Growing Investments and Increased OEM Interest in Peer-to-peer Carsharing Services is Set to Drive Global Market Revenues Beyond $7 Billion by 2030 Peer-to-peer (P2P) carsharing has turned out to be one of the most innovative approaches to shared mobility today. With increasing environmental concerns and changing trends towards vehicle ownership, the P2P model has brought a whole new perspective to mobility and showcases one of the best examples of collaborative consumption today.
In the last 3-5 years, P2P carsharing has witnessed a surge across the globe with increasing demand especially from young-generation users who seek unique experiences and vehicle owners who are attracted by the revenue benefits from renting their vehicles out.The global market today has more than 40 P2P carsharing service providers; this is a significant number if looked back into the recent timeline.
The business models also aim to provide their own unique experiences while focusing on building greater trust among their communities through quality and reliability.Companies like Turo, Getaround, Drivy, and Snappcar are seeing a growing user base and an increasing number of vehicles on their platforms.
On the other hand, specific P2P business models are also coming up which focus on a particular demographic set who like to experience driving exotic and luxury vehicles.
Frost & Sullivan has noted a growing interest among OEMs to launch P2P vehicle sharing services, which opens up a new opportunity to build brand-focused communities for carsharing while offering greater value to vehicle owners. The market has also witnessed an increase in strategic partnerships and investments from OEMs and other investors.
P2P carsharing has also been evolving over the years, driving change from a user experience perspective.Technology has been a backbone for the development of P2P carsharing business models.
P2P service providers today offer telematics solutions and keyless vehicle access technologies, allowing for simplified and hassle-free exchange of vehicles between owners and renters.The market is poised to experience increased innovation towards providing a more enriching and fruitful experience with advancing technology, insurance coverage, and greater regulatory support from local governments.
P2P carsharing is still in its early growth stage and, over the next 5-10 years, is expected be part of global Mega Trends such as Integrated Mobility.
Research Scope The aim of this study is to analyze the global market potential for P2P carsharing. The analysis is based on the various regions and key countries that are witnessing a rise in P2P carsharing business models.
Key Issues Addressed • To provide a strategic overview of the global P2P carsharing market • To offer insights into the drivers for growth and success of P2P carsharing businesses • To provide a strategic overview of the key technology trends, market challenges, and market opportunities • To comparatively analyze P2P carsharing technologies and their adoption by P2P carsharing operators • To analyze key countries witnessing growth in P2P carsharing services • To predict the future of the P2P carsharing market from a global perspective up until the year 2030 • To profile key market participants in the global P2P carsharing space • To offer strategic conclusions and recommendations
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