P2P Rental Apps Market - By Rental, By Platform, By End-Use and Forecast, 2025 - 2034

P2P Rental Apps Market Size

The global P2P Rental Apps market was valued at USD 17.7 billion in 2024 and is projected to grow at a CAGR of 10.9% between 2025 and 2034. The increasing shift towards the sharing economy and growing consumer preference for on-demand services are significant growth drivers for the market.
 

As more people embrace the flexibility and cost-efficiency of renting instead of owning, platforms facilitating peer-to-peer rentals are gaining traction. Furthermore, advancements in mobile technology, digital payment systems, and user-friendly interfaces are making it easier for individuals to rent out personal assets, such as cars, bikes, or tools, further accelerating market growth. This trend is reinforced by millennials and Gen Z's affinity for access-based consumption and sustainable living practices, positioning the P2P rental market for continued expansion.
 

For instance, in January 2024, Ejaro, a peer-to-peer car rental platform in Saudi Arabia, has successfully raised USD $3.28 million in a Pre-Series A funding round. The company highlighted that this funding marks a significant milestone, aligning with a series of strategic developments and the launch of new products, underscoring its commitment to transforming the car rental sector in Saudi Arabia. The investment will be used to bolster Ejaro's development and expansion initiatives, aiming to strengthen its presence and competitive position in the peer-to-peer car rental market across the Middle East and North Africa.
 

The increasing demand for specialized rental categories, such as recreational vehicles, luxury cars, and outdoor equipment, is driving growth in the P2P rental market. These segments attract consumers seeking cost-effective access to high-value assets for specific occasions. Platforms offering these specialized rentals benefit from increased user engagement and loyalty. Social media promotion and targeted marketing efforts further amplify this trend, encouraging broader adoption of P2P platforms for diverse needs.

P2P Rental Apps Market Trends

AI and machine learning are revolutionizing the P2P rental apps industry by offering personalized user experiences. These technologies leverage advanced algorithms to analyze user behavior and provide tailored rental options, boosting user satisfaction and encouraging repeat business. They also enable dynamic pricing, predictive demand forecasting, and fraud detection, improving the efficiency and trustworthiness of these platforms. As a result, P2P rental apps are emerging as sophisticated alternatives to traditional rental services, attracting a broader user base and expanding their market share.
 

The P2P rental market faces significant obstacles related to liability and insurance issues. Inconsistent insurance coverage policies across regions and asset categories create uncertainty and risks for users. Accidents or damages involving rented assets can lead to disputes overcompensation, affecting user trust. Platforms must invest heavily in comprehensive insurance solutions and legal frameworks, potentially increasing operational costs. Resolving these issues is crucial for market growth, as users prioritize safety and assurance in their rental decisions.
 

P2P Rental Apps Market Analysis

Based on platform, the market is segmented into mobile apps and web-based platforms. In 2024, the mobile apps segment accounted for USD 11.3 billion and is expected to grow significantly over the forecast time frame. Mobile applications dominate the P2P rental market due to their accessibility and integration with smartphone features. These apps utilize geolocation, push notifications, and secure payment gateways to enhance user experience. They offer real-time updates, instant communication between parties, and seamless navigation. App-based marketing campaigns and exclusive discounts further attract users to mobile platforms. As global smartphone adoption increases, mobile apps are becoming the primary medium for P2P rentals.
 

Based on the end-use, the market is segmented into individual consumers and businesses & organizations. The individual consumers segment accounted for 75% of the P2P rental apps market share in 2023. Individual consumers drive the P2P rental market, seeking cost-effective access to assets without long-term commitments. The rise of the gig economy and flexible lifestyles has increased demand for short-term rentals across various categories. P2P platforms empower individuals with diverse choices, affordability, and convenience, while also enabling asset monetization. User-friendly interfaces and social media influence have further accelerated adoption among individual consumers.
 

