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Sharing Economy Market to Grow by USD 1.12 Trillion by 2029, Rising Online Ride-Hailing Services Boost Market, Report on How AI is Driving Transformation – Technavio

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NEW YORK, Feb. 6, 2025 /PRNewswire/ — Report with the AI impact on market trends – The global sharing economy market size is estimated to grow by USD 1.12 trillion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of  32.3%  during the forecast period. Rising use of online ride-hailing services is driving market growth, with a trend towards growing adoption of blockchain technology in sharing economy market. However, regulatory challenges associated with sharing economy apps and platforms  poses a challenge. Key market players include Accor S.A., Airbnb Inc., Avis Budget Group Inc., Avis India, Bollore SE, cambio Mobilitatsservice GmbH and Co. KG, Comuto SA, Couchsurfing International Inc, DiDi Inc., DoorDash Inc., Eatwith, Expedia Group Inc., HomeRoom Inc, Homestay Technologies Ltd., HubbleHQ, JustPark Parking Ltd, Lyft Inc., Microsoft Corp., Neutron Holdings Inc., Practo Technologies Pvt. Ltd., SPOTAHOME S.L.U, Stashbee Ltd, Uber Technologies Inc., and WeWork Inc.

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Sharing Economy Market Scope

Report Coverage

Details

Base year

2024

Historic period

2019 – 2023

Forecast period

2025-2029

Growth momentum & CAGR

Accelerate at a CAGR of 32.3%

Market growth 2025-2029

USD 1118.8 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

25.7

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

Europe at 33%

Key countries

US, China, Germany, Japan, UK, South Korea, France, Canada, Brazil, and Saudi Arabia

Key companies profiled

Accor S.A., Airbnb Inc., Avis Budget Group Inc., Avis India, Bollore SE, cambio Mobilitatsservice GmbH and Co. KG, Comuto SA, Couchsurfing International Inc, DiDi Global Inc., DoorDash Inc., Eatwith, Expedia Group Inc., HomeRoom Inc, Homestay Technologies Ltd., HubbleHQ, JustPark Parking Ltd, Lyft Inc., Microsoft Corp., Neutron Holdings Inc., Practo Technologies Pvt. Ltd., SPOTAHOME S.L.U, Stashbee Ltd, Uber Technologies Inc., and WeWork Inc

Market Driver

The Sharing Economy, also known as the Peer Economy, is revolutionizing the way we buy and sell goods, services, and even assets. This trend, driven by digital platforms and online markets, enables peer-to-peer transactions through ride-sharing services, home-sharing services, and peer-to-peer financing channels. It’s changing the face of capitalism, offering alternatives to conventional ownership models for commuters, travelers, and entrepreneurs. The Sharing Economy includes ride-sharing, short-term lodging services, delivery, pet care, freelancing platforms, and more. It caters to budget-conscious people, addressing their financial burdens and offering affordable services. This multidimensional strategy focuses on consumer loyalty, entrepreneurial innovation, and environmental responsibility. However, challenges such as consumer data privacy, security breaches, safety standards, and information security are crucial concerns. Regulations and data protection laws are essential to protect consumers’ expectations and ensure data security measures. The Sharing Economy is not limited to ride-sharing and lodging; it’s expanding into various sectors like finance, workspaces, and even entertainment. It’s a global phenomenon, with smartphone applications, real-time tracking, and secure payment methods making transactions seamless. The future of the Sharing Economy is promising, with trends like electric bikes, scooters, autonomous cars, and carpooling shaping the mobility scene. It’s a flexible, affordable, and sustainable way to access goods and services, making it an attractive option for Generation Z, Millennials, Generation X, and Boomers alike. 

