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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.

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

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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SOURCE Technavio

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BinBase Launches 2026 BIN Database Featuring 6-11 Digit Waterfall Lookup for High-Precision Payment Routing

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BinBase introduces its upgraded 2026 BIN Database, offering 3.2M+ card ranges, 29 granular data attributes, and extended 8-11 digit accuracy to eliminate false-positives and optimize routing for global fintechs.

MIAMI, July 21, 2026 /PRNewswire-PRWeb/ — BinBase, a provider of payment intelligence and card issuing data, has announced the official release of its updated 2026 BIN Database. Engineered for payment gateways, acquiring banks, fraud prevention platforms, and e-commerce platforms, the updated dataset solves critical routing inaccuracies caused by the industry-wide shift from legacy 6-digit BINs to extended 8-to-11-digit card ranges.

Relying solely on 6-digit BINs in 2026 means misclassifying card products and losing money on interchange fees. Our 2026 release provides the surgical precision developers need for cost-effective payment routing.

Since ISO/IEC 7812 expanded the standard Bank Identification Number (BIN) length to 8 digits, traditional 6-digit lookup tables have struggled to correctly identify modern card profiles. This leads to false positives, misidentified interchange fees, and failed transactions. BinBase addresses this challenge by introducing a multi-tiered database structure supporting up to 11-digit precision, alongside a recommended “Waterfall Lookup Algorithm.”

To ensure 100% routing and verification accuracy, the Waterfall method executes a descending search sequence: checking 11-digit BIN ranges down through 10, 9, 8, 7, and 6 digits until an exact match is resolved.

Key technical specifications of the 2026 BinBase release include:

Over 3.2 Million Card Ranges: Full global coverage including Visa, Mastercard, Amex, Discover, UnionPay, JCB, and regional networks.Extended Precision: Over 88% of the dataset consists of high-precision ranges (8–11 digits) to accurately isolate sub-brands, currencies, and card tiers.29 Granular Attributes: Beyond core issuer data, the database features advanced parameters including Durbin Regulation status, US Debit/ATM network routing (STAR, NYCE), Fast Funds (Visa Direct / Mastercard MoneySend indicators), commercial Level 2/Level 3 data, and digital wallet token ranges (Apple Pay / Google Pay).

“Modern payment processing requires surgical precision,” said a spokesperson for Damiko Inc. “Relying solely on 6-digit BINs in 2026 means misclassifying card products and losing money on interchange fees. Our 2026 release provides the underlying intelligence developers need to build resilient, cost-effective payment infrastructure.”

Developers and payment teams can evaluate the full 29-field database schema, review integration examples, and download a free 2026 sample dataset on the official GitHub repository.

To learn more about full commercial licensing options, instant CSV downloads, and custom API delivery, visit BinBase.

About Damiko Inc

Damiko Inc is a US-based fintech data provider specializing in card issuer analytics, payment routing data, and global BIN database solutions. Operating through its flagship product, BinBase.com, the company supplies high-precision transaction intelligence to help merchants and payment facilitators worldwide optimize approval rates and mitigate fraud.

Media Contact

Fedor Lavrikoff, BinBase, 1 +17866133333, sales@binbase.com, htttps://www.binbase.com 

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SOURCE BinBase

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Redington Limited and AutomationEdge Announce Strategic Partnership to Accelerate Enterprise Automation and Agentic AI Adoption

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MUMBAI, India, July 22, 2026 /PRNewswire/ — Redington, a leading technology aggregator and innovation catalyst, and AutomationEdge, a leading Agentic Process Automation platform for global enterprises, have announced a strategic partnership to accelerate the adoption of enterprise automation and Agentic AI. The collaboration brings together Redington’s extensive distribution ecosystem and partner network with AutomationEdge’s enterprise-grade Agentic Process Automation platform to enable faster, scalable, and outcome-driven digital transformation for organizations.

