ShareXSharing Economy: More Than You Imagine
Understanding the sharing economy landscape and its global growth potential
In traditional business models, resolving the supply-demand relationship primarily relied on continuously improving productivity. However, following the Third Industrial Revolution—especially in the past two to three decades—this approach has gradually lost effectiveness. The primary issue people face today is no longer a lack of production capacity but rather the unequal distribution of resources. The sharing economy addresses this challenge by maximizing the balance of surplus capacity, creating new opportunities for value generation.
Rachel Botsman and Roo Rogers, considered pioneers of the sharing economy, define it in their seminal work What's Mine Is Yours: How Collaborative Consumption is Changing the Way We Live. They describe the sharing economy as a new socio-economic ecosystem based on shared access, enabling the temporary use of products and services rather than traditional ownership through buying and selling.
For consumers, the core value of the sharing economy lies in the concept of "access over ownership." By efficiently sharing limited resources, it meets the needs of more people, redefining consumption patterns. Botsman and Rogers regard the sharing economy as a transformative force for how we work and live, highlighting its potential to address resource distribution challenges through increased efficiency.
The scope of the sharing economy goes far beyond what most people imagine. From shared power banks, accommodations, and bicycles to co-working spaces, vending machines, lockers, and even shared agriculture and healthcare, it has become a reality. Some of the typical forms of sharing economy include:
- Mobility Solutions: Shared bicycles, scooters, and electric motorcycles
- Life Rental Equipment: Shared power banks, umbrellas, and WiFi hotspots
- Retail Devices: Juice machines, popcorn machines, coffee makers, and other automated vending equipment
- Service Devices: Storage lockers, car wash stations, and charging piles
- Leisure and Entertainment Equipment: Claw machines, shared karaoke booths, and fitness equipment
We believe the sharing economy now encompasses unmanned retail formats and has evolved into essential infrastructure for modern, convenient services.
The global sharing economy is currently in a period of rapid growth. According to Verified Market Research, the global market value of the sharing economy in 2024 is estimated at $387.1 billion and is projected to reach $827.1 billion by 2031, with a compound annual growth rate (CAGR) of 7.7% from 2024 to 2031. While different market research reports vary in their definitions and metrics, there is a consensus that the sharing economy will experience accelerated global growth.
Take the shared power bank industry as an example. In its earliest and most widely adopted market, China, the industry has reached over 450 million users after eight years of development. In 2024 alone, the market is estimated to deploy over 2 million new shared power bank stations, reflecting a conservative growth rate of over 25%. Globally, the shared power bank sector is expanding at a staggering growth rate exceeding 100%.
The financial model of sharing economy verticals has proven to be robust, yet many of these markets remain in their infancy on the global stage, presenting enormous potential for growth. As the world recovers from the pandemic and infrastructure continues to improve, the sharing economy is expected to achieve a CAGR of over 20% in the coming years, becoming a critical driver of global economic development.