Future of On-Demand Economy | Rise of On-Demand Apps

On-demand apps and on-demand services!! Well, we all have heard these terminologies many times, so what are these on-demand services and apps??

On-demand services can be defined as providing goods and services to the customers within a minimal period of time. Whereas on-demand apps can be considered as a connector between customers and different businesses, it’s basically the mobile application that has been developed to provide a more efficient, convenient, and easier way of services to the customers.

This new technology has mostly covered all the sectors of the businesses which include travel, transportation, laundry, food delivery, education, grocery, blue-collar service, healthcare, beauty, and fashion products. In short we can say that customers are now just a few taps away from these services.

Such apps and services are in high demand now a days while considering the current scenario of COVID-19 being digitally connected with the world has become the basic need of every industry.

Annual On-Demand Economy Spending

These new applications and services have completely transformed the way businesses use to serve their customers, while on the other hand, it has made things easier and more feasible for everyone. Many businesses have also made affords to change their business model to provide better service experience to their customers.

Today almost every industry has realized the importance of being connected digitally with their customers and the rest of the world, most of all the industries are using on-demand service.

let’s check out which are the top 5 industries that have been benefited from on demand applications and services:

  • Food Industry:

Online food delivery apps have become radical for the restaurant industry, in today’s era people who have been stuck with their tight schedule and the bachelors who are staying away from their families are mostly dependent on restaurant food due to which there has been a spurt in the food delivery apps.

Few apps like Swiggy and Zomato have become the most popular food delivery apps while many of the big and small food brands have developed their own apps. On one side, food delivery apps have helped users to order appetizing food online from their comfort zone.on the other hand, it has given an opportunity to the restaurant owners to expand their business to the larger area.

On-Demand Food Delivery Market Scope:

on demand food deliery market scope

Image Source: Appinventive

At the same time by using apps like Grofers and big basket users can buy groceries online at the best price and can get delivered at their doorsteps. While applications like “Foodjugaad” are offering features like contactless ordering system for the restaurants which have been on high demand during this pandemic situation.

Seeing the growth of on-demand food delivery service, more new startups and restaurants have been started.

  • Education:

The education industry has been another important sector that has been highly affected due to the COVID-19 situation, due to which on-demand services have raised at a huge level and have become a basic need for all the education departments including schools and small-scale institutes too.

While keeping the current situation of COVID-19 aside, it has become feasible for students and working professionals who are willing to learn new skills to study any topic according to their convenient time. Apps like byju’s, Unacademy, Vedantu, Duolingo, and many more have already acquired a huge place in the education industry.

Most popular Apple App Store categories in June 2020 by statista:

Most popular Apple App Store categories 2020 Published by J. Clement, Jun 22, 2020  As of June 2020, business apps were the second-most popular category in the Apple App Store with a share of 10.1 percent of active all apps being business apps. Games were the most popular iOS app category, accounting for a total of 22.15 percent of active apps. Apple app store categories – additional information Apple App Store is a platform in which users can browse and download applications for an Apple device. The App Store was launched in 2008, and the number of apps available in the App Store has consistently grown since its release. Gaming apps are the most popular apps based on availability, as about 22 percent of the all apps available fit in this category. Gaming is also an app category with high mobile user engagement. As of June 2020, Roblox was the top grossing gaming app, generating more than 2.74 million U.S. dollars in revenue per day. The average price for an gaming app game is about 51 cents, while the average app price is just under one U.S. dollar. Common app revenue models include free apps with in-app purchases, paid apps without in-app purchases and paid apps with in-app purchases. Gaming apps frequently generate revenue through in-game item purchases. Read more Most popular Apple App Store categories

Even the global online education market is now expected to reach from USD 187.877 Bn to USD 319.167 Bn between 2019-2025 with a CAGR of 9.23%.

  • Online Marketplace:

Online Marketplace is been highly growing on-demand apps among all. Traditionally it was highly time-consuming with less number of options available for any of the particular items.

But, with the union of on demand apps with the traditional market, it has been beneficial for both consumers and suppliers. where buying an item gives multiple options to the customer whereas suppliers have also got the chance to expand their business to different cities and states. Some of the well known online marketplaces include Amazon, Flipkart, eBay, Myntra where sellers can sell their products online.

It has also become effortless to place orders online with convenient time, cheaper rates and receive the item at our doorsteps including return and cancellation policies.

  • Healthcare:

Mobile app development for the healthcare industry is another on demand service in the current market, with the help of such apps users can make appointments online according to their suitable timing which helps them to avoid queues and save their time.

possibilities with on-demand heath care services

Apart from making online appointments, these apps have also had a huge impact on the pharmacy industry, now users can purchase medicine online and it’s just a few clicks away to be at their doorsteps. For example, using apps like Pharmeasy, Netmeds, 1mg, Medlife users can buy medicine online, consult doctors, and book lab tests online at the best price.

  • Transportation and Travel:

Transportation and travel industries are also one of the most important industries before it used to be time-consuming. People used to wait for the cab to arrive, whereas the transportation department also used to update their customers regarding the courier delivery or arrival via SMS.

However, by the arrival of traveling apps like Uber, Ola, Lyft, and Airbnb traveling has become easier, comfortable, and safe. Now the users can track the time of arrival of their cabs, while on the other hand with the use of features like sharing “Ride Number” users can share their particular ride number with their family and friends, using which user’s family members and friends can also track user’s current location which has increased safety measures.

How Consumers and Providers of Transportation & Travel Industries Use On-Demand Applications

How Consumers And Providers Use On-Demand Applications

Image Source: Mobility

Considering the transportation sector which has also adopted this new technology which includes features like “track your order” in which a particular code number is given to the customers using which the customer can track their orders by their own and can check out how many days their courier would take to arrive at the particular place. Such features have enhanced the customer experiences.

Wrap-up:

As we can see with the enhancement of technology, on-demand apps are making our day to day life easier. Not only in these 5 industries but this digital technology has captured most of the business sectors.

While on the other hand with an increase in mobile app development, has also raised competition among the various firms. The firms which are not willing to modify their business model accounting to new technologies, not willing to adopt new on-demand service will be eventually tossed away by their competitors.

So, if you have an idea of molding up your own business into the on-demand app do get in touch with us. We can help you out to develop on-demand service apps, which would help you to provide more convenient services to your customers.

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