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The Growth and Dominance of the Sharing Economy Market, Driven by Cost-Effectiveness and Diversification

2024-07-14 15:54:17.719000

The sharing economy market is projected to reach $827.1 billion by 2032, growing at a CAGR of 7.7% from 2023 to 2032. The market is driven by factors such as the cost-effectiveness of sharing economy services and the diversification of services in sharing economy platforms. The sharing transportation segment dominates the market, accounting for two-fifths of the market share. Generation Z is the largest end user, seeking cost-effective alternatives to conventional accommodation and ride-hailing services. North America holds the highest market share and is likely to dominate the market during the forecast period. Key players in the sharing economy market include Uber Technologies, Inc., Booking Holdings, Inc., Airbnb, Inc., Accor SA, eBay Inc., Lyft, Inc., Fiverr International Ltd., HubbleHQ, Avis Budget Group, Inc., and Stashbee Limited. [eb11768d]

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