How has the sharing economy market evolved, and where is it heading next?
The sharing economy market size has grown exponentially in recent years. It will grow from $194.14 billion in 2024 to $246.18 billion in 2025 at a compound annual growth rate (CAGR) of 26.8%. The growth in the historic period can be attributed to economic recession or downturns, regulatory changes, shift in consumer behavior, environmental awareness, and urbanization.
The sharing economy market size is expected to see exponential growth in the next few years. It will grow to $631.32 billion in 2029 at a compound annual growth rate (CAGR) of 26.5%. The growth in the forecast period can be attributed to aging population, globalization, social trends, emerging markets, and climate change impacts. Major trends in the forecast period include sustainability emphasis, niche market growth, blockchain integration, rural expansion, and flexible pricing.
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What are the key drivers behind the rapid expansion of the sharing economy market?
The increasing adoption of electric vehicles is expected to propel the growth of sharing economy market going forward. Electric vehicles (EVs) are vehicles that are powered entirely or partially by electricity. Rising adoption of electric vehicles can be attributed to factors such as increasing environmental awareness, advancements in battery technology, government incentives and subsidies, growing availability of charging infrastructure, lower operating and maintenance costs. Electric vehicles are used in the sharing economy by serving as eco-friendly options for ride-sharing and car-sharing services, providing users with accessible, sustainable, and cost-effective transportation solutions. For instance, In 2024, according to the International Energy Agency (IEA), a France-based intergovernmental organization, electric car sales in 2023 increased by 3.5 million compared to 2022, marking a 35% rise year-on-year. Therefore, the increasing adoption of electric vehicles is driving the growth of sharing economy market.
What is the segmentation for the sharing economy market?
The sharing economy market covered in this report is segmented –
1) By Product: Shared Transportation, Shared Space, Sharing Financial, Sharing Food, Shared Health Care, Shared Knowledge Education, Shared Task Service, Shared Items, Other Products
2) By Distribution Channel: Online, Offline
3) By End User: Generation Z, Millennials, Generation X, Boomers
Subsegments:
1) By Shared Transportation: Ride-Hailing Services (Uber, Lyft), Carpooling And Car Sharing (Zipcar, Blablacar), Bike And Scooter Sharing (Lime, Bird), Electric Vehicle (Ev) Sharing, Peer-To-Peer Car Rentals (Turo)
2) By Shared Space: Coworking Spaces (Wework, Regus), Co-Living Spaces, Vacation Rentals (Airbnb, Vrbo), Shared Meeting And Conference Rooms, Storage Space Sharing (Neighbor.com)
3) By Sharing Financial: Peer-To-Peer Lending (Lendingclub, Prosper), Crowdfunding Platforms (Kickstarter, Gofundme), Peer-To-Peer Insurance, Shared Investment Platforms, Micro-Investing Platforms
4) By Sharing Food: Meal Kit Delivery Services (Blue Apron, Hellofresh), Community-Supported Agriculture (Csa), Home-Cooked Meal Sharing (Meal Sharing Platforms), Food Delivery Services (Ubereats, Doordash), Leftover Sharing And Food Waste Reduction Programs
5) By Shared Health Care: Telemedicine Services, Shared Health Resources (Peer-To-Peer Health Support), Health And Wellness Apps (Fitness Trackers, Meditation Apps), Peer-To-Peer Medical Support Networks, Shared Medical Equipment And Facilities
6) By Shared Knowledge Education: Online Learning Platforms (Coursera, Udemy), Peer-To-Peer Learning Networks (Skillshare, Tutor.com), Open Educational Resources (Khan Academy), Knowledge Sharing Communities (Stackoverflow, Github), Collaborative Research Platforms
7) By Shared Task Service: Gig Economy Platforms (Taskrabbit, Upwork), On-Demand Services (Home Cleaning, Repair Services), Freelance And Remote Work Services, Personal Task Assistance (Grocery Shopping, Errands), Digital Services (Graphic Design, Writing)
8) By Shared Items: Product Rental Platforms (Rent The Runway, Turo), Tool And Equipment Sharing (Sharegrid, Zilok), Clothing And Fashion Sharing, Baby Gear And Toy Sharing, Media And Book Sharing
9) By Other Products: Shared Art And Cultural Experiences (Art Exhibits, Live Performances), Shared Travel Resources (Ride-Sharing For Travel), Shared Sports And Fitness Equipment, Shared Entertainment (Streaming Accounts, Concert Tickets), Shared Resources For Special Events (Wedding Services, Event Decor)
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Who are the most influential companies in the sharing economy market?
Major companies operating in the sharing economy market are Uber Technologies Inc, Didi Global, JLL, Booking Holdings Inc, Avis Budget Group, eBay Inc, Airbnb Inc, Snap, Accor SA, Lyft Inc, Lime, Fiverr International Ltd, Prosper, BlaBlaCar, Zipcar, Fon, JustPark, Spotahome, Couchsurfing, Eatwith, HubbleHQ, E-stronger, VaShare, Stashbee Limited, Steam
What are the most influential trends expected to drive the sharing economy market forward?
Major companies operating in the sharing economy market are developing innovative features to enhance user experience, increase efficiency, and promote sustainability. Innovative features of Group Rides, such as dynamic pricing based on demand, real-time tracking, and flexible route planning, enhance the efficiency and convenience of shared transportation, encouraging more people to participate in the sharing economy and reducing overall transportation costs and environmental impact. For instance, in August 2023, Uber Technologies Inc., a US-based transport company, launched a new feature called Group Rides in India, allowing riders to share their trips with up to three friends headed to the same destination. This innovative solution aims to reduce cars on the road, offering riders significant fare savings by splitting costs with their companions. With the ability to add friends to the ride through messaging apps and customize pickup locations, Group Rides not only promote affordability and convenience but also contribute to decongesting roads by encouraging shared transportation. This initiative aligns with Uber’s mission to create opportunities through efficient and sustainable movement, benefiting both riders and the environment.
What are the major regional insights for the sharing economy market, and which region holds the top position?
North America was the largest region in the sharing economy market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sharing economy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Sharing Economy Market Report 2025 Offer?
The sharing economy market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Sharing economy refers to a socio-economic system built around the sharing of resources. It involves individuals sharing access to goods and services, often facilitated by a digital platform that connects those who have something to share with those who need it.
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