Europe’s five sharing economy sectors to skyrocket to €570 billionStaff writer ▼ | June 28, 2016
Total transactions for Europe’s five most prominent sharing economy sectors could see a 20-fold increase to €570 billion by 2025, up from €28 billion today, according to new analysis by PwC.
Huge improvement A 20-fold increase
This will particularly benefit service providers, who are predicted to pocket around 85%, or €487 billion, from the value of sharing economy transactions facilitated by 2025.
The growth of Europe’s sharing economy will be broadly spread, with four out of the key five sharing economy sectors each forecast to deliver over €100 billion of annual transactions by 2025, with only on-demand professional services falling short of this milestone.
However, there is still a sizable growth opportunity for on-demand professional services, which PwC forecasts to expand by 40% per year to €20bn of annual transactions in Europe by 2025, up from less than €1bn in 2015.
Across Europe, PwC analysis estimates revenues accrued by platforms in the five key sectors of the sharing economy could reach €83 billion by 2025, up from just €4 billion today.
Of the five key sharing economy sectors, on-demand household service platforms look set to achieve the fastest growth, expanding revenues by roughly 50% per year to 2025.
The sector’s development is being driven by a new generation of consumers who are increasingly turning to on-demand services to resolve their needs around the home, such as Deliveroo for restaurant food delivery and TaskRabbit for DIY tasks. ■