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The Sharing Economy has many synonymous names, often being referred to as the collaborative economy, gig economy, access economy, and on-demand economy. Regardless of terminology, the Sharing Economy is here to stay and will experience significant growth in the near future.

The millennial generation of consumers, defined as individuals born between the early 1980s and mid-1990s, are the most actively engaged in the Sharing Economy as service providers.A 2015 survey from Bloomberg shows that 39% of millennials in the U.S. workforce are willing to work in the Sharing Economy model.

Globally, a survey by Nielsen shows that millennials also make up the largest cohort of Sharing Economy participants at 35%, followed by Generation X at 17%.  Their consumption patterns indicate lower preference for physical possessions, and suggest perhaps a greater preference for experiences that offer a communal sense of belonging.

The Construction Sharing Economy will grow significantly over the next five years as the Millennial’s careers develop and they progress into supervisory and management roles.  They will drive efficiency and will share more equipment to maximise utilisation and profitability.

Shareplant, a new construction equipment rental platform in the UK, is poised to take advantage of this developing trend.

To find out more visit https://shareplant.com