The projection is that the revenue of the sharing economy will be equel to that of the traditional rental companies by 2050.
Our economy is changing from owning all of your stuff to sharing it with others. But is there a future for companies that embrace this evolvement?
Back in 2013
In 2013, the revenue for traditional rental companies (equipment, hostels and B&Bs, books, cars, DVDs) was 240 billion dollars worldwide. The revenue of the sharing economy (peer-to-peer lending, online staffing, peer-to-peer accommodation, car sharing, music and video streaming) was tremendously lower, 15 billion dollars worldwide.
Projection for 2025
The Projected Revenue development between 2013 and 2025 is:
- Peer-to-peer lending and crowdfunding: +63%
- Online staffing: +37%
- Peer-to-peer accommodation: +31%
- Car sharing: +23%
- Music and video streaming: +17%
- Equipment rental: +5%
- Hostels and B&Bs: 4%
- Book rental: +3%
- Car rental: +2%
- DVD rental: -5%
What about 2050?
The projected revenue of traditional rental companies is 335 billion dollars worldwide. Renting via sharing economy is definitely profitable for companies, because the projected revenue for this sector is also 335 billion dollars worldwide.
Source: PWC Analysis
Do you want to read more about the sharing economy?
Food Inspiration magazine
Six food service opportunities from saline agriculture24 March 2023 | 10 min
Regenerative ocean farming8 June 2022 | 9 min
The rise of true cost25 February 2022 | 12 min
Top five London trends10 March 2023 | 4 min