The incorporation of blockchain technology into the sharing economy market holds immense potential for addressing fundamental challenges and fueling growth. Blockchain, a decentralized and distributed digital ledger system, offers immutable transaction records and smart contracts, bolstering security, transparency, and trust within this sector. A key advantage is the enhancement of identity verification and reputation systems. Blockchain ensures secure and transparent user identity validation, minimizing fraudulent activities. Reputation scores, essential for peer-to-peer transactions, can be securely stored on the blockchain, providing a dependable measure of trustworthiness for both service providers and consumers. 

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Market Challenges

The Sharing Economy Market, also known as the Peer Economy, is revolutionizing the way we consume goods, services, and assets. This business model allows individuals to rent, share, or exchange resources through digital platforms, facilitating peer-to-peer transactions. Ride-sharing services, home-sharing services, peer-to-peer financing channels, co-working facilities, and freelancing platforms are some examples. However, this market faces challenges. Environmental responsibility, affordability, and consumer expectations call for sustainable, flexible, and affordable services. Traditional ownership models are being disrupted, with budget-conscious people turning to sharing economy alternatives. Security and privacy concerns arise from digital platforms and real-time tracking, requiring data security measures and compliance with data protection laws. Safety standards and information security are essential for consumer trust. Exploitation and fairness are also issues that need addressing. Technology adoption, including smartphone applications, artificial intelligence, and contactless payment systems, is crucial for scalability and user experience. The shared mobility industry, including ride-sharing, electric bikes, scooters, and autonomous cars, is a significant part of this market. The sharing economy impacts various demographics, including Generation Z, Millennials, Generation X, and Boomers, who use mobile apps for ride-sharing, short-term rental properties, peer-to-peer lending, and collaborative work environments. Entrepreneurial innovation and community-based online platforms are driving this multidimensional strategy, which also includes entertainment and telecommunication, transportation, hospitality, and information and knowledge sharing. The challenges for ride-sharing services businesses, short-term rental properties, and peer-to-peer lending include cancellations, cleanliness, safety, and vehicle cleaning requirements. The shared economy market is a dynamic and evolving landscape that requires a comprehensive, adaptive approach.The sharing economy market faces challenges due to ambiguous regulations and fragmented legal frameworks across different regions. This lack of clear and consistent regulations may discourage innovation and investment in new technologies or services, stifling creativity and limiting the market’s potential for transformative solutions. Inconsistent regulations can also lead to market fragmentation, making it difficult for platforms to operate across borders and scale up, ultimately hindering their ability to reach new customers. These regulatory hurdles can hinder the growth and development of the global sharing economy market.

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Segment Overview 

This sharing economy market report extensively covers market segmentation by  

TypeSharing AccommodationSharing TransportSharing FinanceOthersEnd-userIndividualBusinessGeographyAPACEuropeNorth AmericaSouth AmericaMiddle East And Africa

1.1 Sharing accommodation-  The sharing accommodation segment of the global market is driven by individuals and travelers seeking cost-effective, flexible alternatives to traditional lodging. Silvernest, HomeRoom, and CouchSurfing are key vendors in this sector. Silvernest focuses on older adults seeking shared living arrangements, HomeRoom caters to the academic community, and CouchSurfing promotes cultural exchange through free home-stays. These platforms foster community building and provide unique, personalized travel experiences. Technological advancements facilitate secure transactions, and the rising demand for cost-effective and authentic experiences will drive growth in the sharing economy market through the sharing accommodation segment.

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Research Analysis

The Sharing Economy, also known as the Peer Economy, is a market model that enables direct interactions between individuals to rent, share, and exchange goods, services, and assets through digital platforms. This economic system is transforming traditional capitalism by promoting community-based online platforms for peer-to-peer transactions. The Sharing Economy includes various sectors such as transportation (ride-sharing services), hospitality (home-sharing services), and even peer-to-peer financing channels. It offers flexible, affordable, and sustainable services in areas like co-working facilities, freelancing platforms, and information and knowledge exchange. These digital marketplaces facilitate the efficient use of resources, promote environment-friendly practices, and foster a culture of circularity. Mobile apps have made it easier than ever to participate in the Sharing Economy, making it an essential part of modern consumer behavior.