In 2024, U.S. accounted for a market share of over 68% in North America market. The U.S. dominates the P2P rental apps market, driven by a well-established sharing economy culture, widespread smartphone use, and a tech-savvy population. Leading platforms like Turo and Airbnb thrive in this environment by prioritizing trust, transparency, and user convenience. These factors have contributed to the widespread adoption of P2P rental services, positioning the U.S. as a key market for growth in this sector. With the increasing preference for flexible and cost-effective rental solutions, the U.S. remains at the forefront of this trend.
 

In Europe, the growing shift towards sustainability and eco-friendly practices is a major driver for the market. As consumers increasingly prefer access over ownership to reduce carbon footprints, P2P platforms align with these values by offering flexible rental options. This trend is particularly strong among millennials and Gen Z, who prioritize sustainable consumption. Additionally, European cities with congestion charges and limited parking space further promote the adoption of P2P car rental services, making it a viable alternative to traditional car ownership.
 

In the Asia Pacific region, the rapid urbanization and growing middle-class population are key growth drivers for P2P rental apps. As cities become more crowded, individuals are looking for cost-effective and convenient transportation options, with P2P car rentals offering a flexible solution. The increasing smartphone penetration and internet access in developing countries like India and China are also accelerating the adoption of P2P platforms. Furthermore, government initiatives promoting the sharing economy in many countries provide a supportive environment for P2P rental growth in the region.
 

P2P Rental Apps Market Share

Airbnb, Vrbo, Booking.com, Turo, Zillow Rentals, Getaround, and RVshare collectively held a significant market share of 42% in the P2P rental apps industry in 2024. Airbnb maintains its competitive edge by diversifying offerings to include unique accommodations and experiences. The company focuses on enhancing user experience, ensuring secure transactions, and implementing sustainability initiatives. Strategic partnerships and targeted marketing campaigns further strengthen its global market position.
 

Vrbo competes by specializing in whole-home vacation rentals, targeting families and groups. It leverages its parent company Expedia's resources for extensive market reach and competitive pricing. Vrbo's focus on premium customer service and exclusive property listings positions it as a high-end alternative in the market.
 

P2P Rental Apps Market Companies

Major players operating in the P2P rental apps industry are:

• Airbnb
• Booking.com
• Fat Llama
• Getaround
• Outdoorsy
• RVshare
• ShareGrid
• Turo
• Vrbo
• Zillow Rentals
   

P2P Rental Apps Industry News

• In October 2024, Turo, announced a partnership with CrashBay. This collaboration aims to simplify the auto claims and repair process for Turo hosts in the U.S. and Canada. Through this partnership, CrashBay’s user-friendly platform will offer Turo hosts seamless access to certified repair shops, ensuring quick, efficient, and top-quality repairs, enhancing the overall car-sharing experience while making vehicle ownership easier.
   
• In September 2024, Ride-share giant Uber and car rental marketplace Turo have announced a multi-year partnership that will integrate Turo’s extensive vehicle offerings into the Uber app. Starting in early 2025, Uber users in key global markets including the U.S., UK, Canada, Australia, and France will be able to access Turo’s selection of over 1,600 vehicle makes and models directly through Uber Rent. This collaboration aims to provide expanded rental options for Uber customers while creating additional opportunities for Turo hosts.
   

The P2P rental apps market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue ($ Mn/Bn) from 2021 to 2034, for the following segments:

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Market, By Rental

• Property rental
  • Residential
  • Vacation rentals
  • Shared spaces
• Vehicle rental
  • Cars
  • Motorcycle & scooter
  • Recreational vehicle
• Equipment rental
  • Tools & machinery
  • Sports & fitness equipment
  • Photography equipment
• Others

Market, By Platform

• Mobile apps
• Web-based platform

Market, By End-Use

• Individual consumers
• Businesses & organizations

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Nordics
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Southeast Asia
• Latin America
  • Brazil
  • Argentina
  • Mexico
• MEA
  • UAE
  • Saudi Arabia
  • South Africa