There is a sharp rise in the penetration of sharing economy due to enhanced digital platform, which has facilitated business model on the peer to peer basis. As it has been widely known that sharing society means few professionals in a particular firm. This has resulted in the significant increase in the unemployment. It has been criticised that the shared economy deprives the benefit accorded to the employees like sick pay, leaves and bonus. They are often underpaid. With the launch Cab services, by the Uber, there has been considerable negative impact on the businesses of the existing taxi services.
Ultimately, evaluation of the amount of value provided on this platform can be captured. This depends on whether these firms can organise themselves. There should be fair competition among them, which can regulate their growth. Any unfairness in their growth model will impact low and small scale firms. There should be proper mechanism, which can protect the existing small scale firms from getting affected as most of the actions are at local and state level. The creation of services which can reduce the importance of existing services, is a concern.
The new economic system always possesses advantages and disadvantages, which require consideration. Sharing economy has made its place in the market segment and has been adapted by the people around the globe. Technology will provide continuous change to meet the need of the people along with mutual profit (Cravens and Piercy, 2013). Focus on scientific research is required to avoid the disruptive influence of sharing economy on the global markets along with moral issues and hazy profitability issues. Change in the strategy along with updated internationalization pattern is the need of the hour.