The Sharing Economy Means Big Cash Ahead

By

It might seem like a misnomer, as the “sharing economy” has previously been thought to mean “getting stuff for free”. A new report from Juniper Research should dispel that notion, as it's projecting that, by 2020, the sharing economy's revenues are set to triple current levels and hit fully $20 billion annually.

With the “sharing economy” going well beyond music, movie and book sharing to include things like ride sharing, house sharing, and even job sharing, services like Uber, Airbnb and TaskRabbit are poised for some big gains, according to the Juniper Research report. With sharing services poised to move into emerging markets, along with somewhat slower growth in the more established markets, this combination should drive some exciting returns for investors.

It's not just the currently-established sharing services that will make gains, though these will likely see some as well, particularly the comparatively recent personal services sharing sites like TaskRabbit. These solutions are likely to be popular thanks to their ability to take some simple chores off people's plates, and give them back some of that time in a day. Completely new sharing services are expected to crop up in fields like delivery and manufacturing.

GM has already been seen using what's called the FirstBuild platform, which uses “collaborative innovation” to build projects, some of which have already been put in consumer markets. Meanwhile, services like TechShop are starting to open up, giving new businesses access to manufacturing systems on a kind of time-sharing basis, which helps keep costs down despite a clear need to produce items. Throw in changes to currently-existing sharing platforms, like Uber's UberEATS system of food delivery, and that's going to spur further development.

The sharing economy has come a long way in a comparatively little amount of time. The notion that everything could be shared does sort of open up some opportunities, though it also has some less worthwhile issues involved.

While we all like the thought of being able to get access to a manufacturing operation to build our small-scale product launches, is it such a good thing to not own these things ourselves? Have we effectively traded the entrepreneurial spirit for something that's done only on a time-sharing basis? Admittedly, these are more philosophical than operational issues, and there's nothing stopping people from owning factories later on. In the short term being able to basically rent a factory for a while can be a great way to determine if a product line is viable before getting a massive loan and building an entire operation.

There are some issues with the sharing concept overall, but it's got plenty of benefit on its side. That is likely going to fuel further expansion as time goes on.




Edited by Stefania Viscusi
Get stories like this delivered straight to your inbox. [Free eNews Subscription]

Contributing Writer

SHARE THIS ARTICLE
Related Articles

Choosing the right dedicated server: A crucial guide for website hosting

By: Contributing Writer    9/5/2024

Deciding how to host your website can be daunting, especially when considering a dedicated server. This type of hosting solution offers many benefits,…

Read More

How Web Application Firewalls Protect Against Common Threats

By: Contributing Writer    8/29/2024

Despite organizations' best efforts, cyberthreats are more prevalent than ever. The most common threats are becoming more dangerous for your data and …

Read More

Paying Attention to the User Experience: Nureva's New App Simplifies Workspace Audio Management

By: Alex Passett    8/27/2024

After launching its Nureva App in beta earlier this summer, Nureva has announced that this companion app is now fully available to HDL310 and HDL410 a…

Read More

Emerging AI Trends Set to Revolutionize Crypto Trading

By: Contributing Writer    8/26/2024

Anyone who wants to achieve success in crypto trading is well-aware that they need to keep up with the trends. The digital currency market moves fast …

Read More

The technology behind online video poker: welcome to the future

By: Contributing Writer    8/12/2024

Long gone are the days when the most we could do with our cell phones was call and play Snake (If you were born before 2000, you probably remember thi…

Read More