The sharing economy is a technology-enabled socio-economic model where individuals and businesses share access to underutilized assets such as vehicles, living spaces, tools, skills, or services typically coordinated through intermediary digital platforms. Users leverage these platforms to borrow, rent, or subscribe to assets without the need for permanent ownership, transforming traditional goods into on-demand, time-bound services. This system relies on trust mechanisms such as ratings, identity verification and insurance managed by platforms to ensure smooth transactions between providers and consumers.
The global sharing economy market was valued at $195,788.13 million in 2019 which grew till 2024 at a compound annual growth rate (CAGR) of more than 13.00%.
Rising Smartphone Penetration And Internet Access
Rising smartphone penetration and internet access fueled the growth of the sharing economy in the historic period. Rising smartphone penetration and widespread internet access made it easier for people to connect and transact through digital platforms. Sharing economy services like ride-hailing, home-sharing and peer-to-peer rentals relied on real-time apps, GPS (Global Positioning System), mobile payments and user reviews all enabled by smartphones. This connectivity allowed individuals to access and offer shared services anytime, anywhere, making the sharing economy more accessible, scalable and efficient. For instance, in October 2024, according to The State of Mobile Internet Connectivity 2024 published by the GSM Association, a UK-based non-profit mobile ecosystem organization, approximately 160 million people began using mobile internet in 2023, a growth similar to 2022, bringing smartphone internet users to nearly 4.3 billion, or 53% of the global population. The number of fourth generation (4G) and fifth generation (5G) users rose by 330 million between 2022 and 2023, now representing almost 80% of mobile internet subscribers worldwide. Also, in 2024, according to the Mobility Report of Ericsson, a Sweden-based telecommunications company, global smartphone subscriptions reached 7.16 billion in 2024, increased slightly compared to 6.93 billion in 2023. Therefore, the rising smartphone penetration and internet access fueled the growth of the sharing economy market.
Complementary products include traditional rental services, ownership models (buying a car, home, or tool) and subscription models (car leasing, coworking memberships). Substitute goods might be outright purchases, hotels, taxis, full-course college, or hiring full-time staff. Usage typically begins with a digital interaction booking through an app or website followed by delivery or access and ends with payment and optional peer reviews. Transactions are often short-term, demand-driven and supported by rating systems for trust.
The global sharing economy market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 18.24% of the total market in 2024.
Sharing Economy Global Market Opportunities And Strategies To 2034 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global sharing economy market as it emerges from the COVID-19 shut down.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Where is the largest and fastest-growing market for sharing economy? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The sharing economy market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider sharing economy market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by product, by distribution channel and by end user.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Growth Analysis And Strategic Analysis Framework- Analysis on PESTEL, end use industries, market growth rate, global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods, forecast growth contributors and total addressable market (TAM).
- Global Market Size And Growth- Global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2019-2024) (2024-2029, 2034F) and analysis for each segment by product, by distribution channel and by end user in the market. Historic (2019-2024) and forecast (2024-2029) and (2029-2034) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2024), historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies- Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for sharing economy providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 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
- Companies Mentioned: Uber Technologies Inc.; Booking Holdings; Airbnb Inc.; Lyft Inc.; Grab Holding Ltd.
- Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; France; Germany; UK; Italy; Spain; Brazil; Russia
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; sharing economy indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.