New data from Juniper Research has found that sharing economy platform providers are likely to reap the benefits from an explosion in service uptake by the end of the decade.
Juniper’s latest research on Sharing Economy: Opportunities, Impacts, and Disruptors 2016-2020, found that sharing economy platforms, such as Uber, Airbnb and TaskRabbit, are to witness a trebling of revenues from $6.4 billion in 2015, to $20.4 billion by 2020. The research found that the expansion of sharing services into emerging markets, coupled with growth in what are deemed more established regions, will drive a surge in returns for investors.
Traditional Industries Set for Disruption
Whilst a number of industries have already been impacted by the sharing economy, 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’.
Delivery & Manufacturing Next
Juniper 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. As such we have already witnessed large players in both the technology industry, and the shared economy itself, branch into these emerging sectors.
Shared Manufacturing is one such emerging industry backed by major players, with significant scope for growth and development.
Research author Lauren Foye explains: ‘GM already operates its FirstBuild platform, utilising the concept of collaborative innovation, with a number of projects already completed and shipped to consumers. 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.’>
Additionally, Uber has already launched its UberRUSH local delivery service, as well as UberEATS, which utilises 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.
The Sharing Economy whitepaper, Uber Disruptive, is available to download from the Juniper website together with further details of the new research.
Juniper Research provides research and analytical services to the global hi-tech communications sector, providing consultancy, analyst reports and industry commentary.