Sharing Economy is a model in which instead of buying goods or services, people rent them or exchange them with each other. We tell in more detail how it works and changes the lives of individuals and entire states.
In the classic version, car-sharing is owning a car with another person or people. In the more common model, car-sharing is the rental of a car from specialized companies or individuals (for any period and distance of the trip – by arrangement). If in 2015 car-sharing accounted for only about 4% of the total distance traveled by cars around the world, then by 2030, “joint trips” will account for 26% of this distance.
Another way to share a car is to platform search services for passengers. For example, the world’s largest aggregator BlaBlaCar has more than 70 million users. A similar platform solution provided by Uber and alternative services (Lyft72) allows forwarding a customer’s request for a taxi service to private drivers who have installed the application. For reference: Uber operates in more than 250 cities around the world, and as of February 2015, the company was valued at $ 41 billion, which exceeds the market capitalization of companies such as American Airlines, Delta Air Lines, and United Continental.
A well-known example is the Airbnb platform. The number of Airbnb guests per night is 425 thousand, which is 155 million visitors per year, which is more than 20% 60 higher than Hilton Worldwide served in 2014. Airbnb’s valuation is already higher than the capitalization of the Hilton hotel chain.
The fashion for renting workspace for a limited time has appeared among freelancers and startups. Later, companies began to abandon traditional offices and rent coworking. It is usually cheaper because the rent is completely ready for jobs, not square meters. Today, this option is very effective for design work.
How does this affect the state?
On the part of the Sharing Economy, there is a great challenge for the state: to use soft force or to impose strict control. For example, in Berlin and Barcelona, city officials have banned short-term rental housing, with governments trying to recoup some of the revenue from tourism that began to go past the box office with the advent of Airbnb and HomeAway. And in France and other countries, taxi drivers are striking against Uber, which they believe is destroying markets with low prices.
In China, for example, the economy of shared consumption is supported by the welfare state, so the country has developed services for renting a variety of things: bicycles, umbrellas, washing machines, and dryers, balls. There were even cases of renting individual sleeping places.
How does this affect the business?
The sharing economy is changing classic business models. For example, Alibaba does not trade, Uber does not own any cars, Amazon does not have physical stores. Instead of hiring staff, experts are involved in specific projects.
How does this affect the economy?
The global co-consumption market, according to PwC, by 2025 may grow more than 20 times – up to 335 billion dollars. In Europe in the next ten years of waiting the segment grows by 35% annually, and China is forecasting the growth of sharing services to 10% of GDP in 2020.