Market Research Overview

The Sharing Economy Market, also known as the Peer Economy, is a revolutionary capitalist model that enables the exchange and sharing of goods, services, and assets through online markets and digital platforms. This multidimensional strategy connects individuals and businesses for peer-to-peer transactions, including renting, sharing, and exchanging. Ride-sharing services, home-sharing services, peer-to-peer financing channels, co-working facilities, and freelancing platforms are just a few examples of this collaborative economy. Environmental responsibility is a key focus, with short-term lodging services, ride-sharing, and delivery services offering more affordable and eco-friendly alternatives to conventional ownership models. Consumer loyalty is fostered through budget-conscious offerings and entrepreneurial innovation. However, challenges include consumer data privacy, security breaches, safety standards, and information security. Regulations and data protection laws are essential to ensure consumer expectations are met and exploitation is prevented. The sharing economy encompasses various sectors such as transportation, hospitality, information and knowledge, and entertainment and telecommunication. It caters to different generations, including Generation Z, Millennials, Generation X, and Boomers, through mobile apps, websites, and real-time tracking. The shared mobility industry continues to evolve with the adoption of technology, including smartphone applications, electric bikes, scooters, autonomous cars, and contactless payment systems. Cleanliness, safety, and flexible services are essential to maintaining consumer trust. The future of the sharing economy includes the scalability of user-friendly platforms, the mobility scene, and the integration of artificial intelligence. This market offers opportunities for micro-entrepreneurs, gig workers, and underutilized resources, creating a circular and sustainable economy.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeSharing AccommodationSharing TransportSharing FinanceOthersEnd-userIndividualBusinessGeographyAPACEuropeNorth AmericaSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Innowise Named to 2026 CRN Tech Elite 250 List By The Channel Company

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WARSAW, Poland, April 26, 2026 /PRNewswire-PRWeb/ — Innowise has officially secured a position on CRN’s 2026 Tech Elite 250. This annual ranking identifies IT solution providers across the US and Canada that have achieved top-tier status within the partner programs of the industry’s leading technology vendors. The inclusion follows a period of verified growth in technical proficiency and a focus on high-impact engineering.

“Innowise concentrates on creating scalable, resilient architectures that produce measurable benefits for our clients. The honor of being recognized by CRN highlights the commitment of our experts to maintain high standards in highly competitive markets,” said Dmitry Nazarevich, CTO at Innowise.

About the Tech Elite 250

The Tech Elite 250 is a directory of companies recognized as having the highest level of partnership and certifications within the global IT ecosystem. In order to reach the final list, the provider must hold the most advanced technical credentials from vendors like AWS, Cisco, Dell, HPE, IBM, Intel, Nutanix, and Nvidia.

This directory serves as a verified ledger for enterprise clients who need to orchestrate complex hardware and software stacks without letting legacy environments rot. Holding these certifications is mandatory to stop the cash bleed caused by inefficient infrastructure and unoptimized cloud usage.

About Innowise

Founded in 2007, Innowise is a global software engineering and IT consulting center. The company is focused on developing high-value technologies, including artificial intelligence, data engineering, and cloud computing. Innowise crafts technological solutions for companies across 40+ domains in order to assist them in updating, creating, and modernizing their digital ecosystems.

Innowise specializes in using established technologies and modular approaches to enable organizations to expand or shift their operations while retaining complete control over all their physical and intangible assets.

Media Contact

Lizaveta Piaskova, Innowise, 48 48 787 027 706, lizaveta.piaskova@innowise.com, innowise.com

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Neusoft Showcases Full-Stack & Global Innovations at Auto China 2026

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BEIJING, April 26, 2026 /PRNewswire/ — At Auto China 2026, Neusoft Corporation hosted a press conference on April 25th and announced three key strategic moves: the iteration of Neusoft OneCoreGo® Global In-Vehicle Intelligent Mobility Solution 7.0, the launch of Neusoft NAGIC.AI Cockpit Software Platform, and the strategic upgrade of its subsidiary, Neusoft Smart Go. By leveraging full-stack technology and a global ecosystem to drive innovation and empowerment, Neusoft is transforming vehicles into proactive, connected and collaborative mobile intelligent spaces.

