Peer-to-Peer Car Sharing Takes Off Amid Ongoing Global Slowdown in Mobility and Transportation
Strategy Analytics’ Automotive Connected Mobility service has released a new, global database of Peer-to-Peer (P2P) car sharing operators, tracking more than 50 unique operators across 33 different countries.
At the outset of the COVID-19 pandemic the outlook for peer-to-peer car sharing operators was bleak. Users and members vanished along with revenue and investment. Nearly a year later, a very different picture is emerging as operators have found renewed interest and enhanced prospects from an increased interest in personal transportation and the cost savings offered by the sharing economy.
What has emerged from this pandemic-fueled recovery is a global phenomenon with more than 50 P2P operators, 1.3 million vehicles, and 42 million users; reflecting low barriers to entry and a compelling low-cost, low-investment business model. In fact, more than half of the P2P operators tracked in Strategy Analytics’ database were founded within the last three years, suggesting the global P2P car sharing competition is just starting to heat up.
In the “Global Peer-to-Peer (P2P) Car Sharing Database 2020 Topline Report”, Strategy Analytics details the top 5 P2P car sharing operators in terms of number of vehicles, number of users, geographic reach, and total funding.
“Car sharing continues to boom amid the ongoing pandemic,” said Roger C. Lanctot, director of automotive connected mobility for Strategy Analytics.
“For many, P2P car sharing flourishes due to accessibility, convenience, and relative cleanliness compared to public transportation. This business model is here to stay,” added Ben Lundin, industry analyst for automotive connected mobility.