Revenue for Shared-Space Providers Like Airbnb To 'Surge' by 2019, Says Juniper

Revenue from using app- and Internet-driven shared-space providers such as Airbnb and WeWork is expected to grow globally from about $2.3 billion in 2015 to about $6.1 billion by 2019, Juniper Research said in a news release Tuesday. Those companies via cheaper rates are taking a proportion of reservation and booking fees, Juniper said. The research firm predicted ease of use and financial rewards for registered property owners will result in "a surge in both listings and bookings." Juniper also said app-driven ride sharing company Uber "has struggled to gain a significant foothold in China" due to competition from a dominant taxi service. But Uber is apparently spending $1 billion annually just to expand there, Juniper said.