Car sharing can change the way we get around – Knowligent
Car sharing can change the way we get around

Car sharing can change the way we get around

HomeHow to, TechCar sharing can change the way we get around

Car sharing is becoming increasingly popular as a solution to the dilemma of car ownership. Analysts expect the sector to continue to grow and innovate. However, not all car owners think car sharing is a good idea.

A recent study from market research firm Frost & Sullivan found that the global car-sharing market is expected to grow from more than 7 million members and 112,000 vehicles in 2015 to 36 million members and 427,000 vehicles in 2025. Established brands like Turo and Zipcar are already market leaders. New apps entering the market will need to build trust and be creative so owners see the value of car-sharing.

“Broadly speaking, there are two types of car-sharing services: peer-to-peer and business-to-consumer,” Ioannis Bellos, an associate professor at George Mason University School of Business, told Lifewire in an email. Examples of P2P include Turo and Getaround, while Zipcar is an example of business-to-consumer.

“In both programs, users pay to drive a car they don’t own,” Bellos said. “Uber and Lyft give users the ability to meet their daily mobility needs, but Turo offers longer-term rentals and access to more exotic car models.”