OneCoreGo® Global In-Vehicle Intelligent Mobility Solution 7.0: An Evolved AI Companion for Global Intelligent Mobility

Intelligent mobility requires proactive perception, scenario integration, and global connectivity to meet personalized user needs and complex driving scenarios. Neusoft, whose products cover over 130 countries and regions worldwide, addresses these challenges with its OneCoreGo® Global In-Vehicle Intelligent Mobility Solution 7.0 through AI-driven innovation and global ecosystem collaboration. Powered by One Mate’s cross-agent collaboration and a sub-product matrix including One Map, One Sight, One Cloud, One Pay, One Store, One Link, and One Guard, the solution delivers full-link global mobility services spanning navigation, in-cabin AR, payment, app ecosystem services, connectivity and security. By breaking down functional silos, it streamlines multi-step operations into a single “depart” command, leveraging full-stack AI technology across perception, decision-making, interaction, and execution processes.

Guan Xin, Vice President of Neusoft and General Manager of Neusoft Automotive Innovative Solutions Division, said, “Adhering to the core principles of AI and globalization, OneCoreGo® 7.0 keeps innovating, evolving into a globally intelligent mobility companion that truly understands user needs.”

To enhance driving safety and mobility efficiency, OneCoreGo® 7.0 has also comprehensively upgraded its sub-products: One Map Global Navigation newly introduces 3D city effects, 3D lane-level maps, and traffic light guidance, offering dedicated solutions for two-wheelers and commercial vehicles as well. One Sight AR For Car improves navigation display effects, reducing instances of taking wrong routes. One Pay In-Vehicle Payment achieves over 90% payment coverage for parking services across core European cities. Combined with One Cloud’s global compliance cloud monitoring platform and One Guard’s full-stack vehicle networking security services, it creates a truly comprehensive OneCoreGo® Global In-Vehicle Intelligent Mobility Solution.

Neusoft NAGIC.AI Cockpit Software Platform: Dual-track Architecture for AI Integration in Every Vehicle

Amid the AI-driven transformation of the automotive industry, the market faces two challenges: limited computing power in legacy vehicles and high adaptation difficulties for next-gen models. Neusoft’s NAGIC.AI Cockpit Software Platform adopts a flexible “distributed + centralized” dual-track architecture approach. For existing vehicle models, it introduces the AI BOX solution, rapidly boosting computing power via external AI computing units, significantly reducing upgrade costs and timelines. For new vehicle models built on next-gen central computing platforms, Neusoft provides a full-stack AI cockpit software product suite, meeting automakers’ stringent requirements for system stability, reliability, and full-domain control.

Pang Hongyan, Vice President of Neusoft and General Manager of the Automotive Intelligent Software Division, said, “Our dual-track architecture enables every vehicle to embrace AI and enjoy an intelligent future. Both existing models and new-generation vehicles can find the most suitable path to intelligentization.”

Moreover, Neusoft’s NAGIC.AI Cockpit Software Platform features scenario-based, human-centric AI Agents seamlessly integrating driving safety, occupant care services, intelligent assisted driving and in-cabin entertainment. Neusoft also collaborates with global ecosystem partners to drive intelligent upgrades of in-cabin interaction products, fostering a more open and dynamic intelligent cockpit ecosystem.

Strategic Upgrade of Neusoft Smart Go: A World-leading Provider of Full-Domain Upper-Body Electronics Solutions for Intelligent Vehicles

Aligning with the trend of E/E architecture evolution from distributed control to “central computing + zonal control”, Neusoft Smart Go, a subsidiary of Neusoft in the field of intelligent vehicle connectivity, has completed a strategic upgrade, aiming to become a global leader in full-domain upper-body electronics solutions for intelligent vehicles.

