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Global sharing economy revenue to triple by 2020, report says

May 24, 2016

Sharing economy platform providers, such as Uber, Airbnb and TaskRabbit, will see revenue triple to $20.4 billion by 2020 from $6.4 billion in 2015, according to Juniper Research’s report, “Sharing Economy: Opportunities, Impacts, and Disruptors 2016-2020.”

While a number of industries have already been affected by the sharing economy, other core markets will see significant disruption over the next few years, according to Juniper. 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 also believes that a number of smaller and emerging shared economy industries are primed for significant growth over the coming 10 years, namely the shared delivery and manufacturing sectors, and reports it has already witnessed large players in both the technology industry, and the shared economy itself, branching into these emerging sectors.

Shared manufacturing is one such emerging industry backed by major players, with significant scope for growth and development, according to Juniper.

“GM already operates its FirstBuild platform, utilizing the concept of collaborative innovation, with a number of projects already completed and shipped to consumers,” said research author Lauren Foye. “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.”

The report also cites Uber’s launch of its UberRUSH local delivery service, as well as UberEATS, which utilizes freelance drivers to deliver food, disrupting the logistics sector. UberEATS recently launched in Melbourne, Australia, bringing the total number of cities in which it is available across the globe to 13, with plans to continue expansion throughout 2016.