As per statista the global sharing economy is expected to reach $794 billion before 2031. Surprisingly during the pandemic period also the sharing economy or peer-to-peer marketplace grew faster than the traditional marketplace. While other businesses are struggling, the digital peer-to-peer marketplace is flourishing rapidly. There are many types of digital peer-to-peer marketplace. Among them 3 are in high demand.
Let us explore the top 3 digital peer-to-peer marketplaces.
What is a Peer to peer marketplace?
A digital peer-to-peer marketplace is an online platform. Through this platform, people can buy, sell & rent products & services. This peer to peer marketplace connects the buyer & seller directly without any intermediary.
The 3 major peer to peer marketplaces are given below,
- Peer to peer rental
- Peer to peer service
- Peer to peer product
1. Peer to peer rental marketplace
On the peer-to-peer rental marketplace platform, users can list their items for short-term rent to people who need them. The listing for rental includes places, tools & cars, vacation homes…etc. Airbnb & Turo are few examples of successful peer to peer rental marketplace in recent years. These platforms provided a variety of choices to the users. The user chooses an item based on their need. Also there are no traditional Intermediaries in the digital p2p rental marketplace. So, the users choose the digital peer to peer rental marketplace naturally. Moreover, the flexibility & affordability makes these websites hugely successful. For tech entrepreneurs starting a peer to peer rental marketplace is the best option to kick start their business.
2. Peer to peer service marketplace:
The peer to peer service marketplace connects freelance workers with people who need their service. Those laborers are interviewed by the platform manager initially. After the interview, the laborers are allowed to enlist themselves on the platform. This process ensures that the customers get highly skilled laborers. The fiverr & Taskrabbit are best examples of peer to peer service marketplace.
Some of the services are listed below
- Home cleaning
- Heavy lifting
- Installation of smart home
- Plumbing
- Packing & unpacking services
- Furniture movers
3. Peer to peer product marketplace:
The online peer to peer product marketplace allows sellers to list any product for sale. When the buyer searches for particular products on the platform, the search algorithm analyzes & displays products related to the buyer’s search intent & keyword. The buyer can read the description & review the product shown to him. Based on these, the buyer chooses a product from the items displayed. The platform charges a certain percentage of the transaction as a fee for each purchase. For each transaction, the platform charges a certain percentage as a service fee. Etsy & eBay are the best examples of these types of companies.
Conclusion
From the above, we have learned a lot about the top 3 peer-to-peer marketplaces. Apart from these rental, service & product peer-to-peer marketplaces, there are other types of digital peer-to- peer marketplaces also there. For digital entrepreneurs, the peer to peer business platform is a cream of the crop. Because the smartphone & internet usage among people has been growing exponentially in recent years. Thus, developing a peer-to-peer online platform is a sound decision for a new entrepreneur in 2025. Do you have an idea to develop your own peer-to-peer marketplace platform?
Then, cron24 technologies is the right choice for you. Cron24 technologies will assist you in developing a customizable online platform in a short time.
Please feel free to contact us on – [email protected] / +91 93602 39309