This strategic upgrade positions Neusoft Smart Go to focus on full-domain scenarios in upper-body electronics, building a product matrix covering full-category in-vehicle electronics solutions, including central computing platforms, cockpit-driving-parking integration, intelligent cockpits, intelligent communications, intelligent audio systems, and zonal control units, and pioneering the integration of large model algorithms.

Jian Guodong, Senior Vice President of Neusoft and CEO of Neusoft Smart Go, said, “This strategic upgrade represents a significant leap from partial focus to comprehensive layout. Through our dual-track strategy of high-end cutting-edge solutions and mature standardized products, we can flexibly meet the mass production needs of vehicle models across different regions and price segments worldwide.” Neusoft Smart Go will provide mass-producible, adaptable hardware-software integrated solutions, empowering global automakers in achieving intelligent transformation.

Neusoft’s President, Mr.Gai Longjia stated, “In the future, Neusoft Smart Go will create stronger synergy with Neusoft Corporation by sharing internal technologies and capabilities while responding jointly to external demands. This specialized yet collaborative model will preserve business unit’s agility and expertise while enhancing Neusoft’s full-stack technological advantages.”

As a trusted partner in a smarter world, Neusoft is committed to collaborating with global automakers and ecosystem partners to build an open and inclusive intelligent automotive community together for the future of global mobility.

For more information about Neusoft, please visit www.neusoft.com.

 

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Lianlian DigiTech Returns to Money20/20 Asia to Expand Partnerships, Share Industry Trends, and Explore AI-Enabled Global Financial Infrastructure

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BANGKOK, April 26, 2026 /PRNewswire/ — Lianlian DigiTech, a leading global provider of digital payment services, was once again invited to participate in Money20/20 Asia, one of the world’s most influential fintech gatherings, held in Bangkok, Thailand from April 21 to 23. At the event, the company presented its latest developments in cross-border payment infrastructure, technology innovation, and ecosystem collaboration, offering a comprehensive view of its work enhancing global cross-border payment capabilities.

During the conference, Lianlian DigiTech announced a strategic partnership with UK-based fintech company USI Money to further strengthen its global cross-border payment network, delivering more efficient and reliable fund flows for merchants worldwide. Shen Enguang, Co-President of Lianlian DigiTech; Mark Ma, Head of Global Banking Partnership at LianLian Global; and Bryan Jiang, General Manager Hong Kong of LianLian Global, attended the event and engaged with representatives from international financial institutions. They shared perspectives on fintech trends and global payment innovation, offering industry insight into the continued evolution of a more integrated and interoperable cross-border payments ecosystem.

Building a Borderless Payment Network with Global Partners Including USI Money

At the event, Lianlian DigiTech formalized a strategic collaboration with London-headquartered USI Money to further develop its global payment infrastructure.

The partnership will focus on cross-border remittance and foreign exchange services, combining both companies’ technological capabilities and resources to deliver a one-stop payment and collection solution for global businesses. The offering is built to be efficient, secure, and cost-effective, improving overall fund flow efficiency and streamlining foreign exchange execution.

Syed Bukhari, Group Chief Business and Operating Officer at USI Money, said: “Our partnership with Lianlian will strengthen our remittance capabilities, creating greater value for our customers through broader network coverage and improved transaction performance.”

Bryan Jiang, General Manager Hong Kong of LianLian Global, said: “By leveraging the complementary strengths of our ecosystem partners in technology and compliance, Lianlian will continue to scale its global payment network and improve transaction efficiency. We remain committed to enhancing financial connectivity across global financial markets and delivering more efficient and reliable cross-border payment solutions for our customers.”

