Big four accounting firm PwC has predicted that the five main sectors of the so called ‘shared economy,’ including peer-to-peer (p2p) lending, could jump from a 2013 value of $15bn (11.4bn) to $335bn in 2025.
The other four sectors included in this were online staffing, p2p accommodation, car sharing, and music and video streaming.
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Of these, PwC predicted p2p lending would be the fastest growing, and the firm suggested it may grow by as much as 63%.
In contrast PwC predicted the equivalent rental sectors, such as equipment rental, would grow from $240bn in 2013 to $335bn in 2025. Of the traditional sectors, equipment rental was predicted to grow the fastest at 5%.
As such, the firm described the new sharing industries as ‘disruptive’ to the more mature industries.
The firm said "For the sharing economy companies to realise their potential, they will need to overcome significant barriers. We think that two hurdles stand out: first, major regulatory and fiscal issues need to be resolved; and second, in scaling up, sharing companies face challenges in maintaining their uniqueness and authenticity."
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By GlobalDataDue to the lack of long term historic data, PwC noted a number of assumptions were made to make these predictions, and the firm admitted these are therefore subject to considerable uncertainties.
