Uber, Lyft & Other Ride Sharing Services to See Revenues Double

Today, the sharing economy represents numerous and varied services and business models, which have branched from the following original core grouping of services. With the advent of the sharing economy, one segment which has lent itself well to this disruptive trend is transport, where the desire for cheap, efficient and easy access to transport mechanisms has seen demand soar. Transport sharing solutions include the likes of Uber and Lyft, where consumers can hire a car to transport them to a location (similar to a taxi service, except drivers are members of the public using their own vehicles).

Use in Developing Nations

Our latest reearch - Sharing Economy: Opportunities, Impacts, and Disruptors 2016-2020 - found that shared transport offers interesting potential for those in developing nations. The fact that the majority of shared transport services have utilised mobile devices for use by the customer highlights that a similar success story to the use of mobile money accounts in emerging nations could develop.

Also, Uber’s February announcement that it is to launch its UberMOTO service in India, opens it to an enormous potential market - the city of Bangalore alone has 3.5 million registered motorbikes, and India already allows motorbike taxi bookings through applications in two states.

Transport Sharing Platform Revenues to Double by 2020

Whilst, the concept of Sharing Economy is set to branch into more markets and industries, Juniper forecasts that shared transport platforms, who typically take just 20% of driver earnings, will see revenues grow from an estimated $3.3 billion in 2015, to $6.5 billion by 2020. 

Our complimentary whitepaper, Sharing Economy ~ Uber Disruptive outlines the trends and developments in the sharing economy, with a particular focus on the core areas Juniper believes are set to influence traditional industries in the next few years. The paper also delivers a forecast summary for the transport segment of the sharing economy.