Sharing Economy Revenues To Treble By 2020, Other Markets Set For Disruption
The sharing economy is in for steep growth in the coming years, with revenue to treble by 2020, according to Juniper Research.
Juniper’s latest research has found that sharing economy platforms, such as Uber, Airbnb and TaskRabbit, will see a trebling of revenues from US$6.4 billion last year to US$20.4 billion by 2020.
The expansion of sharing services into emerging markets, along with growth in more established regions, is set to drive a surge in returns for investors, according to the research.
In addition to industries already impacted, Juniper states “other core markets will see significant disruption over the next few years”.
“For example, providers of shared personal services, such as TaskRabbit, Airtasker and the Japanese platform Anytimes, will see their time-saving solutions prove popular with consumers striving to maintain a healthy ‘work-life balance’,” Juniper states.
Juniper expects that over the coming 10 years “a number of smaller and emerging shared economy industries are primed for significant growth”, in particular the shared delivery and manufacturing sectors, noting that large tech industry and shared economy players have branched out into these sectors.
“GM already operates its FirstBuild platform, utilising the concept of collaborative innovation, with a number of projects already completed and shipped to consumers,” research author Lauren Foye commented.
“Other providers, such as TechShop, enable access to technologically advanced workshops, reducing the production times for prototypes and concepts, whilst aiding in the scaling-up of production projects designed by young start-up businesses.”
Juniper additionally notes that Uber has launched its UberRUSH local delivery service, along with UberEATS, utilising freelance drivers to deliver food, disrupting the logistics sector.