As a part of the partnership, AutomationEdge’s portfolio of AI Agents and automation solutions is now available through the Redington AI Exchange Marketplace, enabling partners and customers to easily discover, evaluate, and deploy enterprise-ready AI solutions. This availability significantly reduces the time required to adopt AI-driven automation and provides organizations with access to proven use cases that can deliver measurable business outcomes.

The partnership is focused on delivering solution-led automation offerings that simplify adoption for enterprises and channel partners. By combining Redington’s go-to-market reach with AutomationEdge’s 10x automation capabilities, the two organizations aim to help businesses move from fragmented automation initiatives to enterprise-wide orchestration—driving efficiency, agility, and operational excellence.

Through this collaboration, both companies will jointly promote pre-built automation and AI Agent solutions across key business functions, including banking operations, insurance processes, IT / HR operations, customer service, and finance functions. These solutions include ready-to-deploy workflows, AI Agents, demonstration environments, and implementation frameworks designed to accelerate deployment and reduce complexity.

The partnership will also include joint go-to-market initiatives such as partner enablement programs, co-branded workshops, solution showcases, and proof-of-concept (PoC) engagements. These initiatives are designed to equip Redington partners with the knowledge, tools, and support needed to successfully position, sell, and implement AI-powered automation solutions for enterprise and mid-market customers.

Sayantan Dev, Global Head, Software Solutions Group, Redington, said, “The next phase of AI adoption will be defined by execution. Through the Redington AI Exchange Marketplace, we are bringing together the technologies and ecosystem needed to help partners deliver real business outcomes at scale. AutomationEdge’s Agentic AI and automation capabilities strengthen our ability to enable customers to accelerate AI adoption with greater speed, governance, and confidence.”

Prasad Likhite, Chief Sales Officer of AutomationEdge, said, “We are delighted to strengthen our partnership with Redington and accelerate the adoption of next-generation enterprise automation and Agentic AI solutions across the market. The availability of AutomationEdge AI Agents through the Redington AI Exchange Marketplace marks an important milestone in democratizing AI-led transformation, enabling enterprises to rapidly scale intelligent automation initiatives with speed, agility, and measurable business impact. At the same time, it creates significant opportunities for partners to drive innovation, unlock new revenue streams, and deliver greater value to their customers.”

The collaboration also emphasizes localized support, implementation expertise, and customer success services, ensuring that organizations can seamlessly deploy, manage, and scale automation initiatives. By leveraging Redington’s strong partner ecosystem and AutomationEdge’s deep expertise in automation and Agentic AI, the partnership is well-positioned to address the evolving needs of modern enterprises.

As organizations increasingly prioritize productivity, operational efficiency, and AI-led transformation, this partnership marks a significant step toward making enterprise automation and Agentic AI more accessible, scalable, and impactful across industries.

 About Redington

Redington Limited (NSE: REDINGTON) (BSE: 532805), a leading technology solutions provider, empowers businesses in their digital transformation journeys. Guided by its brand narrative “Unlock Next”, Redington goes beyond distribution to remove barriers, accelerate digital adoption, and unlock access, growth, trust, efficiency, and impact—helping businesses, communities, and societies embrace what’s next in technology

About AutomationEdge

AutomationEdge is a leading Agentic Process Automation platform for global enterprises. Its platform enables organizations to automate complex business processes, deploy AI Agents at scale, improve operational efficiency, and accelerate digital transformation initiatives across industries.

Media Contact:
Rahul Wandile
rahul.wandile@automationedge.com

 

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Applied Intuition Launches Dana, the Agentic Platform for Physical AI

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New platform pairs agentic AI with the tooling, data, infrastructure and domain expertise Applied Intuition has built over nearly a decade to speed the safe development of intelligent machines for the physical world.

Dana is the first agentic platform for building, testing, deploying and operating physical AI systems across industries.Built on nearly a decade of Applied Intuition’s tooling, infrastructure, workflows and engineering expertise, Dana is purpose-built for safety-critical systems operating in the physical world.Dana helps companies build physical AI applications for any industry or use case, from autonomy and software-defined vehicles to fleet operations, robotics, construction, mining and intelligent in-vehicle experiences.Dana has already reduced critical phases of vehicle development from months to days in internal and select customer deployments.

