A STEEPLE Analysis and Information Technology Professionals' Interview Insights Regarding the Platform Economy

Abstract

The rise of the platform economy, also known as the sharing economy, has generated new business models that increasingly shape global economic activity. This study provides an overview of how emerging digital platforms are transforming economic, social, and regulatory landscapes. It examines the platform economy through a social, technological, economic, environmental, political, legal, and ethical analysis to offer a comprehensive understanding of its multifaceted effects on key external factors. The platform economy leverages advancements in information technology, social media communities, and consumer awareness to facilitate direct transactions between businesses and consumers. By exploring these dynamics, the study identifies both the advantages and challenges of platform-based models, emphasizing gaps in their integration with traditional markets. Furthermore, it incorporates insights from interviews with industry experts to present a detailed analysis of the platform economy's broader implications for societal and economic structures, highlighting its strengths and weaknesses.