Sharing Economy To Reach Over $40 Bn By 2022: Study

by CXOtoday News Desk    Jul 25, 2017

sharing

The sharing economy is set to see substantial growth, as players in more established sectors, such as transport and space, press their first mover advantage. This is according to a new research by Juniper Networks titled ‘Sharing Economy: Opportunities, Impacts & Disruptors 2017-2022,’ which forecasts that the sharing economy will reach $40.2 billion in 2022, in terms of platform provider revenues, up from $18.6 billion in 2017.

Market Leaders Capitalize  

Since Juniper’s previous research, some of the biggest names in the sharing economy including Uber and Lyft, have seen much greater returns from driver operations than expected. The research noted that the proportion taken by these platforms is now around 30percent per journey, as providers capitalize on an established driver network.

In addition, uptake of many leading sharing services has increased considerably, with listings on shared space provider Airbnb growing from two million at the end of 2015, to three million this year.

Juniper believes that space and transport sectors will continue to dominate the sharing industry. However, the research found that there is increased pressure on companies such as ‘TaskRabbit’ in the shared services sector, as more flexible start-ups and listing sites gain traction and, ultimately, market share.

Investors Target Corporate Space  

The research identified corporate space as the next high-growth sector in the sharing economy; an area which has developed rapidly and somewhat under the radar.

Research author Lauren Foye explained, ”The sharing of corporate space via platforms such as WeWork and PivotDesk is the next growth area of the sharing economy, with entire floors of office blocks kitted out and primed for office sharing.”