy, providing an online platform allowing for private residential space to be rented to travelers. In most cases, this allows for accommodation at prices below that of a hotel. Further growth While the sharing economy overall is expected to continue growing, the market value of both Uber and Airbnb is slowing. There are several reasons for this. First, both companies have lost their first mover advantage, whereby being the first company of their type allowed for rapid growth. For example, Chinese ridesharing company DiDi was founded three years after Uber but started operating in the Chinese market several years before Uber. This allowed DiDi to eventually purchase Uber’s Chinese operations, making them now the second largest ridesharing company globally. The second reason is the increasing regulation of these services, which were often set up specifically to escape regulation. For example, in 2018 Berlin banned the renting of full apartments through Airbnb and in 2019, New York City implemented regulations requiring all ridesharing drivers to be paid a minimum wage of ***** U.S. dollars per hour before expenses (or ***** U.S. dollars after expenses).

With an ever increasing focus on sustainability and technological innovations, we've looked at how the UK sharing economy has performed over the past five years.

Abstract The term sharing economy is used in specialized literature to identify how the Internet, smartphones, and applications are changing the global economic dynamic. This article presents documentary research focused on private sharing applications that have emerged in recent decades, intending to contribute to the improvement of local public management. Descriptive data analysis and regression were used to characterize the local governments’ adherence to new technologies and to identify how these new technologies affect the fiscal performance of municipalities measured by the FIRJAN Fiscal Management Index. The results obtained show that shared economy Apps can contribute in different ways, with emphasis on greater cooperation and coordination within and between local governments, reduction in the underutilization of assets, greater access and improvement in the quality of public services, and greater interaction and citizen participation in public decisions. The estimated regression shows that the use of new communication technologies contributes to improving the municipalities’ fiscal performance. However, these technologies are little used and should be encouraged in local public administrations.

In response to user demand, the Office for National Statistics (ONS) has undertaken a feasibility study to explore potential ways that the sharing economy could be measured and has outlined action points for further work required in this area. This report summarises work undertaken by ONS so far and considers the use of a survey, administrative data and big data to collect information on the sharing economy.

Financial overview and grant giving statistics of Sharing Economy Research Institute Silicone Valley

The Shared Economy, often referred to as the collaborative economy, represents a transformative shift in how resources and services are exchanged across various sectors. It leverages digital platforms to enable individuals to share their assets, whether they be cars, accommodation, or skills, fostering a culture of

The statistic shows the projected compound annual growth rate of key sharing economy sectors worldwide between 2013 and 2025. The source forecasted that between 2013 and 2025, the use of car sharing in the global sharing economy would increase by ** percent.

The Sharing Economy market, a transformative force reshaping various industries, revolves around the collaborative consumption of resources, services, and experiences. This model leverages technology to allow individuals to share access to goods and services, creating a more sustainable economic ecosystem. As highli

This data set contains:

Cleaned data files of the 2017 survey on participation, privacy, and power in the sharing economy across 12 countries. Data are in sav (for SPSS), xlsx, and csv format.

Survey questionnaires in 10 languages (zipped PDFs)

Methodological Appendix

This EU Horizon 2020 Research Project: Ps2Share was concerned with questions of participation, privacy, and power in the sharing economy. With funding granted by the European Commission's Horizon 2020 Growth Strategy, this one-year research project was conducted by a consortium of international researchers from Norway, Germany, The Netherlands, Italy, Denmark, and Switzerland.

The emergence of innovative platforms has extended the notion of online sharing to the vibrant new domain of sharing of material goods and services. We call this phenomenon 'the sharing economy'. With companies such as Airbnb, Uber, Taskrabbit, and Transferwise dominating the market, user numbers of sharing services have skyrocketed and expect to grow further, enabling ever new avenues of economic and social interaction to appear.

The sharing economy promises to provide more inclusive business opportunities for individuals of various skills levels and resource endowment. However, the public rhetoric of chances, growth, and inclusion frequently contrasts with the risks, concerns, disadvantages, and exclusion in the experience of a variety of users. These platforms, extending into the private and physical realm of their users, create compound privacy risks and increase the potential for exclusion and discrimination through ratings-based sanctioning. In facing the ongoing growth of the sharing economy, we are presented with a variety of challenges, which need to be addressed.

With our research, we hope to facilitate public deliberation on desirable practices and policies. Our overarching objective is to identify key challenges of the sharing economy and improve Europe’s digital services through providing recommendations to Europe’s institutions. These will include schools and companies, as well as governmental and non-governmental organisations.

In constructing policy, we aim to provide steps toward more modern regulatory and policymaking approaches, helping to create a more balanced digitized economy that is socially acceptable to all. We aim to foster better awareness of the consequences which technologies, networks, and new digital media have on the way people behave, think, interact, and socialise as persons, citizens, workers, and consumers across Europe.

Further information and reports can be found at www.ps2share.eu

Contact:

Professor Christian Fieseler, BI Norwegian Business School, christian.fieseler@bi.no

Home sharing economy platforms give users an alternative to traditional hotel accommodation by allowing them to connect with people who are willing to share their homes short-term for a fee. Due to the coronavirus (COVID-19) pandemic in the United States, the number of home sharing economy users dropped in 2020 to **** million users, as normal travel was not possible. However, according to the source, the number of home sharing economy users was projected to increase, reaching **** million users by 2023.

Locations, trips, and travel times for the simulation of an integrated item-sharing and crowdshipping platform in Atlanta, Georgia, US. Further information is provided in Description_of_files.html.

ABSTRACT This article addresses the issue of reducing food waste by way of digital sharing economy platforms, which promote sharing by donating, selling and exchanging surplus food among institutions, commercial establishments and end consumers, thus boosting accessibility and improving food security. In order to succeed, these platforms need to be accepted by the market, but little is known about the acceptance and use factors of these platforms. Therefore, the study presented in this article identifies the factors that influence the acceptance and use of such platforms. The Extended Unified Theory of Acceptance and Use of Technology (UTAUT2) was used as a theoretical basis for developing an embedded case study on the Ecofood platform. In addition to secondary data collection, interviews and direct observations were carried out in two cities in Southern Brazil. Effort expectancy was identified as the key factor for use behavior, and two new factors (trust and gratefulness) were identified as factors that influence intention behavior and use of the platform. Three propositions were developed to summarize the findings and guide future research.

Dataset

This dataset was created by Adedayo

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