Founded in 2009 and listed on the Main Board of the Hong Kong Stock Exchange in 2024 (2598.HK), Lianlian DigiTech is a China-based, globally focused digital payment company with increasingly integrated AI capabilities across its platform. Guided by its mission of “Connecting the world, Empowering global commerce,” the company focuses on developing a trusted and scalable financial infrastructure. As of the end of 2025, Lianlian DigiTech has built a cross-border payment network covering more than 100 countries and regions, serving over 10.4 million customers worldwide.

USI Money is a foreign exchange and international remittance service provider offering tailored cross-border financial solutions for businesses and individuals. With competitive real-time exchange rates and efficient execution as its core strengths, the company delivers fast, secure, and reliable global fund transfers.

In addition, Lianlian DigiTech co-hosted a networking session with Unlimit during the event, providing a forum for industry dialogue. The session brought together a broad group of fintech partners to explore collaborative models and help foster a more connected ecosystem.

Industry Roundtables: Unlocking Layered Collaboration in AI-Driven Cross-Border Payments and Advancing Financial Inclusion in Emerging Markets

At the same time, Mark Ma and Bryan Jiang were invited to the themed roundtable discussions, where they shared insights drawn from industry practice and outlined new approaches to aligning fintech innovation with the global financial system.

At the roundtable on “Fintech and Banks,” Mark Ma noted that the global payment system is rapidly shifting from isolated capabilities to a layered, collaborative model. Banks continue to serve as the foundational infrastructure, responsible for clearing networks and liquidity management. Fintech firms like Lianlian, meanwhile, build on top of this foundation to deliver application-layer services for businesses, transforming complex cross-border payment channels into more accessible solutions that support a wider range of practical business scenarios. He also emphasized fintech’s growing role in compliance and value creation. By embedding risk controls and verification processes into technology workflows, fintech companies can act as compliance intermediaries, improving efficiency while filtering risk and enabling banks to operate more effectively at scale. Meanwhile, insights derived from transaction data and business flows allow for more precise evaluation of small and medium-sized businesses, shifting capital allocation from experience-based decisions to data-driven approaches and improving access to financial services.

At the roundtable titled “Different Worlds, Shared Challenges: Bridging Emerging Markets,” Bryan Jiang pointed out that the core of financial inclusion is shifting from scale of coverage to practical usability in everyday financial activity. The ability to serve underserved segments such as small and micro merchants and overseas workers in a sustained and reliable manner ultimately depends on continuous improvements in product design and operational capabilities. Using emerging markets as an example, Jiang explained that small and medium-sized businesses in these regions often face challenges such as difficult account setup, complex cross-border collections, high foreign exchange costs, and multi-layered tax requirements. Many existing solutions still follow traditional business-focused models, resulting in cumbersome KYB processes and lengthy review cycles that are misaligned with the asset-light, high-frequency, fast-turnover nature of these businesses. In response, Lianlian has lowered barriers to fund flows by offering local collection accounts, optimizing foreign exchange mechanisms, and improving settlement efficiency. The company has also restructured account architecture, streamlined review processes, and enhanced fund visibility, creating a more seamless and intuitive user experience that better aligns financial services with its clients’ business operations and day-to-day activities.

As digital technologies increasingly integrate with the real economy, innovations in AI and blockchain are reshaping the foundations of global financial services. Lianlian DigiTech has long invested in AI capabilities, global compliance, and the growth of its international service network. Its broad licensing coverage, regulatory track record, localized service capabilities, and technical reliability have earned the trust of regulators, customers, and partners worldwide.

Looking ahead, Lianlian DigiTech will continue to build on its cross-border expertise and compliance experience to further develop its AI capabilities and deepen collaboration with global partners. The company aims to extend its role beyond payment network services into more integrated financial infrastructure solutions. Lianlian DigiTech remains committed to serving as a trusted platform for global financial transactions in an increasingly digital environment, enabling businesses and individuals worldwide to access faster, more efficient, and more seamless cross-border financial services.

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SOURCE LianLian Global

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