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P2P Rental Apps Market Size
- Report ID: GMI12486
- Published Date: Dec 2024
- Report Format: PDF
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.
| Report Attribute | Details |
|---|---|
| Base Year: | 2024 |
| P2P Rental Apps Market Size in 2024: | USD 17.7 Billion |
| Forecast Period: | 2025 to 2034 |
| Forecast Period 2025 to 2034 CAGR: | 10.9% |
| 2034 Value Projection: | USD 49.3 Billion |
| Historical Data for: | 2021 – 2024 |
| No. of Pages: | 180 |
| Tables, Charts & Figures: | 210 |
| Segments covered: | Rental, Platform, End-Use |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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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.
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P2P Rental Apps Market Scope
