Sharing Economy Market In 2029
Sharing Economy Market Forecast
Sharing Economy Market Share
Sharing Economy Market Growth
The Business Research Company’s Sharing Economy Global Market Report 2025 - Market Size, Trends, And Global Forecast 2025-2034
LONDON, GREATER LONDON, UNITED KINGDOM, January 7, 2026 /EINPresswire.com/ -- Sharing Economy Market to Surpass $660 billion in 2029. Within the broader Services industry, which is expected to be $23,934 billion by 2029, the Sharing Economy market is estimated to account for nearly 3% of the total market value.
Which Will Be the Biggest Region in the Sharing Economy Market in 2029
North America will be the largest region in the sharing economy market in 2029, valued at $254,317 million. The market is expected to grow from $148,208 million in 2024 at a compound annual growth rate (CAGR) of 11%. The rapid growth can be attributed to the favorable government support and consumer preference for cost-effective and flexible services.
Which Will Be The Largest Country In The Global Sharing Economy Market In 2029?
The USA will be the largest country in the sharing economy market in 2029, valued at $227,926 million. The market is expected to grow from $130,321 million in 2024 at a compound annual growth rate (CAGR) of 12%. The rapid growth can be attributed to the consumer preference for cost-effective and flexible services and peer-to-peer (P2P) platform growth.
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What will be Largest Segment in the Sharing Economy Market in 2029?
The sharing economy market is segmented by product into shared transportation, shared space, sharing financial, sharing food, shared health care, shared knowledge education, shared task service, shared items and other products. The shared transportation market will be the largest segment of the sharing economy market segmented by product, accounting for 33% or $215,945 million of the total in 2029. The shared transportation market will be supported by increasing urban congestion driving the need for flexible mobility solutions, rising fuel costs encouraging ride-sharing alternatives, growing environmental awareness promoting carpooling and micromobility, proliferation of smartphone apps enabling real-time access to vehicles, increasing availability of electric bikes and scooters, reduced vehicle ownership among younger populations, and expansion of multimodal transport networks in metropolitan areas.
The sharing economy market is segmented by distribution channel into online and offline. The online market will be the largest segment of the sharing economy market segmented by distribution channel, accounting for 96% or $634,179 million of the total in 2029. The online market will be supported by proliferation of smartphones and internet access enabling seamless digital engagement, growth of app ecosystems supporting real-time service booking and payments, enhanced user experiences through data personalization and artificial intelligence (AI), increasing consumer confidence in digital transactions, widespread use of online review systems for trust-building, scalability of online platforms for global reach and continuous innovation in platform functionalities.
The sharing economy market is segmented by end user into generation Z, millennials, generation X and boomers. The generation Z market will be the largest segment of the sharing economy market segmented by end user, accounting for 49% or $325,969 million of the total in 2029. The generation Z market will be supported by digital nativity and strong affinity for app-based services, higher environmental consciousness leading to reduced ownership, desire for flexibility and mobility in lifestyle, inclination towards cost-sharing due to limited early-career income, social media influence driving shared experiences, openness to new economic models over traditional norms and preference for community-centric brands and platforms.
What is the expected CAGR for the Sharing Economy Market leading up to 2029?
The expected CAGR for the sharing economy market leading up to 2029 is 13%.
What Will Be The Growth Driving Factors In The Global Sharing Economy Market In The Forecast Period?
The rapid growth of the global sharing economy market leading up to 2029 will be driven by the following key factors that are expected to reshape consumption, labour and asset-management models worldwide.
Rising Urbanization – The rising urbanization will become a key driver of growth in the sharing economy market by 2029. High population density in urban areas facilitates efficient matching of supply and demand for shared services. Sharing economy platforms such as ride-hailing, bike-sharing and coworking benefit from the geographic concentration of users, enabling faster scalability, higher asset utilization and improved service availability. This urban clustering supports more reliable and cost-effective operations, making cities ideal environments for platform-based business models to grow. As a result, the rising urbanization is anticipated to contributing to a 1.0% annual growth in the market.
Consumer Preference For Cost-Effective And Flexible Services - The consumer preference for cost-effective and flexible services will emerge as a major factor driving the expansion of the market by 2029. The affordability over ownership is significantly boosting demand in the sharing economy market. Many consumers now prefer access over ownership, for example, renting a car or using a co-working space rather than buying a car or leasing an office. This helps them save money and avoid long-term commitments. Consequently, the consumer preference for cost-effective and flexible services is projected to contributing to a 0.7% annual growth in the market.
Favorable Government Support - The favorable government support will serve as a key growth catalyst for the market by 2029. Favorable government support can significantly boost the sharing economy by creating a conducive regulatory environment and reducing legal uncertainties. Through subsidies, tax incentives and startup-friendly policies, governments can encourage innovation and investment in platforms like ride-sharing, home-sharing and coworking. Supportive urban planning and infrastructure development, such as smart city initiatives, also enhance the operational efficiency of sharing services. Additionally, public-private partnerships help build trust, improve standards and ensure consumer protection. Therefore, this favorable government support is projected to supporting to a 0.5% annual growth in the market.
Peer-To-Peer (P2P) Platform Growth – The peer-to-peer (P2P) platform growth will become a significant driver contributing to the growth of the market by 2029. By connecting users who possess underutilized assets or services with those seeking them these platforms optimize resource utilization. Their seamless digital interfaces enhance accessibility and convenience, accelerating user adoption and contributing significantly to market expansion. Consequently, the peer-to-peer (P2P) platform growth is projected to contributing to a 0.2% annual growth in the market.
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What Are The Key Growth Opportunities In The Sharing Economy Market in 2029?
The most significant growth opportunities are anticipated in the online collaborative sharing economy market, the z-driven sharing economy market, and the shared transport economy market. Collectively, these segments are projected to contribute over $559 billion in market value by 2029, driven by rising digital adoption, shifting consumer preference toward access-over-ownership models, and the increasing integration of mobile platforms that streamline peer-to-peer transactions. This surge reflects the accelerating expansion of technology-enabled sharing behaviours that enhance resource utilization, reduce ownership costs, and promote community-driven economic participation, fueling transformative growth within the broader sharing economy landscape.
The online collaborative sharing economy market is projected to grow by $289,748 million, the z-driven sharing economy market by $161,777 million, and the shared transport economy market by $106,989 million over the next five years from 2024 to 2029
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