Last Sunday, my friends and I cosily geared up to watch the Manchester & Liverpool match. And it was no sooner when Mohamed Salah hit the first goal for Liverpool, and there we found Thomas, a crazy fan of Liverpool ordering pizza for all of us!
Yeah but unfortunately Manchester United won, and Liverpool lost by 3-2!
But yep we were treated well with large Pizzas & a carton of Coca-cola! Thanks to my friend Thomas and the famous on-demand food delivery app UberEats!
And that day had good and bad both. That incident made me ponder the ever-burgeoning on-demand economy, and the ease on-demand mobile apps have brought to our busy lives.
Today every startup & business has realised the importance of having an app of its own. Even CEOs and startups owners have understood what we as customers want, which has led to many industries plunging into the on-demand economy.
Vincent Martinot, the Managing Director of App Development Belgium (EurecaApps), has rightly said that – it is the on-demand economy that enhances the UX (user experience) of a business ushering in new areas of convenient solutions.
With this article, we’ll uncover a few of the industries playing the catalyst to the growing on-demand economy.
Let’s take a quick look at the changes on-demand apps have made to the on-demand economy.
- It is anticipated that the on-demand economy will grow at a CAGR of 49% by 2021.
- 18% of the users cite fast delivery as the reason for opting on-demand services.
- 42% of the total adult US population, which accounts for over 86.5 million Americans, has used the on-demand services.
- The project market volume of video-on-demand services is expected to reach $95976 million by 2025 due to a rise in audience preferring comfort and availability.
- According to the latest reports by PwC, on-demand mobile apps and websites will reach a whopping $335 bn by the year 2025.
- According to Harvard Business Review, about 49% of on-demand services have embraced by millennials. Nearly 30% of users are between 30-35 years of age.
- Over 22.4 million users spend around 57.6 billion annually to avail services in real-time, and they are happy making the payment.
- Stats show that even 60% of American users are ready to pay extra to get services conveniently.
- 63% of on-demand workers say they are satisfied working in an on-demand economy.
We know, by now, you have learned how on-demand apps have affected the economy. Now, let’s dive deeper into the top 5 industries, leading the on-demand economy.
Healthcare has always remained a sector that requires immediate and quick solutions. Thankfully, on-demand solutions have come to the rescue. And that’s why healthcare has become a propelling sector is surging the on-demand economy.
Earlier, patients had to go through a restless process to book an appointment or visit the doctor. More importantly, doctors had to stack all the records of patients in medical files.
Moreover, earlier than it was essential to reach out to the pharmacy in a fixed limited time to get the required medicines.
With on-demand app solutions, it came as a considerable relief combating all such situations. Along with that, on-demand offers the availability of several numbers of services be it booking an appointment, home delivery of medicines, remote monitoring, and more.
Likewise, on-demand healthcare app solutions have tried to digitise the whole process, cutting time, the cost and delivering personalised treatments to a broader audience.
Gone is the time when we patiently waited for our favourite actor’s movie to be cast on the television. Reason? On-demand apps which have the scenario the way we entertain ourselves.
Today, we can view whichever show and at whatever time we want! It’s because of video-on-demand apps & on-demand music streaming platforms that have made it easy for us.
These platforms/apps have led us to seamlessly watch popular movies/tracks from around the globe in real-time.
- Travel & tourism
It was not long ago when Uber made its mark and made a breakthrough to the on-demand travel economy.
Earlier booking a taxi meant waiting for it to arrive but now booking a taxi/cab and getting it on time has also become a hassle-free task. Thanks to the on-demand travel industry, millions of users are saved from getting late.
Apps like MakeMyTrip have also become prominent as a tourism app. Travel & tourism has become a lot easier due to on-demand apps which aid in smooth & comfortable journeys.
There’s an on-demand tourism app called Irish day tours which facilitates travel journeys and guides the tourists to have a great travel experience.
Travel & tourism is one such industry that is continuously backing an on-demand economy’s staggering growth.
- Food delivering
If one industry has seen a stagnant growth, then it is the food delivery industry.
Why is the food delivery industry so prominent? The idea behind the on-demand food delivery industry is delivery at the doorstep which the customers are loving.
While on the other hand, the concept has provided restaurant owners with more excellent opportunities to sell their delicacies to a wide array of audiences, which has given more significant sales than greater ROIs.
Many food ordering and delivery areas have explored such a hit concept by startup owner. Over the years, we have witnessed a rise in the number of startups that have succeeded by investing in either food delivery related market.
On-demand grocery delivery app, on-demand home-cooked food app, on-demand sweets app, etc. are some of the apps which have effectively backed the on-demand economy.
Another industry which has witnessed exemplary changes in its operation method after the emergence of the on-demand concept is Logistics.
The on-demand apps in the logistics sector have helped alleviate many conventional challenges. It has become a lot easier to book, track, and manage the entire process.
And due to this, many logistics businesses are putting their feet forward and investing in a promising on-demand sector.
To wrap up
So now, you are familiar with the ever-growing on-demand economy. We would like you to know that if you’re in any of the industries mentioned above, don’t shy away from taking the plunge because this a booming sector and investing in it have promising results.