The UK's largest sharing economy sectors could increase sales by £6bn this year, according to predictions from professional services firm PwC. On-demand household services are expected to expand revenues by roughly 45% a year to 2025 as the fastest growing sharing economy sector. But there is still work for policymakers and regulators in ensuring that these new businesses can operate safely and legally. Total sharing economy transactions in the UK are nearly doubling year on year, led by peer-to-peer financing and accommodation providers, from £3.9bn in 2104, to £7.4bn in 2015 and to an estimated £13bn in 2016. PwC predicts that by 2025 total transactions could reach £140bn.
The UK's largest sharing economy sectors could increase sales by £6bn this year, according to predictions from professional services firm PwC. On-demand household services are expected to expand revenues by roughly 45% a year to 2025 as the fastest growing sharing economy sector. Meanwhile, on-demand professional services are expected to expand by 40% a year. Total sharing economy transactions in the UK are nearly doubling year on year, led by peer-to-peer financing and accommodation providers, from £3.9bn in 2104, to £7.4bn in 2015 and to an estimated £13bn in 2016. PwC predicts that by 2025 total transactions could reach £140bn.