Riding modern economic and behavioral trends, the sharing economy has been on the rise in the last decade. From vacation rentals to logistics, traditional companies can no longer rely on old business models to satisfy customer needs.
Among other sharing economy-related work, we’ve already built platforms for the first Lithuanian car-and-bicycle sharing company CityBee and solutions for the P2B lending platform Lendico. And we're ready to help you build technological solutions to make your business more efficient, more effective, and more trusted.
While most sharing businesses are still at the beginning of the S curve, and the technological possibilities and consumer dynamics of sharing are still maturing, a very bright future is forecasted for the sharing economy.
420 sharing economy startups raised $23 billion in 2016. That’s 10 times more companies and 544 times more venture funding than in 2007 (BCG Henderson Institute, 2017)
Funding for B2C sharing ventures is still on the rise, led by workspace, storage, delivery, and fashion startups. B2B sharing economy models are now gaining traction too (BCG Henderson Institute, 2017)
Revenue from the global sharing economy is set to grow from $15 billion in 2014 to $335 billion by 2025 (PwC UK, 2014)
Trust is crucial for sharing economy companies. Research shows that trust in a platform can help build trust in a provider, but not vice versa
Highly dependent on trust and increasingly regulated, the sharing economy offers little room for error. For businesses that rely on thousands of contractors to address their needs at every moment, that means being able to handle huge data spikes, 24/7 real-time monitoring, state-of-the-art payment systems and impeccable quality assurance processes.
Blockchain technology and smart contracts can offer new standards for sharing economy businesses, while the Cloud can enable users to access, share and rent just about anything. Hence the experts predict a future of Everything-as-a-Service (XaaS). All these things can have a tremendous positive impact on the industry, but only if used right.
Let's talk about your choice and implementation of the right technology for your sharing economy business.