Sharing Economy: disrupting the modes of consumption

1st June 2016  

Sharing economy, also expressed in terms of collaborative consumption, relationship economy, access economy, peer-to-peer economy, is a new business practice among individuals and business units. At the center of it lies a conviction that access to resources should trump ownership. Hence defining it as a consumption model based on access to physical assets, rather acquisition or ownership of those same physical assets. Globally, there has been an overarching trend of tech companies succumbing to this business model, which many see as a fundamentally over-hyped phenomena or just an upgrade to internet era businesses.

According to research from PwC, revenues across the globe from sharing economy-related services will reach $335B by 2025, up from $15B today.

The key sectors that are seeing the most growth are the following:
- peer-to-peer finance
- online staffing
- peer-to-peer accommodation (today valued at $26B globally)
- car sharing (the car-sharing market is projected to include 26M users by 2020)
- music/video sharing

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