Global Shared Economy Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Shared Economy Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Shared economy is a social operation mode that shares manpower and resources. It includes the creation, production, distribution, transaction and consumption sharing of goods and services by different individuals and organizations. Common forms include Mobility Sharing, Person-to-person (P2P) Finance, Vacation Rental and Room Sharing, Coworking, Online Talent Platforms, etc.

Market Overview:

The latest research study on the global Shared Economy market finds that the global Shared Economy market reached a value of USD 268426.46 million in 2022. It’s expected that the market will achieve USD 945782.86 million by 2028, exhibiting a CAGR of 23.36% during the forecast period.

Influence of COVID-19 Outbreak on Shared Economy Industry Development

During the outbreak of the epidemic, people had to turn to online procurement and consumption due to the extreme tension of offline supply, resulting in a great increase in demand for online services. With the rapid increase in service demand, the number of users of online platforms has also increased greatly, especially the residents of third-and fourth-tier cities with low online service utilization rates, and middle-aged and elderly people have turned to online consumption, or become new users, or rely more on online consumption. With the continuous advancement of anti-epidemic, people's dependence on the Internet has been further strengthened, and online behavior habits have been continuously strengthened. These factors will promote the development of the shared economy industry.

Drivers

With the development of economy, Indian young people are more willing to change their residence cities for job opportunities, and more and more people have moved to serviced apartment, which also stimulates the development of furniture-sharing business. The lifestyle and consumption concepts of young people in India are changing. In the fields of furniture, household appliances, and mobile phones, consumers are gradually changing from owning to renting, and shared economy has become a trend. Therefore, the sharing platform hopes to gain more market share and profits by expanding categories. All these factors will stimulate the demand for the shared economy industry in India, thus promoting the development of the shared economy industry in India. According to research data, the value market share in India in 2019 was 6.32%, it is predicted that India's market share will increase in 2025, and it is a potential market for the shared economy industry.

Limitations

Enterprises that provide rental services are usually regulated by federal, state or local authorities. Platforms that provide the shared economy may not comply with these regulations or pay related fees. The platform of shared economy is not regulated by the government so that they can directly obtain greater profits. Lack of government supervision will lead to serious abuse of buyers and sellers in the shared economy. This has been highlighted in many well-known cases, such as hiding the camera in the rented room, using the platform of the employment platform to sue the unreasonable treatment of the ride-sharing contractor, even the real or fraudulent lease, and the murder of customers by the ride-sharing provider. Therefore, the lack of government supervision in various forms of the shared economy limits the development of the shared economy industry.

Opportunities

Under the traditional business model, people mainly passively accept the commodity information provided by merchants. However, the sharing economic model based on the network platform enables both supply and demand sides to publish the shared goods or demand goods they can supply through the Internet, which increases the trading objects that specific suppliers or demanders can choose, and has the possibility of mastering more information of trading objects. This avoids fraudulent unfair transactions and transaction costs, fundamentally improves the trading quality, and is conducive to promoting the increase of both parties' welfare. The core of the shared economy is to transfer the owner's idle resources to other members of society for use repeatedly by changing hands frequently. This sharing mode formed by networking in series can make use of wasted assets, improve the use efficiency of existing goods, make efficient use of resources, and realize the promotion of individual welfare and the sustainable development of the whole society. These factors reflect the change in people's consumption concept and the pursuit of sustainable development. The change in people's consumption concept urges people to choose the mode of shared economy, thus promoting the development of shared economy industry.

Region Overview:

From 2022-2027, North America is estimated to witness robust growth prospects.

Company Overview:

Uber is one of the major players operating in the Shared Economy market, holding a share of 7.41% in 2020.

Uber is headquartered in California, San Francisco, founded in 2009. In addition to providing riders with a way to get from point A to point B, Uber is also committed to bringing the future closer through autonomous driving technology and urban air transportation, helping people order food quickly and economically, eliminating obstacles to medical care and creating a new environment.

Airbnb, founded in August 2008 and headquartered in San Francisco, California, is one of the largest platforms for accommodation and leisure places in the world. Airbnb focuses on tourism, accommodation and cooperative economy.

Segmentation Overview:

Among different product types, Mobility sharing segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the App-based segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Shared Economy market covered in Chapter 3:

Uber
Getaround
TaskRabbits
Airbnb
Funding Circle
WeWork
Lendingclub
Rover
Zocdoc
International Workplace Group
Coursera
DiDi
Esty
Lyft
Mobike
Youon Technology Co.,Ltd
BlaBlaCar
Ola
GrabTaxi

In Chapter 4 and Chapter 14.2, on the basis of types, the Shared Economy market from 2018 to 2029 is primarily split into:

Mobility Sharing
Person-to-person (P2P) Finance
Vacation Rental and Room Sharing
Coworking
Online Talent Platforms
Healthcare Sharing
P2P Consumer Goods Rentals

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Shared Economy market from 2018 to 2029 covers:

App-based
Store-based

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)