This statistic presents the distribution of transaction volumes in the collaborative economy in the United Kingdom by platform sector in 2015. Peer-to-peer accommodation platforms accounted for a 37 percent share of transaction volumes within the UK sharing economy.

This statistic presents the total value of transactions in the collaborative economy in the United Kingdom from 2013 to 2015. Platforms within the collaborative economy (otherwise known as the sharing economy) generated total transactions worth 7.4 billion British pounds in 2015. Collaborative economy platforms break down into various sectors including P2P transportation, P2P accommodation, on-demand household services, collaborative finance and on-demand professional services. Some well-known companies in the sharing economy are the accommodation platform Airbnb and car sharing service Zipcar.

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Sharing Economy Market Size 2025-2029

The sharing economy market size is forecast to increase by USD 1,118.8 billion at a CAGR of 32.3% between 2024 and 2029.

The market is experiencing significant growth, driven by the increasing use of online ride-hailing services and the growing adoption of blockchain technology. The convenience and affordability of ride-hailing apps have led to an increase in demand, particularly in the transportation sector. Furthermore, the implementation of blockchain technology in the sharing economy is revolutionizing transactions by ensuring data security and transparency. However, regulatory challenges continue to pose a significant hurdle to market growth.
Governments worldwide are grappling with issues related to consumer protection, data privacy, and safety regulations, which need to be addressed to ensure the sustainable growth of the market. Overall, these trends and challenges present both opportunities and risks for market participants, requiring a strategic approach to capitalize on emerging opportunities while mitigating potential risks.

What will be the Sharing Economy Market Size During the Forecast Period?

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The peer economy, a subset of the sharing economy, is revolutionizing the way goods and services are exchanged in capitalism. This economic model allows individuals to rent or share their assets through digital platforms, facilitating peer-to-peer transactions. The online markets created by community-based platforms enable the exchange of various offerings, including transportation services like ride-sharing, hospitality services such as home-sharing, and even the rental of co-working facilities, freelancing platforms, and peer-to-peer financing channels. The sharing economy promotes circularity by reducing the need for new production and consumption. It encourages the efficient use of resources, aligning with environment-friendly practices. The digital nature of these platforms allows for the seamless exchange of information and knowledge, further enhancing their value proposition.
Moreover, ride-sharing services and home-sharing platforms are prime examples of this new economic paradigm. They offer flexible, affordable, and sustainable services that cater to the evolving needs of consumers. The use of mobile apps simplifies the transaction process, making it convenient for users to access these services on the go. The peer economy is transforming various sectors, including transportation, hospitality, and finance, by promoting a more collaborative and community-driven approach. It offers a unique opportunity for individuals to monetize their assets and services while contributing to a more sustainable and circular economy. This economic model is here to stay, and its impact on capitalism is only set to grow.

How is this market segmented and which is the largest segment?

The market 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

  APAC

    China
    Japan
    South Korea


  Europe

    Germany
    UK
    France


  North America

    Canada
    US


  South America

    Brazil


  Middle East and Africa

    South Africa

By Type Insights

The sharing accommodation segment is estimated to witness significant growth during the forecast period. The market encompasses various sectors, including co-working facilities, freelancing platforms, short-term lodging services, and commuter habits. In the accommodation segment, individuals share or rent their living spaces through online platforms, offering cost-effective and flexible alternatives to traditional lodging. This trend is popular among budget-conscious consumers, students, and those requiring short-term stays. Key companies, such as Silvernest, Inc., facilitate shared living arrangements by connecting homeowners with compatible tenants. Silvernest's platform prioritizes the social and financial benefits of shared living, particularly for older adults. This market trend is driven by affordability and the financial burden on individuals, making it an attractive option for many.

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The sharing accommodation segment was valued at USD 79.80 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

Europe is estimated to contribute 33% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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This statistic presents the annual revenue of collaborative economy platforms in the United Kingdom from 2013 to 2015. Platforms within the collaborative economy (otherwise known as the sharing economy) generated a total of 850 million British pounds in 2015. Collaborative economy platforms break down into various sectors including P2P transportation, P2P accommodation, on-demand household services, collaborative finance and on-demand professional services. Some well-known companies in the sharing economy are the accommodation platform Airbnb and car sharing service Zipcar.

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.

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 794 billion U.S. dollars by 2031, up from 150 billion U.S. dollars in 2023. This has translated to a compound annual growth rate (CAGR) of approximately 32 percent.

The sharing economy

The 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.

Regulation

The 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.

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.

The giants of the sharing economy have succeeded by facilitating access to assets that would otherwise be too expensive or unattainable, such as cars or vacation rentals. This reasoning does not apply to the consumer goods industry, in which products are easily accessible and comparatively affordable. The sharing economy has permeated consumer goods by maximizing convenience, promoting sustainability, and fostering a sense of community. Currently, the consumer goods industry is primarily advancing the sharing concept through peer-to-peer delivery services as well as food sharing platforms. Read More

The statistic gives the projected revenue distribution of sharing services providers in 2022, by region. In 2022, Europe will account for 19.2 percent of the total revenue in the sharing economy. The sharing economy is predicted to be worth 40.2 billion U.S. dollars that year.

The sharing economy has particularly taken off in home-sharing and shared mobility models, shaking up the way the insurance industry has traditionally understood liabilities. Insurers have been pressurized to quickly adapt their products, converging the cover provided in personal and commercial lines. In a bid to keep up with the speed of transactions and minimize customer friction insurers are partnering with marketplaces and startups. The sharing economy has resulted in an upsurge of flexible insurance products. But gaps in coverage still exist, while the sharing economy continues to grow strongly. Read More

This statistic presents a revenue breakdown of collaborative economy platforms by sector in the United Kingdom in 2015. Peer-to-peer transportation platforms generated the greatest share of revenue at 38 percent, following by peer-to-peer accommodation and on-demand household services.

Web-based data room for the Shared Services procurement competition. Data collectgion ceased.

The Digital Economy Act 2017 register of information sharing agreements link contains a:

• list of information sharing agreements

• list of information sharing powers and objectives available under chapters 1, 2, 3 and 4 of Part 5 of the Digital Economy Act 2017

• list of specified persons (controllers and processors) for the information sharing agreements under the public service delivery, debt, fraud and civil registration provisions within the Digital Economy Act 2017, explaining which information sharing powers or objectives each specified person can disclose and receive information

This statistic provides figures for the estimated contribution of Airbnb hosts and guests to the economy in the United Kingdom (UK) between July 2017 and July 2018. Overall Airbnb contributed an estimated 3.5 billion British pounds to the UK economy, 854 million pounds worth of which was through income earned by local hosts.

The number of guest nights, nights, and stays by country of origin of international guests for short-term lets offered through online collaborative economy platforms (Airbnb, Booking.com and Expedia Group).

According to Statista estimates, the market for shared luxury watches in the United Kingdom (UK) constituted approximately 5.46 percent of the traditional luxury watches market in 2020. The share of this market over traditional market is forecast to increase overall in the next five years, reaching to about 7.22 percent in 2025.

According to Statista estimates, the market for shared luxury jewelry in the United Kingdom (UK) made up approximately just over two percent of the luxury jewelry market in 2020. The share of this market over traditional market is forecast to increase overall in the next five years, reaching to about 2.67 percent in 2025.

The market for shared luxury watches in the United Kingdom (UK) generated an estimated revenue of approximately 33.54 million U.S. dollars in 2020. Revenue of this market is forecast to increase continuously in the next five years, reaching to about 57.47 million U.S. dollars in 2025.