Entrepreneurs looking for new avenues or new ventures, take note: The sharing economy remains quite a profitable place to start, to pivot toward, and to exploit.
That’s according to a study just out from global research firm Juniper.
The sharing economy continues to grow more powerful with revenues forecast to double in five years to more than $40 billion. And new targets for disruption are emerging.
First, a big emerging target is the offering of shared office space.
Juniper sees it “as the next high-growth sector in the sharing economy.”
Notes research author Lauren Foye explained: “The sharing of corporate space via platforms such as WeWork and PivotDesk is the next growth area of the sharing economy, with entire floors of office blocks kitted out and primed for office sharing.”
Juniper notes Softbank’s $3 billion investment earlier this year in WeWork as a big movement in the space with investors “anticipating sustained growth in the flexible rental of high-spec, modern office properties.”
Juniper forecasts $10 billion in revenue in this sector by 2022.
Another emerging target is sharing services.
“[T]he research found that there is increased pressure on companies such asTaskRabbit in the shared services sector, as more flexible start-ups and listing sites gain traction and, ultimately, market share,” Juniper notes.
Next, revenue growth
Pioneers such as Uber, Lyft and Airbnb are sparking growth in the so-called sharing economy with revenues predicted to hit $40.2 billion in 2022, Juniper says. This year, revenues are expected to total $18.6 billion.
Details are in the report “Sharing Economy: Opportunities, Impacts & Disruptors 2017-2022.”
“[S]ome of the biggest names in the sharing economy including Uber and Lyft, have seen much greater returns from driver operations than expected,” Juniper says.. The revenue share of “these platforms is now around 30% per journey, as providers capitalise on an established driver network.”
Meanwhile, Airbnb listings have surged by a third in less than two years to close to 3 million.
Report focal points
Overall in the report, Juniper takes a look at:
- Shared Transport
- Money (Crowdfunding)
- Manufacturing, Agriculture and B2B services
Read more at Juniper’s website.