Sharing economy market scale of Japan is expected to grow to 14 trillion JPY in FY2030 without anxiety about COVID-19

The market survey on sharing economy services in Japan, jointly conducted by Sharing Economy Association and InforCom Research (ICR), finds that the sharing economy market scale of Japan in FY2020 is expected to reach 2.1 trillion JPY, despite the expectation is lower than the original forecast due to the COIVID-19 influences. 

Supposing a stable growth in the future (scenario 1), the market scale is expected to expand to 7.5 trillion JPY in FY2030, almost the same scale as the advertising industry. Supposing higher awareness of sharing services and without any anxieties about COVID-19 (scenario 2), the market scale is forecasted to grow to 14.2 trillion JPY, the same scale as the real estate industry.

The market scale of space sharing services including private home sharing will amount to 342.9 billion JPY in FY2020 and is expected to expand to 591.3 billion JPY in the scenario 1 and 844 billion JPY in the scenario 2 in FY2025 and to 971.5 billion JPY in the scenario 1 and 1.9 trillion JPY in the scenario 2 in FY2030. 

The market scale of transportation sharing services, such as car-sharing and cycle-sharing, will reach 231.23 billion JPY in FY2020 and is expected to expand to 513 billion JPY in the scenario 1 and 683.9 billion JPY in the scenario 2 in FY2025 and to 1 trillion JPY in the scenario 1 and 1.9 trillion JPY in the scenario 2 in FY2030. 

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In addition, the survey illustrates that an economic ripple effect to the existing industries by sharing workers will be 1.3 trillion JPY in FY2020 and is expected to grow to 4.8 trillion JPY in the scenario 1 and 9.4 trillion JPY in the scenario 2 in FY2030. 

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