SUNNYVALE, Calif., July 22, 2026 /PRNewswire/ — Applied Intuition, Inc., a leader in physical AI, today announced the launch of Dana, the first agentic platform for building, testing, deploying and operating physical AI systems across industries. Dana combines the power of agentic AI and rapid application development with nearly a decade of Applied Intuition’s tooling, infrastructure and engineering knowledge. The result is a unified system that accelerates the development of intelligent machines in the physical world.

“We believe physical AI will become one of the defining technologies of this century,” said Qasar Younis, co-founder and CEO of Applied Intuition. “Our ambition is to help bring intelligence to a billion machines, and Dana is the platform we built to make that possible.”

Unlike general-purpose AI tools designed primarily for digital workflows, Dana is built for the complexities of machines operating in the physical world. Dana comes with all the platform capabilities needed to build and deploy safety-critical physical AI applications, including data, visualization and tooling, as well as the evaluation, traceability and governance these systems require. The platform was designed to work across industries and with a wide range of use cases, from software-defined vehicle development and advanced driver assistance systems (ADAS) to mining and construction operations, truck fleet management, robotics and intelligent in-vehicle experiences. With Dana, customers can:

Deploy Applied Intuition’s reference applications — spanning autonomy, fleet operations, and more — or build their own.Use both natural language and command-line interfaces to complete complex development tasks more intuitively and accelerate iteration cycles across teams and systems.Integrate the platform with enterprise systems and collaboration tools, like Slack and Jira, helping organizations connect fragmented engineering and operational workflows while embedding agentic capabilities across the development process.

Applied Intuition has used Dana internally since last year, building and delivering solutions on the platform for long-standing customers across automotive, trucking, mining, and agriculture. Dana’s agent-driven workflows have reduced critical phases of vehicle development timelines from months to days in some cases. Applied Intuition has offered limited, early access to select customers, including heavy-equipment manufacturer Komatsu and Isuzu Motors, who is using the platform to accelerate L4 autonomy for its fleet of commercial trucks.

“We’ve been impressed by how Dana can streamline complex engineering workflows and accelerate development,” said Yasuhiro Yazawa, Director, Isuzu Motors Limited, Japan. “Dana gives our engineering teams greater confidence to develop, track and deploy safe autonomous-vehicle capabilities at a much faster pace.”

“Applied Intuition has been a valuable technology partner as we continue advancing the digital capabilities that support the next generation of mining equipment and solutions,” said Peter Salditt, CEO, Komatsu Mining. “Dana represents another step forward, bringing intelligent, agentic capabilities into our engineering workflows to help our teams innovate faster, improve efficiency and ultimately create greater value for our customers’ operations.”

Dana is designed to help companies keep up with the fundamental shift now underway across industries. As autonomous vehicles, robots and industrial systems become more capable, manufacturers need a more integrated way to build, validate and deploy them safely. Dana gives teams a faster path from idea to production, and the confidence to put increasingly intelligent machines into the real world.

The future of AI is physical. Dana was built for it.

To learn more about Dana and Applied Intuition’s physical AI platform, visit AppliedIntuition.com.

About Applied Intuition
Applied Intuition, Inc. is powering the future of physical AI. Founded in 2017 and now valued at $15 billion, the Silicon Valley company is creating the digital infrastructure needed to bring intelligence to every moving machine on the planet. Applied Intuition services the automotive, defense, trucking, construction, mining and agriculture industries in three core areas: tools and infrastructure, operating systems, and autonomy. Eighteen of the top 20 global automakers, as well as the United States military and its allies, trust the company’s solutions to deliver physical intelligence. Applied Intuition is headquartered in Sunnyvale, California, with nearly two dozen offices across the globe, including in London, Munich, Tokyo, Seoul, and the Washington, D.C. metro area. Learn more at applied.co or press@applied.co.

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SOURCE Applied Intuition, Inc.

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